1. Financial suite®
on SharePoint

2. In the world of Finance:
Everything seems to
move faster

3. Are you fast enough?
When do you report to the
board?
a. In 5 days
b. In 10 days
c. In 15 days or later

4. Are you ready?
Is it time for FAST
CLOSE?

5. Defintion
FAST CLOSE is:
delivering financial
reports in 5 days or less
to your stakeholders

6. WIIFM?
FAST CLOSE:
delivering faster
information at a better
quality and lower cost

7. WIIFM?
FAST CLOSE
is a result of a
structured closing
process

8. WIIFM?
FAST CLOSE
Brings you an answer to
the question: How to
release the locked up
resources in Finance?

9. In the world of Finance:
Is FAST CLOSE possible
with the landscape in
next slide?

10. Finance Landscape
in Logo’s - as in
many companies
Monthly - Quarterly
reporting:
Accountability
Accountability
Your Finance Processes
Business Intelligence -
Dashboards
Transactions

11. Let’s check it
Why do we still use
Excel and Shared
folders for our key
finance processes?

12. A. Because it is comfortable
B. Because we think that
we work structured if we
have this toolset:
ERP, Consolidation,
dashboards, file shares,
folders, Excel sheets and
SharePoint
Our perception

13. Our perception
You can always do
better, can’t you?
That is what we tell
the other managers…..

14. Show me
Yes, as Finance we can improve
too

15. Why? Our best kept secret:
We have no systems in place for
Document management.
We use
• File shares
• Shared folders
Track and trace process.
We use
• Excel task lists
• Or best case
• Single dimension list in
SharePoint

16. Do we need to or can
we replace Excel and
File shares?

17. Let’s check if there is a need for systems for
documents and tasks? Questions…..
Do we need to track
and trace progress
during closing?
Is there a better way
to find our files? Can
you find a document
from 2 years ago?
Are the reporting
procedures
documented?
Are the reporting
procedures
transparent?
Is risk management
included?
How many emails
are necessary in your
process?

18. The answers….
How do you track and trace
progress during closing?
= Excel is a single dimension
tool
Can you find older
documents easily?
= No, you look for them the
way you are organized today
-File shares – shared
directories
Are the reporting procedures
documented?
= NO
Are the reporting procedures
transparent?
= Not all
Is risk management
included?
= NO
How many emails are
necessary in your process?
= Many

19. There is a gap between your opportunities
(tomorrow)and what you do (today)

20. The missing piece of
the Finance puzzle.
What is Financial Suite®?

21. What is Financial Suite®?
A set of unique document
and process management
tools, that structures all
finance processes and
manages all documents

22. Replace some logo’s

23. Finance Landscape
in Logo’s
Fast Close enabled
with
Monthly - Quarterly
reporting:
Accountability
Your Finance Processes
with Fast Close
Manager®.
Business Intelligence -
Dashboards
Daily Transactions

24. Standard options in Fast Close Manager®
Uniform processes
for comparable
companies
Structure for
document and
process control
Document management
with metadata, version
control, copy and move
options

25. Standard options in Fast Close Manager®
Generic tasks for all
finance processes,
covers 80% of your
processes
Financial suite® FinancialClosing software

26. Financial Suite ® fast Close
methodology
Use “Lean” to reduce
the waste
Financial suite® FinancialClosing software

27. Process management library with generic tasks and special features
Task types
• company types
• finance processes
Metadata:
•financial category + standard
control
•role + SOx + risk level
•process type + lead time
Progress monitoring:
• task status
• task by assigned to
• tasks per period
Reporting on process:
• compare multiple periods
• open high risks tasks
• performance
• aggregated reporting on Holding
level

28. Steps from generic to specific task set

29. Steps for re-use of
company task set
Financial suite® FinancialClosing software

30. Standard in Fast Close Manager®
Document management
with process metadata,
version control, copy and
move options
Financial suite® Financial software

31. Standard document management options for Finance
Structured Metadata
termstore
• Balance sheet
• P and L categories,
• IAS
• Document types
Standard find options for
• Reporting
• Forecast
• Budget
• Annual reports
2 versions
- Holding- sub holding – entities
- Shared Service center
Both with aggregated information on
• Company level
• Sub holding
• Holding level
Includes options as
• Copy and move option within
SharePoint
• Document display web parts
• Copy to auditors and stakeholders
• Open and close periods

