Estapar optimizes closing and forecasting processes with Oracle Cloud EPM

With a presence in 17 states and more than 80 cities, Estapar is the largest parking lot operator in Brazil. It manages more than 450,000 parking spaces and serves thousands of customers each month.

Previously, Estapar conducted all of its financial closing, budgeting, and forecasting cycles in spreadsheets, which increased the risk of errors. These manual processes were time-consuming and left the planning team with little time for more in-depth analysis of the company’s financial data. Estapar wanted to standardize data management, streamline result disclosures, and use real-time data to create scenarios and analyses.

Estapar chose Oracle Fusion Cloud Enterprise Performance Management (EPM) because of the software’s ability to search and display data in seconds, helping the company's planning team to easily view results and perform vertical and horizontal analyses. Information security and data storage capacity were also key factors in the decision to adopt Oracle Cloud EPM.

With Oracle Cloud EPM, Estapar’s planning team completed accounting closures and planning cycles 30% faster. When relying on spreadsheets, closings were completed on the tenth business day of the subsequent month. Now, it’s delivered on the seventh business day, allowing more time for planning and forecasting activities.

The company also sped up budgeting processes. Previously, it took up to three hours to generate data for its more than 700 branches, because data was offline. Now, the same process takes a maximum of 30 seconds. During the pandemic, the company's business and revenue were severely affected. Oracle Cloud EPM helped Estapar perform cost and expense exercises based on revenue and payroll data to create action plans quickly. The company quickly adapted and achieved historic revenue records after the pandemic.

The company partnered with Ninecon for the Oracle Cloud EPM implementation, which took six months.