Harmonizing data and transforming financial processes
One of the world’s leading beauty brands, L’Oréal struggled with a decentralized culture that prohibited a global view of the business, was plagued by manual data crunching, had no ability to share best practices, or respond quickly to changes. They needed to unify finance data, processes and analytics across their many divisions and countries.
To ensure sound governance and data accuracy, L’Oreal’s FP&A team made the business-critical decision to launch a single, centralized analytics platform built on solutions from IBM to serve more than 2,500 users worldwide.
“We had a lot of local solutions from users with data crunching and manual entry, but no ability to share the data with each other. We were lacking a common language on data and processes, which led to quality concerns.”
Laurent Mesnier, FP&A Information Systems Manager at L’Oreal
L’Oréal transformed their finance function with a harmonized, centralized platform for planning, reporting and analytics providing a rich live view of their worldwide business for over 2500 users.
Using the power of Cognos Analytics and Planning Analytics, L’Oréal has unified their complex data and analytics to drive faster, more confident business decisions.
By adopting a single system for all aspects of financial simulation and reporting, they can guide local controllers through consistent processes and best practices.
“With Planning Analytics and Cognos Analytics we have built a single and integrated solution for all aspects of financial simulation and reporting. It made our financial operation easier and faster.”
Laurent Mesnier , FP&A Information Systems Manager at L’Oreal
- Single portal consistently guides local controllers through all financial processes and best practices
- Saves management valuable time by instilling trust in financial figures across all levels of the organization
- Enabled quick response to regional trends and the shift to on-line channels in 2020
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If you’d like to see how IBM Planning Analytics can transform planning, modelling, budgeting and forecasting, please contact us today.