DOHA, Qatar — Qatar Airways is working with Oracle Cloud to support its financial planning as it recovers from the pandemic and continues its global expansion.
Qatar Airways has implemented Oracle Fusion Cloud Enterprise Performance Management (EPM) for its finance teams to gain the transparency and flexibility needed for more accurate planning, budgeting and forecasting, according to Oracle this month.
The improved processes aim to help the airline increase agility, improve insights and improve business decision-making across the enterprise.
The airline’s existing manual systems and processes could not scale to keep pace with the company’s expansion. The company 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 organization with its expansion plans.
Qatar Airways is “quickly returning to its pre-pandemic network” of 180 destinations and resuming its expansion program.
Oracle Cloud EPM helps Qatar Airways better connect operational and financial data between HR, finance, supply chain and sales to improve management information, accelerate decision-making and improve business modeling and planning. the company.
Migrating business processes to Oracle Cloud EPM also allowed the company to eliminate manual processes in financial reporting to improve reporting speed, accuracy, and insight.
“The airline industry faces a unique challenge as it navigates recent disruptions and a rapidly evolving recovery,” said Leopoldo Boado Lama, SVP, Business Applications, ECEMEA, Oracle.
Lama said Oracle Cloud EPM will give Qatar Airways a “competitive advantage by always having access to the latest innovations and emerging technologies.”
“Qatar Airways will be able to obtain real-time business insights and accurately forecast revenue to make better business decisions in a dynamic market,” Lama said. “While highly relevant in today’s business environment, these capabilities will also improve productivity and enable the airline to meet future challenges in an ever-changing business environment.”
Daniel Ho, Chief Financial Officer of Qatar Airways, said that “although the pandemic has had a significant impact on the aviation industry, Qatar Airways’ ability to remain resilient and reliable for its customers, and to respond quickly to these unforeseen challenges, has been essential to maintaining the competitiveness of our business.
Ho said the foundation the airline has built with Oracle Cloud EPM for its finance processes has allowed it to “adapt quickly, especially as we plan to transition out of the pandemic and resume our recovery plans.” growth”.
“We were able to model scenarios to increase efficiency, reduce risk, and provide our leaders with the correct information to enable them to make informed decisions,” Ho said.