MTN Group cuts budget preparation time in half with Oracle EPM Cloud
Business challenges
Dependent on spreadsheets for much of its planning, budgeting, financial reporting, and tax compliance, MTN finance team had to grapple with data-entry errors, differing calculations, and numbers that had been updated in some places but not others. As a result, its financial processes were too slow and error-prone, especially for a company that needed to become ever-more digital and agile.
MTN wanted to simplify its application portfolio and standardize its processes to move faster, increase accuracy, and ultimately boost workforce effectiveness.
Why MTN Group Chose Oracle
MTN Group chose to standardize on Oracle Cloud Enterprise Performance Management, determining that the Oracle platform’s breadth of applications are unparalleled.
“If you are looking for a full-suite solution, there is actually no other vendor in the market to consider,” says Johan Pretorius, MTN general manager of enterprise performance management.
Value unlocked:
MTN Group estimates that Oracle Cloud EPM has helped it to reduce its head-office budget preparation time by 50%, because when its people were emailing spreadsheets around, every time a number changed, someone had to reconsolidate and re-aggregate the numbers. In addition, company finance leaders and other executives now have access to the same, accurate numbers.
Meanwhile, by implementing Oracle Cloud EPM’s tax reporting application, MTN has shortened the reporting cycle and strengthened tax-provisioning oversight across its 23 operating geographies. Now, tax provisioning calculations and their comparisons with the group effective tax rate are done monthly instead of quarterly.
