Keys to the Kingdom: Key Concepts to ARCS Application Design
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With Account Reconciliation Cloud Service (ARCS) now included in the basket of cloud goodies, the temptation is to tear the packaging and start building. However, even Close & Consolidation experts can have trouble bridging the knowledge gap between more familiar applications (e.g., HFM, FCCS, etc.) and Oracle’s “one-stop shop” reconciliation tool. Incorrect assumptions made early on in the application design can be troublesome later as the project rolls on. Instead, provide your company with a strong foundation by having a firm grasp on functionality, best practice recommendations, and setups for scalability. In this session, we will discuss how to elicit actionable requirements, review overlooked out-of-the-box functionality, and account for key design concepts in order to establish a strategic enterprise solution for both today and “tomorrow”—giving you the keys to the kingdom!
![REQUIREMENTS & DESIGN
Take-Aways for Clients
> Prepare source system files and
mappings in advanced
> Account Reconciliation target:
▪ [Reconciliation Account ID]
▪ Currency Code
▪ Amount
> Understand ‘high value’
integrations (i.e. AR, AP, FA, etc.)
Key Take Aways: Effort & Cost Factors – Data Integrations
13
Take-Aways for Partners
> Introduce Accelerators (i.e.
Location builders, utilizing
existing schedulers, etc.)
> Discuss phased approach based
on data availability
> Discuss alternative quality control
mechanisms in lieu of integrations
(i.e. Submission Rejection rules,
Copy Transactions rules,
Questions, etc.)](https://image.slidesharecdn.com/8245-keystothekingdom-keyconceptstoarcsapplicationdesign-190708190855/85/Keys-to-the-Kingdom-Key-Concepts-to-ARCS-Application-Design-13-320.jpg)
![BUILD & CUSTOMIZATION
> Custom Attributes can both provide and request information from
workflow users
Considerations for Custom Attributes
37
Calculated
Display
Input
[Business Unit Name]](https://image.slidesharecdn.com/8245-keystothekingdom-keyconceptstoarcsapplicationdesign-190708190855/85/Keys-to-the-Kingdom-Key-Concepts-to-ARCS-Application-Design-37-320.jpg)
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Keys to the Kingdom: Key Concepts to ARCS Application Design
- 2. Keys to the Kingdom: Key Concepts to Account Reconciliation Application Design Tuesday June 25, 2019 Nick Boronski Product Manager – Financial Close & Consolidation
- 3. Requirements & Design Build & Customization New Phases & Rebuild AGENDA
- 4. ABOUT THE SPEAKER Nick Boronski > Product Manager > Active blogger and Cloud Customer Connect participant > > “Runs in the family” > Born and raised in CT > Wheaten terrier owner → Munchkin > Pro-Am ballroom dancer Follow me @ PocketAce_NB
- 5. COMPANY HISTORY 5 2001 Hyperion Planning introduced to the market (1st Essbase embedded app) 2007 Enhanced Consolidation practice with world class capabilities 2009 HPCM introduced to the market – Ranzal design review 2010 Established Strategic Finance practice to complement our Planning expertise 2012 Exalytics & Performance Testing Lab Establish multi product focus & advisory Proven business analytics leader with a history of successful implementations and continuous growth 1996 Ranzal & Associates Founded 2004 Acquired by Edgewater 2016 Deepened geographic footprint and EPM Cloud expertise 2015 Developed Discovery & Modern Data Architecture Approach 2014 Introduced Hosting, Support & Managed Services Offerings 2018 Ranzal & Alithya join forces to form an EPM/ ERP Cloud Powerhouse
- 6. ALITHYA OVERVIEW – EPM & ANALYTICS 6 Comprehensive Business Solutions Our solutions drive improved business performance through better decision making, strong customer engagement, and optimized operations Deep Partnership Drives Customer Value Adaptable Deployment Models Diverse Client Portfolio & Industry Expertise RetailEnergy/ Utilities Team Highlights Multiple Oracle ACEs Seasoned delivery team with avg 8 years serving clients Experienced management team with avg 15 years in the company Certified Cloud Resources Enterprise Performance Management (EPM) Analytics Financial Services Technology CPG and Manufacturing Healthcare Outstanding Achievement in Big Data 100 Most Promising Big Data Solutions Providers 1,000+ Clients 2,000+ Projects20+ Years Advisory Services Implementation Services Technical Services Hosting & Support Training Services Intellectual Property
- 7. Requirements & Design Build & Customization New Phases & Rebuild AGENDA
- 8. REQUIREMENTS & DESIGN 8 How do I save money?What factors drive cost in an Account Reconciliation application implementation?
