Balance Sheet (Financial) Consolidation

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There is always a challenge to close the accounting books quickly & publish the statutory balance sheets with profit and loss accounts statement or for that matter internal financial MIS for monthly quarterly or yearly. There are various challenges when there are group of companies, local subsidiaries, international subsidiaries, branches, strategic business units, sister concerns, joint ventures, merger, acquisitions, investment companies, SPV’s etc. data to be consolidated in single financial report.

CFO team is always under pressure to publish quarterly, half yearly and yearly statements based on Indian GAAP or US GAAP or IFRS or any other formats of publishing data. There are challenges to map and consolidate data from multiple entities, multiple accounting period and multiple currencies. Finance team lead by CFO works days and weeks on multiple spreadsheets to arrive a final statement. While doing this exercise finance team faces several challenges.

Technology can also be a barrier to close books faster. Companies that use desktop spreadsheets to manage their accounting, closing takes about 25% longer to get it done. If the company is still busy closing its books, it can and should do better. We help companies CLOSE YOUR BOOKS FASTER WITH ACCURACY AND EXTENSIVE ANALYTICS.

1KEY Financial Consolidation software is a complete data warehouse model with standard statutory reporting requirements for publishing financial statements and with extensive analytical reports. It provides financial managers the ability to rapidly close and report financial results, meet global regulatory requirements, reduce compliance costs and provide confidence in the numbers.

Accelerate closing cycle and improve the quality of data – remove the pain of consolidation of financial management & reporting cycle. Organizations that are able to close their books quickly & deliver faster & more accurate information can gain a competitive advantage in a rapidly changing market. Provide financial managers the ability to rapidly close & report financial results, meet global regulatory requirements, reduce compliance costs with trust in numbers.


CLOSE BOOKS – Faster | Error Free | with Extensive Analytics is the strategic and exclusive Financial Technologies event that presents the challenges, solutions for Financial Consolidation from industry thought leaders in an interactive knowledge-sharing environment.

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  • Hi Dhirem, this is sam here . i like this document . i need it for the better understanding of the consolidation part. when you free could you plz mail me to : sap.sam2009@gmail.com
    it will be a great help from you.
    Regards
    sam
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Balance Sheet (Financial) Consolidation

  1. 1. S & S InfoTech and Software Pvt. Ltd. Innovative Technology… …Smart Solutions! www.ssisindia.com
  2. 2. S S I S Profile • Established in 2002 • 80+ Fulltime competent, committed IT Professionals • Exposure to diverse range of technologies
  3. 3. Strategic Partners
  4. 4. SSIS’s Strengths • On Time Deliveries • Quick Ramp Up • Significant Cost Advantages • Shortened Development Cycles • Access To Diversified Pool of Skilled Professionals • Direct interaction of Client and Developers • Proven Best Practices & Methodologies in place • Online tracking of development schedule • Quality is given topmost importance • Internal Trainings
  5. 5. Core Competency • 1KEY Business Intelligence (BI) – MAIA Intelligence Products • Development – Product and Application Development – Application Maintenance Services – Software Development Kit (SDK) • Infrastructure Management – Server Management – DBA Activities • Project Management – Planning and scheduling – Implementation
  6. 6. Business Intelligence Practice • Business Intelligence Strategy • Data Warehouse/Mart requirements gathering, design and consolidation • Data Integration (from multiple systems and sources for unified view) • Meta-Data gathering • Customer Analytics • Executive Dashboards
  7. 7. Our BI services • Analyze current data systems, develop data governance strategies and determine key business performance measurements • Integrate data from disparate systems and platforms into an enterprise-wide data warehouse and departmental data marts to ensure consistency and accuracy • Measure and monitor performance with KPIs and dashboards that track key business metrics • Report and analyze data to gain context, understand trends and spot anomalies that impact your business • Plan, budget and forecast with historical, current and future view of your business operations
  8. 8. Our solutions include • Report Delivery Centers that combine business intelligence techniques • Data Integration Services to ensure that decision- makers have access to timely, accurate and comprehensive information • Reporting Tool Migration services to reduce the cost of operating BI solutions and enable the use of the most functional, up-to-date tools • Ultra-Large Database design and implementation to meet the data needs of the most demanding business processes
  9. 9. Centre of Excellence
  10. 10. Questions ??? Questions ?? What is our How much do Actual Vs Budget Which products, key business on cost? customers or channels processes are profitable? cost? What is the impact of selling What factors more through a drive retention of specific my best employees? distribution channel? How to improve our inventory management? What are the top Where are my most profitable performing customer segment? product lines?
