Case Study: Flexera Software halves financial-close cycle and improves forecasting and reporting accuracy with Oracle E-Business Suite and Hyperion

Flexera Software Halves Financial Close Cycle, Supports New Business Models, and Improves Forecasting and Reporting Accuracy

Flexera Software, a provider of software-licensing, compliance, and installation solutions, needed a more flexible and scalable financial and ERP foundation to support rapid growth and new business models such as SaaS and subscription offerings. The company faced a highly customized legacy Oracle E-Business Suite inherited from its former parent, limited enterprise visibility, slow financial close and reporting cycles, and the need to accelerate onboarding of acquired businesses while improving forecasting and reporting accuracy.

Flexera implemented Oracle E-Business Suite Release 12.1.3 and Oracle Hyperion to replace the customized legacy environment, standardize processes, and add real-time visibility and planning capabilities. As a result, financial close time dropped from more than a week to three days, reporting accuracy and frequency improved, revenue can be recognized daily, SaaS billing was automated, forecasting was extended to a six-quarter plan and shifted to line-of-business managers, onboarding of acquisitions was accelerated, and overall IT complexity and customizations were significantly reduced.

Flexera

David Espindola

CIO, Flexera Software