Financial Close Mgmt - OOW 2014 - Customer Success Stories
- 1. 1 Overview of ARM & Customer Success Stories Alexandre Seran
- 2. 2 Introduc;on to ADI Strategies § Founded 2002 • Oracle Pla+num Partner focused on EPM, OFSAA & BI • Financial Planning & Accoun+ng creden+als • History of working with technology and advisory services for 15+ years • Global delivery capabili+es with 140+ consultants § Full stack of solu;ons and services from Finance Transforma;on to Maintenance Support § Proven program management methodology, tools, templates to accelerate project results § Selected by Oracle as the winner of the “2012 Specialized Partner of the Year” for North America Finance Transformation Health Checks Roadmap Development COE/PMO/Compliance Planning Budgeting Forecasting Solution Architecture Financial Consolidation Enterprise Reporting Profitability Analytics Financial Close Data Governance & Master Data Management ETL Business Intelligence Infrastructure Knowledge Transfer, Training and Change Management Maintenance Support ImplementationServices
- 3. 3 Agenda • Introduc;ons • Financial Close Suite Overview • Case Studies of Financial Close Suite Implementa;on • Project Considera;ons • Q&A
- 4. 4 The “Extended” Financial Close Process Sub Ledger Close General Ledger Close Data Assurance Consolidate Internal Management Reporting External Financial Reporting Filing Close sub ledgers into GL (AR, AP, FA, etc.) Perform Reconcilia;ons and Post Accruals Deliver self service financial repor;ng to the organiza;on Create external reports with disclosures and financial data Automate and deliver external & statutory filings Gather and validate complete data sets to support all financial repor;ng needs Automate consolidated financial reports leveraging mul;ple hierarchies and calcula;ons Consolidation
- 5. 5 Account Reconcilia;on Manager • Account Reconcilia;on Management (ARM) • One single repository via ARM portal • Manage and Monitor account reconcilia+on process • Provide real-‐+me visibility into the performance of reconcilia+ons • Control and Compliance
- 6. 6 Process Leveraging ARM Account Reconciliation Manager Dashboard & Reporting Preparer and Reviewer Corporate accounting D+0 D+8 Internal audit ERPI ARM Admin Manual Recon Auto Recon Oracle EBS GL Account Mapping Drill Back to GL
- 7. 7 Case Study: Financial Close Management Global Manufacturing Company Profile • Fortune 200 public company • Worldwide leader in discrete with over 250+ legal en++es, 2,000+ users and 2 million accounts to be reconciled • Oracle EBS is the primary ERP. Sub-‐ledger closed by respec+ve regional owners (support by shared services) Results: • End-‐to-‐end visibility into close process flow chart and monitoring each month end. • Iden+fica+on of cri+cal path and frequently delayed work tasks • Six-‐sigma projects ini+ated for process improvements leading to faster close cycles • Ease in ability to monitor close process and take correc+ve ac+ons to prevent impact on downstream close deadlines Situa;on • Complex, +me consuming, manual intercompany matching process which oen impacted close deadlines • Manual, resource-‐intensive tracking of EBS close process. No single group visibility of complete set of close ac+vi+es • Lack of visibility in close process once data loaded into HFM Approach • Detailed exercise to iden+fy close ac+vi+es across mul+ple sites and iden+fy dependencies and cri+cal paths • Phased roll out of close manager by iden+fying cri+cal processes and loca+ons which impacted close comple+on • Focus on providing visibility into close ac+vity progress to iden+fy sites and ac+vi+es causing delays frequently
- 8. 8 Case Study: Financial Close Management Global Manufacturing Company Profile • Fortune 200 public company • Worldwide leader in discrete with over 250+ legal en++es, 2,000+ users and 2 million accounts to be reconciled • Oracle EBS is the primary ERP. Sub-‐ledger closed by respec+ve regional owners (support by shared services) Results: • Well integrated, automated & efficient reconcilia+on process governed by Audit team and managed by EPM team • Reduced +me and effort on reconcilia+on with reduced risk of compliance with high degree of auditability • Highly scalable design to be globally rolled out • Enhanced repor+ng and analy+cs Situa;on • Diverse, manual mechanisms for account reconcilia+on within mul+ple ERP systems. • Large no of reports in EBS for reconcilia+on causing load during close process • Weak traceability, auditability and security controls leading to data integrity challenges Approach • Chose complex pilot site with variety of reconcilia+ons and focus on automa+on and process improvement • Holis+c design of the EPM Footprint allowed to Leverage DRM for reconcilia+on metadata management process • Phased roll out by loca+ons/legal en+ty/ business unit combina+ons • Two-‐month defined loca+on roll out template.