  11. 11. Important Decisions based on “Gut-Feel” Decisions based on‘Gut Feel’ Business users need....  Knowledge of the current business status and future trends  Awareness of changes that will affect business performance  Make key decisions with the most recent and accurate information Without trusted business intelligence, decisions are based on “Gut-Feel!”
  12. 12. IT Challenges – Reporting/BI from ERP system usually confine to ERP environment – Multiple Data Sources
  13. 13. BI Across Different Lines of Business BI – Across Lines of Business
  14. 14. End Deliverables Decision making at Meaningful & Provide an early- all levels Actionable warning system with strategic, tactical & Information KPI operational Create Compelling 1KEY BI will be used Connect Users with user experience that in all the meetings Information requires very little and presentations training Deliver reports Increase business anytime anywhere Know what should users productivity in any format users have been known need Enable Creative Move out of Excel Investigate issues to thinking with data Culture understand why analysis
  15. 15. BI Strategic Planning Confidence in Your Costs, Architecture and Plan • Best Practice Assessments • Comprehensive Project Scoping & Estimating • Current State Assessments • Strategic Implementation Plans • Business Case/ROI Analysis • Business Impact Analysis • Value Realization
  16. 16. Data Warehousing & Data Integration Confidence in Your Data • Complex Data Integration • ETL Design and Build • Data Analysis • Data Quality Architecture • Enterprise Data Warehouse Design and Development • Data Mart Design and Development • Managed Metadata across Platforms
  17. 17. Enterprise Business Intelligence Confidence in Your Decisions and Direction • Integrated Information across Lines of Business • Data Aggregation and Drill down Reports • Operational Reporting • Executive Dashboards • Key Performance Indicators
  18. 18. BI & DW Center of Excellence Confidence in Your Solution • Comprehensive BI/DW Methodology • Online Knowledgebase of Best Practices, Templates, Sample Deliverables • COE Forums For Knowledge Sharing • Quality Audits Conducted by Sr. BI Practice Leaders • Creation of Client COEs
  19. 19. Information Management Confidence in Your Information • Data Governance/Stewardship • Data Architecture • Master Data Management (MDM) • Information Continuity
  20. 20. Today’s Agenda • Financial Consolidation Challenges – CA Ashwin Dedhia, Director - Solutions, MAIA Intelligence • Technical Framework of 1KEY – Vikram Kole, Head – Marketing, MAIA Intelligence • Financial Consolidation Management with 1KEY FCM – CA Ashwin Dedhia, Director – Solutions, MAIA Intelligence • Q&A
  21. 21. surya@ssisindia.com S & S INFOTECH AND SOFTWARE PVT. LTD.
