Even before the planned IHS Markit acquisition, S&P Global was a very different company from the one that had installed the Oracle e-business suite (EBS) a decade earlier. Acquisitions, divestitures, and new lines of business had made S&P Global larger and more complex. And the fact that EBS was an on-premises software solution was not sustainable with the company’s broader goal of adopting an “asset light” technology strategy.
Around the same time, Oracle’s standard support for EBS was about to end. Extending this support on special terms was possible, but also cost prohibitive. And the pending IHS Markit acquisition would require integration with another large company using financial software from SAP. The need for a single, harmonized solution across the entire reach of the new organization was clear and pressing.
A company making do with financial software it had outgrown
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Replace aging applications that differed across divisions and subsidiaries
Reduce manual, disparate processes freeing up more resources for advanced analytics
Enable enhanced reporting and make it more widely available across the enterprise
Act with greater speed and agility to capture value in acquisitions
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Company-wide
opportunities
Process hundreds of thousands of transactions per month with greater efficiency
Reduce 10,000+ manual journal entries per period
Decrease >3-week close
Shorten the >3-month annual budgeting cycle
Provide better support for a growing e-commerce business
Control rising finance function costs and derive greater value
Finance
opportunities
Reduce 10,000+ manual journal entries per period
Decrease >3-week close
Shorten the >3-month annual budgeting cycle
Provide better support for a growing e-commerce busines
Control rising finance function costs and derive greater value
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Improve technical capabilities to keep pace with increased hiring needs
Reduce dependence on IT and tech resources for supporting and enabling continuous compliance with more than 800 collective bargaining agreements
Unify and automate workforce administration processes across the enterprise
Eliminate the need for employees to learn new systems and interfaces as they move from recruitment to training to managing benefit
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HR
opportunities
Before
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After
By the end of 2021, S&P Global was using a single, cloud-based Oracle Enterprise Resource Planning (ERP) and Enterprise Performance Management (EPM) solution deployed to 1,800 employees across 44 countries.
The company is now well positioned to absorb and integrate IHS Markit after the deal closed in early 2022.
In addition to these savings, S&P Global has also improved its financial reporting along with control and governance functions. These changes have made the company more competitive today, and better prepared for organic growth or further acquisitions in the future.
Fully integrated, less expensive, prepared for growth
Developed all the necessary processes to support a single, modernized digital platform serving the entire enterprise
Migrated 290,000 employees from legacy systems to Oracle Cloud
Increased insight-driven decision making across functions, driving performance and growth gains
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Company-wide
success
Decreased balance sheet reconciliations
by 85%
Achieved a consolidated retail and
corporate close within a shortened period
Reduced the types of P&L statements from 100+ to 4
Reduced operations costs across the board
Enhanced availability of data-driven insights that help to capture maximum value during acquisitions
Achieved a consolidated retail and corporate close within a shortened period
Reduced the types of P&L statements from 100+ to 4
Reduced operations costs
across the board
Enhanced availability of data-driven insights that help to capture maximum value during acquisitions
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Finance
successes
HR
successes
Deployed a custom application for union-rule processing enabling a single HCM platform to administer benefits to all employee populations under 800+ complex union agreements
Created a digital-first, digital anywhere experience resulting in higher employee engagement
Reduced new-hire onboarding time
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Reduced new hire onboarding time
Streamlined and improved the process integration of new employees post-acquisition
Integrate processes and technology across the employee lifecycle from recruiting through compensation and performance
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S&P Global’s new single-source, fully integrated Oracle ERP solution promises to deliver additional functionality and value in areas beyond finance.
With the new Oracle application platform and capabilities in place, S&P Global is better positioned for future growth, better prepared to offer new services, and better able to target new markets.
Continue to enhance analytics-driven planning and forecasting
Optimize the supply chain
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Company-wide
vision
Achieve a continuous, virtual accounting close
Achieved a consolidated retail and corporate close within a shortened period
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Finance
vision
HR
vision
Establish a continual feedback-and-improvement loop based on quarterly HR reports from the field and deployment of new capabilities
Migrate payroll, benefits, and absence management to Oracle cloud for 2023
Insource benefits administration
Aligning finance is just the start
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After
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Future
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