Finit solutions getting the most out of epm - financial close and disclosure management

The Finit Solutions Series
Getting the Most out of EPM:
Introduction to Financial Close
Management and Disclosure
ManagementManagement
May 12 2010May 12, 2010
Presented by Rob Cybulski
www.finitsolutions.com

The Finit Solutions Series
About Finit Solutions

Th Fi it S l ti S i
Introduction to Financial Close Management and Disclosure Management
Finit Introduction The Finit Solutions Series
Finit Solutions specializes in consulting services in the Oracle Hyperion Enterprise
Performance Management Solutions suite of products:
Financial Consolidation
– Financial Management (HFM)
Hyperion Enterprise
Planning and Business Intelligence
– Planning
Essbase– Hyperion Enterprise
– Financial Close Management
– Disclosure Management
– Essbase
BI+ Reporting Tools
Financial Reporting
Integration
– Financial Data Quality Management
(FDM)
– Financial Reporting
– Smartview
– Web Analysis
Essbase Excel Add in( )
– Oracle Data Integrator (ODI)
– Data Integration Management (DIM)
– Other (EPMA, ERPi, etc)
– Essbase Excel Add‐in
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Other (EPMA, ERPi, etc)

Th Fi it S l ti S i
Finit’s Consolidation Experience The Finit Solutions Series
•Finit has helped companies use Hyperion consolidation tools for
performing the financial close activities since inception (2002).
p
p g p ( )
•More recently, Finit has helped companies complete the ‘last mile of
the close’ by completing their external reporting disclosures and then
creating XBRL instance documents.
•Finit has one of the largest practices of HFM certified consultants on
staff in the country. We have experience back to the early versions of
HFM and have assisted clients with all aspects of HFM deployments
from full lifecycle implementations to application optimization /
redesign activities.
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g

Th Fi it S l ti S i
Finit’s Client Service The Finit Solutions Series
W t k li t i i l
Finit s Client Service
We take client service very seriously.
Our client service approach has led to 100%
customer satisfaction for every Finit client f y
(119 and counting).
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Th Fi it S l ti S i
HFM and FDM: Upgrading to the Fusion Edition
Some Finit Clients The Finit Solutions Series
•
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Th Fi it S l ti S i
About the Presenter The Finit Solutions Series
Rob Cybulski
About the Presenter
(rcybulski@finitsolutions.com)
• Co‐Founder of Finit Solutions
• More than 10 years of experience• More than 10 years of experience
implementing Hyperion products
• Frequent presenter at Hyperion
fconferences
• Serves as the Hyperion Enterprise
and HFM Domain Lead for
h O l H i S i lthe Oracle Hyperion Special
Interest Group
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Th Fi it S l ti S i
How to Ask a Question The Finit Solutions Series
Q
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Th Fi it S l ti S i
Agenda The Finit Solutions Series
• Overview of Release 11.1.2
g
• Introduce Financial Close Management
P id i f Fi i l Cl M t• Provide an overview of Financial Close Management
functionality
• Introduce Disclosure Management
P id i f Di l M t• Provide an overview of Disclosure Management
functionality
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Finit Solutions Series
11.1.2 Release Overview

Th Fi it S l ti S i
Fusion Edition, Release 11.1.2 The Finit Solutions Series
• Oracle EPM Fusion Edition 11.1.2 was released in April 2010 and
represents a major EPM release.
,
• Version 11.1.2 provided existing product enhancements and new
functionality.
One example is the introduction of Smart View ‘Smart slices’ for HFM– One example is the introduction of Smart View Smart slices for HFM.
• Version 11.1.2 also introduced new modules to the Oracle EPM
Suite:
– Financial Close Management – Task management & status across Oracle
EPM products
– Disclosure Management – External Reporting including XBRLg p g g
– Public Sector Budgeting – Planning module for public sector and education
organizations
– Oracle Analytics Link – Integration between HFM & Essbase / relational
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Oracle Analytics Link Integration between HFM & Essbase / relational
databases

Introduction and Overview of
Financial Close ManagementFinancial Close Management

Th Fi it S l ti S i
Current Financial Close Status The Finit Solutions Series
• The Financial Close activities for a company involve many different
processes and tasks each month that are performed by different
end users throughout an organization.
• In addition to performing many different activities, users interact
with various software tools to perform the complete closewith various software tools to perform the complete close
activities. This can include:
– General Ledger systems – Oracle E‐Business Suite, SAP, JDE, PeopleSoft
– Data Integration – Hyperion FDM, DIM, ODI
– Financial Consolidation – HFM, Hyperion Enterprise
– Reporting – Smart View, Financial Reporting, XBRL tagging toolsp g p g gg g
• In the current state, each product runs relatively independently
from the others. This leads to each product having its own overall
task management / status capabilities
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task management / status capabilities.

