Delivering Accountability Across the Enterprise With Hyperion Financial Management At TV Guide Diane Furst, Manager Financ...
Introduction <ul><li>Gemstar-TV Guide leapfrogged from HFM 3.0 to powerful new 3.5 features.  </li></ul><ul><li>Upgrade pr...
Agenda <ul><li>Company Overview </li></ul><ul><li>Starting Point – Live on Hyperion Financial Management 3.0 for Actual Sc...
Company Overview <ul><li>Gemstar-TV Guide International is a leading, global media and technology company that develops, l...
Company Overview <ul><li>General: </li></ul><ul><li>Over $800M in annual revenue </li></ul><ul><li>Over 2,000 employees </...
Company Overview <ul><li>Business Segments: </li></ul><ul><li>Publishing - TV Guide Magazine, TV Guide Online, Merchandise...
Answerthink Overview <ul><li>Service Offerings </li></ul><ul><li>Full Implementations  </li></ul><ul><li>Upgrades  </li></...
Budget and Monthly Reforecast Issues <ul><li>Manual and labor-intensive – Excel spreadsheets </li></ul><ul><li>Error-prone...
Budget Project Objectives/Benefits <ul><li>Improve timeliness of budget/forecast consolidation & reporting </li></ul><ul><...
Approach <ul><li>Redesign the planning processes, yet keep users with their tools and charts of accounts for budget creati...
Budget Project Timeline <ul><li>Jun | Jul | Aug | Sep | Oct | Nov | Dec | 2004 </li></ul><ul><li>Business Process Redesign...
Improve the Planning Process HYPERION REPORTS HYPERION FINANCIAL MANAGEMENT J D Edwards Epicor GL Foreign Files Platinum G...
Application Dimensions <ul><li>Entity – Managerial: Segment -> Business Unit -> Product </li></ul><ul><li>Account – Balanc...
Budget Load Methods <ul><li>TV Guide Magazine - JDE data entry, extract, and HAL load to HFM </li></ul><ul><li>Cable & Sat...
Budget Process Data Flow
Budget Template with VBA Button Your Logo Here
Text File Exported by VBA Script Your Logo Here
Forecast Data Roll Summary <ul><li>ETC Scenario – Estimate to Complete </li></ul><ul><li>All data loads, data entry via We...
Business Process Change <ul><li>Process change was critical to successful transformation of budget process </li></ul><ul><...
SVP Finance to CFO “ ----- Original Message----- From:  SVP Finance  To: Team CC: Chief Financial Officer Subject:  Hyperi...
Lessons Learned <ul><li>Lock down Templates so business units cannot copy rows </li></ul><ul><li>Test, Test, Test   </li><...
Improve Planning Process Final Results <ul><li>Old Budget Process </li></ul><ul><ul><li>Excel-based consolidation process ...
Hyperion Financial Management  3.5  Upgrade Project
Issues To Be Resolved for SOX Compliance <ul><li>Original security design weaknesses </li></ul><ul><li>Hyperion Applicatio...
Security Redesign <ul><li>New security classes for scenarios </li></ul>Your Logo Here
Security Role Access Matrix Your Logo Here
Security Redesign – Process Flow Your Logo Here
Security Redesign – Journal Flow Your Logo Here
Security Redesign – Role, Class Access Your Logo Here
Upgrade Project Objectives & Benefits <ul><li>New features needed for Sarbanes-Oxley compliance </li></ul><ul><li>Revised ...
Project Plan  Your Logo Here
Financial Systems Server Layout
New Features <ul><li>Home page with Tasks, Favorites, and Links </li></ul><ul><li>Workspaces tailored to each Business Uni...
New Home Page with Tasks, Links Your Logo Here
New Process Management Screen Your Logo Here
New Task Audit Your Logo Here
New Data Audit Your Logo Here
New Entity Details Screen Your Logo Here
Final Results <ul><li>Improved financial controls on HFM 3.5 </li></ul><ul><li>Task Audit shows all tasks filtered by user...
Earnings Call, 2/23/2005 “ There is no  material deficiency  or  significant weakness.”
Delivering Accountability Across the Enterprise With Hyperion Financial Management  At TV Guide Diane Furst, Manager Finan...
