Suzano gains efficiency in accounting close using Oracle Cloud EPM

Suzano, established almost a century ago, is the largest pulp and paper company in Brazil. After a merger with paper producer Fibria, Suzano became one of Latin American’s largest paper manufacturers, with revenues of R$41 billion, and operations in Europe, the United States, China, and Brazil. Today the company is carbon-negative, with a lower volume of carbon emissions than it produces. Its production capacity for pulp is almost 11 million tons, and for packaging is about 1.4 million tons. To help ensure a continuing supply for pulp, the company plants 1.2 million tree seedlings per day.

Suzano's leaders wanted the company to become more agile and reduce manual processes. Accounting reconciliations were done using spreadsheets, with data coming from several sources throughout the company. Due to its rapid growth, Suzano needed to rethink these processes. One of the goals was to put people and business at the heart of the solution, with an aim to foster innovation and reduce bureaucracy.

Suzano decided that Oracle Fusion Cloud Enterprise Performance Management (EPM) was the solution the team was looking for. One of the main reasons the company selected the application was the possibility of automating accounting reconciliation, which was previously done manually. Suzano knew Oracle Cloud EPM would allow fewer employees to accomplish the task without compromising deadlines or quality. 

Serving the entire organization, the Suzano Global Services (SGS) team consolidated all company data from spreadsheets. The existing connections in Oracle Fusion Cloud EPM allowed the team to create a partially automated model in the accounting reconciliations process. The solution ensured full traceability of information. Any delay is seen clearly, without a manager needing to ask each employee involved for more details.

The automation also contributed to risk reduction. Because accounting reconciliation is about compliance with Suzano's balance, automation brought more security. The efficiency gained in the closing process was also significant, especially in the fiscal aspect. In short, the company benefited from more visibility and efficiency in the accounting close.

Suzano selected TO Brasil for the implementation because the partner understood Suzano's needs and suggested various ways to accomplish the job. The project proceeded smoothly and was completed on time.