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Customer Succcess Story: Financial Modeling at Medinah 2013
 

Customer Succcess Story: Financial Modeling at Medinah 2013

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The Joint Commission, a leading health care accreditation agency, sought to implement a comprehensive financial planning and general reporting system which would provide the flexibility needed for ...

The Joint Commission, a leading health care accreditation agency, sought to implement a comprehensive financial planning and general reporting system which would provide the flexibility needed for each business unit to operate independently. View the full presentation at the Emtec Event Archive

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    Customer Succcess Story: Financial Modeling at Medinah 2013 Customer Succcess Story: Financial Modeling at Medinah 2013 Presentation Transcript

    • Customer Success Story: Financial Modeling withHyperion Financial at The Joint CommissionHyperion Performance & Business Analytics Networking EventKathy Rogers, The Joint Commission and Len Romano, EmtecMay 8, 2013
    • Emtec, Inc. All rights reserved 2013AgendaIntroductionsPrior Process Overview, Issues and Product SelectionGoals of ProjectThe Planning Components, Timeline and ResourcesResults Achieved and The Keys to SuccessWhat’s NextHyperion Planning OverviewQuestions ???2
    • Emtec, Inc. All rights reserved 2013The Prior Process Issues• Prior Process in Summary–Excel was the Main “Application” for Budgeting, Projection and Re-Projection–Multiple Revenue Models due to Different Product Lines and Business Units–Multiple Tools across the Organization that fed information to Spreadsheets, including a Lotus NotesDatabase• The Issues–Manually Intensive–Not Real Time–Error Prone–Multiple Versions of Excel–No Scenarios–Disconnect of Revenue Models–Disconnect of Balance Sheet and Cash Flow–Disconnect of Different Reporting Needs–No Standardization Between TJC and JCR (product lines)3
    • Emtec, Inc. All rights reserved 2013Goals for the Project• Design / Build / Implement a Comprehensive Financial Planning and General Reporting Systemacross the Organization–Provide Flexibility so each business unit (TJC,JCR & Center) can operate independently• Integrate the various TJC and JCR models for consolidated analysis• Eliminate Excel spreadsheet dependencies• Allow for all revenue planning to be accomplished in one system• Provide for all different type of Budget Reporting and Analysis requirements• Develop an integrated Income Statement, Balance Sheet and Cash Flow• Provide a platform for Standardized General/Actual Reporting• Streamline budget & projection processes• Allow for faster cycle times• “Real-time” roll-ups / consolidations• Move PFA team from “data aggregators” to “data analyzers”4
    • Emtec, Inc. All rights reserved 2013Hyperion Planning EnvironmentFour Applications to Provide FlexibilityJC Revenue• Revenue ByCustomerJC• Core FinancialDataJCR• Core FinancialDataTJC Reporting• ConsolidatedFinancialInformation• Income Statement• Balance Sheet• Cash Flow• DepartmentalExpenses• 9 Revenue Models(3 Detail)• Income Statement• Balance Sheet• Cash Flow• DepartmentalExpenses• TJC RevenueModels• Allocations• Fund Acct Entity• Actual,Budget,Proj/ReProjection• Allocations• Statistics, KPI’s• Financial Stmts
    • Emtec, Inc. All rights reserved 2013Keys to Project Success• Sponsorship and support by CFO and CIO• Consulting team business process knowledge helped guide design and implementation• Participation from each business unit during Design, Testing & Training• Flexibility during Development• Administrator sessions during implementation-Knowledge Transfer• Availability of consulting team to answer questions• Regularly scheduled status meeting• Issues Log• Innovation on the Fly• Standardization and Efficiencies• Developed training program customized for TJC6
    • View the full presentation at the Emtec Event Archive.Interested in more?Our website has the fullpresentation, and others, fromthe 6th Annual Oracle HyperionPerformance Management &Business Analytics NetworkingEvent