- 9. REQUIREMENTS & DESIGN >Consider the cost of data integrations Effort & Cost Factors – Data Integrations 9 Reconciliation Application 74% Data Integrations 13% Infrastructure 3% Project Management 10% ARM Ex. #1 –2017
- 10. REQUIREMENTS & DESIGN >Consider the cost of data integrations Effort & Cost Factors – Data Integrations 10 Reconciliation Application 65% Data Integrations 25% Infrastructure 1% Project Management 9% ARCS Ex. #2 – 2018
- 11. REQUIREMENTS & DESIGN >Consider the cost of data integrations Effort & Cost Factors – Data Integrations 11 Reconciliation Application 46% Data Integrations 50% Infrastructure 0% Project Management 3% ARCS “Quick Start” Ex. #3 – 2019
- 12. REQUIREMENTS & DESIGN Effort & Cost Factors – Data Integrations 12 Understand, educate, and set expectations early during Requirements Gathering >From past projects, data integration costs ranged anywhere from 15% - 50% of project costs >Average data integration cost: ~25% of project cost
- 13. REQUIREMENTS & DESIGN Take-Aways for Clients > Prepare source system files and mappings in advanced > Account Reconciliation target: ▪ [Reconciliation Account ID] ▪ Currency Code ▪ Amount > Understand ‘high value’ integrations (i.e. AR, AP, FA, etc.) Key Take Aways: Effort & Cost Factors – Data Integrations 13 Take-Aways for Partners > Introduce Accelerators (i.e. Location builders, utilizing existing schedulers, etc.) > Discuss phased approach based on data availability > Discuss alternative quality control mechanisms in lieu of integrations (i.e. Submission Rejection rules, Copy Transactions rules, Questions, etc.)
- 14. REQUIREMENTS & DESIGN Effort & Cost Factors – Types of Reconciliations 14 > Identify reconciliations from an application standpoint, in addition to a business process standpoint
- 15. REQUIREMENTS & DESIGN Effort & Cost Factors – Types of Reconciliations 15 > View reconciliations from the data integration angle > Spoiler: This will drive your Format naming convention
- 16. REQUIREMENTS & DESIGN Effort & Cost Factors – Types of Reconciliations 16 Consol Plan System-to-System Topside Adjustments Profitability Recons Operational Recons Add’l Finance Recons New Processes > Look beyond General Ledger balance sheet reconciliations
- 17. REQUIREMENTS & DESIGN Take-Aways for Clients > Just ask other business groups (i.e. other finance groups, IT, etc.) what reconciliations are being performed today > Reconciliations are always a pain point > What reconciliations would need to be included for the application to be a fully comprehensive solution? ▪ Tracking-only Effort & Cost Factors – Types of Reconciliations 17 Take-Aways for Partners
- 18. REQUIREMENTS & DESIGN Picking the Right Tool 18 >Pick the right tool for scalability
- 19. REQUIREMENTS & DESIGN Picking the Right Tool 19 Account Reconciliation ARM (On-Premise) Cloud suite “look & feel” On-prem suite “look & feel” / FCM
- 20. REQUIREMENTS & DESIGN Picking the Right Tool 20 Account Reconciliation ARM
- 21. REQUIREMENTS & DESIGN Picking the Right Tool 21 ARMAccount Reconciliation
- 22. REQUIREMENTS & DESIGN Picking the Right Tool 22 ARMAccount Reconciliation
- 23. REQUIREMENTS & DESIGN Picking the Right Tool 23 ARMAccount Reconciliation
- 24. REQUIREMENTS & DESIGN Picking the Right Tool 24 Account Reconciliation ARM (On-Premise) Cloud suite “look & feel” Reduced infrastructure cost, automatic version updates Cloud Data Management (CDM) or FDMEE; EPMAutomate, REST API Task Manager (formerly FCCS) out- of-the-box Integration Tasks Pre-loaded formats, reports, and individual Academy videos per topic On-prem suite “look & feel” / FCM Infrastructure and patching FDMEE FCM Basic Tasks Blank application start, with one overview video
- 25. REQUIREMENTS & DESIGN Take-Aways for Clients > Make sure that the selected solution is scalable for future needs > Transaction Matching requirements > General Ledger journal requirements > Integration with other Cloud products Picking the Right Tool 25 Take-Aways for Partners > There’s only one solution that is truly scalable… > Strongly advise Cloud solution
- 26. Requirements & Design Build & Customization New Phases & Rebuild AGENDA
- 27. BUILD & CUSTOMIZATION > Profile Segments are not dimensions Account Reconciliation Cloud is a unique tool 27
