About JR286
JR286, Inc. is a global sporting goods manufacturer headquartered in Torrance, California. It designs, manufactures, and distributes branded and licensed sports equipment and accessories, with operations in Canada, China, Southeast Asia, and Europe. JR286 is positioned to become the world leader in sports accessories and equipment.
Situation
JR286, a global sporting goods manufacturer, faced challenges with its monthly close processes and sought a way to streamline operations and automate workflows. Manual efforts for account mapping, intercompany eliminations, and historical overrides were cumbersome and prone to errors, impacting efficiency and accuracy.
Action
To streamline operations and improve financial consolidation, JR286 transitioned from excel-based processes to Oracle Financial Consolidation & Close Standard in the Cloud EPM environment. This strategic shift aimed to modernize their financial systems, ensuring readiness for mergers, acquisitions, and future enterprise performance management (EPM) needs.
Impact
The adoption of Oracle Financial Consolidation & Close Standard brought about transformative outcomes for JR286. Teams gained self-service reporting capabilities for critical financial statements such as the Income Statement, Balance Sheet, and Cash Flow, enabling faster and more informed decision-making. The project was completed efficiently within a 14-week timeline, automating previously manual consolidation processes across intercompany transactions and other key financial operations.
Collaborative efforts with Oracle Support ensured timely resolution of service requests (SRs), minimizing disruptions and optimizing system performance. This initiative not only streamlined JR286’s financial consolidation and close processes but also positioned them for scalable growth and operational efficiency in a competitive global market.