For many years, Buckeye Partners, an oil and gas company specialized in logistics, pipeline transportation and storage of petroleum products, relied on cumbersome and expensive business intelligence (BI) software for budgeting and forecasting. More often than not, Finance staff found themselves unable to trust the information they received once they extracted it from JD Edwards and then exported it into reports to manipulate. The disconnect of information from their ERP to the end-user was quickly becoming intolerable. “Our budgeting and reporting processes with Cognos were painful and inefficient,” says Yvonne Truong, Senior Financial Analyst at Buckeye Partners. “The system was only updated about three times a day, so once we loaded our data, we would often have to wait a full day to conduct any analysis – and after that we would waste countless hours on verifying the accuracy of the data.”
Further complicating the process was that Buckeye Partners relied on several IT contractors for support, some of whom lived in different time zones. This slowed down the process even more during annual planning, or period-end, and made ad hoc C-suite inquiries almost impossible. The need for real-time data and direct ERP integration was accelerated.
Hubble’s easy implementation, intuitive interface, and extensive support system sealed the deal for Buckeye Partners. The solution provides a comprehensive reporting and planning solution for all of Buckeye Partners’ needs. Whether the company is steeped in annual planning or simply verifying P&Ls, overseeing performance is easier than ever before. Annual planning is no longer a massive project lacking efficiency, and Finance users now experience a rolling process that requires minimal stakeholder strain. Meanwhile, continuous planning allows the entire company to react to changes or opportunities that could affect the approved annual budget. Users can easily verify how the company is performing in real-time, approve or reject budget submissions, and upload planning amounts back into the ERP with only one click. The company can also construct robust forecasting models, and receive automatic notifications when something is amiss with its budget and actuals.
“Between cost of maintenance, seamless integration with JDE and on-demand visibility into our numbers, Hubble was the clear choice,” says Senior Financial Analyst, Yvonne Truong. “It has made a world of difference to our team.”