AEG Lifts The Curtain On Fast, Flexible FP&A
Company Size
1,000+
Region
- America
Country
- United States
Product
- Vena
- JD Edwards
Tech Stack
- ERP Integration
- Central Database
- Automated Workflow
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Predictive Replenishment
Services
- Software Design & Engineering Services
- System Integration
About The Customer
AEG Presents is the live entertainment division of AEG Worldwide, a global leader in sports and live entertainment. AEG Presents manages artists, venues, and festivals across North America, providing a wide range of live entertainment experiences. With a significant presence in the entertainment industry, AEG Presents is responsible for organizing and promoting concerts, tours, and festivals, making it a key player in the live entertainment sector. The company leverages its extensive network and expertise to deliver memorable experiences to audiences, while also managing the financial and operational aspects of its diverse portfolio.
The Challenge
AEG faced significant challenges with their financial planning and analysis (FP&A) processes. The data was scattered across 60 different spreadsheet tabs, which compromised the accuracy of financials and the efficiency of report creation. Manual copying and pasting of data from various sources made ad hoc reporting difficult and time-consuming. Additionally, there was little time available for analysis and review, which hindered the ability to gain deeper insights and make informed decisions.
The Solution
AEG implemented the Vena solution to address their FP&A challenges. The solution included automated workflows and centralized templates, which eliminated the need for excessive spreadsheet tabs and email threads. By integrating with their existing ERP system, JD Edwards, and utilizing a central database, AEG was able to reduce manual consolidation and expedite the reporting process. The familiar end-user interface of Vena ensured rapid and maximum adoption, as it eliminated the learning curve for users. This allowed AEG to streamline their financial processes, improve accuracy, and gain deeper insights through easier ad hoc reporting.
Operational Impact
Quantitative Benefit
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Designing an intuitive UI for effective product demand forecasting in retail
The client, a leading luxury store chain operating in over 100 countries, was facing challenges with their product demand forecasting process. The process involved a significant amount of manual work, with all sales-related data being kept in Excel tables and calculated manually. The client's merchandising and planning experts used a demand forecasting web application to make estimations of customer demand over a specific period of time. The solution calculated historical data and other analytical information to produce the most accurate predictions. However, the client wanted to improve the efficiency and effectiveness of this process, making it faster, more accurate, and less complicated for their employees. They sought to unify all processes under an intuitive UI.
Case Study
Blue Bottle Coffee Enhances Ordering Accuracy and Reduces Waste with ML-Driven Demand Forecasting
Blue Bottle Coffee (BBC), a global coffee roaster and retailer, faced a significant challenge in managing the supply of pastries across its international network of cafes. The company was using a manual ordering system, where cafe leaders estimated the required quantity of pastries based on historical sales data, current inventory, and growth projections. This system was effective when BBC had a few cafes, but with over 70 cafes worldwide, it became inefficient and inaccurate. The inaccuracies led to either under-ordering, causing sell-outs and customer dissatisfaction, or over-ordering, resulting in food waste and profit loss. The suboptimal utilization of pastries was also affecting BBC's bottom line. Therefore, BBC needed a scalable, precise, and predictive ordering solution to improve pastry ordering accuracy, reduce food waste, and meet its sustainability goals.
Case Study
Optimizing delivery of global educational programs with deeper insight into company finances
EF Education First (EF) provides language tuition around the world, often by immersing students in another culture. As student numbers fluctuate in different markets and destinations, the company must manage a dizzying array of costs relating to staffing, accommodation and educational materials, and price its offerings to maintain healthy profits while also maximizing sales. With thousands of employees influencing its budgets and financial plans, the company had difficulty ensuring a consistent approach to calculating costs and collecting data. Historically, EF had relied on spreadsheets to collect and compile financial and operational planning data from employees. As a highly decentralized organization, this was no easy task, and it was difficult to ensure a standardized approach to calculating figures and creating accurate budgets.
Case Study
Erhvervsstyrelsen: Automating financial planning processes and building budgets that everyone believes in
Erhvervsstyrelsen, the Danish Business Authority, supports businesses across Denmark. It runs 450 projects across 27 offices, employs 600 people, and is responsible for an annual budget of DKK 600 million (USD 89.8 million), as well as a number of national and EU grants. Each of these projects manages its own budget – but Erhvervsstyrelsen needs to maintain control of overall expenditure, report back to the Danish parliament, and demonstrate the value it delivers for taxpayers’ money. For this reason, it is very important for the organization to have a robust, reliable budgeting process. Erhvervsstyrelsen was formed by a merger of three former agencies, each of which had its own separate budgeting system. Since none of these systems could be adapted to meet the needs of the new organization, Erhvervsstyrelsen set up a new budgeting process based on spreadsheets. This process involved sending out spreadsheets to each project manager, and manually collecting and consolidating the data they sent back.
Case Study
Getin Noble Bank S.A. Personalizing offers to meet customers’ specific banking needs raises savings deposits by 20 percent
Getin Noble Bank S.A. experienced several years of rapid growth, at twice the pace of the rest of the Polish banking sector. As the market became saturated, customers demanded a higher level of service. To create tailored product offers to meet their needs, the bank needed a more efficient and automated method of customer segmentation. It also wanted to develop effective campaigns with repeatable and predictable results.
Case Study
SmarterData: Helping retailers redefine practices for the digital age
SmarterData, a company based in San Ramon, California, wanted to help its clients navigate the uncertainties of the digital-age retail industry. The company aimed to find new ways to provide relevant, actionable, data-driven insights into consumer behavior. As the online retail sector continues to grow, many traditional retailers find themselves struggling to keep pace. In today’s digital economy, companies of all shapes and sizes must both manage and exploit digital transformation in order to survive. SmarterData offers a range of predictive and prescriptive analytics services – including innovative mobile apps that help consumers find products, and retailers gain real-time insight into store operations.