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Diane furst solutions2005#3050v5

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Diane furst solutions2005#3050v5

  1. 1. Delivering Accountability Across the Enterprise With Hyperion Financial Management At TV Guide Diane Furst, Manager Financial Systems – Gemstar-TV Guide International, Inc. Eric Erikson, Regional Practice Lead – Answerthink, Inc. Session #3050
  2. 2. Introduction <ul><li>Gemstar-TV Guide leapfrogged from HFM 3.0 to powerful new 3.5 features. </li></ul><ul><li>Upgrade provided excellent tools for Sarbanes-Oxley compliance. </li></ul><ul><li>Enhanced capabilities to accommodate Actual, Budget and Forecast data, manage performance, maintain consistent processes to deliver greater accountability across the enterprise. </li></ul><ul><li>Future plans include Gemstar-TV Guide's vision for delivering executive dashboards. </li></ul>Your Logo Here
  3. 3. Agenda <ul><li>Company Overview </li></ul><ul><li>Starting Point – Live on Hyperion Financial Management 3.0 for Actual Scenario only </li></ul><ul><li>Budget/Forecast Project Objectives and Goals </li></ul><ul><ul><li>Project Overview – New Budget, Forecast Scenarios, Data Roll </li></ul></ul><ul><ul><li>Lessons Learned, Final Results </li></ul></ul><ul><li>Hyperion Financial Management 3.5 Upgrade Project Objectives and Goals </li></ul><ul><ul><li>Project Overview – Process Management screen, Data & Task Audit for SOX </li></ul></ul><ul><ul><li>Lessons Learned, Final Results </li></ul></ul><ul><li>Q & A </li></ul>Your Logo Here
  4. 4. Company Overview <ul><li>Gemstar-TV Guide International is a leading, global media and technology company that develops, licenses, markets and distributes products and services that simplify and enhance television guidance and consumer entertainment. </li></ul><ul><li>The Company's businesses include television media and publishing properties, interactive program guide services and products, and technology and intellectual property licensing, which are united and marketed under the renowned TV Guide ® name, one of the most widely-recognized, trusted and valued brands in the world. </li></ul>Your Logo Here
  5. 5. Company Overview <ul><li>General: </li></ul><ul><li>Over $800M in annual revenue </li></ul><ul><li>Over 2,000 employees </li></ul><ul><li>International, multi-currency </li></ul><ul><li>Budget stored in 3 General Ledger systems: </li></ul><ul><li>J.D. Edwards World, Epicor (two instances) </li></ul><ul><li>Lawson HR System for headcount </li></ul><ul><li>Corporate office in Hollywood, California </li></ul>Your Logo Here
  6. 6. Company Overview <ul><li>Business Segments: </li></ul><ul><li>Publishing - TV Guide Magazine, TV Guide Online, Merchandise Licensing, Data Solutions, SkyMall </li></ul><ul><li>Cable & Satellite - TV Guide Channel, Interactive, International, TV Games Network </li></ul><ul><li>Consumer Electronics / Licensing - TV Guide On Screen, GUIDE Plus+, VCR Plus+, Gemstar-TV Guide Europe, norpak Canada </li></ul>Your Logo Here
  7. 7. Answerthink Overview <ul><li>Service Offerings </li></ul><ul><li>Full Implementations </li></ul><ul><li>Upgrades </li></ul><ul><li>Diagnostics & Assessments </li></ul><ul><li>Optimization Services </li></ul><ul><li>Reporting Integration </li></ul><ul><li>Training </li></ul><ul><li>Hyperion Practice </li></ul><ul><li>100’s of implementations and upgrades </li></ul><ul><li>More consultants focused exclusively on Hyperion products – 80+ </li></ul><ul><li>High percentage Hyperion certified consultants </li></ul><ul><li>Focused on all of Hyperion’s applications and technologies </li></ul><ul><ul><li>Financial Consolidations Domain – Hyperion Financial Management and Hyperion Enterprise </li></ul></ul><ul><ul><li>Enterprise Planning Domain – Hyperion Planning and Hyperion Strategic Finance </li></ul></ul><ul><ul><li>Analytics & Reporting Domain – Hyperion BI Platform (Essbase, tools and Performance Suite) </li></ul></ul>
  8. 8. Budget and Monthly Reforecast Issues <ul><li>Manual and labor-intensive – Excel spreadsheets </li></ul><ul><li>Error-prone process </li></ul><ul><li>Master spreadsheet too large to e-mail </li></ul><ul><li>Lack of standard methodology across the enterprise </li></ul><ul><li>Foreign currency translation inconsistencies </li></ul><ul><li>Needed automated Variance Reporting using Actuals scenario </li></ul>Your Logo Here
