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Developing a Fully Integrated Long-Range Plan

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Edgewater Ranzal presented how Cenovus Energy transformed their long-range planning (LRP) process through the implementation of Oracle's Hyperion Strategic Finance (HSF). at the Association for …

Edgewater Ranzal presented how Cenovus Energy transformed their long-range planning (LRP) process through the implementation of Oracle's Hyperion Strategic Finance (HSF). at the Association for Finance Professionals (AFP) 2013 Annual Conference.

Published in Business , Economy & Finance
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  • 1. ONE Company, ONE Team: Developing a Fully Integrated Long-Range Plan Kent Sweezey Cenovus Energy Corporate Planning Steve Coverick Edgewater Ranzal Strategic Planning Practice October 30, 2013
  • 2. Agenda Company Overviews Long-Range Planning Overview Development Considerations EPM Platform High Level Demonstration Questions & Answers
  • 3. Company Overview: Cenovus TSX, NYSE | CVE Enterprise value $29 billion Shares outstanding 756 MM 2013F production Oil & NGLs Natural gas 2012 proved & probable reserves 183 Mbbls/d 515 MMcf/d 3.1 BBOE Bitumen Economic contingent resources* 9.6 Bbbls Discovered bitumen initially in place* 93 Bbbls 1.5 MM net acres Lease rights** P&NG rights 5.5 MM net acres Refining capacity 229 Mbbls/d Values are approximate. Forecast production based on midpoints of the July 24, 2013 guidance document. Cenovus land at December 31, 2012. *See advisory. **Includes an additional 0.5 million net acres of exclusive lease rights to lease on our behalf and our assignee’s behalf. © 2013 Cenovus Energy Inc.
  • 4. Company Overview: Cenovus Mbbls/d Volumes are shown before royalties and net to Cenovus. 2013F based on midpoints of the July 24, 2013 guidance document. 2014F - 2023F based on future price assumptions as noted in the advisory. Forecast volumes are estimates only and subject to regulatory and partner approvals. See advisory. © 2013 Cenovus Energy Inc.
  • 5. Company Overview: Edgewater ► NASDAQ: EDGW ► The Boston Globe’s Top 100 Business ► Edgewater Top 500 fastest-growing stocks on Wall Street Ranzal Planning 2001 Planning Founded in 1996 Essbase Acquired Vertical Pitch 2007 HFM/ FDM Acquired by Edgewater 2004 Data Integration & Warehousing/ CRM/ Web 2.0 Build OBI Team 2011 OBIEE Acquired Meridian 2010 HSF Build DRM & HPCM Teams 2009 DRM & HPCM ► ► ► ► One of the largest Full-Service Oracle/Hyperion EPM and BI practices Oracle Platinum Partner Multiple Oracle Partner of the Year awards Premier Consulting Services in North America and Europe
  • 6. Company Overview: Edgewater Business Intelligence Consolidation Planning Project Management Infrastructure Data Services Support Services Training
  • 7. LRP Overview: Purpose Budget Foundation Stewardship and Capital Discipline Sensitivity and Scenario Analysis Collaboration
  • 8. LRP Overview: High Level Process Executive Guidance Forecasts and Analyses Review and Communication
  • 9. LRP Overview: CP’s Role • • • • • Corporate forecast model Data sources integration Financial and operational reports Sensitivity and scenario analyses Reporting consistency Budget Outlook LRP
  • 10. LRP Overview: Challenges • • • • • Complex and segregated spreadsheets Cumbersome scenario analyses Limited documentation Version control Duplicated efforts
  • 11. Development Considerations • Spend time on model design – – – – – – – Actuals  Outlook/Budget  LRP integration Understand routine / non-routine transaction impact Focus on strategic imperatives Corporate hierarchy views (i.e. legal vs mgmt) Customized handling of data sources Naming convention Global assumptions
  • 12. Development Considerations 360o training Customized Reports Micro and Macro Testing Documentation Global Sensitivities Flexibility Integration Maintenance
  • 13. EPM Platform: Integration Hyperion Planning Ops Planning HSF Essbase Other Inputs 13 Excel Reporting
  • 14. EPM Platform: HSF Economic Shifts Predictive Modeling & Simulation Capacity Planning Long-Term (3-5 Year) Full Financial Statement Projections Key Performance Metrics New Product Offerings Acquisitions / Divestitures Product Pricing Commodity Pricing Growth Initiatives Long-Term Financial Planning Value Management Discounted Cash Flow Economic Value Added Liquidation Value What-if Analysis Corporate Development Treasury Strategies Capital Structure Debt Issuances/Payments Covenant Analysis Credit Ratings
  • 15. High Level Demonstration
  • 16. Pre-Built Accounting Integrity • Pre-built, fully integrated financial statement foundation • Pre-built forecast methods and formula functions • What-if Analysis toolkit
  • 17. Powerful Scenario Capabilities
  • 18. Easily Analyze Various Combinations Mix and Match Scenarios Capital Projects included Acquisition excluded
  • 19. World Class Treasury Analysis • Calculates net cash surplus or deficit from multiple models and scenarios • Funding Options tool to re-allocate surpluses and fund deficits • Debt scheduler • User-defined reports to monitor covenants, credit ratings, and earnings per share
  • 20. Acquisition/Divestiture Modeling
  • 21. Set Strategic Targets in HSF
  • 22. Align the Planning Process
  • 23. Seed Budgets with Strategic Targets From Strategic Plan
  • 24. Tweak Budget with Targets in Mind
  • 25. Update Targets with Latest Forecast
  • 26. Cenovus Forward Looking Information
  • 27. Cenovus Oil & Gas and Financial Information