DIVIDING A HYPERION PLANNING APPLICATION, EXPANDING THE HYPERION FOOTPRINT TO FORECAST ON THE BUSINESS' CUSTOMER CATEGORIES
Vantiv LLC (formerly Fifth Third Processing Solutions) is an Ohio-based payment processing and technology provider. Vantiv acts as a merchant acquirer-a third party payment processor operating between merchants (and their banks) and customers (and their banks). One of the largest merchant acquirers, it also handles PIN transactions, fraud detection and management, and credit card issuing. Catering to a variety of customers, from small and mid-sized to global merchants, Vantiv sells services specific to grocers, pharmacies, retailers, restaurants, and others. The company processes billions of payment transactions, accounting for over $700 billion in volume annually. Vantiv went public in 2012.
Vantiv's corporate Finance group wanted to be able to forecast at a more granular level: to plan for transactions by customer types, and, in some instances, by their largest clients. This would allow them to have greater insights into the activities of each customer type, and gain greater understanding of their largest merchants. The corporate team developed a plan to divide their original Oracle Hyperion planning application into several new applications, and sought to improve errorprone Excel proceses.
Over time, the scope of the project began to expand as more detailed forecasts were demanded. Also, during the course of this business initiative, it was imperative that the Hyperion environment remain stable throughout various migrations and upgrades.
Solution
MindStream was engaged to provide advice and consulting services as they embarked upon expanding the current Planning environment, and dividing it to reflect their various Merchant Lines of Business ("Merchant LOB"). It began with four applications, subdivided into various components, and grew over time. In addition, MindStream helped the company begin to use driver-based bugeting processes. Consultants also developed a plan to replace manual processes, formerly done via Excel.
MindStream created a separate Planning application for each of their LOBs. Each application fed into a single Essbase Aggregate Storage Option (ASO) cube for reporting and consolidating the applications into a single view. Using the existing Merchant bank application as an anchor and basis for the new Planning applications, logic was built to accommodate annual Plan, in addition to the newly developed Forecast logic. In accordance with the build of the new applications, automation was built into new processes. MindStream also assisted in the development, or enhancement of, business rules, data forms, work flows, task lists, and the overall financial reporting processes. For example, with our expertise, we were abe to advise on additional dimensions to improve reporting flexibility.
As time wore on, the enterprise grew, and business' requirements began to change, but, with MindStream's expertise and adaptability, Vantiv continued to benefit from our ability to move alongside the project. Experts were able to guide the client team through enhancements and process improvements, such as overnight disaster recovery process improvements. Throughout various changes, MindStream supported each change, providing automation enhancements and migration support that ultimately maintained stable environment performance.
Results
Vantiv relied upon MindStream to embark on a large scale, transformative project for the fast-growing, large public company. Vantiv was able to smoothly transition from a single Hyperion application to a multitude of applications, while maintaining annual forecast and plan, but increasing reporting capabilities. Error-prone Excel processes were replaced with automation rules and tools. With MindStream as their partner, they were able to expertly complete new application builds, develop optimization tools, and maintain a stable Oracle Hyperion environment for their Finance applications, even when design and build requirements changed. With reporting flexibility, Vantiv is now able to forecast and budget toward a richer, more granular level for their unique marketplace of merchants and customers.
Partner SpotLight
Oracle
Oracle has the most comprehensive suite of integrated, global business applications that enable organizations to make better decisions, reduce cost..
Case Studies
Accumen
Thanks to the intervention of MindStream Analytics, Accumen's Finance department can now model their business with a new, more organized structure that isn't conventionally available in NetSuite.
Acme Brick
Acme Brick turned to MindStream Analytics for help implementing OneStream to replace their outdated TM1 solution.
Alterra
Alterra sought the expertise of MindStream to address the challenges they faced in their Capital Planning process.
ATCO Group
Energy conglomerate ATCO operates worldwide in utilities, power generation, and related services.