Th Fi it S l ti S i
Financial Close Cycle Activities The Finit Solutions Series
y
• Activities: Booking of all transactions, review of
balances and sub‐ledgers to finalize monthly
balances
General Ledger Close
Activities balances.Activities
• Activities: Data Loading and Mapping to
Consolidation Tool.  End user / IT driven to populate
General Ledger balances into Consolidation tool
Oracle EPM Data
Integration General Ledger balances into Consolidation tool.Integration
• Activities: Aggregation, Consolidation and
Translation of financial information. Key business rule
calculations / validations Consolidation adjustments
calculations / validations. Consolidation adjustments.
• Activities: Review and analysis of Consolidated /
‘Local’ financial data.  Used to support internal
management decision making
Internal Management
Reporting management decision making.Reporting
• Activities: Quarterly Collection and finalization of
external disclosures / 10K & 10Q.  Creation of the
XBRL Instance Doc ‘Last Mile of Close’
External Reporting
(Quarterly)
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XBRL Instance Doc.   Last Mile of Close .(Quarterly)

Th Fi it S l ti S i
Financial Close Cycle with Oracle EPM The Finit Solutions Series
y
• Software: Oracle EBS, PeopleSoft, SAP, etc
• Activities: Booking, review and closing of all
t ti
Activities transactionsActivities
• Software: Primarily FDM, DIM, ODI
C lid ti T l
Oracle EPM Data
Integration Consolidation ToolIntegration
• Software: HFM, Hyperion Enterprise
• Activities: Consolidation, Translation, Calculations,
C lid ti Adj t t I t M t hi
Consolidation Adjustments, Interco Matching
• Software: Smart View, Financial Reporting, Other
• Activities: Consolidated / ‘Local’ reporting and
l i t t i t l t d i i
Internal Management
Reporting analysis to support internal management decisionsReporting
• Software: Disclosure Mgmt, Excel + XBRL Tool
• Activities: Collection / Finalization of external
di l / 10K & 10Q XBRL I t D
External Reporting
(Quarterly)
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disclosures / 10K & 10Q, XBRL Instance Doc(Quarterly)

Th Fi it S l ti S i
Hyperion FDM Status Visibility The Finit Solutions Series
yp y
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Th Fi it S l ti S i
HFM Status Visibility The Finit Solutions Series
y
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Th Fi it S l ti S i
Current Financial Close Struggles The Finit Solutions Series
• While each product does a good job reporting status and task results
individually, there is a lack of overall status reporting between the
d t A lt it i h d t th ti l
gg
products.  As a result, it is hard to manage the entire close.
• Since activities and the close process are closely linked together in many
cases, activities have clear dependencies.  Some examples include:
– General Ledger account balances cannot be loaded through Hyperion FDM
until the General Ledger is closed.
– Intercompany Matching cannot begin until sites have loaded and p y g g
consolidated their results.
– Internal Management analysis of consolidated balances cannot begin until
all Corporate consolidation journals have been posted.  Consolidation p j p
Journals cannot be posted until all base entity data has been loaded,
reviewed and promoted.
• Prior to release 11.1.2, these activities had to be managed manually
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Prior to release 11.1.2, these activities had to be managed manually
through Excel / Email or looked at individually in Oracle products.

