In 2018, after a recommendation by Oracle, Ikano Bank approached inlumi with the request to automate their budgeting and forecasting process and simplify the usage. Their ambition was to enable faster decision-making and decrease time-to-market with improved data quality, while improving the lives of finance staff.
Ikano Bank operates in 8 different countries with a total of 11 companies, making its EPM processes highly complex. The organisation was struggling with a slow and unmanageable budgeting and forecasting process. The workflow was a completely manual process carried out in Excel. If a change was made or if anyone wanted to view data, it took approximately 2-3 days before anything could be presented. As the process was manual, the data was inconsistent and prone to human error.
Ikano Bank selected Planning and Budgeting Cloud Service (PBCS) by Oracle as their new tool for an improved budgeting and forecasting process.