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Introduction to Oracle Hyperion Financial Close Suite

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Overview of the Financial Close process, common pitfalls and challenges during consolidation

Overview of the Financial Close process, common pitfalls and challenges during consolidation

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  • 1. Introduction to Oracle Hyperion Financial Close Suite Christian Wetterwald, Director, Financial Close Solutions Presenting with Janette Kosior, Director, Product Management Giulio Carone – Senior VP - Enel Group Control Remigio Aprile – Director - Enel Group Reporting1 Marco Passera – Principle Accenture Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 2. Safe Harbor Statement The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle s products remains at the sole discretion of Oracle.2 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 3. Agenda •  Overview of Financial Close •  Solution Overview •  Delivering an Integrated Close •  Enel3 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 4. Oracle Improves the Close ProcessDays to Close FTEs Involved in Close 25   100 20   80 15   60 10   40 5   20 0   0 Marginal   Stable   Best  in  Class   Transforma8onal   Marginal Stable Best in Class Transformational Pre   Post   Pre Post 4 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 5. <Insert Picture Here>OVERVIEW OF THE FINANCIAL CLOSE PROCESS5 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 6. Close Process Process is driven by financeOrganizing Gather and validate complete Deliver self service data sets to support all reporting to the Automate and financial reporting needs (i.e. organization for deliver Edgar & Close Sub Ledgers into FI- Legal Entity, Segment, performance XBRL filings, GL (i.e. FI-AR, FI-AP, FI-AA, Management, Tax, discussions and plan Statutory filings, etc.) Sustainability Metrics, etc.) realignment Tax, etc. Preparing & Collecting Processing Reporting External   General   Data   Internal  Mgmt   Financial   Sub  Ledger  Close   Ledger  Close   Assurance   Consolida8on   Repor8ng   Filing   Repor8ng   Perform Reconciliations •  Bank Reconciliations Automate consolidated financial Automate external reporting leveraging multiple reporting gathering •  Standard Account Recon hierarchies and calculations (i.e. disclosures and •  Sub Ledger Recon CTA, FASB, KPI’s, FX, Retained financial information Earnings, Topside Entries etc.) Post Accruals 6 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 7. Challenges to a World Class Close There is no easy close External   General   Data   Internal  Mgmt   Financial   Sub  Ledger  Close   Ledger  Close   Assurance   Consolida8on   Repor8ng   Filing   Repor8ng  Subsidiary 1 ¥ Accounting Differences Parent CompanySubsidiary 2 Manual, Error-Prone Processes £ $Joint Venture Complex Ownership Structures Multiple, Fragmented Systems CAD HR System Lengthy close processes with weak internal controls and rigid systems cannot exploit new opportunities creating a disconnect between strategy and execution. 7 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 8. Top 3 Myths About Hyperion Financial Management MYTH 1: Organizations that have single ERP or GL instances will not benefit from HFM MYTH 2: HFM is only for large, global Fortune 500 firms MYTH 3: HFM delivers value only to organizations with complex financial reporting requirements 8Copyright ©Copyright © 2011, Oracle and/or its affiliates. All rights reserved. reserved. Oracle Restricted 2009, Oracle and / or its affiliates. All rights Confidential – 8
  • 9. HFM Consolidates What’s NOT in the GL Complements Ledger Consolidation, eliminates offline XLFinancial Reporting with the GL Alone Oracle EBS, PS SAP, others Other Financial ReportingFinancial Reporting with HFM Oracle EBS, PS HFM SAP, others Financial Other Reporting 9 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 10. Focus on Quality Reporting and Reduction in Time •  Deliver Multiple reporting objectives (Legal Entity, Management, Tax, GAAP, IFRS, etc.) from one source •  Reporting Flexibility (multiple hierarchies, dynamic reporting) •  Reduce the Length of Close process •  Eliminate inconsistencies and manual/error prone processes •  Reduce the cost of compliance (GAAP, SOX, Stat, etc.) •  Automate Intercompany matching and elimination •  Collect of data across multiple sources easily10 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 11. <Insert Picture Here>SOLUTION OVERVIEW11 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 12. Oracle EPM Connects Management Processes Common Reporting & Interaction Strategic Planning Planning & Forecasting Financial Close Profitability Management Common Integration & Analysis Data Quality and Consistent Dimensions12 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 13. Critical Components to Implement Financial Close Best Practices CFO Dashboard Governance, Risk & Compliance Financial  Close  Workflow   Tax Tax ERP: Calculations Filing Oracle, SAP, Data Financial Assurance Consolidation Document   Legacy, Other Financial and Management   Mgmt. Reporting &  Filing   Transactions Reporting13 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 14. Collecting Move the data to the system•  Easy Data Load•  Ensure Data Quality•  Data Certification•  Drill back to source•  Audit•  Manual Input –  Web Forms –  Smartview Forms•  Manual Journals•  Task Lists 14 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 15. Processing Doing the Consolidation •  Automate multiple types of reporting (US GAAP, IFRS, MGMT, etc.) •  Centrally manage all calculations for consolidated reporting (KPI’s, FX, CTA, Equity Elim, etc.) •  Data Audit •  Financial Analytics •  What if scenario modeling •  Centralize all financial data (Trial Balance, Schedules, Statistical Data, Plan/Fcst, etc.)15 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 16. Reporting Multidimensional Powerful Reporting and Analysis Capabilities Time When? Sales View Controlling •  Supports statutory View Markets consolidations as well Where? Revenue as detailed analysis 1000,- •  Detail by product, market, Product channel, etc What? •  Easy ad hoc reporting/ Product ad-hoc Manager Analysis pivoting View16 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 17. Reporting and Analysis Quick Insight into your figures•  Sophisticated ad-hoc analysis•  Production quality financial statements reporting (PDF, HTML)•  Easy and quick to build reports•  Leverage report template repository across entire organization•  On demand, real-time or batch reporting•  Seamless integration in MS Office 17 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 18. Filing the Disclosures•  Manages the entire process of taking a company’s consolidated results and transforming them into specifically stylized statutory filings•  Document creation process manages the entire distributed development of the statutory report•  Simple end user experience - Microsoft Word•  Built-in XBRL reporting capabilities•  Multiple output formats 18 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 19. Financial Close Dashboard•  Built on Best of Breed BI Technology –  making it extensible to additional data sources –  mobile access, action framework, etc.•  Real Time•  Support EPM Security and SSO•  Not hosted but installed in-house•  Includes Close and Process Mgmt metrics beyond the reach of our competition•  Mobile Devices Enablement 19 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 20. Managing the Financial Close Workflow Organizing•  Close Process Analysis, Trending and Improvement•  Process Monitoring•  Active Calendar•  Single Task List•  Automated workflow•  Ensure Compliance•  Email Notifications•  Account Reconciliations 20 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 21. Delivering an Integrated Financial Close21 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted
  • 22. 22 Copyright © 2011, Oracle and/or its affiliates. All rights reserved. Confidential – Oracle Restricted