“If you are going to change the world, you need a system to help get you there. For us, it was… about strategic opportunities. POET was at a crossroads. We needed a system that we could grow with and that could grow with us.”
Lezlee Herdina, Director of FP&A, POET
A privately held corporation headquartered Sioux Falls, South Dakota, POET LLC is a U.S. biofuel company that specializes in the creation of bioethanol. The 1,900-employee company produces 1.8 billion gallons of ethanol annually and has been granted 90 patents in the U.S. and abroad.
In this webinar, Edgewater Ranzal’s Managing Director and HSF Practice Director Ryan Meester speaks with Lezlee Herdina, POET’s Director of FP&A, to give us a behind-the-scenes look into POET’s Enterprise Planning Solution journey, from realizing that significant change was needed to an extensive evaluation process to the ultimate solution and, finally, to the company’s enduring vision going forward.
The Right Tool for the Right Job (RTRJ)
While Lezlee and the POET team were open to the insights and recommendations generated by their Ranzal analysts, they also had some specific goals in mind from the outset:
- Provide seamless integration of financial and operational data
- Create a platform for process improvement, including implementing greater automation in monthly processes improving efficiency and increasing time for value-add analysis
- Achieve better communication, including ease of reporting
- Reduce reliance on Excel models and associated version control issues
- Improve data governance, with clarity of data model with common definitions to facilitate planning and reporting processes
- Integrate operational and financial dashboards for performance measurement
- Use of scenario analysis to drive M&A and strategic business decisions
- Increase emphasis on cash perspective
- Understanding when to use SmartView, Financial Reports, and Oracle Business Intelligence Enterprise Edition (OBIEE), as well as take full advantage of the strengths of each of the Reporting Tools
- Keep it simple, and trust in the higher level nature of HSF
- Recognize the important nature of the user experience
- Ensure that data integrations are seamless for the end-user
To learn more about the POET team’s initial ongoing business challenges, the lessons learned, and the ultimate results, view a recording of “True Power of Oracle’s Enterprise Planning Suite Unleashed at POET” webinar.
To learn more about our Enterprise Planning solutions, visit www.ranz.al/epbcs-webinars
Missed the webinar? View Recording Here.