  9. 9. Budget Project Objectives/Benefits <ul><li>Improve timeliness of budget/forecast consolidation & reporting </li></ul><ul><li>Ensure completeness and accuracy </li></ul><ul><li>Create transparency of budget/forecast data </li></ul><ul><li>Deliver information to management via easy-to-use tools </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>Your Logo Here
  10. 10. Approach <ul><li>Redesign the planning processes, yet keep users with their tools and charts of accounts for budget creation. </li></ul><ul><li>Leverage Hyperion Financial Management technology Hyperion Financial Management used for: </li></ul><ul><ul><li>Budget versions </li></ul></ul><ul><ul><li>Monthly reforecast </li></ul></ul><ul><li>Reporting and analytical functionality </li></ul><ul><li>Hyperion Application Link, VBA, and HFMLNK 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>Your Logo Here
  11. 11. Budget Project Timeline <ul><li>Jun | Jul | Aug | Sep | Oct | Nov | Dec | 2004 </li></ul><ul><li>Business Process Redesign </li></ul><ul><li>Hyperion Implementation for Budget </li></ul><ul><li>Go Live </li></ul><ul><li>Board Book </li></ul><ul><li>Final Report </li></ul>Your Logo Here
  12. 12. Improve the Planning Process HYPERION REPORTS HYPERION FINANCIAL MANAGEMENT J D Edwards Epicor GL Foreign Files Platinum GL Lawson HR BUDGET MANAGEMENT SOLUTION Profit & Loss Capital Expenditure 5-Year Plan Key Perf Indicators Departmental Plans Hyperion Application Link / Translation Manager Executive Dashboard, Extended Analytics – future Board of Directors Package Retrieve Reports for BU Powerpoint Planning, Budgeting and Forecasting Consolidation and Reporting Your Logo Here
  13. 13. Application Dimensions <ul><li>Entity – Managerial: Segment -> Business Unit -> Product </li></ul><ul><li>Account – Balance Sheet, Income Statement, Cash Flow, Statistical (KPIs) </li></ul><ul><li>Scenario – Actual, CurFcst, PriorFcst </li></ul><ul><ul><li>Prior prior forecast i.e. JanFcst, FebFcst . . . DecFcst </li></ul></ul><ul><ul><li>Budget_v1, Budget_v2, Budget_v3, Budget_v4, Budget </li></ul></ul><ul><li>Year – 2001: Dec YTD, 2002: Quarterly, 2003 – 2015: Monthly </li></ul><ul><li>Period – Year -> Quarter 1 – 4 -> Jan - Dec </li></ul><ul><li>Custom 1 – Cost Center i.e. Finance, Customer Svc, IT, Operations </li></ul><ul><li>Custom 2 – Geography i.e. Americas, EMEA, Asia </li></ul><ul><li>Custom 4 - Flow </li></ul>Your Logo Here
  14. 14. Budget Load Methods <ul><li>TV Guide Magazine - JDE data entry, extract, and HAL load to HFM </li></ul><ul><li>Cable & Satellite - Epicor data entry, extract, and HAL load to HFM </li></ul><ul><li>SkyMall - Excel spreadsheet with VB Button exporting text file and load HAL load to HFM </li></ul><ul><li>Consumer Electronics – VBA scriptButton export to text file, load HAL load to HFM </li></ul><ul><li>5 Year Plan - Excel spreadsheet with HFMLNK link to HFM </li></ul><ul><li>Cap Ex - Excel spreadsheet with Link to HFM </li></ul><ul><li>Corp P&L and 5-Yr - Excel spreadsheet with Link to HFM </li></ul>Your Logo Here
  15. 15. Budget Process Data Flow
  16. 16. Budget Template with VBA Button Your Logo Here
  17. 17. Text File Exported by VBA Script Your Logo Here
  18. 18. Forecast Data Roll Summary <ul><li>ETC Scenario – Estimate to Complete </li></ul><ul><li>All data loads, data entry via Web Forms / Data Grids are in the ETC scenario </li></ul><ul><li>During Accounting Close, prior month Actuals are copied to ETC </li></ul><ul><li>ETC scenario is copied to CurFcst scenario for reporting </li></ul><ul><li>At month end, CurFcst is copied to PriorFcst </li></ul><ul><li>PriorFcst is archived in the prior prior fcst scenarios - JanFcst, FebFcst </li></ul>Your Logo Here
  19. 19. Business Process Change <ul><li>Process change was critical to successful transformation of budget process </li></ul><ul><li>Budget Templates submitted earlier </li></ul><ul><li>Improvements in Planning processes </li></ul><ul><li>Foreign currency translation moved to Hyperion from Excel </li></ul><ul><li>Same Chart of Accounts as Actuals </li></ul>Your Logo Here
  20. 20. SVP Finance to CFO “ ----- Original Message----- From: SVP Finance To: Team CC: Chief Financial Officer Subject: Hyperion Budget Validation   HUGE accomplishment! Well done! Truly a team effort!     -----Original Message----- From: Manager FPA To: Team, SVP Finance Subject: Hyperion Budget Validation   Validation was successfully completed by all Business Units and Corporate. The total Revenue and EBITDA for the year agrees to our budget master file within rounding .”
