Qatar Airways transfers its financial planning to Oracle cloud
Qatar Airways has implemented Oracle Fusion Cloud Enterprise Performance Management (EPM). This allows the financial teams of the airlines to gain the transparency and flexibility needed for more accurate planning, budgeting, and forecasting.
The improved processes are helping the airline increase agility, improve insights and enhance business decision-making across the organisation.
The airline needed to automate and streamline its financial and planning processes to more effectively control and manage resources and investments, improve reporting capabilities, and align the organisation behind its ambitious expansion plans. As the commercial aviation sector recovers from the pandemic in the second half of 2021, Qatar Airways is quickly returning to its pre-pandemic network of 180 destinations and resuming its expansion programme.
“While the pandemic had a significant impact on the aviation sector, the ability of Qatar Airways to remain resilient and reliable for its customers, and respond quickly to these unforeseen challenges, has been critical to maintaining our business competitiveness. The foundation we have built with Oracle Cloud EPM for our financial processes has enabled us to adapt quickly, especially as we plan for the transition out of the pandemic and the resumption of our growth plans. We have been able to model scenarios to increase efficiency, reduce risk, and provide our leaders with the correct information to allow them to make informed decisions,” said Daniel Ho, Chief Financial Officer, Qatar Airways.
Oracle Cloud EPM enables Qatar Airways to better connect operational and financial data across HR, finance, supply chain and sales to improve management insights, accelerate decision-making, and enhance the company’s business modeling and planning. Moving business processes to Oracle Cloud EPM has also enabled the company to eliminate manual processes in financial reporting to improve the speed, accuracy and insights of reports.
Leopoldo Boado Lama, Senior Vice President, Business Applications, ECEMEA, Oracle, said, “The airline sector is facing a unique challenge as it navigates recent disruptions and rapidly changing recovery. With Oracle Cloud EPM, Qatar Airways will gain a competitive edge by always having access to the latest innovations and emerging technologies. With Oracle, Qatar Airways will be able to gain real-time business insights and accurately forecast revenues to make better business decisions in a dynamic market. While highly relevant in the current business context, these capabilities will also improve productivity and ensure the airline can respond to future challenges in what is a continually evolving business environment.”
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