Recorded at Kscope 21 Hosted by Seema Shah (Alithya) , Nick Boronski (Oracle) , Lee Drivers (State Street)

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Complete the
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2. Wed. Jun 23rd, 2021
Nick Boronski
Lee Divers
Seema Shah
What Did I Miss?
Addressing Non-Traditional Reconciliations in
Account Reconciliation and Data Integration Design
Kscope Kode Challenge Code: ALITHYAARCS21

6. Agenda
• What are non-traditional
reconciliations?
• The State Street story
• Questions & Considerations for
data integration design

7. Speakers
Nick Boronski
Oracle
EPM Solutions Engineer
Lee Divers
State Street
Finance – Global
Accounting Operations
Seema Shah
Alithya
Practice Manager

8. What are “traditional” reconciliations?
• Balance sheet focus
• General Ledger to
Subledger
• Prepaids, Accruals,
Reserves, etc.
• Detailed cash, credit
card, bank, etc.
• Multiple currencies
• Multiple reporting
types (US GAAP, local
GAAP, Statutory, etc.)

9. After solving
one problem we
stop looking…
…and miss the
other “low
hanging” fruit

10. There’s a lot going on!
There can be multiple
types of reconciliations…
…across many
departments and teams…
…with different levels
of understanding on
the tools available to
help.

11. What are “non-traditional” reconciliations?
• Subjective definition
• Often exist outside of
accounting (but not always!)
Within FP&A team:
• Actual v. Budget comparisons
• Period-over-Period variance
analysis
• Pre. v. Post allocated data

12. What are “non-traditional” reconciliations?
• Subjective definition
• Often exist outside of
accounting (but not always!)
Within Tax team:
• Validations related to direct /
indirect tax source systems
• Apportionment validations
• By Entity by Jurisdiction
• Transfer pricing related
• Transparency into the effects
of intercompany activity

13. What are “non-traditional” reconciliations?
• Subjective definition
• Often exist outside of
accounting (but not always!)
Within IT team:
• Operational reconciliations
• System-to-system
comparisons
• Balances
• Transactional
• Ground-to-Cloud historical
data validations

14. Close with Confidence
Comprehensive Financial Close
Financial consolidation
Reconciliations and compliance
Tax provision and reporting
Close process orchestration
Transfer pricing
Intelligent process automation
Narrative reporting and disclosures
Connect all
planning
Close with
confidence
Reinvent
analytics &
reporting
Outperform with
intelligence
Operations
Marketing
Sales
Finance
HR IT
Align enterprise
data

15. Daily Reconciliations
at

16. Information Classification: General
Selecting a
Partner
• Current Reconciliation Tool Unsupported
• A solution that works across the whole company
• Many existing products at State Street (i.e., Frontier, Blackline, Duco, GRS,
etc.)
• Solution that handles varied scenarios / use-cases

17. Information Classification: General
Replacing Frontier with
Oracle EPM Cloud
• Unified platform / licensing
• Increase usage across business teams
• Stronger data integration
• Explore additional non accounting and interface
reconciliations
• Scalable solution / easier acquisitions
• Explore additional account types
• Aligned with long term goals
• Replacement of older/dated reconciliation
systems and manual processes

18. Current State
Frontier
• Matched
Items
• Exceptions
Frontier
Operations Team
• Frontier Reports
Available on Shared
Drive
Various
Internal
and
External
Source
Systems Business
Teams
• Import files
• Verify balances and
transactions
• Run automated matching
rules
• Performing manual
matches
• Generate reports
• Access Frontier
Standardized Reports
via Shared Folders

19. ARCS
Business Teams
Various
Internal
and
External
Source
Systems
• Import files
• Verify balances and
transactions
• Run automated matching
rules
• Performing manual
matches
• View Results
• Submit and Approve
Reconciliations
Future State

20. • System-to-System Reconciliations:
• Balance
• Transaction
• Operational Reconciliations:
• One-Sided General Ledger (GL)
• One-Sided Demand Deposit Accounts
(DDA)
• General Ledger vs Banking System
High-Level Review of Processes

21. System-to-System Reconciliations
• ‘Data movement’ control to ensure ‘source’ system is properly
interfaced with a ‘target’ system
• Sometimes used even if there is no interface
• Reconciliation of balances and transactions