  22. 22. CA Ashwin Dedhia, Director – Solutions MAIA Intelligence
  23. 23. Balance Sheet Consolidation Interaction Schedule • Financial Reporting Overview • Business Issues & Challenges • 1KEY FCM - Solution Capabilities • Implementation Experience • Case Studies
  24. 24. Financial Reporting Last Decade Current Decade Expectations Today • 12 to 18 months statements • Yearly & Quarterly Statements • Yearly, Quarterly & Monthly were made and closed in few were made and closed in few Statements are required to be quarters after the end of period months after the end of period closed in weeks & days • Consolidated Statements were • Consolidated Statements • Consolidated Statements not Mandatory became Mandatory (AS-21) required by LAW and also Management Time Horizon
  25. 25. Business Issues “It’s difficult to generate comprehensive reports “It’s difficult to modify existing software so without technical assistance” users are able to see only the reports that are important and relevant to their jobs” “ We wish to share information with external parties such as “Business users are drawing incorrect Investors, Management and other Stake conclusions and missing opportunities due Holders on time” to lack of timely information”
  26. 26. Traditional FCM Challenges - Using Excel • Little Centralized Control • Poor Data Integrity • Unmanageable consolidation mechanics • Little facility to view data across different dimensions • Challenge to react and reflect to changes • Inflexible reporting - Non dynamic statements • Rigid templates for each user involved • High Risk Change Management
  27. 27. Do You need FCM Application ? • As an organization grows, so does the difficulty of its financial consolidation and reporting challenge. • Organizations have to deal with – multiple currencies, geographies – various accounting standards – Changing reporting requirements – Compliance Regulations. – Integration of new business units into the reporting chain. • Through all of this, the organization must balance the need for precise financial reporting and corporate governance with the need for timeliness in meeting reporting deadlines
  28. 28. 1KEY FCM – Solution Accounting Data Quality Multiple Currencies Multiple COA Mapping Intercompany Elimination Merger & Acquisition Group Reporting Scenarios Single Method Prevails
  29. 29. 1KEY FCM – Addressable Questions • How do the balance sheets of different subsidiaries compare? • What is the variance of assets, liabilities, etc. between two selected time periods? • What is the Net Working Capital of the company? • Which business unit caused cash drain in a particular period? • What is the leverage and liquidity of the company? • What is the profit margin of each business unit and/or geographic region? • How have margins changed month-to-month over the past year? • Which business units are hitting their margin targets? • Which business units are more than 10% above/below their contribution targets? • Which units or regions are over budget by more than 5%? • Are there trends underlying any revenue or expense that need immediate attention?
  30. 30. STAKE Holders • Mainly Performance Driven with its FOCUS on TOP Business Line, Bottom line, Growth %age, etc. • Mainly Structure driven where Security takes over the Technology Flexibility and mapping with Business Need. • Mainly Procedure driven where Submission of Information in particular formats is focused, often requiring disruption Statutory Compliance of current processes
  31. 31. Business • Stake Holders / Report Users – Management – Government – Banking & Finance – Auditors – Investors – Industry
  32. 32. Technology – Multiple Data Input Sources – Application Spread across Geographies – Multiple Applications for Processes – Challenge to manage out of the process information Heavy Dependency on most FLEXIBLE tool EXCEL
  33. 33. Statutory & Compliance • Accounting Standards Applicable • Compliance / Statutory Reporting Formats – Schedule VI of Companies Act – US GAAP – SEBI Reporting – IFRS Reporting – Reporting for Other Authorities – Industry Norms & Regulations
  34. 34. Accounting Standards AS 13 – Accounting for Investments •This Statement deals with accounting for investments in the financial statements of enterprises and related disclosure requirements. AS 14 – Accounting for Amalgamations •This statement deals with accounting for amalgamations and the treatment of any resultant goodwill or reserves. This statement is directed principally to companies although some of its requirements also apply to financial statements of other enterprises AS 18 – Related Party Disclosures •The objective of this Statement is to establish requirements for disclosure of: •(a) related party relationships; and •(b) transactions between a reporting enterprise and its related parties. AS 21 – Consolidated Financial Statements •The objective of this Statement is to lay down principles and procedures for preparation and presentation of consolidated financial statements. AS 23 – Accounting for Investments in Associates in Consolidated Financial Statements •The objective of this Statement is to set out principles and procedures for recognizing, in the consolidated financial statements, the effects of the investments in associates on the financial position and operating results of a group. AS 27 – Financial Reporting of Interests in Joint Ventures •The objective of this Statement is to set out principles and procedures for accounting for interests in joint ventures and reporting of joint venture assets, liabilities, income and expenses in the financial statements of ventures and investors.