Avalon
Working with MindStream Analytics, Avalon Healthcare Solutions adopts NetSuite Planning and Budgeting to accelerate budgeting and forecasting processes.
Bayer Health Care
Bayer Healthcare implemented Hyperion Planning and Workforce Planning in 10 weeks to dramatically streamline their Income Statement budget and Workforce Planning process..
BluEarth
MindStream Analytics' partnership with BluEarth Renewables epitomizes the power of technology and collaboration.
Celgene
An Oracle Hyperion Planning Upgrade provides multi-national organization Hyperion Application optimization and stabilization.
Cleaver Brooks
OneStream XF was chosen as the platform that would transform Cleaver-Brooks' Finance processes.
CoorsTek
The collaboration between CoorsTek and MindStream resulted in significant improvements in CoorsTek's financial consolidation and reporting processes.
Elite Body Sculpture
MindStream Analytics' collaboration with Elite Body Sculpture encapsulates the transformative potential of targeted tech solutions in streamlining administrative processes.
Enlyte
Enlyte, a merger of Mitchell, Genex, and Coventry, faced challenges with disparate financial solutions and the need for combined reporting.
Flanders
MindStream Analytics collaborated with Flanders to implement OneStream Consolidation and Reporting solution.
Foley Products
Foley Products was facing a significant challenge with its Excel-based actual management reporting system.
Harte Hanks
The collaboration between MindStream Analytics and Harte Hanks culminated in a highly customized, user-friendly NetSuite implementation.
Interface
Interface used a complex, manual, excel-based FP&A process for monthly review, and the summary data was loaded in OneStream.
Kymera International
Thanks to Mindstream Analytics' assistance, Kymera was able to load all of their data into OneStream and validate it successfully.
MacLean Fogg
MacLean-Fogg partnered with MindStream, a leading implementor specializing in modernizing and optimizing enterprise systems.
MEPPI
MindStream's expertise and experience were sought to conduct a vendor selection initiative focusing on MEPPI's F2023 planning process.
OUAI
MindStream Analytics and OUAI's collaboration showcases the transformative power of strategic technological intervention.
Plaskolite
By migrating to OneStream, Plaskolite has achieved a material reduction in consolidation time and overall Financial Close cycle, eliminated the hours spent compiling and verifying data in Excel, streamlined its Planning, Budgeting and Forecasting model and delivered flexible and timely reporting that enables more strategic analysis of their financial data.
Redwire
Understanding the nuances of Redwire's challenges, MindStream Analytics devised a holistic approach to overcome them. The implementation of NetSuite was just the beginning.
Simon
Simon's existing corporate Hyperion Financial Management (HFM) production application was consolidating at a rate of seven hours, a performance issue causing great headache to corporate Accounting.
Source Code
The successful transition to OneStream revolutionized Source Code's financial reporting.
Subway
Subway collaborated with MindStream Analytics for the NetSuite Analytics Warehouse implementation.
UPenn
MindStream Consulting and AppCare team members are proud be working side by side with UPenn university in accomplishing this implementation and along with continuing our AppCare services after go-live.
USG
USG was an Oracle Hyperion customer realizing that it needed more specialized support for its various Oracle Hyperion applications.
Vantiv
Dividing a hyperion planning application, expanding the hyperion footprint to forecast on the business? Customer categories.
Versant Health
Versant Health engaged MindStream to help resolve the challenges they were experiencing with their consolidation, close, and financial reporting processes.
Virginia Spaceport Authority
The MindStream team implemented the Standard + Workforce NetSuite Planning & Budgeting.
WeWork
MindStream Analytics determined that the best solution was to implement Oracle Essbase Cloud as part of the Oracle Analytics Cloud (OAC) platform-as-a-service
WindStream
Innovative use of essbase to streamline and connect hyperion financial management for enhanced financial analysis.
XY Planning
MindStream Analytics, well-versed in addressing such challenges, presented a comprehensive Netsuite solution for XY Planning.