When the Office of Finance loses time gathering and reconciling data with the help of spreadsheets, they can’t support fact-based decision making. You can’t be a strategic partner to your business. Maybe it's time to stop relying on IT to build forecasting reports for you and waiting weeks for them. This presentation is for financial managers needing a better self-service tool for budgeting, planning and forecasting and those needing a spark to change current practices that are holding your company back. Maybe it’s time to stop relying on IT to build forecasting reports for you and waiting weeks or even months for them, or it is time to augment or replace antiquated business intelligence tools that don’t deliver the ‘what-if’ and planning scenarios you need. Learn more about our Seven Reasons to Change.

1. 7Reasons why
The Office
should change
their Budgeting
& Forecasting
of Finance
Process
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2. Let‘s start with some alarming figures:
83%
of CFOs and finance leaders say
their organization’s approach to
annual budgeting needs to be
optimized
(Grant Thornton LLP)
89%
of business leaders estimate they use
less than 1/3
of their corporate data for informed
business decisions
(Gleanster)

3. Night shifts for the quarterly forecasts had
become the rule rather than the exception.
(Richard S., Fiat’s Head of Controlling)
Two real-life examples:
Fiat’s central financial controlling relied on legacy reporting and Excel-sheets to report
and plan quarterly forecasts for the European headquarters
Unable to model complex calculation logic
Cumbersome spreadsheet processes
System crashes caused by large Excel files
Challenges:

4. Two real-life examples:
During a merger with Océ, both organizations discovered that their budgeting processes
were completely different
Existing BI & CPM systems neither flexible
nor fast enough
High amount of data and complexity
High pressure on IT to create reports
Challenges:
Very short timeframe and limited budget for
implementing a new, unified CPM solution

5. Does that sound familiar to you?

6. 7 Reasons
to Change
Wouldn't it be easier and faster
if you could just get the data
and run reports yourself in one
source of truth?
Maybe it’s time to stop relying
on IT and to start replacing
antiquated business intelligence
tools…
…here is why:

7. 1. You are relying on obsolete data
“Nothing is older than yesterday‘s data“

8. Budgets & forecasts are often based on a snapshot
in time based on old data – the consequences:
How can you achieve “One-version of the truth“?
Consolidation becomes increasingly
difficult
Excruciating to audit when
discrepancies arise
No comparison of plan and actuals
= Unable to align operations to
strategy
Manual exports of data with high
likelihood of human error

9. Jedox offers a flexible self-service platform
for Finance professionals which…
… automates the data collection
process
… compares planning and forecast
data with actuals
… provides “one version of the truth”
through a central in-memory
database
… gives a true 360° view of the
business

10. 90%
of all organizations still use spreadsheets for their budgeting
& forecasting (BARC)
2. You are still using spreadsheets

11. BUT:
Excel was not designed to be an enterprise forecasting tool
Budgeting with Excel:
Manually collect data from disparate places
Rekey the data
Endless columns and rows
Pass around workbooks for editing and updating
Multiple versions of the budgeting spreadsheet
= Auditing nightmare

12. What Finance leaders think about their spreadsheet solutions…
= with MS Excel = with professional planning software

13. Jedox removes Excel’s drawbacks while retaining its advantages…
… Jedox has a deep integration
with spreadsheets and an Excel-
like user interface
…Jedox adds an enterprise-
ready database, data storage,
web and mobile capabilities
…Jedox allows Finance
professionals to use their Excel
know-how while using a
professional surface

14.  That‘s almost 3 full working days you could spent
with less frustrating tasks
3. You are wasting time
On average, financial
managers waste as much as
18 hours per month
manually updating, revising,
consolidating, modifying and
correcting spreadsheets.
Robert Kugel, Ventana Research

15. …you work with different
versions of the same
reports
…there is a lack of
collaboration between
executives
This is slowing you down...
…your data resides in
disconnected silos (ERP,
financial accounting
system, Salesforce, …)
…collecting data is not
only time-consuming –
but also error-prone

16. Jedox offers a flexible self-service platform
for Finance professional which…
… gives you the ability to drill down
and roll up numbers
… automates data collection
… speeds up reporting processes

17. 4. Your annual budget is not tied to your strategy
PWC, Budgeting and Forecasting study
Nearly 44% see linking budget &
strategy as needing the most
improvement
Only 17% of executives are
“very satisfied” with their
current budgeting process
17%
44%