  35. 35. Why MAIA – 1KEY FCM Faster response time • Niche we are, hence faster we to customer needs. move We are proud to have you as a customer • We offer sincere personal attention Can send the experts • Our clients see us as a specialist at affordable cost despite our size • Customers know that they can get Small is the new big in touch easily with us. Trust people
  36. 36. Offerings • Statutory Compliance Reports Designing • Analytical Reports – Cubes, Views, Charts • TOP Management Review – Dashboards & KPI’s • Directors & Key Management Training • Functional Heads • Managers & Executives • Role Based Hierarchical Security Implementation • Functional Expertise with Sharing best practices • Requirement Gathering & Solution Delivery
  37. 37. 1KEY – A Success Story • Fastest growing BI crossing over 9000+ user base • India success story in Gartner Research & official Microsoft Case Study • Winner of most trusted IT vendor in BI category by CTO Forum survey of over 200+ IT Heads • Recommended by Government of India National Informatics Centre (NIC) for National Award • Only BI Vendor in India to cross 1000+ users on web single site deployment. • Used by software companies like FT, Nelito, Kale Consultants . • Price leadership with simple server based licensing unlimited users. India price advantage with better quality engineered software product. • Thought leader in BI space - radical change in deployment time. Solution ready in day and weeks from traditional month to years.
  38. 38. Add transparency to financial reporting Fulfill statutory & managerial requirements through innovative solutions
  39. 39. Technology Framework Details Shared by Vikram Kole - Head Marketing
  40. 40. 1KEY Technical MAIA Framework Overview Intelligence
  41. 41. Architecture of 1KEY Agile
  42. 42. 1KEY FCM data flow - Mapping of Ledger PROCESS Reporting Codes with of the TRIAL BALANCE Predefined Schedule Data Location 1 VI Structures - Additional Journal 1KEY for Entries Analytics TRIAL BALANCE - Currency Details Location 2 etc. Excel for Conversion of multiple Further TBs into processing TRIAL BALANCE 1KEYFCM Location 3 Processing Warehous Static e * Consolidated TB Reporter * for P&L, B/S, Schedul TRIAL BALANCE Formatted Location ‘n’ es Printing * Ratio Analysis * Special Reports
  43. 43. 1KEY FCM Flow
  44. 44. 1KEY BI – Enterprise wide Strategic Tactical Operational
  45. 45. Get the right direction instantly VIEW has been engineered to fully address the reporting requirements of your organization helping you to compete and win in the Drill down to lowest marketplace without much effort or level compromise. It provides runtime analysis, grouping, column Save customizations with Parent-Child hours Relationships, Drill Down and Drill daily Back functionalities with a Keeps you extremely intuitive report always moving formatting for Business users. ahead
  46. 46. Take Intelligent Decision CUBE is a comprehensive data analysis, data mining, and multi- dimensional visual reporting solution. With its powerful data Do it architecture, CUBE is able to slice and Trend are yourself dice information efficiently and provide like friends users with an extremely intuitive reporting experience. Regardless of the perspective, data can be rendered to answer business questions - and best of all - it allows business users to focus on Centralized Gives business rules rather than creating Information Competitive dozens and dozens of reports. for growth Edge
  47. 47. Create Impact with business data CHART is a graphical representation and visual reporting which represents business performance via stunning and meaningful diagrams. It helps to Identify drive organizational achievements by Emerging Trends giving information in a much Spot Opportunities consolidated and easy to understand manner. Track & Point Issues Runtime user definable drill down & drill back functionality available direct from the charts. Customer segmentation, forecasting, trend Powerful Insights analysis, etc. all made easy
  48. 48. Always on and always updating Works in background SCHEDULER enables users to On Time MIS schedule the reports as per the recurrence pattern in the variety of formats like Constantly Communicating PDF, TXT, XLS, HTML, MHT and RTF to be stored on hard disk, to be emailed to respective business Flexible Schedules users, or to FTP. It automates the complete process of reporting Simple Process and avoids the cumbersome work of manually creating and/or delivering reports to respective business users on a periodic basis.
