R J Linehan, Managing Partner
Organizations continue to rely on siloed systems to support Corporate Performance Management (CPM) processes such as budget and forecasting, consolidation and close, and profitability and cost analysis. Due to these disparate systems, there exists a disconnect between operational goals and management strategy, which impedes an organization’s ability to operate more efficiently. Furthermore, this often leads to an inability for an organization to improve its competitive standing.
Innovus Partners, a leading provider of CPM and Business Intelligence consulting services on the Oracle platform, assists organizations with employing proven and tested methods that improve their CPM processes. “We offer a balance of both functional and technical expertise, enabling clients to realize their vision of achieving true Corporate Performance Management,” states RJ Linehan, Managing Partner of Innovus Partners.
Combining both the innovation and simplicity of Oracle EPM Cloud, companies are able to align management strategy with operational goals, report with confidence, and drive predictable performance. Innovus enables organizations to utilize a single unified platform that supports the unique processes that encompass CPM: Account Reconciliation, Consolidation and Close, Narrative Reporting, Planning and Budgeting, Tax Provisioning and Reporting, and Profitability and Cost Analysis.
We want our clients to not only benefit from the solutions that we build for them, but also ensure that the improvements in efficiency, accuracy, and transparency have a direct impact on an organization’s bottom line
Comprised of individuals dedicated to helping clients achieve strategic advantage through business analytics, Innovus boasts a team with the right balance of business and product experience. Drawing from this experience, Innovus helps organizations overcome their CPM challenges. “We want our clients to not only benefit from the solutions that we build for them, but also ensure that the improvements in efficiency, accuracy, and transparency have a direct impact on an organization’s bottom line,” says Linehan.
Innovus works with its clients to focus on understanding their pain points. This exercise leads to defining realistic business requirements that align with both management and user expectations. Once the team agrees on the requirements and design, the build stage starts. During this stage, Innovus involves the client to verify the build objects align with requirements and changes to requirements are addressed. Finally, when the testing stage begins after build, it becomes a verification exercise to ensure nothing was missed and the solution aligns with user expectations.
“There is no shortcut to achieving this feat. This is why Innovus performs the necessary due diligence to capture a client’s requirements and deliver a CPM solution that is embraced by users,” says Linehan.
"We offer a balance of both functional and technical expertise, enabling clients to realize their vision of achieving true corporate performance management"
To illustrate Innovus’ capabilities, Linehan shares a case of a commercial bank that faced challenges managing its annual planning cycle. The entire process took approximately three months to complete. The Innovus Team collaborated with the client to identify bottlenecks and opportunities for streamlining the process. With Innovus’ help, the client was able to complete its annual planning cycle six weeks earlier than the previous year. The client was delighted with the resolution. It now has plans to expand its use of the Oracle EPM Cloud because it now sees the value of leveraging the tool in other areas of the organization.
Building on successful engagements and through its partnership with Oracle, Innovus provides innovative solutions and services spanning the breadth of CPM. The next step for Innovus in the CPM space includes exploring use cases for applying artificial intelligence and machine learning technology in its solution offerings. “We feel artificial intelligence and machine learning are the next opportunities and believe it will eventually deliver value to our clients. It’s an exciting time to be in the CPM space,” states Linehan.