In fact, if we’d decided to move forward with an on-premises deployment instead, we estimate the higher costs involved would have required us to delay our project by another three years.”
“By embracing the cloud model, we avoid the need to invest in infrastructure, management and maintenance. “The Oracle solution delivered on all of our key requirements, and we were particularly impressed by how fast and easy it was to create new views of our data,” recalls Zelewski. To enhance its approach to financial reporting, Freedom Powersports selected Oracle Financial Consolidation and Close Cloud, part of Oracle Enterprise Performance Management Cloud. The new approach would also enable the company to harness its historical sales data to determine the likely financial performance of potential acquisitions, strengthening its decision-making process. More granular reporting would also enable us to answer questions such as: ‘which are our most profitable brands?’, ‘which categories are growing the fastest?’ and ‘which stores are performing less well than we expect?’”įreedom Powersports was confident that an enterprise performance management platform would offer deeper insight into the profitability of its stores.
FREEDOM POWERSPORTS KENNESAW DRIVERS
“We knew this data was essential to understanding the drivers of financial performance across the business. “Because we were bringing in retail data that was already consolidated, we couldn’t use our month-end report to explore our profitability along dimensions such as store, category and brand,” continues Zelewski. It often took Freedom Powersports until the 15th day of the month to close its books, leaving little time left to analyze the data before the next cycle began. In the past, the company had to generate a general ledger report for each of its 14 retail stores and consolidate the data in a large, complex spreadsheet-a time-consuming process. To lay a solid foundation for that future expansion, we wanted to ensure our existing retail investments were delivering the expected returns.”įreedom Powersports knew its month-end close was a valuable opportunity to gain insight into profitability. Tom Zelewski, Chief Finance Officer at Freedom Powersports, begins: “The dynamics of the powersports market makes acquisition the most effective route to grow our business-and we’re on the lookout for stores that complement our brands and locations. Acquisition has been a key enabler of this growth, and the company is looking for opportunities to increase its retail footprint. Since 2012, Freedom Powersports has grown into the second-largest powersport dealer in the USA, offering motorcycles, utility vehicles, watercraft and more to customers in three states. Business challenge story Preparing for growth
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