  49. 49. Run your company from anywhere Advanced Zero Foot Data Print Visualization DASHBOARDS, users can Publish Data Deployment Tools define their own Dashboards Securely having combination of Real Time multiple reports like Actionable Information View, Gauge, Chart, KPI's, RSS Web Feeds etc, on one single Based screen. Platform Dashboard is a reporting tool that can be defined as a user interface for organizing and presenting data in a consolidated manner. Data from multiple sources are integrated and unified for display on a single platform. This makes the information easy to read and comprehend, all on the same screen.
  50. 50. Key Performance Indicators S– M- A- R– T– SMART Specific Measurable Achievable Realistic Timely KPI KPI are high-level snapshots of a business or organization based on specific predefined measures. KPIs typically consist of any combination of multiple reports. They may include global or regional sales figures, personnel stats, real-time supply chain information, or anything else that is deemed critical to a corporation's success. KPI allows goals to be observed with different warning colors that will be switched on as defined giving the user a quick view of how well or how poorly each goal is met. It is the best way to track and represent variances on targets &
  51. 51. File Reader 1KEY FILE READER is a utility that imports data from Text Files, Excel Single & Files, stores it into 1KEY CUBE or multiple files / User can select 1KEY VIEW for direct reporting sheets selection data range on at one instance their own and analytics. are available 1KEY users get the benefits of another key functionality which not many reporting tools software provide as of today. Users can select Users can save required data layouts and use column with the same required format whenever for analysis required
  52. 52. Query Expert 1KEY has dynamic query engine with Visual Interface to expression builder design queries and model creator. It provides the facility to use simple graphical interface to build SQL SQL parsing - enter the SQL Creation of links with statements and create statement, and the simple drag & drop views in a database. It diagram and grid gets functionality populated has graphical panes that displays your SQL statements visually and a text pane that displays the text of your SQL statement. You can work in either Localization - option the graphical or text of specifying own Automatic SQL Statement Generation panes. parameters
  53. 53. Role Based Security 1KEY uses "parametric control" for controlling access over business information which is available to users for their reporting needs. Parameters are mapped Show only Create to the user hierarchy of Control the organization and what you nested your data hence the access to the want to parameters relevant data. Parameters definition can be one of the fields available from the system or can be user defined based on the requirement of the organizations.
  54. 54. MAIA Thank you vikram@maia-intelligence.com Intelligence Corporate Office: 2/319, Millennium Business Park, Sector 1, Mahape, New Mumbai, India – 400 701 Tel: 91-22-66888999 | Fax:91-22-66889000
  55. 55. Financial Consolidation Management Solution from MAIA Intelligence
  56. 56. Stand Alone Reporting Processes • Budgeting Planning and Forecasting • Profitability Modeling & Optimization • Dashboards and KPI Reporting • Local Statutory & Compliance Reporting • Management Reporting Challenges / Pain Areas • Different ERP Systems or Same ERP with different LOCAL Settings • Processes not unified • Lack of Access Control • Lack of Collaboration • Use of Individual Tools – Spreadsheets, local Databases • Lack of Traceability • No continuity with Holding System
  57. 57. Consolidated Reporting Processes • Data Collection • Intercompany Reconciliation • Consolidation of Data • Reporting • Compliance • Analysis Challenges / Pain Areas • Manual Operations • Lack of Process Workflow • No Data Visibility for each legal entity • Challenges in Segment Reporting
  58. 58. Broad Process for FC Analyze & Capture • Results from the ERP System Perform • Final Adjustments Disclose • Report Information Generate • Financial Statements
  59. 59. Ease of Use User Training Use Interface Users are expected to remember Business User needs advanced the cells and sheets that need to training on EXCEL, functional be changed, risk of incidental aspects and controls errors is very high Carefully selected Interface and process Interface similar to Office to help the Functional Users Applications, reduces the user training needs, and users increase productivity Easy to Configure and SET to from 1st day Organizational Needs
  60. 60. User Administration User Change Security levels Management Change of Person, increases the No separate data security levels at time required to do consolidation the report level and is prone to risk of errors Multiple data security levels like Structures once created can be Domain level security, user level reused and reapplied without security, report level security and special efforts data level security
  61. 61. User Level Security for Usage and Data Access
  62. 62. Process Control Data Changes & Organizational Update Hierarchy Data (TB) gets updated during the consolidation process and Consolidated Data required at requires lot of verification and Different levels and segments care for incorporation Hierarchy can be defined and Import routine, has the control to structured with multiple replace source data without impacting dimensions, Roll up is easy once the the Mapped information data is captured at Lowest Granularity
  63. 63. Approval Process
  64. 64. Creating Organizational Hierarchy Define Hierarchy :- Definition of organization level , from which TB is to be pulled in 1KEY FCM.
