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A close cycle process review should take into consideration where your close process is today and where it needs to be in the future
Average
Collect data
6 Days
12 Days *
Close
Adjustments
Currency I/C Subsidiaries
Report
Management Legal External
Analyze
World Class
<2 Days 6 Days More time!
Collect /Close Adjustments Reporting Analyze and Forecast
Automate and deliver Edgar & XBRL filings, Statutory filings, Tax, etc.
Data Assurance
Consolidation
Filing
Perform Reconciliations Bank Reconciliations Standard Account Recon Sub Ledger Recon Post Accruals
Automate consolidated financial reporting leveraging multiple hierarchies/dimensions and calculations (i.e. CTA, FASB, KPIs, FX, Retained Earnings, Topside Entries etc.)
Transactions
Reporting
Executives
Vendors Tax
Marketing
HR
Finance
Planning Consolidations Management Reporting
Sales
BI Operations
Customers
ERP
Chart Issues:
Many times organizations jump to the conclusion that they need to re-implement their chart of accounts or possibly all of ERP. Do you really want to do this every few years?
Tactical
Reporting:
Leverage EPM to enhance ERP reports . . . not replace them!
Source of Profit:
ERP provides the base data; EPM provides the view.
Strategic
Use of Capital:
EPM can help unlock items buried in sub-ledgers. This translates directly into managing shareholder value, cash, and working capital.
EPM Architecture
Data Sources / ETL Financial Applications Reporting & Analysis
HFM
EPMA/EAL
Other ERP
FDM
Essbase
EPMA
Planning
Ensure financial data quality Create an accountable organization Improve transparency Automate reporting Reduce the cost of compliance
Ensure financial data quality Create an accountable organization Improve transparency Automate reporting Reduce the cost of compliance
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Guided Workflow
Source Systems
Integration Adapters
EPM Systems
Prepackaged integration Data loading including supplemental data, line item detail Dimensional mapping verification Process management
Hyperion v11
Financial Management Planning Essbase
Data Marts
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Ensure financial data quality Create an accountable organization Improve transparency Automate reporting Reduce the cost of compliance
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Many clients still use spreadsheet schedules and cubicle-posted calendars to manage the close process The flow of activity is often disjointed; phone calls, e-mail, and stop-bys are the means by which the close is executed Corporate controllers lack visibility to status of key tasks due to the use of various systems, regions and departments Too often the controller is left hoping everything will work resulting in many late nights and overburdened staff
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Process Monitoring
Dashboards and ad-hoc reporting offers instant real time insight into the close processes Easily illustrates current process status Automatically updates status on process tasks Highlights which tasks are at risk or behind schedule Encourages continuous improvement to the close process
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Task Management
Reassign tasks on the fly to prevent bottlenecks Users can raise an alert to create visibility and get additional support Users can be taken directly into underlying systems to complete tasks
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Details all the tasks required for the financial close process Multiple views of close process flow
Calendar view Tasklist view Gantt view
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Easily produce a Close Binder with a complete history of the entire process Communicate critical process documentation at the task level Attach and report on backup documentation Capture responses to questionnaires and user comments Reduce audit effort and cost
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Ensure financial data quality Create an accountable organization Improve transparency Automate reporting Reduce the cost of compliance
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Enhanced monitoring and control of critical processes Multiple servers, users and tasks
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Standard Intercompany
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Ensure financial data quality Create an accountable organization Improve transparency Automate reporting Reduce the cost of compliance
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Reporting Overview
Reporting Options Financial Reporting Graphical, object-oriented formatted reporting including HTML and PDF. Web Analysis Interactive Dashboards for traffic lighting and OLAP drill/pivot
SmartView MS-Office Add-in for Excel (ad hoc analysis), PowerPoint (board presentations) and Word (10Q/K)
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Ensure financial data quality Create an accountable organization Improve transparency Automate reporting Reduce the cost of compliance
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Management and creation of critical documents is manual (Debt Covenants, 10Q/K, Board Package and Presentation, etc.) Desire to leverage existing applications in an integrated manner Must comply with the SEC mandated XBRL requirements
Year 2 requirements even more challenging
3rd party options are costly and may elongate the process
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10K/10Q
3rd parties like Bowne, Merrill are costly Niche vendors are risky
2011 MarketSphere Consulting, LLC
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Disclosure Management is a full featured XBRL solution that leverages best-in-class Oracle reporting technologies including Oracle Hyperion Financial Reporting and Oracle Hyperion Smart View for Office.
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XBRL Reporting
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Uses customer-favored MS-Office via Smart View with embedded XBRL in metadata. Single source for 10K/10Q creation and XBRL output.
10K/10Q
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Case Study
Company Overview & Situation
Leading burial products manufacturer in the world; recently acquired a machinery manufacturer The Hyperion platform implementation was initiated to solve for business needs in three major financial processes: consolidation, financial reporting, and planning and forecasting The goal of the solution was to not only meet immediate business needs, but provide a platform for future growth
Oracle Hyperion Enterprise Performance Management Applications
10K/10Q
Install software
Train
Where Do I Start?
Report sets by user type Standard Analytic Framework NFI (Non-Financial Indicators) Integrated Corporate Performance Event Driven Reporting Visualization Action-oriented Internal and External Financial Reporting Automated Cash Flow Treasury and Bank Reporting
Corporate
Business Unit
Cost Center
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Kamron Miller, Practice Director, Consolidations & Financial Reporting kamron.miller@marketsphere.com 913.707.9607