  21. 21. Lessons Learned <ul><li>Lock down Templates so business units cannot copy rows </li></ul><ul><li>Test, Test, Test </li></ul>Your Logo Here
  22. 22. Improve Planning Process Final Results <ul><li>Old Budget Process </li></ul><ul><ul><li>Excel-based consolidation process </li></ul></ul><ul><ul><li>Highly manual </li></ul></ul><ul><ul><li>Lack of reporting and analytical capabilities </li></ul></ul><ul><ul><li>Lack of financial controls </li></ul></ul><ul><li>New Budget Process </li></ul><ul><ul><li>Hyperion Financial Management, Reports </li></ul></ul><ul><ul><li>Highly automated </li></ul></ul><ul><ul><li>More detailed data </li></ul></ul><ul><ul><li>Improved reporting and analytical capabilities </li></ul></ul><ul><ul><li>Improved financial controls </li></ul></ul>Your Logo Here
  23. 23. Hyperion Financial Management 3.5 Upgrade Project
  24. 24. Issues To Be Resolved for SOX Compliance <ul><li>Original security design weaknesses </li></ul><ul><li>Hyperion Application Link design issues </li></ul><ul><li>System stability – 2-tier with web server, combined application-database server </li></ul><ul><li>3 rd party web application server software issue </li></ul><ul><li>Time-consuming Data Grid drill-down to review Process Management </li></ul><ul><li>No method to audit Data Entry </li></ul><ul><li>Task traceability issue for separation of duties </li></ul><ul><li>No detection of users logged on </li></ul>Your Logo Here
  25. 25. Security Redesign <ul><li>New security classes for scenarios </li></ul>Your Logo Here
  26. 26. Security Role Access Matrix Your Logo Here
  27. 27. Security Redesign – Process Flow Your Logo Here
  28. 28. Security Redesign – Journal Flow Your Logo Here
  29. 29. Security Redesign – Role, Class Access Your Logo Here
  30. 30. Upgrade Project Objectives & Benefits <ul><li>New features needed for Sarbanes-Oxley compliance </li></ul><ul><li>Revised security design ensuring data integrity </li></ul><ul><li>HAL Optimization to automate the extract/load process </li></ul><ul><li>Improve system availability, stability </li></ul><ul><li>Process Management promotion view </li></ul>Your Logo Here
  31. 31. Project Plan Your Logo Here
  32. 32. Financial Systems Server Layout
  33. 33. New Features <ul><li>Home page with Tasks, Favorites, and Links </li></ul><ul><li>Workspaces tailored to each Business Unit </li></ul><ul><li>Wizard for Web Data Entry Form developer </li></ul><ul><li>Process Management screen </li></ul><ul><li>Users on System </li></ul><ul><li>System Messages </li></ul><ul><li>Task Audit </li></ul><ul><li>Data Audit </li></ul><ul><li>Entity Details screen </li></ul>Your Logo Here
  34. 34. New Home Page with Tasks, Links Your Logo Here
  35. 35. New Process Management Screen Your Logo Here
  36. 36. New Task Audit Your Logo Here
  37. 37. New Data Audit Your Logo Here
  38. 38. New Entity Details Screen Your Logo Here
  39. 39. Final Results <ul><li>Improved financial controls on HFM 3.5 </li></ul><ul><li>Task Audit shows all tasks filtered by user </li></ul><ul><li>Data Audit shows date, time, user, amount entered </li></ul><ul><li>Process Management shows date, time, user who promoted, comments </li></ul>Your Logo Here
  40. 40. Earnings Call, 2/23/2005 “ There is no material deficiency or significant weakness.”
  41. 41. Delivering Accountability Across the Enterprise With Hyperion Financial Management At TV Guide Diane Furst, Manager Financial Systems—Gemstar-TV Guide International, Inc. [email_address] 323-817-4742 Please Complete Your Session Evaluation Session #3050 Eric Erikson, Regional Practice Lead—Answerthink, Inc. [email_address] 360-546-0944

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