  65. 65. Data Import Import TB for various Entities of the group.
  66. 66. Data Control Data sanctity across Data Availability the enterprise / teams Since Excel is the presentation layer, data The report shows data as-of the report editions / deletions often happen published time. For real-time data, IT users knowingly / unknowingly which creates have to re-run the report and publish it unfriendly scenes / time loss (for data again for Business Users conformance) during team meetings Refresh Control on the Interface allows 1KEY presentation layers don't allow Business User to fetch real-time data UNAUTHORISED anytime, without IT Team Dependencies, Addition / Modification / Deletions saving Critical Time during Consolidation.
  67. 67. Controlling Additional Masters Define various ledgers under different companies to pass JV & Adjustment entries.
  68. 68. Reporting Hierarchy & Behavior •User can change the order of accounting groups under schedules and • Define group name for the accounting group , of whose, balance comes in opposite than their natural characteristics like cr. Bal of Debtors : to be shown in Advance from debtors under current liabilities.
  69. 69. Entry Types Define various JV types to categorize JV entries as per their nature.
  70. 70. Passing Entries
  71. 71. Comparable Scenario Scenario Multi Period Management Comparison Management expects to have the External Factors lead to having numbers being compared with comparison with Non-Traditional multiple scenarios to review flows for better understanding performance and reading of datasets Empowers the users to analyze the data in Multiple Scenarios against Budgets, with or Comparison & Variance Analysis with without specific entry types, testing the various data Period to provide better change impacts, without affecting the decision control system source data and process
  72. 72. Budgeting Enter data and remarks for Budgeting & Planning for various accounting heads.
  73. 73. Multiple Chart of Accounts Define Chart of Accounts :- User can define multiple chart of Accounts for a Single TB to comply with different statutory and reporting requirements like Schedule VI, IFRS , XBRL etc.
  74. 74. Mapping GL to CoA •Mapping of COA for various companies. •One time activity •Can be copied from previously mapped company(COA) or previous period. •Different COA for the same TB (Company).
  75. 75. Mapping GL to CoA List of Unmapped Ledgers OR Groups.
  76. 76. Mapping GL to CoA •List of Mapped Ledgers OR Groups •Mapping can be changed as per requirement.
  77. 77. Elimination & Consolidation Elimination Consolidation Intercompany Transactions Each Reporting Group requires need to be Eliminated at each different Exchange Conversion Level Rules to be applied Interface to knock-off individual GL’s Journal Entries can be passed at Various created for intercompany Levels of the Organizational Hierarchy transactions, or recording Specific independent of Books of Accounts Amounts to be Knocked-Off is available
  78. 78. Elimination
  79. 79. Consolidation
  80. 80. Currency Management Multi Currency Currency Rules Units in Different countries use Each Reporting Group requires different currencies for different Exchange Conversion transacting and hence the TB are Rules to be applied in LOCAL Currency Provides Multi Currency Business Rules are definable at Management and controls Reporting Group Level and conversion behavior at GROUP Controllable at GL & Transaction Level Level too.
  81. 81. Multi Currency Management
  82. 82. Applying Rates Define exchange rate [Opening, Closing Rate] for Conversion of Final Accounts in Reporting Currency. ( Average Rate would be calculated automatically).
  83. 83. Applying Rates to Reporting Groups Creation of Various Accounting Group for financial reporting & define type of exchange rate [Opening, Closing, Average] for conversion of PL and BS items.