Th Fi it S l ti S i
Financial Close Management The Finit Solutions Series
• Oracle created a new module, Financial Close Management to help
organizations manage and look at the entire close process. This
g
includes looking across software products and managing the
different tasks and processes that various users perform.
• The purpose of Financial Close Management is to be able to
streamline and better manage the financial close activities across
different systems. It was designed to integrate across software
products and to provide an overall picture to the financial close
status.status.
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Th Fi it S l ti S i
Financial Close Management The Finit Solutions Series
g
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Th Fi it S l ti S i
Financial Close Management Features The Finit Solutions Series
• Overall Financial Close Process Task Status (across products)
• Task Activity views in different formats:
g
y
– Calendar View
– Task List Views
A t ti d N tifi ti• Automation and Notification
– Workflow automation for certain tasks
– Email Notification when tasks complete
• Process Monitoring
• Overall Status Reporting
• Account Reconciliations
– Functionality to assist with General Ledger Account Reconciliations / Balance
Sheet fluctuation analysis
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Th Fi it S l ti S i
Financial Close Management Task Status The Finit Solutions Series
• Tasks can be integrated with Oracle E‐Business Suite and Oracle
EPM items.
– Current release includes EPM product task integration with HFM, FDM and
Financial Reporting.
– Future releases will included expanded task integration in those products
and additional integration with Planning, Essbase, DRM and Disclosure
Management.
• Financial Close Management Activity Tasks can be stored andFinancial Close Management Activity Tasks can be stored and
tracked by different attributes:
– By Task Type – Groupings of similar tasks
B O / R ibilit– By Owner / Responsibility
– By Approver
– By Priority Levels
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Th Fi it S l ti S i
Task Details The Finit Solutions Series
• Tasks allow for sufficient
detail including:
– Instructions
– Links to documents /
supporting information.
– Questions specific to the task
for sign‐off and completion.
– CommentsComments
– Workflow that consists of a
series of review and approval
by individuals of certainby individuals of certain
tasks.
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Th Fi it S l ti S i
Task Views The Finit Solutions Series
• Tasks can be viewed in
different views:
– Calendar View
– Tasklist View
– Gantt ViewGantt View
• The Task view can be
customized by each user in
‘M W kli ’‘My Worklist’.
• Task views can be filtered
by task type, user,by task type, user,
approver, status, etc.
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Th Fi it S l ti S i
Automation and Notification The Finit Solutions Series
• One key design element to
Financial Close Management is
approval workflow Each taskapproval workflow. Each task
can have a workflow set up.
• The workflow facilitates
notification as approvers /notification as approvers /
reviewers can receive email
notification when a task
completes.completes.
• Automation within EPM
products also exists for the
automation of certain tasks.automation of certain tasks.
Examples can include having
tasks similar to HFM Task Flows
(run multiple consolidations).
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Th Fi it S l ti S i
Monitoring and Reporting The Finit Solutions Series
• Overall monitoring of tasks
can be viewed in the
g p g
Dashboard View.
• Users can view the
schedules and tasks thatschedules and tasks that
they have access to.
• The dashboard view can be
customized with different
‘portlets’. Portlets include
Task Schedules, StatusTask Schedules, Status
Charts and Status
Overviews.
l f
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• Filtering exists for views.

Th Fi it S l ti S i
Account Reconciliations The Finit Solutions Series
• In the next release of Financial Close Management, it will contain
features and functionality to assist with Account Reconciliations.
• The Account Reconciliation functionality can help organizations
with two types of reconciliation activities:
General Ledger Account Reconciliation review explanation and approval– General Ledger Account Reconciliation – review, explanation and approval
of General Ledger Account activity.
– HFM Chart of Account level Balance Sheet Fluctuations – review,
explanation and approval of balance sheet movements at the HFM Chart ofexplanation and approval of balance sheet movements at the HFM Chart of
Accounts level.
• The Account Reconciliation feature will have reviewer / approver
kfl ll f l d ffworkflow to allow for complete review and sign‐off.
• Supporting detail and schedules will be able to be attached to
explanations.
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explanations.

Financial Close Management
User Workflow ExampleUser Workflow Example

Th Fi it S l ti S i
User Example – Receive Notification The Finit Solutions Series
p
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Th Fi it S l ti S i
User Example – Review Task Details The Finit Solutions Series
p
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Th Fi it S l ti S i
User Example – Task Action The Finit Solutions Series
p
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Th Fi it S l ti S i
User Example – Task Details The Finit Solutions Series
p
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Th Fi it S l ti S i
User Example – Review Calendar The Finit Solutions Series
p
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Th Fi it S l ti S i
User Example – Monitor Dashboard The Finit Solutions Series
p
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Introduction and Overview of
Disclosure ManagementDisclosure Management

Th Fi it S l ti S i
Financial Close Cycle with Oracle EPM The Finit Solutions Series
y
t ti
C lid ti T l
Oracle EPM Data
Internal Management
Reporting analysis to support internal management decisionsReporting
External Reporting
(Quarterly)
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disclosures / 10K & 10Q, XBRL Instance Doc(Quarterly)

Th Fi it S l ti S i
‘Last Mile of Close’ Reporting Focus The Finit Solutions Series
p g
t ti
C lid ti T l
Oracle EPM Data
Internal Management
ReportingPotential
analysis to support internal management decisionsReporting
External Reporting
(Quarterly)
Primary
Focus
Focus
‐ 37 ‐
disclosures / 10K & 10Q, XBRL Instance Doc(Quarterly) Focus

