Snapshot
Queensland University of Technology (QUT) consolidates budgets within a day, instead of a week, and overhauls budgeting practices with Oracle Hyperion. Read the success story to find out how QUT can now draw budgets from across the University much faster, significantly reducing the time required to produce a consolidated budget report.
Challenge
- Streamline the budgeting process to allow the management accounting team (MAT) to draw together university-wide budgets faster to offer greater decision-making support
- Ensure financial staff across the University apply the same budgeting practices while retaining a decentralised budgeting model
- Meet end user requirements for a familiar Excel-style interface, while offering greater back-end flexibility
Solution
- Oracle Hyperion
- Oracle Essbase
- Oracle Data Integrator
Results
- Standardised budgeting practices and reduced the time taken to consolidate budgets across the University
- Improved financial management and retained an Excel-style interface to assist with change management
- Addressed financial queries from the University’s management team and planning and resources committee with confidence
"We can now produce a consolidated budget in less than a day, whereas it previously took at least a week of trawling through spreadsheets to produce, balance, and check figures."
Patricia Alner, Director of planning and budget, Queensland University of Technology