  84. 84. Additional Reports Cash Flow / Fund Ratio Analysis Flow Various ratios like Capital Adequacy Preparation of this statements requires Ratio, Segment Analysis are required for efforts nearly similar to Balance-Sheet standalone and with Consolidation, and are prone to Data Subsidiaries, Associates, Joint Ventures Change Risks. (Consolidated) FCM has a capability to define new ratios Information Captured in Balance Sheet (Users can defining the formula for the same Consolidation Process is Appended with through simplified UI) and use the same in additional information required for this analytics and reviews. Various ratios for reports, enabling Faster Availability of reports different quarters can be developed
  85. 85. Ratio Analysis •Enter definition of Ratio & remarks. •Can be copied from previously mapped company or period.
  86. 86. Ratio Analysis
  87. 87. Ratio Analysis
  88. 88. Cash Flow
  89. 89. Other Files To enter or upload other reports like Working Documents, Director’s report etc.
  90. 90. Report Interface Flexible Format Fix Format Viewing Reports Reports are essentially static. For analysis, users have to either export The formats are vulnerable and gets to Excel and are able to review only changed by error in some specific format Uses analytical presentation layers like Static Report Designer, empower to 1KEY View, 1KEY Cube, 1KEY print various formats Statutory or Chart, 1KEY Dashboard, 1KEY KPI others based on the Role based Viewer etc. inbuilt in the 1KEY Security application
  91. 91. 1KEY BI – Enterprise wide Strategic Tactical Operational
  92. 92. Management Reporting Slice & Dice Contents
  93. 93. Report Management Reporting Report Hierarchy Dimensionality Generate Balance Sheet and Profit & Report hierarchies cannot be defined; Loss account in Local as well as hence data management at the Reporting currency at the defined reporting front is cumbersome translation rate in any denominations (Actual/Thousands /Lakhs/Millions etc.) Organization hierarchy is supported at the report level. i.e.: Report templates Similarly a HO user can access to the can be the same, but user will be able to whole set of data even being in the view only data pertinent to his function branch office / role in the organization
  94. 94. Management Reporting Parameterized Reporting
  95. 95. Compliance Reporting Profit & Loss Columnar Schedule
  96. 96. Compliance Reporting Profit & Loss Columnar
  97. 97. Report Availability Report generation & Role-based report rights information dissemination Requires lot of manual intervention Users need to segregate data and make because users have to develop and it available as different reports for consolidate individual files, run reports different business users and then share them for use by other Business Users Once role-based logins are defined in Query building is a one-time activity the 1KEY application, data is which requires IT intervention. Business automatically segregated as per the Users can run / format / templatise their Business Users role / function own reports
  98. 98. Compliance Reporting Balance Sheet with Comparison
  99. 99. Compliance Reporting Balance Sheet Columnar
  100. 100. Compliance Reporting Balance Sheet Schedule Comparison
  101. 101. Fixed Asset •Define FA Master for Various Companies. •Can be Copied from previously mapped companies or periods.
  102. 102. Fixed Asset •Enter FA Transactions for various companies. • It will automatically capture op. & cl. Bal. from TB.
  103. 103. Compliance Reporting Fixed Asset Schedule
  104. 104. Report Coordination Single Report Multiple Remote Viewing Data Sources One gets snapshots of Requires manual working and data, and is under risk of latest prone to errors file getting missed in review One time query built-up activity and a XML based publishing of data for remote single report can show data from analytics. The user can use the power of multiple data-sources which can be Analytics when not connected to different RDBMSs as well i.e.: Network / Internet SQL, Oracle, DB2, Excel etc.
