Financial suite®
on SharePoint
In the world of Finance:
Everything seems to
move faster
Are you fast enough?
When do you report to the
board?
a. In 5 days
b. In 10 days
c. In 15 days or later
Are you ready?
Is it time for FAST
CLOSE?
WIIFM?
FAST CLOSE:
delivering faster
information at a better
quality and lower cost
WIIFM?
FAST CLOSE
is a result of a
structured closing
process
WIIFM?
FAST CLOSE
Brings you an answer to
the question: How to
release the locked up
resources in Finance?
In the world of Finance:
Is FAST CLOSE possible
with the landscape in
next slide?
Finance Landscape
in Logo’s - as in
many companies
Monthly - Quarterly
reporting:
Accountability
Accountability
Your Finan...
Let’s check it
Why do we still use
Excel and Shared
folders for our key
finance processes?
A. Because it is comfortable
B. Because we think that
we work structured if we
have this toolset:
ERP, Consolidation,
dash...
Our perception
You can always do
better, can’t you?
That is what we tell
the other managers…..
Show me
Yes, as Finance we can improve
too
Why? Our best kept secret:
We have no systems in place for
Document management.
We use
• File shares
• Shared folders
Trac...
Do we need to or can
we replace Excel and
File shares?
Let’s check if there is a need for systems for
documents and tasks? Questions…..
Do we need to track
and trace progress
du...
The answers….
How do you track and trace
progress during closing?
= Excel is a single dimension
tool
Can you find older
do...
There is a gap between your opportunities
(tomorrow)and what you do (today)
The missing piece of
the Finance puzzle.
What is Financial Suite®?
What is Financial Suite®?
A set of unique document
and process management
tools, that structures all
finance processes and...
Replace some logo’s
Finance Landscape
in Logo’s
Fast Close enabled
with
Monthly - Quarterly
reporting:
Accountability
Your Finance Processes
w...
Standard options in Fast Close Manager®
Uniform processes
for comparable
companies
Structure for
document and
process cont...
Standard options in Fast Close Manager®
Generic tasks for all
finance processes,
covers 80% of your
processes
Financial su...
Financial Suite ® fast Close
methodology
Use “Lean” to reduce
the waste
Financial suite® FinancialClosing software
Process management library with generic tasks and special features
Task types
• company types
• finance processes
Metadata...
Steps from generic to specific task set
Steps for re-use of
company task set
Financial suite® FinancialClosing software
Standard in Fast Close Manager®
Document management
with process metadata,
version control, copy and
move options
Financia...
Standard document management options for Finance
Structured Metadata
termstore
• Balance sheet
• P and L categories,
• IAS...
Steps for document
management and
Balance file sets
deployment
Is introduction of Fast Close another project?
NO
Why not
• Installation depends on number of
enitities, but is very quick...
Benefits
Efficient, documented,
structured and secure process
Flexible and easy
Reduction of stress levels
Re use of freed...
Financial Suite ® Fast Close Manager
And now…….
Financial suite® Fast Close Manager software
Financial Suite ®
The BUSINESS CASE!
Financial suite® Fast Close Manager
Do you know the answer?
How much cost can be allocated to the closing process of 10 companies,
when they close in 15 days?...
Can you do it?
Now you know, but can you reduce the reporting cycle from 15 to 5 days?
Qty Company type Days Hrs Rate FTE ...
The remaining cost when you
close in 5 days
Do you feel the need to release the allocated costs?
Qty Company type Days Hrs...
Challenge…..
Can you reduce the reporting cycle from 15 to 5 days for10 companies?
Qty Company type Days Hrs Rate FTE Tota...
New in Financial Suite ®
Reporting and consolidation
on Excel and SharePoint
Financial suite® FinancialClosing software
New in Financial Suite ®
Digital Workplace for the
Financial
Financial suite® FinancialClosing software
Solutions of the Financial Suite® family
Fast Close Manager®
Reporting Manager®
Contract Manager
QA Manager
Financial Suit...
Our results
Reduce Annual reporting
cycles with 6 months
• Set up and define specific tasks
for closing, budget, forecasts...
References
Listed company , global company 12,000 employees, Europe
Global company presence in 20 countries, 40 subs, Euro...
Who we are: Knowledge and experience:
>300 Period end closings
•Set up and definition of Generic tasks
•closing, budget, f...
Financial suite®
Fast close, yes or no?
We can help you with your
decision, please visit our
website on the Fast close
top...
Connect with André Salomons
Fast Close expert,
Speaker, Blogger
(00)31-6251016829 (C.E.T.)
writing a book called:
Fast Clo...
Upcoming SlideShare
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Fast Close delivers Financial statements in 5 days. Better, faster en more reliable. Fast Close Manager on SharePoint by Financial Suite® helps to deliver financial statements in 5 days and helps to save over 20.000 hours per year!

