WeWork

Case Study

WeWork Oracle Essbase Implementation

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.

Benefits include:

  • 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.

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Latest testimonial

cleaver brooks

We chose MindStream because they had a strong emphasis on proactive support and monitoring inside the Hyperion applications, and will include maintenance of our existing Hyperion application artifacts. We chose a vendor who proposed both managed services and hosting, and demonstrated a productive working relationship with their hosting partner.

Brent A. Friedman
Sourcing Manager | Purchasing Services, The University of Pennsylvania

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