THE

MODERN
BUSINESS
CLOSE
Agenda
• Introduction
• About the Speakers
• Current Consolidation Challenges
• Why Financial Consolidation & Close Cloud
Service (FCCS)?
• FCCS Demo
• Consolidation of Single-Currency Company
The Modern Business Close Series
• The Modern Business Close: Employing Oracle’s FCCS to
Overcome Today’s Close Challenges
• REPLAY AVAILABLE ON OAUG SITE

• The Modern Business Close: Consolidate your Financials with

Oracle’s FCCS
• REPLAY AVAILABLE ON OAUG SITE

• The Modern Business Close: Consolidation and Close for

Multinational Organizations
• REPLAY AVAILABLE ON OAUG SITE
About the Speakers
RJ Linehan 917.509.2107

Innovus, Managing Partner rj@innovuspartners.com

linkedin.com/in/rjlinehan
@rjlinehan

• Professional Summary
• Senior architect and implementation consultant Client Experience
for EPM/BI solutions
• 17+ years combined industry and EPM/BI
consulting experience
• Senior roles in over 50 Enterprise Performance
Management (EPM) and Business Intelligence
(BI) projects.
• Qualification Summary
• Expert in architecting and implementing
EPM/BI solutions for Fortune 1000 companies.
• OPN Certified Specialist in Planning and
Essbase
• Speaker at Oracle/Hyperion Conferences such
as: Solutions, OAUG, ODTUG, Collaborate and
other industry conferences
• Board Member of the OAUGNYC user group.
 Our Focus Our Services
• Innovus is a full service provider of • Configure - Help our customers
Oracle’s Enterprise
implement Cloud EPM, ERP & BI
• Enterprise Performance Management Performance
Management Solutions
(EPM),
• Business Intelligence (BI) and (EPM)
• Enterprise Resource Planning (ERP)
• Adopt – Transfer Knowledge to
solutions Business our customers so they can manage
• Our Consultants are Oracle certified Intelligence their solutions
• We are an Oracle Gold Partner and active (BI)
in local and national Oracle User Groups.
Enterprise
Resource
• Support – Provide Support to
• Our Goal is to establish a strategic Planning our customers to ensure solution
partnership with our clients to champion (ERP) success
their vision of Business Analytics and help
navigate the complexities of delivering • Extend – Enhance our customers
that vision across the enterprise. solutions to improve their total cost
of ownership
Thomas Simkiss, JD, CPA
Director of Cloud Solutions
• Professional Summary
• 22 Years Industry Experience Mobile: (215) 990-9001
- Accounting, Consulting, Operations Email: Tom.Simkiss@Creoal.com

• Over 60 Full Cycle Implementations Website: www.Creoal.com

Twitter: @ThomasSimkiss
- EBS R12 Certified General Ledger Specialist LinkedIn linkedin.com/in/thomassimkiss/
- Oracle Fusion General Ledger Specialist Prior Experience: Project Experience:
- Oracle Fusion Payables Specialist
• 18 Full Cycle Cloud ERP Implementations
• 2017 OAUG Start Presenter
• Oracle ACE
• Qualification Summary
- CPA in New Jersey
- Member of the Pennsylvania,
- NJ & American Bar Association
- Twitter: @ThomasSimkiss
• Creoal Consulting is a business systems integrator and
management consultant firm with a 12-year history of
success in program management support and delivery of
Federal Government programs and system initiatives. We
are a leading edge provider for full life cycle information
technology and ERP support services to the Public Sector
with deep applications product and market expertise.
• Creoal’s management team includes four partners
averaging 23 years of experience leading large-scale
systems integration and implementation efforts. Through
this leadership core, Creoal provides the agility and
responsiveness of a small business with the experience of
a large-scale system integrator.
• Based in Bethesda, MD we are an Oracle Gold Partner
with a broad install base of customers, all of which are
referenceable.
Consolidation Challenges
Challenges Facing Finance Organizations

Source: Accenture’s High Performance Finance Study – no date

Challenges Facing Finance Organizations
Complex legacy systems and environment

55%

Managing complex needs of all stakeholders

48%

Managing new and complex risks

46%

Difficulties in standardizing finance processes due to complex

operating models
23%

Source: Accenture’s High Performance Finance Study – no date

 Today’s Finance Organization
Role CFO

Treasury Tax Controller FP&A Audit IT

Debt Federal AR/AP/FA Planning

Responsibility

Cash
State & Local GL Forecasting
Management

Sales & Use Consolidation Analytics (BI)

