FGV deepens cost analysis capabilities with Oracle Cloud EPM

Founded in 1944, Fundação Getúlio Vargas (FGV) was created to prepare qualified business management professionals to work in public and private organizations in Brazil. Today, the institution is recognized as one of the leading colleges in Latin America, offering undergraduate and graduate courses in various areas to help promote national socioeconomic development.

FGV also prepares research and papers that are commissioned by public sector businesses, private organizations, and international bodies, such as the World Bank. In addition, through the Brazilian Institute of Economics, the institution generates and publishes indicators and reports that are made publicly available and help guide the Brazilian economy.

With almost two dozen teaching verticals and a somewhat decentralized operation, FGV wanted to accelerate the delivery of accounting reports to all units and increase the transparency of its financial results. These numbers included the costs, revenues, direct and indirect expenses of each vertical, as well as net margins.

FGV sought a solution that would present all relevant finance data in a clear, organized, insightful, and quick manner.

To find a solution that would meet the needs of its verticals, FGV evaluated systems based on more than 20 requirements that the software needed to offer. The requirements were derived from a questionnaire that was created with the input of controllers from each of its units to be sure that the selected platform would meet the needs of its users.

With the evaluations made by each controller, in addition to an independent evaluation from RGCE, the consultancy firm working with FGV, the organization chose Oracle Cloud Enterprise Performance Management (EPM) Profitability and Cost Management.

Oracle Cloud EPM Profitability and Cost Management is currently in its first stage of implementation at FGV, operating in three business verticals in the city of São Paulo. Though it is still in an initial planning phase, Oracle Cloud EPM Profitability and Cost Management allowed FGV to reduce the time required to issue management reports and therefore make more agile decisions.

Oracle Cloud EPM Profitability and Cost Management also provided a dashboard that enabled greater visibility into costs, offering financial executives and employees across administrative areas more insight into product profit margins, and all direct and indirect costs involved.

In addition, the application was implemented to ensure intuitive navigation and tight alignment with business drivers. FGV’s controllers are already using the tool without the need for constant support from the IT department.

The second wave of FGV’s implementation is already underway and includes four additional verticals in Rio de Janeiro. The company expects to implement the third wave by the end of 2022, with the aim of completing the implementation by the end of the first half of next year.

FGV selected Ninecon to complete the technical implementation of Oracle Cloud EPM Profitability and Cost Management.

The Oracle product team was also directly involved in the implementation to ensure the proposed structure was in place and to monitor product formatting.