- 28. BUILD & CUSTOMIZATION > The ‘Valid (Detailed)’ system attribute is your best friend ::Quick Detour:: Valid (Detailed) Attribute 28
- 29. BUILD & CUSTOMIZATION > Summary Profiles are NOT Group Reconciliations which are NOT consolidations > Group Reconciliation: multiple balances in Cloud Data Management (CDM) that load to a single reconciliation in Account Reconciliation > Summary Profile: individual ‘child’ reconciliations are performed in Account Reconciliation, then an additional Summary Profile reconciliation is performed ▪ Unique workflow, attributes, etc. ▪ Limit is up to 100 Profiles ▪ Does not automatically generate balance Account Reconciliation Cloud is a unique tool 29
- 30. BUILD & CUSTOMIZATION Account Reconciliation Cloud is a unique tool 30
- 31. BUILD & CUSTOMIZATION Account Reconciliation Cloud is a unique tool 31
- 32. BUILD & CUSTOMIZATION > Summary Profiles are NOT Group Reconciliations which are NOT consolidations > Group Reconciliation: multiple balances in Cloud Data Management (CDM) that load to a single reconciliation in Account Reconciliation > Summary Profile: individual ‘child’ reconciliations are performed in Account Reconciliation, then an additional Summary Profile reconciliation is performed ▪ Unique workflow, attributes, etc. ▪ Limit is up to 100 Profiles ▪ Does not automatically generate balance > Roadmap: “Subsegment Enhancement”: Deeper level of ‘child’ balances within Account Reconciliation user interface (i.e. new tab) Account Reconciliation Cloud is a unique tool 32
- 33. BUILD & CUSTOMIZATION Account Reconciliation Cloud is a unique tool 33 > Loaded Balances exist separately from the Reconciliations > Deleting the reconciliation will not delete the data > On the other hand, data loads can be “prepped” by administrator prior to reconciliation creation
- 34. BUILD & CUSTOMIZATION > To Delete data for a Period: > Delete and recreate the Period ▪ Delete all Reconciliations for the Period ▪ Remove reference as ‘Prior Period’ > Load a “Full Refresh” from Import Data within Periods 34 ::Quick Detour:: Deleting Data
- 35. BUILD & CUSTOMIZATION Take-Aways for Clients > Account Reconciliation solutions require unique design, despite looking similar to other Enterprise Performance Management (EPM) solutions Account Reconciliation Cloud is a unique tool 35 Take-Aways for Partners > BUT, Account Reconciliation solutions do look and feel like other EPM solutions to the end- user, and should be designed as a seamless Oracle experience > Account Type custom attribute > Connections card
- 36. >Why do Formats matter? >Method >Display >Standardized Artifacts >Unique Settings BUILD & CUSTOMIZATION 36 Considerations for Formats
- 37. BUILD & CUSTOMIZATION > Custom Attributes can both provide and request information from workflow users Considerations for Custom Attributes 37 Calculated Display Input [Business Unit Name]
- 38. BUILD & CUSTOMIZATION Considerations for Custom Attributes 38 > Custom Attribute Locations > Format level – Summary > Format level – Transaction Detail > Format level – Action Plans > Profile level – Summary
- 39. BUILD & CUSTOMIZATION Considerations for Custom Attributes 39 > Custom Attribute Locations > Format level – Summary > Format level – Transaction Detail > Format level – Action Plans > Profile level – Summary
- 40. BUILD & CUSTOMIZATION Building Accelerators Inventory 40 Summary (Format or Profile) Transaction (Adjustments to Source, Explained Balanced, etc.) Action Plan > Rules at different locations
- 41. BUILD & CUSTOMIZATION > Accelerators across products Building Accelerators Inventory 41 > Unexplained Diff is 0 > GL is 0 > No activity for Period > Unexplained Diff is 0 > GL is not blank > Risk Rating is not High > Period is not quarter close
- 42. BUILD & CUSTOMIZATION > Some Common Rules: > Auto-Submit ▪ Skip the Preparer, but include the Reviewers > Auto-Approve per Period ▪ Auto reconcile for some months, but not all > Require Attachment for Submission > Require Commentary for Rejection > Automatically copy Transactions from Prior Period ▪ Save the Preparer the extra ‘click’ per Period > Review Oracle white paper on creating dynamic Custom Attributes > Ex. Require explanation if there is a 10% flux equal or greater than $1M Building Accelerators Inventory 42
