In 2017, Raymond James took the ERP (Enterprise Resource Planning) plunge and implemented Oracle PeopleSoft. This ERP project, coupled with updates to the respective reporting and analytics functions, streamlined their legacy ERP reporting systems into one efficient solution.
To implement their updated ERP needs and vision with the enhanced reporting and analytics functions, they called on the expertise of ArganoInterRel.
We sat down with Susan Jo, Raymond James’ Vice President of Finance Strategy and Transformation to understand their journey. Susan’s primary responsibility is developing and executing long term strategy for their finance department. “We asked ArganoInterRel to help us focus on our long-term vision and how best to achieve it.”
Raymond James purchased a Strategic Assessment from ArganoInterRel. After 3 days onsite and 19 meetings with a total of 36 participants, the unique format of this assessment helped the Raymond James team collect honest feedback on current reporting pain points, priorities, and desired reporting functionality. This assessment helped them realize they were needing a strong analytics platform that enables users for self-service and reduced report construction. We then created a 3-year roadmap. Included in this plan was a robust analytics platform: an Essbase data mart containing exported data from PeopleSoft. This would provide user-friendly options and a more flexible environment with familiar reporting tools.
This solution also fit in well with their current software footprint. Raymond James is an Oracle shop, with solutions spanning PeopleSoft, Analytics, Essbase, and Enterprise Performance Management. Benefits realized by this Essbase solution included: the ability to refresh PeopleSoft data multiple times daily, a central financial data store, and a security model that mimicked their source systems. This solution also provided added advantages: drilling into lower levels of their hierarchies, providing multiple ways to export data, and utilizing alternate rollups. “ArganoInterRel was integral in helping us focus and refresh our long-term vision and strategy.”
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Raymond James is a diversified financial services company based in St. Petersburg, Florida. Raymond James has over 8,300 financial advisors, with the firm’s business spread across private client wealth management, asset management, capital markets, and banking. Their success is marked by a strong financial history: 133 consecutive profitable quarters.
Founded in 1997, ArganoInterRel Consulting is the longest-standing partner dedicated solely to implementing Oracle Enterprise Performance Management and Analytics solutions. interRel is an Oracle Platinum Partner, Cloud Select Partner, and Cloud Excellence Implementer. The company is a winner of Oracle’s Global Business Analytics Partner of the Year and the only five-time winner of North America Partner of the Year for EPM and BI. The company is a nine-time Inc. 5000 honoree committed to education with a platform that includes 10+ books in its best-selling technical reference series, “Look Smarter Than You Are,” free weekly webcasts, and the free-access video education platform on YouTube, Play it Forward. Home to four Oracle ACE Directors, one ACE Associate and two ACE Alumni, interRel frequently participates in international tours with Oracle Groundbreakers.