Fin Rpt Mgt Rpt

The Financial Close
Financial Close and Consolidation System

Generate Final
Reporting
Package

Track the
Close

Controller
AP General AR
Subsystem Ledger Subsystem

AP Manager Acct Manager AR Manager

Use Case 2 – The Financial Close
• Target Business Need
• Automating Financial Close
• Primary Actors
• Single Parent
• Level of Complexity
• Simple
• FCCS Key Features
• Close Calendar
• Data Loads
• Consolidation
• Reports
• Journals
• Supplemental Data
Use Case 2 – Multiple General Ledgers / Single Currency
Financial Close and Consolidation System
Generate Final
Reporting
Package

Record
Eliminations and USD
Adjustments
Subsidiary 1

Review
USD Parent Preliminary
Reports

Transfer
Balances

USD
Track the Subsidiary 2
Close
Use Case 2 – Multiple General Ledgers / Single Currency
• Target Business Need
• Multiple GL Systems – Single Currency
• Primary Actors
• Single Parent
• Level of Complexity
• Medium
• FCCS Key Features
• Close Calendar
• Data Loads
• Consolidation
• Reports
• Journals
• Supplemental Data
Use Case 3 – Multiple General Ledgers / Multi Currency
Financial Close and Consolidation System
Generate Final
Reporting
Package

Record
Eliminations and USD
Adjustments
Subsidiary 1

Review
USD Parent Preliminary
Reports

Transfer
Balances

GBP
Track the Subsidiary 2
Close
Use Case 3 – Multiple General Ledgers / Multi Currency
• Target Business Need
• Multiple GL Systems – Multi Currency,
Consolidation, Revaluation, Translation
• Primary Actors
• Single Parent
• Level of Complexity
• Medium to Hard
• FCCS Key Features
• Close Calendar
• Data Loads
• Consolidation
• Reports
• Journals
• Supplemental Data
Why FCCS?
What is the FCCS value proposition?

It depends on who is asking the

question…
FCCS Value Proposition - IT
• Decrease cost per user
• Eliminate need for hardware upgrades
• Remain current with continuous software upgrades
• Access to new application enhancements
• Simplified, self-serve automation
• Reduced administration
• Painless integration leveraging cloud platform
FCCS Value Proposition - Finance
• Lower audit risk
• Automate consolidation and reconciliation
• Provide clean, auditable reports
• Improve and enhance the reporting process
• Valuable, prebuilt dashboards and reports
• Report outputs in Excel, Word, PowerPoint, PDF
• Integrate close process with consolidation and general ledger
systems creating transparency
• Small step to Cloud
• Keep legacy and disparate systems (if required) and use a single
consolidation and reporting platform
 FCCS Demo

Consolidation of Single-Currency Company

Demo Overview

• Reporting Capabilities
• Integration Features
• Journals
• Close Manager Integration
Reporting

Dashboards
Reporting – Income Dashboard
Reporting – Balance Sheet Dashboard
Reporting – Cash Flow Dashboard
 Reporting

Production Reporting
Reporting – Income Statement Report (HTML)
Reporting – Income Statement Report (PDF)
Reporting – Income Statement Report (XLSX)
Reporting – Income Statement Report (DOCX)
 Reporting

Smart View Reporting

Reporting – Income Statement Report (XLSX)
Data Input

Forms
Data Input – Forms
Data Input – Forms
Demo - Integration
• Source System Trial Balance
• FCCS Data Management
• Source/Target Configuration
• Mapping
• Data Load Work Flow
• Validation Check
• FCCS Trial Balance
Typical Trail Balance

• Employ existing interfaces

• Use flexible source system
formats
• User-maintained integration
• Leverage MS Excel
 Data Integration

Source/Target Configuration
Integration – Target Application
Integration – Import Format
Integration - Location
 Data Integration

Mapping / Data Load Work Flow

Integration – Data Load Rule
Integration – Data Load Mapping
Integration – Data Load Work Flow
Data Integration

Validation Check
Integration – FCCS Trial Balance
Journals
Journals – IC Sales Adjustment
 Close Manager

Close Tasks / Reporting

FCCS - Dashboards

• Intuitive Dashboards
• Identify late tasks with one click
• Focus on fixing problems and ‘Closing
the Books’
FCCS - Dashboards

• Real-time
Performance Updates
• Measure Compliance
• Identify Problem
Childs

Close process insights…

Global Task Views

Calendar View
Task List View
Gannt Chart View