Achieving Best Practices With Hyperion at Gemstar-TV Guide International, Inc. Presented by: Diane Furst, Manager Financia...
Agenda <ul><li>Company Overview </li></ul><ul><li>Starting Point </li></ul><ul><li>Project Objectives and Goals </li></ul>...
Company Overview
Company Overview <ul><li>Enhance and simplify on-screen entertainment </li></ul><ul><li>TV Guide is the source for enterta...
Business Segments <ul><li>Publishing </li></ul><ul><li>TV Guide Magazine </li></ul><ul><li>TV Guide Online </li></ul><ul><...
Background
Starting Point <ul><li>Month-end close process issues </li></ul><ul><ul><li>20 business day cycle </li></ul></ul><ul><ul><...
Project Objectives and Benefits <ul><li>Provide a “single version of the truth” </li></ul><ul><li>Significantly increase c...
Approach & Solution <ul><li>Approach </li></ul><ul><ul><li>Redesign business processes </li></ul></ul><ul><ul><li>Implemen...
Project Overview
Project Overview Aug ‘03 Business Process Redesign Hyperion Implementation Jan ‘04 Dec Nov Oct Sept Feb Go-Live
Team Structure
Use of Consultants <ul><li>Utilized a combined team of Hyperion and niche vendor consultants </li></ul><ul><ul><li>Hyperio...
Project Plan
Training <ul><li>Successfully utilized Hyperion Education Services </li></ul><ul><ul><li>Computer-based training </li></ul...
Reference Card Sample
Application Overview
Application Dimensions Managerial: Segment   Business Unit  Product Legal: Company   Product Entity Balance Sheet Incom...
Monthly Close Workflow Summary <ul><li>Process management slide </li></ul>
Process Management Workflow Diagram
Process Management  Promotion Grid     Corporate Accounting Publish Consolidated Data Validation & Top-side entries Busine...
Security Matrix by Entity
Security Matrix by Role
Hyperion Application Link <ul><li>Used to automatically translate and load data from various general ledgers into Hyperion...
Business Process Change <ul><li>Business process changes are critical to a successful transformation of the month-end clos...
Lessons Learned <ul><li>Technical complexity: Involve Information Technology experts early; Finance can not go it alone </...
Data Integration Complexity 3 General Ledger Systems Data Transformation (Mapping) Consolidation System Data Transformatio...
Lessons Learned  (Continued) <ul><li>Incorporate business process change with system implementation </li></ul><ul><li>Trai...
Final Results <ul><li>Old Close Process </li></ul><ul><li>Month-end close cycle was 20 business days </li></ul><ul><li>Exc...
Quotes from Users “ Within the first month the system enabled us to reduce manual data entry and improve data integrity”  ...
Questions?
Achieving Best Practices With Hyperion at Gemstar-TV Guide International, Inc. Presented by: Diane Furst, Manager Financia...
Upcoming SlideShare
Loading in …5
×

3051 a furst_diane_8

428 views
398 views

Published on

Diane Furst re: Hyperion

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
428
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
8
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

