Blue Owl Upgrades Monthly Close, Reporting, and Data Governance with Oracle Cloud EPM

Situation  

Blue Owl Capital operates in the highly regulated financial services industry, specifically in alternative investment asset management (private equity). The firm encountered critical issues including struggles with monthly close processes due to rapid acquisitions and divestitures, leading to data hierarchy maintenance complexities. They also faced requirements for SEC-compliant financial statements and reports following their IPO and relied on manual processes for financial consolidation and metadata management, hindering efficiency and compliance.

Action

To address these challenges, Blue Owl partnered with Centroid, leveraging their expertise in Oracle Cloud EPM solutions tailored for the financial services sector. The project, which spanned 16 months, focused on enhancing monthly close, reporting, and data governance capabilities. Key actions included designing and implementing an application capable of handling high data volumes and frequent changes, ensuring scalability and performance. Additionally, Blue Owl utilized Centroid’s accelerators that are designed for private equity firms to streamline project delivery. 

Impact

The collaboration with Centroid transformed Blue Owl Capital’s financial operations by implementing Oracle Cloud EPM features such as equity pickup, variable ownership, intercompany eliminations, and currency translation to streamline ERP entries. Aligning Oracle ERP and Financial Consolidation and Close (FCC) data hierarchies improved data consistency and accuracy, while introducing data governance workflows enhanced compliance and operational efficiency.

This initiative modernized Blue Owl Capital’s financial systems, boosting regulatory compliance, data integrity, and supporting growth, with significant advances in financial reporting accuracy and operational efficiency through Oracle Cloud EPM and Centroid’s partnership.