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A large oil and gas company reduced the time and labor required to consolidate its P&L statement thanks to Anaplan

Client
Oil and gas company
Industry
Oil and Gas Extraction
Functional area
Financial Planning & Analysis (FP&A)
Solution
Anaplan
A large oil and gas company reduced the time and labor required to consolidate its P&L statement thanks to Anaplan
01
BUSINESS CHALLENGE

One of the largest enterprises in Asia works in the development, production and marketing of oil and oil-related products. Since the early 2000s, this company has had an automated solution for budget planning and consolidation, which had allowed them to maintain cross-functional interaction within a wider budgeting and operation planning framework. However, the constant acceleration of processes and the resulting complexity of their calculation methods encouraged the management to search for a new solution that would allow experts to independently revise the logic of individual calculations, and quickly implement new improvements and provide better visualization.

One of the largest enterprises in Asia works in the development, production and marketing of oil and oil-related products. Since the early 2000s, this company has had an automated solution for budget planning and consolidation, which had allowed them to maintain cross-functional interaction within a wider budgeting and operation planning framework. However, the constant acceleration of processes and the resulting complexity of their calculation methods encouraged the management to search for a new solution that would allow experts to independently revise the logic of individual calculations, and quickly implement new improvements and provide better visualization.

02
SOLUTION

As a result, the company launched a project to transfer its budgeting and operational planning processes to Anaplan’s integrated planning cloud platform. This involved downloading and verifying huge amounts of data, as well as the involvement of a large number of users in full-scale testing. Nonetheless, the project was still completed in less than a year. This speed meant the business was already ready to launch their following budgeting cycle in Anaplan.

This Anaplan-based solution included not only cost planning (CAPEX, OPEX), Marketing & Transportation, Strategic Workforce Planning at the most detailed level (articles, projects, positions, etc.), but also an additional consolidated model with transparent delimitation of access to the P&L statement and scenario room.

As a result, the company launched a project to transfer its budgeting and operational planning processes to Anaplan’s integrated planning cloud platform. This involved downloading and verifying huge amounts of data, as well as the involvement of a large number of users in full-scale testing. Nonetheless, the project was still completed in less than a year. This speed meant the business was already ready to launch their following budgeting cycle in Anaplan.

This Anaplan-based solution included not only cost planning (CAPEX, OPEX), Marketing & Transportation, Strategic Workforce Planning at the most detailed level (articles, projects, positions, etc.), but also an additional consolidated model with transparent delimitation of access to the P&L statement and scenario room.

03
BUSINESS VALUE
  • A single central library of directories for all planning guidelines allowed the company to reduce labor costs and accelerate the consolidation of their P&L. This in turn allowed for more flexible planning management, and ensured that sound management decisions could be adopted quickly at various levels.
  • This solution made it possible to work with different reporting scenarios depending on the chosen parameters, including the level of acceptable risk for a new project to be realized.
  • It also made the calculation methodology more transparent, both within each area of the business and in data flows between business areas, which allows users to quickly identify errors in planning and correct them in good time.
  • A single central library of directories for all planning guidelines allowed the company to reduce labor costs and accelerate the consolidation of their P&L. This in turn allowed for more flexible planning management, and ensured that sound management decisions could be adopted quickly at various levels.
  • This solution made it possible to work with different reporting scenarios depending on the chosen parameters, including the level of acceptable risk for a new project to be realized.
  • It also made the calculation methodology more transparent, both within each area of the business and in data flows between business areas, which allows users to quickly identify errors in planning and correct them in good time.

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