IFRS, XBRL

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  • Top CFO Themes - Performance Management: Performance Management is the top challenge for CFOs and thus the top area for improvement: Looking to link targets to consistent / coherent frameworks and cascade targets down through the organization Existing PM tools fall short in providing an integrated view across dimensions such as product, customer and supplier and enhancements here could add significant business value Many are looking to put more information into the hands of management/others via better use of existing ERP investments and self service or role based data CFOs recognize a need to improve information collection to support analysis and decisions CFO's see a need to improve timeliness, depth and transparency of data, to support analysis and decisions and also to assist with ensuring regulatory compliance Only a third of CFOs feel performance management was supported by appropriate information PM is not yet operationalised – it has not yet been cascaded effectively to individual levels nor is it fully embedded in targets Financial measures currently dominate performance management but CFOs are looking to add economic value measures Getting the right KPIs – focusing on the wrong info, too many in some cases, too few sometimes, not the right ones Integration of financial and management reporting and data flows remains a significant challenge for many; the driver for integration is process and systems simplification Internal vs. external, financial vs. non-financial
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  • Trevor XBRL International – an international consortium of over 200 organizations including software companies, consulting organizations and standards bodies like the International Accounting Standards Committee Foundation (IASCF)
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  • IFRS, XBRL

    1. 1. IFRS, XBRL and Business Performance Management (BPM) Control, confidence and automation of global compliance reporting
    2. 2. Agenda <ul><li>Finance industry trends </li></ul><ul><li>Business Performance Management (BPM) defined </li></ul><ul><li>BPM’s value proposition </li></ul><ul><li>Automated delivery of compliance reporting </li></ul><ul><li>Benefits, future leverage and client activities </li></ul>
    3. 3. Introduction <ul><li>Trevor Walker </li></ul><ul><ul><li>VP, Product Marketing Cartesis </li></ul></ul><ul><ul><li>Driving global product strategy </li></ul></ul><ul><ul><li>10 years BPM and reporting experience </li></ul></ul><ul><ul><li>4 years in IT and integration infrastructures </li></ul></ul>
    4. 4. <ul><li>We provide multinational companies with a unique best of breed, real-time collaborative business performance management solution to “ deliver the whole story behind the numbers &quot; with unparalleled clarity and insight. </li></ul>Cartesis is a leading global software provider focused on Business Performance Management
    5. 5. Cartesis has been delivering BPM for over 14 years <ul><li>Full Service Software Company founded in 1990 </li></ul><ul><li>The Cartesis Suite </li></ul><ul><ul><li>Cartesis Magnitude, Magnitude Planning, Magnitude iAnalysis and Cartesis ICS </li></ul></ul>1990 1997 1999 2002 2004
    6. 6. The Top Five CFO Challenges from a recent survey <ul><li>Improving performance management </li></ul><ul><li>Improving governance, controls, risk management </li></ul><ul><li>Improving planning, forecasting and budgeting </li></ul><ul><li>Improving access to appropriate information </li></ul><ul><li>Improving competencies/skills </li></ul>Four of the top five challenges are dependent on creating an integrated BPM infrastructure for unified reporting and performance management
    7. 7. These trends drive toward key best practices in performance management <ul><li>Integrated BPM process and system framework </li></ul><ul><li>Streamlined data flows </li></ul><ul><li>Enhanced data granularity and transparency </li></ul><ul><li>Consistent fiscal and management data views </li></ul><ul><li>Unified compliance and management reporting </li></ul><ul><li>Ability to expose metrics to dashboards/scorecards for monitoring, alerting and optimization </li></ul><ul><li>Ability to layer in internal and external benchmarking </li></ul>
    8. 8. So what is Business Performance Management (BPM)? <ul><li>BPM is a set of integrated , closed-loop management and analytic processes, supported by technology , that address financial as well as operational activities. </li></ul><ul><li>BPM is an enabler for businesses in defining strategic goals, and then measuring and managing performance against those goals. </li></ul><ul><li>Core BPM processes include financial and operational planning, consolidation and reporting, modeling, analysis, and monitoring of key performance indicators (KPIs) linked to organizational strategy. </li></ul>
    9. 9. Unifies financial, compliance, risk and management reporting Corporate Governance <ul><li>Strategic Planning </li></ul><ul><li>Performance Measurement </li></ul><ul><li>Business Modeling </li></ul><ul><li>Budgeting </li></ul>Finance Customer Human Resources <ul><li>Operational Finance </li></ul><ul><li>Analysis & Reporting </li></ul><ul><li>Forecasting </li></ul><ul><li>Consolidation </li></ul><ul><li>Segmentation </li></ul><ul><li>Profitability </li></ul><ul><li>Market Success Factor </li></ul><ul><li>Analysis </li></ul><ul><li>Salary & Comp Planning </li></ul><ul><li>Employee turnover </li></ul><ul><li>& retention </li></ul><ul><li>Incentive management </li></ul>
    10. 10. BPM and the impacts of XBRL Regulatory compliance BPM & Process management BPM Integration - ERP, SCM, PLM, CRM and HCM - BI BPM Analytics - Scorecard, dashboard Software Performance & Availability Real-Time BPM Financial Consolidation & Reporting Planning/budgeting - Discrete Deterministic - Discrete Predictive - Continuous Predictive <ul><li>Technology </li></ul><ul><li>trends </li></ul><ul><li>BPM Components, </li></ul><ul><li>SOA, web services </li></ul><ul><li>BPM Metadata repository </li></ul><ul><li>Distributed access </li></ul><ul><li>Central hub/portal </li></ul>
