Doe Run operates at full speed in the cloud
"Using spreadsheets to manage file links, maintain formula integrity, generate reports, and track changes became too big of a chore for our business," said Dr. Narayana Swamy, financial planning and analysis manager for Doe Run. Starting in 2011, Doe Run implemented Workday Adaptive Planning across four U.S. locations for all of its financial analysis, forecasting and corporate budgeting needs. Doing so improved the company’s ability to:
- Create multiple versions of financial planning models per location.
- Automate standard cost calculations for budgeting purposes.
- Provide a breakout of variance analysis based on production and usage efficiencies.
- Analyse monthly sales and billing metrics for individual customers.
- Calculate capital lease liabilities.
- Manage and control versions of financial models.
- Perform financial analyses efficiently via drag-and-drop features.
- Analyse gross profit analysis in more detail.
- Add more visibility into historical data.
"Detailed planning and forecasting is a central management tool for our business," said Dr. Swamy. "It is the primary mechanism for controlling cost, which is critical for managing cash flow in a volatile business environment. This more disciplined financial management tool produces more reliable budgets, more timely re-forecasts, optimal allocation of resources and improved decision-making overall."
Doe Run’s search leads to the cloud
The on-premise Enterprise Resource Planning (ERP) and spreadsheet solution the company had previously used to create financial plans and forecasts had become increasingly cumbersome and out of touch with the company’s growth, prompting Dr. Swamy to launch an exploratory project to find an alternative. "We ranked six different solutions based on our needs, including some enterprise on-premise solutions, and we ultimately decided that Workday Adaptive Planning was the right solution for us," said Dr. Swamy.
From a total cost of ownership, Workday Adaptive Planning was a smart decision. "Workday Adaptive Planning offered extraordinary value coming in at essentially 10% of the total cost of on-premise solutions when you factor in hardware, IT, license and support costs. As a cloud solution, it was a big win for us because our IT team didn’t have the resources to be fully engaged in maintaining our financial system," said Dr. Swamy.
One of the many capabilities Doe Run found to be mission critical is the solution’s multi-instance deployment capability. "Workday Adaptive Planning allows division leaders within our company to have their own instances, which is a key for our business and the varied operations in each division," said Dr. Swamy. "It also enables us to easily link those instances together for a consolidated, holistic view."