Case Study: The Very Group achieves faster, more automated reconciliations with Oracle Cloud EPM Account Reconciliation

The Very Group increases efficiency in reconciliations using Oracle Cloud EPM

The Very Group, one of the UK’s largest integrated digital retailers and flexible payments providers, was looking to improve its finance reconciliation process as part of a wider digital transformation. Its manual approach to updating templates and preparing more than 500 reconciliations each month was time-consuming, and it needed a solution that could also handle custom reconciliation logic reliably. The company chose Oracle Cloud EPM Account Reconciliation to address these challenges.

Oracle implemented Oracle Cloud EPM Account Reconciliation with Oracle Consulting support, enabling automation rules, auto-prepare and auto-approve workflows, and faster data refreshes. The results were significant: reconciliation preparation time dropped from about five minutes per template to two minutes per period, auto-close rates reached up to 44%, and balance data now refreshes at least twice a day instead of twice per period. This reduced manual effort, shortened month-end close, and improved the quality and timeliness of financial analysis.

The Very Group

Gary Clampitt

Finance and HR Tech Lead