18. Group Finance has the challenge of consolidating
regional budgets from multiple entities, often from
different ERPs and different chart of accounts
Group
Entity
2
ERP
Chart of
Accounts
Entity
3
ERP
Chart of
Accounts
Entity
4
ERP
Chart of
Accounts
Entity
1
ERP
Chart of
Accounts
Budget not tied to business drivers
Business units strike out of their own
Incoherent planning systems,
standards, detail, frequency…
Challenges of enterprise budgeting processes

19. Jedox ties operational and strategic planning closer together…
… provides a rolling forecast,
integrated with strategy
development
… is more timely, relevant,
and efficient

20. 5. You are working with a disparate data warehouse
Fewer than 30% of data
warehouses and business
intelligence projects meet the
objectives of the business.
Gartner research

21. In reality, data warehouses often don‘t simplify data access
Costly IT constructed data warehouses take months or years to build
+ can cost upwards of $2 million
Low adoption from business user – IT tools don’t fit their needs

22. Jedox embeds planning with the existing IT landscape…
… no need of data warehouses as a
central repository
… includes analytic processes and is
easy to use
… saves time and money

23. 6. You rely on IT Assistance
The costs to build a single
report, fully loaded, are
estimated at $20,000.
Forrester
 Imagine 20 subsidiaries, needing 20 different reports
every quarter

24.  Consequence: Budgeting
has a bad reputation
Financial managers still rely on IT to
produce reports
OLAP technology to slide & dice data
is falsely attributed to IT or data
scientists
Business users add formulas and
macros to their Excel spreadsheets,
instead of using sophisticated OLAP
technology

25. Jedox offers a flexible self-service platform
for Finance professionals that…
allows you to slice and dice
data independent from IT
helps you to drill down using a
familiar interface, that doesn't
require OLAP or coding skills
has built in reports and also
allows building your own
reports easily

26. 7. Your budgeting data resides on your machine only
Instead, spreadsheets
are passed along
through email
Budgeting and
forecasting tools are tied
to legacy systems that
are not connected to
foreign subsidiaries
Mobile access to reports
or adding plan data on
the go is impossible

27. Modern web-based systems simplify
planning processes of global organization → Example: FIAT
Central Managers
enter plan data
through the Web
Financial
Controlling
FIAT Dealership
Quarterly forecast
for HQ Management
FIAT HQ
Turin

28. Jedox is a Web-based budgeting solution that…
… gives you 24-hour access to
budgets, forecasts & updates foreign
subsidiaries send overnight
… allows you to run your software on-
premises, in the cloud or in a hybrid
application
… provides flexible options should
your business decisions change

29. Better Budgets, Forecasting, & Decision Making with Jedox
543216546465$
5985 68 $8654565
65656845621
789$6546554$78
6965656532
6
Finally leverage the data hiding within your
divisional silos
Derive insights that lead to a strategic plan
with viable forecasts
Create an accurate roadmap that delivers solid
growth and a competitive edge

30. Fiat & Canon are
reaping the
results
• Fiat implemented an integrated
Jedox solution for reporting,
analysis, and planning for 15
dealerships
• 60 users across the Office of
Finance, subsidiaries, and
management
• Users can enter their plan data
via a Web interface
• Fiat benefits from enterprise
planning and reporting from one
source of truth

31. Richard S., Head of Controlling at Fiat FCA
Motor Village Germany
The efficiency increase in planning alone
is very impressive!
Our daily work has been made significantly
easier and I see great further potential for
our company with Jedox.

32. Fiat & Canon are
reaping the
results
• Canon built a web-based
Jedox application for 15
countries within the EMEA
area
• It allows divisions to submit
and allocate costs, margins,
expenses to products and
product groups & create
reports
• It only took 3 weeks

33. Frank Brouwer, Project Director at Canon Europe
We had to achieve our goals within very
short timeframe and a limited budget. It’s
great to see how everything came together
and I surely recommend financials to
include Jedox in their selection process.

34. Isn't it time you joined them?

35. Want to discover how Jedox
simplifies budgeting & forecasting?
Register for our free webinars for FP&As,
CFOs and other Finance professionals:
http://www.jedox.com/en/webinars
• Europe: March 30th – 11 AM CET
• Australia: March 30th – 2 PM AEDT
• North America: March 31st – 2 PM EDT
• New Zealand: March 31st – 2 PM NZDT
• Asia: April 6th – 3 PM SGT
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