Saturday, October 1, 2022

Qatar Airways Moves Financial Planning to Oracle Cloud

DOHA, Qatar — Qatar Airways is working with Oracle Cloud to support its financial planning as it rebounds from the pandemic and continues its global expansion.

Qatar Airways implemented Oracle Fusion Cloud Enterprise Performance Management (EPM) for its financial teams to gain the transparency and flexibility needed for more accurate planning, budgeting, and forecasting, according to Oracle this month.

The improved processes are intended to help the airline increase agility, improve insights, and enhance business decision making across the enterprise.

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The airline’s existing systems and manual processes could not scale to keep pace with the company’s expansion. The enterprise 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 behind its expansion plans. 

Qatar Airways is now “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 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 also enabled the company to eliminate manual processes in financial reporting to improve the speed, accuracy, and insights of reports.

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“The airline sector is facing a unique challenge as it navigates recent disruptions and rapidly changing recovery,” said Leopoldo Boado Lama, SVP, business applications, ECEMEA, Oracle. 

Lama said Oracle Cloud EPM will give Qatar Airways a “competitive edge by always having access to the latest innovations and emerging technologies.”

“Qatar Airways will be able to gain real-time business insights and accurately forecast revenues to make better business decisions in a dynamic market,” Lama said. “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.”

Daniel Ho, CFO at Qatar Airways, said that “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.”

Ho said the foundation the airline built with Oracle Cloud EPM for its financial processes enabled it 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,” Ho said.

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