Industry – Financial Services
Global Scale – $137 million Revenue
Live Oak Bank is a modern bank for a modern era, specializing in providing loans to small businesses in specific industry verticals. By providing an unprecedented lending experience that addresses business needs in those industry sectors, Live Oak Bank has experienced consistent success. Planning is critical for every company, especially when it’s growing, and Live Oak Bank rapidly outgrew their homegrown planning application which comprised of a combination of Microsoft Excel and Microsoft Access.Watch Live Oak Bank's Story
Executives at Live Oak Bank are industry leaders in finance and technology, and wanted to bring innovation and efficiency to their planning process and reporting process. The mandate was simple: Leverage a modern technology platform to bring efficiencies and to empower the decision makers.
Live Oak Bank chose SAP Analytics Cloud as it was built using cloud technology while leveraging the robust SAP HANA platform. The SAP Analytics Cloud for planning application provides planning and analytical proficiencies, including better collaboration, increased transparency and greater flexibility through intuitive drag, drop and filtering functionality. This means the business can make decisions faster, and enabled to easily answer questions.
VantagePoint was selected by Live Oak Bank to work with them to implement their annual plan using SAP Analytics Cloud. As a trusted SAP Partner, VantagePoint provided best practices for enterprise planning and Analytics Cloud technical know how to the project. These concepts and approaches were merged with the team’s knowledge of their business processes to create a model for the new annual plan.
Live Oak Bank has extended the business model to also manage the monthly forecasting and analytic reporting to the business – providing visibility, recognized value and increasing their return on investment.