  105. 105. Power Users and TOP Management Analytical KPI / Dashboard Reporting Highlighting Variances and Data is at Summary Level only and providing visual references is a cannot be segregated for analysis challenge in Spread-Sheet based in the same report Working Cube creation happens at the High level snapshots are possible Business User level. Analysis is to be given with ROLE Based possible on every parameter with access control for Total Business one-time technical activity Visibility
  106. 106. Management Financial Dashboards Reporting
  107. 107. Management KEY Performance Indicator Reporting & Hierarchical Reporting
  108. 108. Governance & Compliance Cost of Audit Trail Compliance Repetitive Energy is invested in regrouping the same data for Current EXCEL process lacks trace of different compliance and the changes and hence reduces reviews, leading to increase in Cost confidence on output and Time It reduces TIME to CLOSE, provides Exhaustive Audit Trails for the Data Single Interface for Multiple Capture and Change Cycles provides Compliance Reporting Structures at greater visibility on the activity and One Source - Leading to Great Savings enhances confidence in the process
  109. 109. IFRS Readiness
  110. 110. IFRS Readiness
  111. 111. Audit Functionality Filtering, Indexing and Sorting Duplicate detection Sequence checking Gap Detection Extraction, Stratification Classification, Aging & Summarize Field Manipulation & Find
  112. 112. Notes to Accounts To upload or enter Notes to Accounts.
  113. 113. Notes to Accounts
  114. 114. Technology Advantage Technology Centralized DW Platform Require stand Alone Balance Use of FILE Based platform is Sheet, Profit & Loss account and vulnerable in large group working related schedules and notes as per Regulation. Uses standard RDBMS retrieval as Branch users would have restricted well as 1KEY technology & access to the data pertaining to his / architecture to Extract, Transform & her branch, though connected to Load data the Central DW
  115. 115. Architecture of 1KEY Agile
  116. 116. 1KEY FCM data flow - Mapping of Ledger PROCESS Reporting Codes with of the TRIAL BALANCE Predefined Schedule Data Location 1 VI Structures - Additional Journal 1KEY for Entries Analytics TRIAL BALANCE - Currency Details Location 2 etc. Excel for Conversion of multiple Further TBs into processing TRIAL BALANCE 1KEYFCM Location 3 Processing Warehous Static e * Consolidated TB Reporter * for P&L, B/S, Schedul TRIAL BALANCE Formatted Location ‘n’ es Printing * Ratio Analysis * Special Reports
  117. 117. 1KEY FCM Flow
  118. 118. Scalable & Volume Handling Capability to be scaled to analyze multi- user, multi-location accounting packages and should be able to handle large amount of accounting data
  119. 119. Risks / Pitfalls to Watch out for Successful Implementation • Kick off meeting involving the stake-holders of the project • Clarity of expectations at the early stage of Project Planning • Involvement of Internal Team in the process • Ownership to be shared with Implementation Partners, they shall be out after 1st Phase of working • Regular Review and monitoring of the Implementation Project jointly with Stakeholders
  120. 120. 1KEY Financial Consolidation is a complete data warehouse model •• with Bearing in mind that each group of companies – standard statutory reporting requirements for has different information needs, and therefore publishing financial statements different data processing – extensive analytical reports. requirements, configure solutions based on – provides ability to rapidly close and report actual needs to help your team save time and effort in aresults, financial streamlined group reporting – meet global regulatory requirements, their effort process: your team can now focus – reduce compliance costs on other high priority jobs that add more – provide confidence in the numbers. values to the organization.
  121. 121. Summary of Steps / Action Points Lock Period for Define Apply Currency Review Results & Changes and just Organizational Rates & Conversion Make Changes review reports Hierarchy Rules throughout across Solution for all Record Elimination Record Multiple Create User Groups levels and Consolidation Budgets and and Assign Rights strategic, tactical & Entries Analyze variances operational Configure Cash Print / Share Create Multiple Post Trial Balance Flow, Fund Flow, Standard Reports & Chart of Account Journals Ratios, etc. Outputs. Attach Additional Enable Creative Import / Re-Import Mapping GL’s to Inputs – Notes to thinking with data Trial Balance Reporting Heads Accounts, etc. analysis
  122. 122. Thank You Always Accessible for you CA Ashwin Dedhia Director, MAIA Intelligence EMAIL : ashwin@maia-intelligence.com Mobile: +91 9920949292

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