What is Integrated Business Planning?
Today, Finance leaders are adopting integrated business planning (IBP) to evolve their corporate performance management (CPM) processes, allowing them to simplify financial processes and align financial goals with operational plans This approach gives organizations increased levels of agility, real-time collaboration, insightful analysis, and increased business value by empowering them to make decisions with confidence.
In short, IBP aligns business goals and financial targets with decisions and execution across the entire organization. For finance and business leaders evaluating a move to IBP, a modern and unified platform will help support collaboration by technically enabling finance and operations to make better decisions while achieving optimal performance and return on investment. By leveraging the right platform, companies will benefit from the ability to create real-time, rolling forecasts with the speed and agility required to address the needs of today's business climate.
As an example, in a manufacturing company that embraces IBP, there's a direct line from purchasing, production, and inventory to sales and marketing to financial targets and budgets. A key IBP benefit is that materials are bought at the right price, at the right time, and in just the right quantity to fulfill market demand. Successful IBP delivers closer collaboration and more trust among departments, leading to improved decision-making.
Companies that undertake IBP realize several practical benefits, including reduced holding costs, more responsive customer service and demand fulfillment, shorter time to market for new products, and an improved correlation between demand planning and fulfillment.
Three additional key benefits:
- Real-time insights: For example, once companies have instituted rolling forecasts, finance can quickly and accurately answer questions on spending and cash flow, allowing for more accurate KPIs across the board.
- Ownership: All employees assume responsibility for meeting all goals.
- Improved customer satisfaction: Better planning yields better insights into what customers want.
As modern finance leaders take on expanded leadership roles, many are leveraging executive dashboards as a natural tool to collaborate with their business partners and facilitate recurring executive meetings. This creates alignment between financial goals and business plans through the use of visualizations to tell the business story behind the numbers, bringing focus to the highest priorities and decision needs. For sophisticated global enterprises, IBP requires a technical solution that is flexible and scalable across the entire organization while enabling the business to plan without compromise.
How can MindStream help?
MindStream Analytics is a premier advisory and managed services provider. We help organizations acquire, implement, and manage strategic finance solutions designed to grow your business by bringing people, processes, and information together. Our team is made up of business and technical experts with years of experience with Oracle Hyperion, OneStream, NetSuite, and other major technology vendors.
We know that to excel in today's competitive environment, companies must have analytical insight across their organization for a clearer view of corporate-wide performance. We believe the power of technology, combined with best practices and access to relevant information, helps companies gain a competitive advantage by simplifying financial processes and align financial goals with operational plans.
Partner SpotLight
Oracle
Oracle has the most comprehensive suite of integrated, global business applications that enable organizations to make better decisions, reduce cost..
Our Company
MindStream Analytics' senior staff was there at the birth of Business Intelligence. We have been part of building Business Intelligence nationally from its humble niche product status to the ubiquitous analytic tool that it is today. MindStream consultants are well versed in reporting and information management and are ready to help you leverage the power of multiple tier-1vendors. From Oracle Hyperion to IBM Cognos, we can help you select and integrate the right tools for you to better understand your information. MindStream Analytics has experience across a wide variety of industries: Business Services, Consumer Products, Energy, Financial Services, Healthcare, Manufacturing, Transportation , and Telecommunication. We have the depth and breadth of experience to help you deliver actionable information to users.
Whether you need an enterprise wide Oracle BI Enterprise Edition (OBIEE) rollout, an Oracle BI Apps rollout, or an IBM Cognos ReportNet rollout, MindStream Analytics is here to help you succeed.
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.