23. Operational Reconciliations
• One-Sided GL: Activity nets with suspense and clearing activity
• Have only system-generated activity (translation adjustment). Activity is
monitored for manual entries
• One-Sided DDA: Activity nets with suspense, clearing, and check clearing
activity
• GL vs. Banking System: Have bank statement support that can be matched
to Oracle GL transactions

25. Key Takeaways from Phase 1
Re-Evaluate Full Process
• Consolidated Data Files
• Adjusted Data Files
• Consolidated Match Types
Robust User Testing
• Dig Into the Details End-to-End
• Non-Finance v Finance
Timeline & Communication
• Global Resources
• Multiple Projects / Initiatives
• New Policy & Process Together

26. Roadmap for
Completed
• Transaction Matching replaced Frontier
• Upgraded from HFM to Consolidation
In Flight
• Reconciliation Compliance to replace
Lotus Notes / Excel template model
• (July 1 Tentative Go-Live)
• Global Oracle ERP Cloud Implementation
Future Projects
• Rollout Task Manager

27. Strategic Questions and
Design Considerations

28. Identify Non-Traditional Reconciliations
Occurring outside of Finance?
Require controls and workflows?
Use offline systems for coordination?
Contact Your Alithya Consultant if you Experience Symptoms
of Non-Traditional Reconciliations
“I know it when I see it.”

29. Re-evaluate (or Create!) Full Process
Compromise between Finance and Non-Finance
Formalizing an Informal / Manual Process
Workflow Differs
Ask for What You Need
Providing Consistency and Reliability
Requires Consistent and Reliable Data

30. Robust User Testing
Finding Skeletons
“Oh yeah I forgot about that…”
Thorough End-to-End Testing
Right Users

31. Flexible Timeline
Prioritize Day 1 Requirements
Other System Changes
Global Resource Coordination
Multiple Project Timelines

32. Questions

33. > Vendor Presentation: Leading Practices in Multi-Pillar Oracle Cloud
Implementations
> How Do I Love Cash Flow? Let Me Count the Ways…(11427)
> What Did I Miss? Addressing Non-Traditional Reconciliations in AR
and Data Integration Design (11513)
> Workforce Plus: Tips and Tricks to Give Workforce an Extra Kick!
(11415)
> Why and How to Implement Operation Transfer Pricing (OTP) with
Oracle EPM Cloud (111111)
> Integrated Business Processes: A Better Way to Align FP&A Forecast
and Management Reporting (11385)
> Viasat Launches to the Cloud with Oracle Enterprise Data
Management (11486)
> ❤️ Matchmaker, Make Me a Match: Can AR Intercompany
Matchmaking Tools Be a Perfect Match for You? (11174)
> How WillScot-Mobile Mini Utilized Enterprise Data Management for
Business Transformation (11489)
> See Why This Government Contractor Loves PCM: Live Session with
General Dynamics (11395)
> How to Allocate Your Close Time More Effectively (11533)
> How to Deploy & Integrate Oracle EPM Cloud Profitability and Cost
Management (PCM) as an Allocations Sub-Ledger (11109)
Don't Miss Our 12 Sessions at Kscope21! Alithya is a platinum sponsor of Kscope21
> Mike Killeen & Zubin Shah, Alithya
6/22/21 | 1:40 - 2:20 PM
> Geordan Drummond, Alithya
6/22/21 | 12:40 - 1:40 PM
> Seema Shah; Nick Boronski, Oracle, & Lee Divers, State Street
6/23/21 | 12:40 - 1:40 PM
> Ryan Ward & Sara Beth Good, Alithya
6/23/21 | 2:20 - 3:20 PM
> Andrew Laferla, Alithya & William Harned, MUFG Union Bank
6/24/21 | 11 AM - 12 PM
> Alecs Mlynarzek & Vatsal Gaonkar, Alithya
6/24/21 | 2:20 - 3:20 PM
> Kevin Black, Alithya & Robert Kursten, Viasat
6/25/21 | 12:40 - 1:40 PM
> Geordan Drummond; Nick Boronski & Tim Gaumont, Oracle
6/28/21 | 4 - 5 PM
> Kevin Black; Matthew Jacobsen, WillScot Mobile Mini
6/29/21 | 4 - 5 PM
> Alecs Mlynarzek, Alithya & Caroline Dill, General Dynamics IT
6/30/21 | 11 AM – 12 PM
> Alecs Mlynarzek & Geordan Drummond, Alithya
6/30/21 | 12:40 - 1:40 PM
> Andrew Laferla, Alithya
6/30/21 | 2:20 - 3:20 PM