- 43. BUILD & CUSTOMIZATION Take-Aways for Clients > Codify your requirements as an “If..., then…” sentence > Ex. “If the reconciliation is more than 3 days late, then send an email to manager” > Standardize whenever possible > Ask your Partner what they’ve seen at other clients Building Accelerators Inventory 43 Take-Aways for Partners > Always ask “What does internal/external audit require?” > Oracle Cloud Customer Connect is your best friend
- 44. Requirements & Design Build & Customization New Phases & Rebuild AGENDA
- 45. REBUILD 45 >Everything can be rebuilt! BUT…”there’s no such thing as a free lunch”
- 46. REBUILD Rebuilding Artifacts: Changing Profile Segments 46 > This will break Prior Period links, references, and potentially data integration mappings
- 47. REBUILD > No “clean” way to remove Custom Attributes > Any reference to any existing artifact will prevent deletion > Create an archiving naming convention Rebuilding Artifacts: Changing Custom Attributes 47
- 48. REBUILD Take-Aways for Clients > Each Period in an Account Reconciliation solution should be viewed as standalone and, therefore, you can always change something going forward while leaving the past locked > In this way, Account Reconciliation solutions are modular and can be modified as needed ▪ Ex. Account Analysis in Phase 1, and Balance Comparison in Phase 2 > Be consistent with naming convention Rebuilding Artifacts 48 Take-Aways for Partners
- 49. NEW PHASES > What is a “Quick Start”? > Fixed scope offering > Follow-Ups to “Quick starts” / Phase 1 > Global rollouts > Additional Data Integrations > Out-of-the-box Integrations to Task Manager (formerly FCCS Close Manager) > Custom Integrations to Master Data Management (formerly EDMCS) What Comes Next 49
- 50. Requirements & Design Build & Customization New Phases & Rebuild AGENDA
- 51. OTHER THINGS I’VE WRITTEN AND SAID > Blog Posts on Alithya site (cross-posted on #DataRestless site): > “A Safe Step into the Cloud: The Argument for ARCS” > Modularity Series ▪ New Scope, Modifications, Redesign, Automation > Patch Review Series ▪ “Patch 1812 and Patch 1811 Review: Gazing into the Crystal Ball” > Webinars: > “The Wright Way into the Cloud” on OATUG Cloud Week 2018 > “Think Outside the Close: PCM Reconciliations in ARCS” - 2019 51 Follow me @ PocketAce_NB
- 52. 16 SPEAKER SESSIONS 52 Visit us at Booth # 113 Monday, 6/24: • 11:00am – 11:30am (202): Become a RESTful Iron Man with ARC (the Application, Not the Reactor) • 11:00am - 11:30am (204): Supplemental Data in the Cloud • 2:15pm - 3:15pm (205): Best Practices for Designing and Building Integrations • 3:45pm - 4:45pm (611): My Favorite Calc Code Tuesday, 6/25: • 8:50am - 9:50am (204): Keys to the Kingdom: Key Concepts to ARCS Application Design • 10:00am - 11:00am (211): Client Success Story - Oracle FDMEE is the Cloud Data Hub at Legg Mason • 11:45am - 12:45pm (611): I Can do WHAT with PCMCS? Features and Functions, Business Benefits, and Use Cases • 2:15pm - 3:15pm (211): EPM Cloud Integration at CareFirst • 2:15pm - 3:15pm (611): Empowering Users with Analytical MDX Wednesday, 6/26: • 10:15am - 11:15am (201): EPRCS: The reporting Swiss Army Knife • 10:15am - 11:15am (602): Connected Planning Using EPM Cloud at Opus Group • 11:45am - 12:45pm (211): Case Study: Using EDMCS to Solve Master Data Challenges • 11:45am - 12:45pm (201): EPM Data Integration Panel • 11:45am - 12:45pm (6A): Trend-Based Connected Planning at Vitamix • 3:30pm - 4:30pm (204): A 2020 Vision for EPM Project Management Thursday, 6/27: • 9:30am – 11:00am (609): Deep Dive: Financial Close: The Best of Both Worlds - Welcome to the Hybrid Close
- 53. Q&A 53 [email protected] You can email us questions: Read our blog for insight and find answers to your questions: ranzal.blog Visit our website to find the right solution and learn how we can help you: alithya.com/oracle
- 54. CONTACT INFORMATION 54 Alithya 1025 Westchester Avenue, Suite 108 White Plains, NY 10604 Tel (914) 253-6600 [email protected] 20 West Kinzie Street Suite 13046 Chicago, IL 60610 200 Harvard Mill Square Suite 320 Wakefield, MA 01880 Nick Boronski Product Manager – Financial Close & Consolidation 203.921.9532 [email protected] Follow me @ PocketAce_NB