Bradesco Bank selects Oracle Cloud EPM to improve financial reporting

Bradesco Bank was founded in 1943 by Amador Aguiar in the city of Marília, in the interior of São Paulo, with a strategy to attract small merchants, public employees, and people with modest means. This approach set it apart from the banks of that time, which mainly focused on large landowners. Over its more than 80-year history, Bradesco Bank has been closely tied to Brazil’s development, growing alongside its population and establishing itself as one of the country’s largest financial management groups.

Today, Bradesco Bank is committed to remaining at the forefront of digital transformation to best serve its customers. In this spirit, the bank’s controller department needed to upgrade from the on-premises solutions used in its daily operations.

Bradesco Bank chose Oracle Fusion Cloud Enterprise Performance Management (EPM) to help modernize financial operations. The company chose Oracle in part because of its successful track record using Oracle Hyperion. It moved to Oracle Cloud EPM to implement a more agile platform with greater integration capacity and additional AI functionalities for strategic insights. Bank leaders were confident that Oracle Cloud EPM would reduce rework in financial calculations, increase processing speed, and offer flexibility to connect to other clouds and applications, providing the data needed to facilitate strategic decision-making.

Implementing Oracle Cloud EPM brought numerous benefits to Bradesco Bank, including a more unified user experience and simplified administration for people in various areas of the controller department. Oracle Cloud EPM brought 50% faster calculation processing, resulting in faster reports and expediting decision-making in business management. Oracle Cloud EPM also provided encryption, high processing capacity, and information security measures.

Data quality also improved with Oracle Cloud EPM, with a 40% reduction in the work needed to correct errors, leading to greater efficiency and reliability in internal processes. Another significant benefit was the standardization of data and processes. And Oracle Cloud EPM provided a platform to allow integration with other clouds and systems. Using Oracle Cloud EPM helped Bradesco Bank improve performance and efficiency and put itself in a favorable position for growth and continuous innovation.

Working with T.O. Brasil, the implementation that was originally scheduled to take a year was completed in eight months. T.O. Brasil tapped its expertise in legacy systems to accelerate the migration, providing ongoing support, comprehensive training, and effective communication with the bank's teams.