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Published on

Fast Close is a mindset that can make your Finance team very happy and save your organization huge amounts of money by the efficiency improvements that you and your team can achieve.

What is Fast Close Manager by Financial Suite®?

See how Fast Closing can improve your high level financial processes.
Fast Close Manager from Financial Suite® is a monitoring tool that provides structured closing processes for Shared Service centers, Holdings and subs and larger companies.

With Fast Close Manager as monitoring tool, helps each organization to accelerate all closing processes, budget, forecasts, external reporting etc.and it frees up thousands of hours and helps releasing allocated costs per year.

Hours in which you can improve business control and other finance processes.
The Slideshare presentation fills you in on the details..

Visit http://www.financialsuite.net/Paginas/FastClose.aspx to read more and to take action.

Want to try it? Be our quest and try it on SharePoint 2013 online or SharePoint 2010 online.

Published in: Business, Economy & Finance

Transcript of "Fast Close delivers Financial statements in 5 days. Better, faster en more reliable. Fast Close Manager on SharePoint by Financial Suite® helps to deliver financial statements in 5 days and helps to save over 20.000 hours per year!"

  1. 1. Financial suite® on SharePoint
  2. 2. In the world of Finance: Everything seems to move faster
  3. 3. Are you fast enough? When do you report to the board? a. In 5 days b. In 10 days c. In 15 days or later
  4. 4. Are you ready? Is it time for FAST CLOSE?
  5. 5. WIIFM? FAST CLOSE: delivering faster information at a better quality and lower cost
  6. 6. WIIFM? FAST CLOSE is a result of a structured closing process
  7. 7. WIIFM? FAST CLOSE Brings you an answer to the question: How to release the locked up resources in Finance?
  8. 8. In the world of Finance: Is FAST CLOSE possible with the landscape in next slide?
  9. 9. Finance Landscape in Logo’s - as in many companies Monthly - Quarterly reporting: Accountability Accountability Your Finance Processes Business Intelligence - Dashboards Transactions
  10. 10. Let’s check it Why do we still use Excel and Shared folders for our key finance processes?
  11. 11. A. Because it is comfortable B. Because we think that we work structured if we have this toolset: ERP, Consolidation, dashboards, file shares, folders, Excel sheets and SharePoint Our perception
  12. 12. Our perception You can always do better, can’t you? That is what we tell the other managers…..
  13. 13. Show me Yes, as Finance we can improve too
  14. 14. Why? Our best kept secret: We have no systems in place for Document management. We use • File shares • Shared folders Track and trace process. We use • Excel task lists • Or best case • Single dimension list in SharePoint
  15. 15. Do we need to or can we replace Excel and File shares?
  16. 16. Let’s check if there is a need for systems for documents and tasks? Questions….. Do we need to track and trace progress during closing? Is there a better way to find our files? Can you find a document from 2 years ago? Are the reporting procedures documented? Are the reporting procedures transparent? Is risk management included? How many emails are necessary in your process?
  17. 17. The answers…. How do you track and trace progress during closing? = Excel is a single dimension tool Can you find older documents easily? = No, you look for them the way you are organized today -File shares – shared directories Are the reporting procedures documented? = NO Are the reporting procedures transparent? = Not all Is risk management included? = NO How many emails are necessary in your process? = Many
  18. 18. There is a gap between your opportunities (tomorrow)and what you do (today)
  19. 19. The missing piece of the Finance puzzle. What is Financial Suite®?
  20. 20. What is Financial Suite®? A set of unique document and process management tools, that structures all finance processes and manages all documents
  21. 21. Replace some logo’s
  22. 22. Finance Landscape in Logo’s Fast Close enabled with Monthly - Quarterly reporting: Accountability Your Finance Processes with Fast Close Manager®. Business Intelligence - Dashboards Daily Transactions
  23. 23. Standard options in Fast Close Manager® Uniform processes for comparable companies Structure for document and process control Document management with metadata, version control, copy and move options Financial suite® FinancialClosing software
  24. 24. Standard options in Fast Close Manager® Generic tasks for all finance processes, covers 80% of your processes Financial suite® FinancialClosing software
  25. 25. Financial Suite ® fast Close methodology Use “Lean” to reduce the waste Financial suite® FinancialClosing software
