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Financial suite®
on SharePoint
In the world of Finance:
Everything seems to
move faster
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
Are you ready?
Is it time for FAST
CLOSE?
Defintion
FAST CLOSE is:
delivering financial
reports in 5 days or less
to your stakeholders
WIIFM?
FAST CLOSE:
delivering faster
information at a better
quality and lower cost
WIIFM?
FAST CLOSE
is a result of a
structured closing
process
WIIFM?
FAST CLOSE
Brings you an answer to
the question: How to
release the locked up
resources in Finance?
In the world of Finance:
Is FAST CLOSE possible
with the landscape in
next slide?
Finance Landscape
in Logo’s - as in
many companies
Monthly - Quarterly
reporting:
Accountability
Accountability
Your Finan...
Let’s check it
Why do we still use
Excel and Shared
folders for our key
finance processes?
A. Because it is comfortable
B. Because we think that
we work structured if we
have this toolset:
ERP, Consolidation,
dash...
Our perception
You can always do
better, can’t you?
That is what we tell
the other managers…..
Show me
Yes, as Finance we can improve
too
Why? Our best kept secret:
We have no systems in place for
Document management.
We use
• File shares
• Shared folders
Trac...
Do we need to or can
we replace Excel and
File shares?
Let’s check if there is a need for systems for
documents and tasks? Questions…..
Do we need to track
and trace progress
du...
The answers….
How do you track and trace
progress during closing?
= Excel is a single dimension
tool
Can you find older
do...
There is a gap between your opportunities
(tomorrow)and what you do (today)
The missing piece of
the Finance puzzle.
What is Financial Suite®?
What is Financial Suite®?
A set of unique document
and process management
tools, that structures all
finance processes and...
Replace some logo’s
Finance Landscape
in Logo’s
Fast Close enabled
with
Monthly - Quarterly
reporting:
Accountability
Your Finance Processes
w...
Standard options in Fast Close Manager®
Uniform processes
for comparable
companies
Structure for
document and
process cont...
Standard options in Fast Close Manager®
Generic tasks for all
finance processes,
covers 80% of your
processes
Financial su...
Financial Suite ® fast Close
methodology
Use “Lean” to reduce
the waste
Financial suite® FinancialClosing software
Process management library with generic tasks and special features
Task types
• company types
• finance processes
Metadata...
Steps from generic to specific task set
Steps for re-use of
company task set
Financial suite® FinancialClosing software
Standard in Fast Close Manager®
Document management
with process metadata,
version control, copy and
move options
Financia...
Standard document management options for Finance
Structured Metadata
termstore
• Balance sheet
• P and L categories,
• IAS...
Steps for document
management and
Balance file sets
deployment
Is introduction of Fast Close another project?
NO
Why not
• Installation depends on number of
enitities, but is very quick...
Benefits
Efficient, documented,
structured and secure process
Flexible and easy
Reduction of stress levels
Re use of freed...
Financial Suite ® Fast Close Manager
And now…….
Financial suite® Fast Close Manager software
Financial Suite ®
The BUSINESS CASE!
Financial suite® Fast Close Manager
Do you know the answer?
How much cost can be allocated to the closing process of 10 companies,
when they close in 15 days?...
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 ...
The remaining cost when you
close in 5 days
Do you feel the need to release the allocated costs?
Qty Company type Days Hrs...
Challenge…..
Can you reduce the reporting cycle from 15 to 5 days for10 companies?
Qty Company type Days Hrs Rate FTE Tota...
Solutions of the Financial Suite® software family
Fast Close Manager®
Reporting Manager®
Digital Accounting Manager
Contra...
Some of our results
Reduce Annual reporting
cycles with 6 months
• Set up and define specific tasks
for closing, budget, f...
References
Listed company , global company 12,000 employees, Europe
Global company presence in 20 countries, 40 subs, Euro...
Who we are: Knowledge and experience:
>300 Period end closings
•Set up and definition of Generic tasks
•closing, budget, f...
We will give you the 4 conditions for a successful Fast close
deployment for free
1 Sponsor 2 Business Case 3 Commitment
4...
Financial suite® / FastCloseManager
Fast close, yes or no?
We can help you with your
decision, please visit our
website on...
Connect with André Salomons
Fast Close expert,
Software entrepreneur
Writer, Speaker, Blogger
Contact-me
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Fast Close = Financial statements in 5 days. Better, faster, less costs. On Office365 by Financial Suite® helps to deliver financial statements in 5 days and saves > 20.000 hours per year! Contact: http://www.fastclosemanager.com/company/contact/?lang=en