32. Steps for document
management and
Balance file sets
deployment

33. Is introduction of Fast Close another project?
NO
Why not
• Installation depends on number of
enitities, but is very quick
• Creating a specific task set for
multiple companies takes uo to
several hours if well prepared
• A workshop takes 4 hours

34. Benefits
Efficient, documented,
structured and secure process
Flexible and easy
Reduction of stress levels
Re use of freed up resources
Better quality of output
Lower Auditor (assurance) costs
Results in
FAST CLOSE: faster reporting at
reduced costs!
Every
reporting day
costs 184
hours!

35. Financial Suite ® Fast Close Manager
And now…….
Financial suite® Fast Close Manager software

36. Financial Suite ®
The BUSINESS CASE!
Financial suite® Fast Close Manager

37. Do you know the answer?
How much cost can be allocated to the closing process of 10 companies,
when they close in 15 days?
Any idea?

38. Can you do it?
Now you know, but can you reduce the reporting cycle from 15 to 5 days?
Qty Company type Days Hrs Rate FTE Total annual costs
1 Holding 15 8 30 3 10,800
10 Subs 15 8 30 2 72,000
82,000
Annual
reporting costs
993,600
Every
reporting day
costs 184
hours!

39. The remaining cost when you
close in 5 days
Do you feel the need to release the allocated costs?
Qty Company type Days Hrs Rate FTE Total annual
costs
1 Holding 5 8 30 3 3,600
10 Subs 5 8 30 2 24,000
27,600
Annual
reporting costs
331,200
Every
reporting day
costs 184
hours!

40. Challenge…..
Can you reduce the reporting cycle from 15 to 5 days for10 companies?
Qty Company type Days Hrs Rate FTE Total annual costs
1 Holding 15 8 30 3 10,800
10 Subs 15 8 30 2 72,000
82,000
Annual
reporting costs
993,600
Qty Company type Days Hrs Rate FTE Total annual
costs
1 Holding 5 8 30 3 3,600
10 Subs 5 8 30 2 24,000
27,600
Annual
reporting costs
331,200
Easy calculation Annual Saving
15 days reporting 993,600
5 days reporting 331,200
Released allocated costs 662,400
You have 2 options
Every
reporting day
costs 184
hours!

41. Solutions of the Financial Suite® software family
Fast Close Manager®
Reporting Manager®
Digital Accounting Manager
Contract Manager
Company manager
QA Manager

42. Some of our results
Reduce Annual reporting
cycles with 6 months
• Set up and define specific tasks
for closing, budget, forecasts,
external reports for holdings,
Reduce Monthly
reporting cycles with 6
weeks to 5 days
Set up efficient group
reporting and
consolidation
Reduced stress levels of
finance people

43. References
Listed company , global company 12,000 employees, Europe
Global company presence in 20 countries, 40 subs, Europe
Local company, 11 different businesses, South America
Regional company, 7 countries, ASIA and more…..
http://www.financialsuite.net/screens/clientcases_en

44. Who we are: Knowledge and experience:
>300 Period end closings
•Set up and definition of Generic tasks
•closing, budget, forecasts, external
reports for holdings, production co’s,
sales and services offices etc.
•Incl process management
>120
• forecasts and
•>30 Budgets
15
•Years of group and subs. control
experience of reporting at UK global
companies, 35,000 employees
•that are #1 on fast close for many years
>10 Years
• of SharePoint
experience
>40 years
• Finance and
control experience

45. We will give you the 4 conditions for a successful Fast close
deployment for free
1 Sponsor 2 Business Case 3 Commitment
4 Structure
Contact us for
the other
conditions

46. Financial suite® / FastCloseManager
Fast close, yes or no?
We can help you with your
decision, please visit our
website on the Fast close
topic
Contact
http://www.financialsuite.net
http://www.financialsuite.nl/contact
Or
FastClosemanager ContactUs
Or

47. Connect with André Salomons
Fast Close expert,
Software entrepreneur
Writer, Speaker, Blogger
Contact-me