  26. 26. Process management library with generic tasks and special features Task types • company types • finance processes Metadata: •financial category + standard control •role + SOx + risk level •process type + lead time Progress monitoring: • task status • task by assigned to • tasks per period Reporting on process: • compare multiple periods • open high risks tasks • performance • aggregated reporting on Holding level
  27. 27. Steps from generic to specific task set
  28. 28. Steps for re-use of company task set Financial suite® FinancialClosing software
  29. 29. Standard in Fast Close Manager® Document management with process metadata, version control, copy and move options Financial suite® Financial software
  30. 30. Standard document management options for Finance Structured Metadata termstore • Balance sheet • P and L categories, • IAS • Document types Standard find options for • Reporting • Forecast • Budget • Annual reports 2 versions - Holding- sub holding – entities - Shared Service center Both with aggregated information on • Company level • Sub holding • Holding level Includes options as • Copy and move option within SharePoint • Document display web parts • Copy to auditors and stakeholders • Open and close periods
  31. 31. Steps for document management and Balance file sets deployment
  32. 32. Is introduction of Fast Close another project? NO Why not • Installation depends on number of enitities, but is very quick • Creating a specific task set for multiple companies takes uo to several hours if well prepared • A workshop takes 4 hours
  33. 33. Benefits Efficient, documented, structured and secure process Flexible and easy Reduction of stress levels Re use of freed up resources Better quality of output Lower Auditor (assurance) costs Results in FAST CLOSE: faster reporting at reduced costs! Every reporting day costs 184 hours!
  34. 34. Financial Suite ® Fast Close Manager And now……. Financial suite® Fast Close Manager software
  35. 35. Financial Suite ® The BUSINESS CASE! Financial suite® Fast Close Manager
  36. 36. Do you know the answer? How much cost can be allocated to the closing process of 10 companies, when they close in 15 days? Any idea?
  37. 37. Can you do it? Now you know, but can you reduce the reporting cycle from 15 to 5 days? Qty Company type Days Hrs Rate FTE Total annual costs 1 Holding 15 8 30 3 10,800 10 Subs 15 8 30 2 72,000 82,000 Annual reporting costs 993,600 Every reporting day costs 184 hours!
  38. 38. The remaining cost when you close in 5 days Do you feel the need to release the allocated costs? Qty Company type Days Hrs Rate FTE Total annual costs 1 Holding 5 8 30 3 3,600 10 Subs 5 8 30 2 24,000 27,600 Annual reporting costs 331,200 Every reporting day costs 184 hours!
  39. 39. Challenge….. Can you reduce the reporting cycle from 15 to 5 days for10 companies? Qty Company type Days Hrs Rate FTE Total annual costs 1 Holding 15 8 30 3 10,800 10 Subs 15 8 30 2 72,000 82,000 Annual reporting costs 993,600 Qty Company type Days Hrs Rate FTE Total annual costs 1 Holding 5 8 30 3 3,600 10 Subs 5 8 30 2 24,000 27,600 Annual reporting costs 331,200 Easy calculation Annual Saving 15 days reporting 993,600 5 days reporting 331,200 Released allocated costs 662,400 You have 2 options Every reporting day costs 184 hours!
  40. 40. New in Financial Suite ® Reporting and consolidation on Excel and SharePoint Financial suite® FinancialClosing software
  41. 41. New in Financial Suite ® Digital Workplace for the Financial Financial suite® FinancialClosing software
  42. 42. Solutions of the Financial Suite® family Fast Close Manager® Reporting Manager® Contract Manager QA Manager Financial Suite® Financial software
  43. 43. Our results Reduce Annual reporting cycles with 6 months • Set up and define specific tasks for closing, budget, forecasts, external reports for holdings, Reduce Monthly reporting cycles with 6 weeks to 5 days Set up efficient group reporting and consolidation Reduced stress levels of finance people
  44. 44. References Listed company , global company 12,000 employees, Europe Global company presence in 20 countries, 40 subs, Europe Local company, 11 different businesses, South America Regional company, 7 countries, ASIA and more….. http://www.financialsuite.net/screens/clientcases_en
  45. 45. Who we are: Knowledge and experience: >300 Period end closings •Set up and definition of Generic tasks •closing, budget, forecasts, external reports for holdings, production co’s, sales and services offices etc. •Incl process management >120 • forecasts and •>30 Budgets 15 •Years of group and subs. control experience of reporting at UK global companies, 35,000 employees •that are #1 on fast close for many years >10 Years • of SharePoint experience >40 years • Finance and control experience
  46. 46. Financial suite® Fast close, yes or no? We can help you with your decision, please visit our website on the Fast close topic Connect with our company http://www.financialsuite.net/ Paginas/FastClose.aspx Or
  47. 47. Connect with André Salomons Fast Close expert, Speaker, Blogger (00)31-6251016829 (C.E.T.) writing a book called: Fast Close can be easy

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