ORACLE Essbase 21c on OCI ENABLES SELF-SERVICE REPORTING AND ANALYSIS
WeWork is a commercial real estate company that is revolutionizing the way people and companies work. Founded in 2010
and headquartered in New York City, WeWork designs and builds flexible shared workspaces as well as providing office services
and access to leading technologies. The company has grown rapidly and now has more than 5,000 employees in over 280 locations,
spread across 86 cities in 32 countries.
Rapid company growth led to constant changes in corporate metadata and reporting structures. As a result, reports often
contained inconsistencies and there was a lack of confidence in the multiple versions of data. The existing Workday
Planning application was slow and performing any ad-hoc reporting or analysis was difficult. Getting timely and
accurate information to support corporate decision-making was extremely challenging for all areas of the organization.
Based on WeWork's requirements, and their previous successful experience with Essbase, MindStream Analytics determined
that the best solution was to implement Oracle Essbase Cloud
as part of the Oracle Analytics Cloud (OAC)
Essbase platform-as-a-service. OAC Essbase is a data analytics and BI reporting solution that enables
self-service visualization and data preparation, enterprise reporting and advanced analytics, dynamic
user-driven what-if modeling, and self-learning mobile analytics. In 2020, supporting Oracle's repositioning
of Essbase from OAC Essbase 12c to Essbase 21c OCI Marketplace, MindStream migrated WeWork's applications
to Essbase 21c, a Private Cloud configuration on Oracle's Cloud Infrastructure (OCI). The primary benefits
were to enable WeWork's access to the Essbase back end in a customer managed environment and provide
new Essbase functionality in future releases.
- Consistent financial numbers for FP&A that tie to the reported financials published by Accounting
- Increased efficiency and accuracy have significantly reduced the planning cycle
- Automation of large daily metadata changes ensures consistency
- Flexibility in analyzing actual versus budget variance reporting and
quick and easy constant currency analysis
- More visibility with direct access and control of data
- Profitability analysis with P&Ls down to the Building level
- Excel access via Smart View to Essbase simplifies end-user analysis
- No limit to the number of Essbase cubes means the solution is scalable
to support future growth and expansion of the model
- Expert and responsive support from MindStream's AppCare team ensures user satisfaction and adoption
AppCare Managed Services
Additional cost savings were realized by utilizing MindStream's AppCare Managed Services for application
support and administration. The AppCare team manages all of the application processes such as maintaining
security, modifying business rules, and managing data updates, as well as providing help desk support for the
end-users. WeWork gets the knowledge of EPM experts to enhance their application while saving at least 25%
compared to the cost of hiring and maintaining internal staff.
About MindStream Analytics
MindStream Analytics is an award-winning Consulting and Managed Services firm focused on helping clients
utilize technology to improve business insights and decision making. MindStream is an Oracle Gold Partner and
Cloud Partner with decades of experience in Analytics and Performance Management. MindStream offers
services ranging from software selection and implementation to best practices for financial planning and
reporting. MindStream's AppCare Managed Services has been the highest-ranked EPM solution for four years in
the MSPmentor Top 501 ranking of The Ultimate Guide to the World's Best Managed Services Providers.
Contact MindStream Analytics
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