inlumi blog

    inlumi blog

    Transforming from Excel to Performance Management

    November 22nd, 2021 | Ritesch Malhoe

    When I started my first internship in a Finance department in 2005, we actively used Excel for most of our Finance processes. I am amazed that after all these years, Excel is still prevalent as a data source for reporting. Although Excel certainly has its place, a performance management solution is imperative for carrying out complex financial processes, enabling Finance to become a true business partner.

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    "Consultancy blends technology and people."

    October 29th, 2021

    Nathan is a Managing Consultant at inlumi and has been part of the team in the Netherlands since 2016. We interviewed Nathan to learn what drove him to become a consultant and what he enjoys most about his role. Understanding people is a key part of Nathan's work as a consultant, with the aim of enabling organisations – and the people that work there – to perform at their best.

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    Introducing Extended Planning & Analytics

    October 26th, 2021

    Finance and the rest of the business are collaborating more and more, and advances in technology mean that we now have solutions that can support organisation-wide planning. Are you ready for xP&A?

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    "At inlumi, you will make a difference."

    October 21st, 2021

    Last year, Rob Wang joined inlumi as an Analyst in our London office. We interviewed Rob to hear about why he joined inlumi, how inlumi has supported his development, and how it has been to get to know the team during challenging times.

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    Avoiding a catch 22 situation

    October 7th, 2021 | Nathan Goodearl

    You may or may not be familiar with the “catch 22” idiom. It is where one is trapped between two contradictory conditions, a somewhat inescapable paradox. It is a situation that I frequently come across when discussing the benefit of an Enterprise Performance Management (EPM) solution. Organisations are in desperate need of a tool that streamlines their FP&A processes, but the team involved shudders at the thought of implementing a solution.

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    Enabling next-generation consolidation at Fiven

    September 23rd, 2021

    Joachim Brandt is a Principal Consultant at inlumi Norway. In 2020, Joachim led the implementation of a consolidation solution in Oracle EPM Cloud at Fiven, a chemicals company headquartered in Oslo. Having previously done all their consolidation in Excel, Fiven now has a scalable solution which has significantly improved their close processes, reporting, and analysis.

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    Still considering whether to upgrade to 11.2.x?

    September 22nd, 2021 | Vinesh Unalkat

    As a Commercial Manager in our Managed Services division, I have been very busy recently trying to fit as many upgrades for organisations as I can into our schedule to meet the December deadline for Hyperion, expiring on Oracle Premier Support. Rightly or wrongly, there had been quite a lot of indecision about whether to make the move or stay with a release that is moving to Oracle Sustaining Support and the implications this has. Owing mostly to security concerns with the lack of vulnerability patches post Dec 2021, many organisations have now decided that upgrading sooner is better, but that timeline is now likely to push into early 2022.

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    The Benefits of Multi-Year Workforce Planning

    September 21st, 2021 | Nathan Goodearl

    It is a reality that employee-related costs comprise a significant percentage of an organisation’s operational costs. Typically, a Workforce planning solution caters to the traditional finance cycle of the annual budget and the year-to-go periods of the quarterly forecasting. If an organisation wanted to perform long-term planning of Workforce costs, this was done at a cost centre level with a subset of accounts. The COVID pandemic triggered an emphasis on the costs, with organisations quickly looking for ways to gain further insight into them. A critical aspect in the decision-making is truly understanding where these costs are.

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    Rapid Planning: The end of the traditional cycle

    September 7th, 2021 | Nathan Goodearl

    When I ask organisations how frequently they perform a forecast, the response is almost universally the same: every quarter with an annual budget. Mid- to long-term planning was often done manually in Excel even if an Enterprise Performance Management (EPM) solution was in place. The focus was on the short term with special attention to the budget.

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    Strategies for implementing change

    June 22nd, 2021 | Robert Wang

    Implementing and managing change has always been vital for companies to adapt to changing market demands. In an age of increased market transparency, labour mobility, globalization, instantaneous communication platforms and constant access to information, companies have been forced into a more flexible and holistic approach to their business strategy. Those that can make even marginally more accurate market trend forecasts than the rest of the industry often obtain a significant competitive advantage.

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