3051 a furst_diane_8

  1. 1. Achieving Best Practices With Hyperion at Gemstar-TV Guide International, Inc. Presented by: Diane Furst, Manager Financial Systems Steve Griffin, Vice President Corporate Systems TV GUIDE Session #3051A
  2. 2. Agenda <ul><li>Company Overview </li></ul><ul><li>Starting Point </li></ul><ul><li>Project Objectives and Goals </li></ul><ul><li>Project Overview </li></ul><ul><li>Application Overview </li></ul><ul><li>Lessons Learned </li></ul><ul><li>Final Results </li></ul><ul><li>Q & A </li></ul>
  3. 3. Company Overview
  4. 4. Company Overview <ul><li>Enhance and simplify on-screen entertainment </li></ul><ul><li>TV Guide is the source for entertainment information that empowers TV fans to make the most of their relationship with the world of television </li></ul><ul><li>General : </li></ul><ul><ul><li>Over $800M in annual revenue </li></ul></ul><ul><ul><li>Over 2,000 employees </li></ul></ul><ul><ul><li>International (multicurrency) </li></ul></ul><ul><ul><li>3 General Ledger systems: J.D. Edwards World, Epicor (two instances) </li></ul></ul><ul><ul><li>Corporate based in Hollywood, California </li></ul></ul>
  5. 5. Business Segments <ul><li>Publishing </li></ul><ul><li>TV Guide Magazine </li></ul><ul><li>TV Guide Online </li></ul><ul><li>Data Services </li></ul><ul><li>SkyMall </li></ul><ul><li>Cable & Satellite </li></ul><ul><li>TV Guide Channel </li></ul><ul><li>TV Games Network </li></ul><ul><li>TV Guide Interactive </li></ul><ul><li>TV Guide International </li></ul><ul><li>Consumer Electronics </li></ul><ul><li>VCR Plus+ </li></ul><ul><li>Guide Plus+/TV Guide On Screen </li></ul>
  6. 6. Background
  7. 7. Starting Point <ul><li>Month-end close process issues </li></ul><ul><ul><li>20 business day cycle </li></ul></ul><ul><ul><li>Manually intensive processes – Excel spreadsheets </li></ul></ul><ul><ul><li>Multiple General Ledger systems </li></ul></ul><ul><ul><li>Foreign currency translation inconsistencies </li></ul></ul><ul><ul><li>Lack of standard accounting practices </li></ul></ul><ul><ul><li>Inter-company/elimination process issues </li></ul></ul><ul><li>Lack of management information </li></ul><ul><li>Shortage of analytical and reporting capabilities </li></ul><ul><li>Weak financial controls and data integrity </li></ul>
  8. 8. Project Objectives and Benefits <ul><li>Provide a “single version of the truth” </li></ul><ul><li>Significantly increase compliance with Sarbanes-Oxley </li></ul><ul><li>Increase and improve internal controls </li></ul><ul><ul><li>Improve timeliness of consolidations and reporting </li></ul></ul><ul><ul><li>Improve audit trails </li></ul></ul><ul><ul><li>Ensure completeness and accuracy of financial results </li></ul></ul><ul><ul><li>Create transparency of financials </li></ul></ul><ul><li>Deliver information to management via easy-to-use tools </li></ul><ul><li>Decrease closing cycle: Goal is 5 days </li></ul><ul><li>Free up time for more qualitative analysis </li></ul><ul><li>Improve efficiency and productivity through automation </li></ul><ul><li>Standardize data structures </li></ul><ul><li>Promote business unit ownership of data </li></ul>
  9. 9. Approach & Solution <ul><li>Approach </li></ul><ul><ul><li>Redesign business processes </li></ul></ul><ul><ul><li>Implement new technology </li></ul></ul><ul><li>Hyperion Financial Management used for: </li></ul><ul><ul><li>G/L consolidation </li></ul></ul><ul><ul><li>Reporting and analytical functionality </li></ul></ul><ul><li>Hyperion Application Link used for data integration </li></ul><ul><li>Reporting delivered via: </li></ul><ul><ul><li>Hyperion Reports </li></ul></ul><ul><ul><li>Excel Add-ins: Pivot and Retrieve </li></ul></ul><ul><ul><li>Hyperion Analyzer (next phase) </li></ul></ul>
  10. 10. Project Overview
  11. 11. Project Overview Aug ‘03 Business Process Redesign Hyperion Implementation Jan ‘04 Dec Nov Oct Sept Feb Go-Live
  12. 12. Team Structure
  13. 13. Use of Consultants <ul><li>Utilized a combined team of Hyperion and niche vendor consultants </li></ul><ul><ul><li>Hyperion provided product expertise and best practices </li></ul></ul><ul><ul><li>Team included experienced CPA/Controller individual to drive business process redesign </li></ul></ul><ul><ul><li>Cross-training of employees was key to a successful transition of support </li></ul></ul>
  14. 14. Project Plan
  15. 15. Training <ul><li>Successfully utilized Hyperion Education Services </li></ul><ul><ul><li>Computer-based training </li></ul></ul><ul><ul><li>Customized classroom instruction </li></ul></ul><ul><ul><ul><li>Training manuals </li></ul></ul></ul><ul><ul><ul><li>Reference cards </li></ul></ul></ul><ul><ul><li>Portable classrooms </li></ul></ul><ul><ul><li>Hyperion trainer </li></ul></ul><ul><li>Rationale: </li></ul><ul><ul><li>Lower cost per student </li></ul></ul><ul><ul><li>No internal resources available </li></ul></ul><ul><ul><li>Professional trainer </li></ul></ul><ul><ul><li>Ability to update and maintain training material internally </li></ul></ul><ul><ul><li>Utilization of training material for future classes </li></ul></ul><ul><ul><li>Higher-quality results </li></ul></ul>
