Finance and IT are coming together like never before to transform global businesses.

From streamlining audit processes to gaining better business intelligence and enhancing reporting, new innovations are allowing CFOs to further drive long-term revenue growth and achieve significant cost-savings.

However, implementing new financial innovations can be highly challenging, and requires the right collaboration efforts to bring these types of projects to life in a timely and cost-effective manner.

After more than 15 years of using PeopleSoft as its core ERP system, Polycom decided to transition over to Oracle E-Business Suite, which now provides a more streamlined solution for front-end supply chain management down to financial reporting.

This complex integration required the migration and implementation of 16 systems across Polycom’s 60 global locations, with roughly one-quarter of its employee that work exclusively from home offices. Video collaboration played a critical role in bringing this implementation to life.

More than 300 employees and consultants collaborated via virtual workspaces and collectively logged more than 6,000 hours of video collaboration. In addition, the team used everything from document sharing – project information, detailed technology designs and cutover plans – to video in a co-located “war room” at Polycom’s headquarters.

The final result was an implementation that was completed on time and within budget, which beat the industry standard of 70 percent of all EPR implementations experiencing deployment delays and failing to hit expected deadlines.

Be sure to learn more about this implementation, and how technology is transforming the role of finance for global organizations, in this WorkSpace Today podcast interview with Scott McCool, Chief Information Officer and Group Vice President of Information Technology at Polycom.