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Improving Your Fiscal Close Process. Jeff Jacoby Senior Sales Consultant – Oracle EPM January 21, 2009. Agenda. The Fiscal Close Challenge Financial Consolidations At - A - Glance Compliance Reporting Consolidation Demonstration Q & A. World Class . 6 Days. <2 Days. More time!.

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Improving Your Fiscal Close Process

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Improving Your Fiscal Close Process

Jeff Jacoby

Senior Sales Consultant – Oracle EPM

January 21, 2009


Agenda

  • The Fiscal Close Challenge

  • Financial Consolidations At - A - Glance

  • Compliance

  • Reporting

  • Consolidation Demonstration

  • Q & A


World Class

6 Days

<2 Days

More time!

Analyze and Forecast

Collect

Close

Adjustment

Report

The Fiscal Close Challenge

Reporting Goal: High Value While Reducing Cycle Times

6 Days

12 Days

Average

Adjustments

Currency

I/C

Subsidiaries

Report

Management

Legal

External

Analyze

Collect data

Close

Source: Hackett Group Benchmarking -Solutions Book of Numbers


Financial Consolidation At-a-Glance

Calculate & Adjust

Collect Data

Report

  • Gather from multiple & disparate applications

  • Store data in a centralized repository

  • Apply FASB and IFRS consolidation rules

  • Perform currency translation & aggregation

  • Generate financial statements, managerial reports, and perform ad hoc analysis

“Consolidations applications are seeing a resurgence after what was considered a maturing of this market, driven primarily by compliance issues in the United States (drivenby Sarbanes-Oxley) and worldwide (driven by the pending International Financial Reporting Standards).”-- Kathleen Wilhide and Henry D. Morris


Collect Data

Calculate & Adjust

Report

Business Pressures

  • More Stringent Regulations

  • What can I do to accelerate reporting as required by statutory regulations?

  • How do I improve transparency, accuracy, and auditability?

  • Mergers & Acquisitions

  • How can I ensure new acquisitions are quicklyintegrated into my company?

  • How can I simplify keeping my books in synch with re-orgs?

  • Demand for Growth

  • How can I improve visibility into overall enterprise performance?

  • How can I help my managers identify opportunities to improve profitability?


Operational Challenges

Subsidiary 1

  • Accounting Differences

  • Charts of accounts

  • Accounting methods

  • Manual, Error-Prone Processes

  • Data extraction, transformation, and load

  • Adjustments and eliminations

  • Currencies

  • Calendars

¥

Subsidiary 2

Parent Company

£

$

Consolidation

  • Complex Ownership Structures

  • Minority interest

  • Cross holding

  • Multiple, Fragmented Systems

Joint Venture

  • Intercompanytransactions

Rs

Affiliate

Lengthy close process with weak internal controls

Rigid systems that cannot exploit new opportunities

Disconnect between strategy and execution


Potential Approaches

General ledgers/

ERP systems

Basic reporting and consolidation functionality

Spreadsheets

Built for individual, not

enterprise tasks, no audit trail

OLAP tools

“Build” approach, viable way

to address specific customer

requirements

Packaged applications

“Buy” approach, includes best practices functionality, fast time to benefit


#1

Financial Consolidation, Reporting and Analysis

Oracle’s Hyperion Financial ManagementMarket-Leading Financial Consolidation and Reporting Application

  • FEATURES

  • Easy to Integrate

  • Financial Data Quality

  • Complete Audit Trails

  • Flexible Workflow

  • Powerful Reporting

  • Finance Owned & Operated

  • BENEFITS

  • Confidence in the Numbers

  • Reduce Cycle Time

  • Automate Collection & Validation

  • Lower Cost of Compliance

  • Speed and Agility


Why Hyperion Financial Management?

  • Improved Close Process – Speed and Visibility

  • More Controls – Auditability

  • Better Reporting – Flexibility


Financial Data Quality ManagementThe Only One of it’s Kind!

GUIDED WORKFLOW USER INTERFACE

SOURCE

SYSTEMS

  • Data cleansing and transformation

  • Task scheduling

  • Text and document archive

  • Audit review

  • Data staging

EPM Adapters

DATA PREPARATION

SERVER

EPM SYSTEMS

  • Prepackaged integration

  • Data loading including supplemental data, line item detail

  • Dimensional mapping verification

  • Process management

  • Hyperion Financial Management

  • Hyperion Planning

  • Hyperion Essbase

  • Hyperion Enterprise

  • Data Marts

  • Excel

  • ERP

  • G/L

  • Flat files

  • ETL

  • Oracle eBus


Addressing Compliance Needs


Drill-through to General Ledger DetailsInsight into Action in a Single System

Hyperion Financial ManagementHyperion Planning

Oracle EPM System

Hyperion FDM

Analyze Root Cause


Financial Reports

Web-based production report writer for producing highly formatted reports such as Financial Statements.

Reports are easily developed and maintained by business

Reports can combine data, graphs, text, and images .

Flexible output options: HTML, PDF, and hardcopy.

Reports can be batched into books and automated to meet monthly, quarterly, and yearly reporting requirements.

Flexible Reporting Options

  • Dashboards

  • Web-based, interactive reporting and analysis tool.

  • Easy to create via drag and drop – no help needed from IT.

  • Useful for Execs and Analysts alike

  • Flexible “slice & dice”, Traffic lighting, Ranking/Sorting capabilities.

  • Can display non-financial metrics with financial data.

  • Smart View

  • Enables business users to quickly and easily connect to Hyperion Planning using Microsoft Office® tools (Excel, Power Point, Word, Outlook) for analysis and reporting.

  • Allows users to view, import, manipulate, distribute and share data in Microsoft Excel, Word, and PowerPoint interfaces

  • Reports and Dashboards can be easily incorporated into PowerPoint presentations and Word documents. Create once and quickly refresh to review the latest information.

  • Smart Space

  • The first gadget-based user interface designed specifically for Enterprise Performance Management

  • Consists of a set of configurable gadgets that run on the desktop providing continuous access to financial, operational and performance related information.

  • Includes a secure instant messaging system for shared decision making.


Hyperion Financial Management 1300+ Customers!


Questions


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