  16. 16. Reference Card Sample
  17. 17. Application Overview
  18. 18. Application Dimensions Managerial: Segment  Business Unit  Product Legal: Company  Product Entity Balance Sheet Income Statement Cash Flow Statistical (KPIs) Account Actual Budget Current Forecast Prior Forecast Scenario 2001: Dec YTD 2002: Quarterly 2003: Monthly Year Year  Quarter 1  Jan Feb Mar Period Finance Customer Srvc IT Operations  Co 72  cc12345 Custom 1 Cost Center North America Europe  Luxemburg Custom 3 Geography
  19. 19. Monthly Close Workflow Summary <ul><li>Process management slide </li></ul>
  20. 20. Process Management Workflow Diagram
  21. 21. Process Management Promotion Grid     Corporate Accounting Publish Consolidated Data Validation & Top-side entries Business Unit Controller Submitted Final Validation of Business Unit Data Business Unit Accountant Review Level 1 Data Validated against G/L & Inter-co matching Administrator First Pass Data Loaded and Consolidated Not Started Starting Point Responsibility Level Process
  22. 22. Security Matrix by Entity
  23. 23. Security Matrix by Role
  24. 24. Hyperion Application Link <ul><li>Used to automatically translate and load data from various general ledgers into Hyperion Financial Management </li></ul><ul><li>Translation Manager used for accounting mappings </li></ul><ul><ul><li>(Four tables encompass mapping for 43 ledgers) </li></ul></ul><ul><li>Executables developed to run on the server; translation and load process takes minutes </li></ul><ul><li>Future plans include automating the scheduling of data extracts and loads to enable overnight processing </li></ul>
  25. 25. Business Process Change <ul><li>Business process changes are critical to a successful transformation of the month-end close process </li></ul><ul><li>Stated objective to reduce the close cycle along with renewed focus of the Accounting group resulted in several improvements before project was in full swing </li></ul><ul><li>Data files submitted earlier </li></ul><ul><li>Improvements in Accounting processes </li></ul><ul><ul><ul><li>Standard intercompany policy instituted </li></ul></ul></ul><ul><ul><ul><li>Standard COA created </li></ul></ul></ul><ul><ul><ul><li>Foreign currency translation moved to Hyperion from Excel </li></ul></ul></ul>
  26. 26. Lessons Learned <ul><li>Technical complexity: Involve Information Technology experts early; Finance can not go it alone </li></ul><ul><li>Focus on application design; Utilize experienced Hyperion Financial Management people </li></ul><ul><li>Conduct thorough current state assessment; Uncover rocks upfront </li></ul>
  27. 27. Data Integration Complexity 3 General Ledger Systems Data Transformation (Mapping) Consolidation System Data Transformation (Mapping) Consolidation System 43 Separate Ledgers on 3 G/L Systems Planned Actual Surprise!
  28. 28. Lessons Learned (Continued) <ul><li>Incorporate business process change with system implementation </li></ul><ul><li>Training and change management is critical to success </li></ul><ul><li>Gain a thorough understanding of security before finalizing design </li></ul>
  29. 29. Final Results <ul><li>Old Close Process </li></ul><ul><li>Month-end close cycle was 20 business days </li></ul><ul><li>Excel-based consolidation process </li></ul><ul><li>Highly manual </li></ul><ul><li>Summary data only </li></ul><ul><li>Lack of reporting and analytical capabilities </li></ul><ul><li>Lack of financial controls </li></ul><ul><li>Quarterly hard close </li></ul><ul><li>New Close Process </li></ul><ul><li>Month-end close cycle down to 5 business days </li></ul><ul><li>Hyperion Financial Management, Reports </li></ul><ul><li>Highly automated </li></ul><ul><li>More detailed data </li></ul><ul><li>Improved reporting and analytical capabilities </li></ul><ul><li>Improved financial controls </li></ul><ul><li>Monthly hard close </li></ul>
  30. 30. Quotes from Users “ Within the first month the system enabled us to reduce manual data entry and improve data integrity” – SkyMall Controller “ The time it takes us to create management reports has been cut in half by using Retrieve spreadsheets” – Director of Finance, Consumer Electronics “ For the first time, we were able to publish a monthly executive management report book by pushing a button, thus providing meaningful information to decision makers in a more timely manner ” – Corporate CFO
  31. 31. Questions?
  32. 32. Achieving Best Practices With Hyperion at Gemstar-TV Guide International, Inc. Presented by: Diane Furst, Manager Financial Systems [email_address] Steve Griffin, Vice President Corporate Systems [email_address] Session #3051A Please Complete Your Session Evaluation

×