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Fast Close is reporting the results to all stakeholders in 5 days or less after period end close. learn more form this slide deck and video. Time for decisions has shortened. That is one of the reasons of reporting faster!! Closing faster is closing with less costs!

With over 7.000 views we found it time to upgrade the presentation!
Contact us at
http://www.fastclosemanager.com/company/contact/?lang=en

and see how we can help you to deploy fast close in your Organization

Fast Close Manager as monitoring tool with SharePoint online as the engine helps each organization to accelerate all closing processes, budget, forecasts, external reporting etc. and it frees up thousands of hours and helps releasing allocated costs per year.

Try it 30 days for free on Office365!

Published in: Business, Economy & Finance

Fast Close = Financial statements in 5 days. Better, faster, less costs. On Office365 by Financial Suite® helps to deliver financial statements in 5 days and saves > 20.000 hours per year! Contact: http://www.fastclosemanager.com/company/contact/?lang=en

  1. 1. Financial suite® on SharePoint
  2. 2. In the world of Finance: Everything seems to move faster
  3. 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. 4. Are you ready? Is it time for FAST CLOSE?
  5. 5. Defintion FAST CLOSE is: delivering financial reports in 5 days or less to your stakeholders
  6. 6. WIIFM? FAST CLOSE: delivering faster information at a better quality and lower cost
  7. 7. WIIFM? FAST CLOSE is a result of a structured closing process
  8. 8. WIIFM? FAST CLOSE Brings you an answer to the question: How to release the locked up resources in Finance?
  9. 9. In the world of Finance: Is FAST CLOSE possible with the landscape in next slide?
  10. 10. Finance Landscape in Logo’s - as in many companies Monthly - Quarterly reporting: Accountability Accountability Your Finance Processes Business Intelligence - Dashboards Transactions
  11. 11. Let’s check it Why do we still use Excel and Shared folders for our key finance processes?
  12. 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. 13. Our perception You can always do better, can’t you? That is what we tell the other managers…..
  14. 14. Show me Yes, as Finance we can improve too
  15. 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. 16. Do we need to or can we replace Excel and File shares?
  17. 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. 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. 19. There is a gap between your opportunities (tomorrow)and what you do (today)
  20. 20. The missing piece of the Finance puzzle. What is Financial Suite®?
  21. 21. What is Financial Suite®? A set of unique document and process management tools, that structures all finance processes and manages all documents
  22. 22. Replace some logo’s
  23. 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. 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. 25. Standard options in Fast Close Manager® Generic tasks for all finance processes, covers 80% of your processes Financial suite® FinancialClosing software
  26. 26. Financial Suite ® fast Close methodology Use “Lean” to reduce the waste Financial suite® FinancialClosing software
  27. 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. 28. Steps from generic to specific task set
  29. 29. Steps for re-use of company task set Financial suite® FinancialClosing software
  30. 30. Standard in Fast Close Manager® Document management with process metadata, version control, copy and move options Financial suite® Financial software
  31. 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. 32. Steps for document management and Balance file sets deployment
  33. 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. 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. 35. Financial Suite ® Fast Close Manager And now……. Financial suite® Fast Close Manager software
  36. 36. Financial Suite ® The BUSINESS CASE! Financial suite® Fast Close Manager
  37. 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. 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. 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. 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. 41. Solutions of the Financial Suite® software family Fast Close Manager® Reporting Manager® Digital Accounting Manager Contract Manager Company manager QA Manager
  42. 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. 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. 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. 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. 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. 47. Connect with André Salomons Fast Close expert, Software entrepreneur Writer, Speaker, Blogger Contact-me

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