    11. 11. BPM and the impacts of XBRL Regulatory compliance BPM & Process management BPM Integration - ERP, SCM, PLM, CRM and HCM - BI BPM Analytics - Scorecard, dashboard Software Performance & Availability Real-Time BPM Financial Consolidation & Reporting Planning/budgeting - Discrete Deterministic - Discrete Predictive - Continuous Predictive <ul><li>Technology </li></ul><ul><li>trends </li></ul><ul><li>BPM Components, </li></ul><ul><li>SOA, web services </li></ul><ul><li>BPM Metadata repository </li></ul><ul><li>Distributed access </li></ul><ul><li>Central hub/portal </li></ul>
    12. 12. Value proposition of XBRL with BPM <ul><li>Bridge the gap between systems, accounting standards and global reporting </li></ul><ul><li>Enables standard way of tagging financial information for structure, content and meaning </li></ul><ul><li>Direct comparability of internal and external financial information </li></ul><ul><li>Essential part of making IFRS data globally accessible, consistent and comparable </li></ul>
    13. 13. XBRL solves current issues with global financial and compliance reporting <ul><li>Thousands of companies release financial results internally and externally daily, monthly, quarterly, and annually </li></ul><ul><li>Contents are not organized </li></ul><ul><li>Processes are not repeatable </li></ul><ul><li>Lots of data must be re-keyed </li></ul><ul><li>No easy way to compare internally, let alone externally </li></ul>
    14. 14. XBRL provides strategic and cost reduction benefits <ul><li>Streamlined processes for collecting, comparing and reporting financial information </li></ul><ul><li>Reduced costs </li></ul><ul><li>Improved financial communication and transparency </li></ul><ul><li>Increased data accuracy </li></ul><ul><li>Direct comparability </li></ul><ul><li>Multi languages and accounting standards support </li></ul><ul><li>Improved risk management and control </li></ul><ul><li>Ease of maintenance </li></ul><ul><li>Faster, more reliable and extended scope of analysis capabilities for better decision-making </li></ul>
    15. 15. Strategic value is the direct comparability of internal and external financial information Comparability
    16. 16. And the automation, transparency, and comparability <ul><li>One time setup of tags and maps for automated processing </li></ul><ul><li>Rich set of tools embedded in products like Cartesis Magnitude </li></ul><ul><li>Transparency from source through disclosure to compliance agencies </li></ul><ul><li>Investors and analysts easy side-by-side and line-by-line comparison </li></ul><ul><li>Different languages and accounting standards in a single solution delivers on the “single truth” message </li></ul>
    17. 17. Organizations are challenged by many reporting needs and no standard delivery Financial Publishers & Data Aggregators Companies Trading Partners Management Accountants Auditors Regulators Investors Central Banks Other Stakeholders Financial Control, Planning, Forecasting, Process, Validation, etc… Sources Disclosure Legacy ERP CRM SCM… GL
    18. 18. XBRL optimizes the information supply chain with a standard way to deliver reports Financial Publishers & Data Aggregators Companies Trading Partners Management Accountants Auditors Regulators Investors Central Banks Other Stakeholders Financial Control, Planning, Forecasting, Process, Validation, etc… Sources Disclosure Legacy ERP CRM SCM… GL XBRL XBRL
    19. 19. Cartesis is involved globally and strategy to match client and market needs <ul><li>Member of the IASB IT Discussion Group and will be a member of the French XBRL jurisdiction </li></ul><ul><li>Our strategy </li></ul><ul><ul><li>Step 1: Publish </li></ul></ul><ul><ul><li>Step 2: Consume </li></ul></ul><ul><ul><li>In Parallel: Embedded capabilities & setting </li></ul></ul>
    20. 20. Allowing organizations to leverage and capitalize on their BPM investments Single XBRL mapping for all compliance reporting needs
    21. 21. 6 steps to publishing XBRL from Cartesis <ul><li>Import the published taxonomy </li></ul><ul><li>Map chart of accounts to taxonomy </li></ul><ul><li>Pull Cartesis Magnitude data into an XBRL instance documents </li></ul><ul><li>Supplement taxonomy items and instance documents as required </li></ul><ul><li>Run controls and calculations included in the taxonomy </li></ul><ul><li>Publish and email the XBRL file </li></ul>Setup Once Repeatable
    22. 22. Publishing XBRL compliance reports – Step 1 Account Characteristics Consolidation XBRL Data Generation Opening Movement Closing Collect data Apply Taxonomy - Map Send report Supplemental Data XBRL report
    23. 23. Consuming XBRL for comparability, analysis and benchmarking – Step 2 <ul><li>Secure receive </li></ul><ul><li>XBRL/XML validation </li></ul><ul><li>Cartesis Magnitude and Multiple DB’s </li></ul><ul><li>Localized mapping </li></ul><ul><li>Authorization </li></ul><ul><li>Direct update </li></ul>Consume Cartesis Magnitude Data Warehouses RDMS XML DB Integrator IASC Taxonomy World Wide Web XBRL
    24. 24. Cartesis Magnitude product enhancements for embedded XBRL capabilities and settings <ul><li>Will be based on what we learn in steps 1 and 2 </li></ul><ul><li>Plans include </li></ul><ul><ul><li>Administrative capabilities to configure XBRL for publication and consumption </li></ul></ul><ul><ul><li>Setup and Manage via XBRL </li></ul></ul>
    25. 25. Aggressively delivering against the strategy to empower our clients with XBRL <ul><li>Clear strategy and roadmap for delivery </li></ul><ul><li>Engaged with clients and recruiting pilot references </li></ul><ul><li>Still recruiting clients </li></ul><ul><li>Will guide them to referencability in Q2 2005 </li></ul>
    26. 26. Thank you and… <ul><li>Any questions? </li></ul><ul><li>Trevor Walker </li></ul><ul><li>Cartesis </li></ul><ul><li>[email_address] </li></ul>

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