- 9. 9 Case Study: Financial Close Management Global Manufacturing
- 10. 10 General Project Considera;ons Success Plan forward • Plan your Hardware ahead for the Growth and the required business SLA. • Think Holistically about the EPM Suite toolset and the right product for the need • Data Integration is Key. Think DRM, FDMEE, EAL, ODI… Collaboration • Engage all different stakeholders • While Finance driven, The infrastructure and technology layer is key • Review validation and approval process with Auditors early on Involvement • Hands on Engagements • Don’t rely fully on Consultants • Involve • Finance, IT and Implementation Partner work hand in hand and are equally accountable
- 11. 11 Typical Project Timeline & Ac;vi;es Define • Identify Stakeholders, Objectives & Success Criteria • Review existing processes and identify efficiency metrics • Infrastructure setup • Project Team Training • Finalize Requirements Design • Configuration Workshops • Design Data Interfaces and Application Artifacts • Future processes design • Change management and training plan • Obtain Signoff Build • Build financial close workflow and tasks • Build integration tasks system interfaces • Build data interfaces and mapping definitions • Data loads and validations cycles • Conference room pilots Train & Test • Create training materials and test scripts • Conduct system testing • Conduct power user training • Conduct end user trainings • User acceptance testing Deploy • Readiness assessment • migration to Production • Turnover & Go Live Support • Celebration 4-6 Months typical timeline
- 12. 12 APPENDIX Additional Case Studies
- 13. 13 Case Studies: Diverse Company Profiles Agribusiness • Publicly traded Innova+ve Global Food producer • Global implementa+on of Financial Close Manager and Account Reconcilia+on Management • Full GL &HFM integra+on. Looking to leverage against planning in future phase • Close Manager module: • 100 tasks • 25 users • ARM module: • JDE GL with Na+ve Adapter Integra+on • 200 reconcilia+ons • 6 formats • 25 User • 1 Administrators • Implementa+on: 3 months Northeast Manufacturing Company • Publicly traded 2.9 B Manufacturing Company Opera+ng in 19 different countries • Early Adopters of ARM/FCM • Pilot approach with Corporate Reconcilia+ons. • Close Manager module: • 300 tasks • 70 users • Account Reconcilia+on module: • SAP GL with Open Adapter Integra+on • 500 reconcilia+ons • 15 Formats • 50 users (internal / external) • 2 Administrators • Implementa+on: 4 months
- 14. 14 Case Studies: Diverse Company Profiles World Leader in Green Energy • Publicly traded with Na+onal and Interna+onal presence • Global implementa+on of Financial Close Suite • Complex compliance requirements (SOX, FERC,…) • Close Manager module: • 1200 tasks • 35 users • ARM module: • Ms Navision with Open Adapter Integra+on • 600 reconcilia+ons • 12 formats • 30 User • 2 Administrators • Implementa+on: 3 months Medical Insurance Provider • Leading health care company that offers a wide range of insurance products and health and wellness services • Corporate implementa+on of Financial Close Manager • Close Manager module: • 500 tasks • 25 users • ARM module: • EBS GL with Na+ve Adapter Integra+on • 600 reconcilia+ons • 6 formats • 25 User • Implementa+on: 3 months
- 15. 15 ORACLE EPM. OFSAA. BI. ADVISORY. Thank You Alexandre Seran Vice President 773-828-9414 (Mobile) [email protected] NOTICE: Proprietary and Confidential. This material is proprietary to ADI Strategies and contains trade secrets and confidential information which is solely the property of ADI Strategies. This material is solely for Client's internal use. This material shall not be used, reproduced, copied, disclosed, and transmitted, in whole or in part, without the express consent of ADI Strategies.