Th Fi it S l ti S i
‘Last Mile of the Close’ Activities The Finit Solutions Series
• The last mile of the close involves the activities and processes to
produce the external disclosures such as the 10K and 10Q.
• The last mile of the close is often difficult and manually intensive• The last mile of the close is often difficult and manually intensive
for companies for the following reasons:
– The data can be very ‘unique’ from disclosure to disclosure, and some of
this information may not be captured or easily reported from source y p y p
systems (i.e. Fair Value Measurement of investments, Stock‐Based
compensation):
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Th Fi it S l ti S i
‘Last Mile of the Close’ Cont. The Finit Solutions Series
• The disclosures in external documents contain a large amount of
commentary and information other than amount balances (e.g.
expected option life dividend yield etc )expected option life, dividend yield, etc.)
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Th Fi it S l ti S i
‘Last Mile of the Close’ Cont. The Finit Solutions Series
• Many disclosures contain repetitive account balances that may be
broken out into more detail. All balances must equal on the
different disclosuresdifferent disclosures.
‐ 40 ‐

Th Fi it S l ti S i
‘Last Mile of the Close’ + XBRL The Finit Solutions Series
• Until recently, organizations went through the last mile of the
close steps internally and then proceeded to go through a process
to EDGAR‐ize their external documents For some companies thisto EDGAR ize their external documents.  For some companies this
involved a process between their printer / publisher to submit the
external document, publish in EDGAR format, review the
document, re‐submit changes, etc.
• As of the fall of 2008, the SEC set a new schedule for companies
related to filing their statements in XBRL format.  Most companies g p
are currently submitting their financial information in XBRL format
now.
• XBRL adds a layer of ‘tagging’ the external disclosures  with a
taxonomy.  This includes the financial statement amounts, block
text and the amounts in the commentary in future periods.
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Th Fi it S l ti S i
Disclosure Management The Finit Solutions Series
• Oracle created a new module, Disclosure Management to help
organizations manage the creation of critical reporting packages
g
(10Q / 10K, Management reporting packages, Board reporting
packages, etc.).
• Disclosure Management was built to help reduce the manual and• Disclosure Management was built to help reduce the manual and
disconnected processes that mostly exist in the ‘Last Mile of the
Close’ and with the creation of key reporting packages.
• Disclosure Management was designed to help companies output
the packages into many different formats to satisfy the
requirements of the end users:requirements of the end users:
– External Reporting: XBRL, EDGAR, Word
– Internal Reporting: PDF, Word, HTML
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Th Fi it S l ti S i
Document Creation Features The Finit Solutions Series
• Disclosure Management can combine multiple files into a master
document.
• Sections of a master document can be broken down into ‘doclets’.
An example would be for the 10Q having a doclet for the Tax
Provision disclosure a separate doclet for the Cash FlowProvision disclosure, a separate doclet for the Cash Flow
statement, etc.
• Each doclet can have the following:
– Multiple files within it.  Example would be a Word document that contains
the main commentary for the disclosure along with an Excel spreadsheet
that contains the ‘report’ values.  The multiple files can be merged into a
cohesive document.
– Each doclet can have a workflow of reviewers / approvers.  This means that
the Tax Provision doclet could have its own approval process of tax
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personnel reviewing and finalizing the data.

Th Fi it S l ti S i
Report / Data Options The Finit Solutions Series
• Users have many options related to how to bring in the financial
data into a doclet and complete document. The following options
p / p
exist for users of Disclosure Management:
– Using Microsoft Word and importing Financial Reporting reports into it.
• Financial Reporting reports can be imported into a Word Table layout to allow for XBRL
tagging.
– Using Microsoft Word for commentary and overview information.
– Using Microsoft Word with Smart View links to HFM / Planning / Essbase to
retrieve financial data.
– Using Microsoft Excel sheets that have Smart View formulas to retrieve the
financial data out of HFM / Planning / Essbase.
– Using Microsoft Excel schedules that are not linked to Smart View.
• All of these different elements can be customized per doclet and
organized in the right order to be combined correctly
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organized in the right order to be combined correctly.

Th Fi it S l ti S i
Doclets The Finit Solutions Series
‐ 45 ‐

Th Fi it S l ti S i
Notification / Status The Finit Solutions Series
• The workflow functionality, which defines the chain of reviewers /
approvers per doclet, facilitates the notification functionality.
/
Users can be notified via email when the tasks they are linked to
have had activity (submitted, rejected, etc).
• Overall the status of the creation of the entire document can be• Overall, the status of the creation of the entire document can be
reviewed and analyzed.  This allows the group managing the
creation of the document to see where in the process each major
d l i i Th l l id ldoclet, or section is at.  The approval process also provides a layer
of integrity as once it has been submitted by a user they cannot
change it unless it has been rejected.
• Documents can be archived to store the values and commentary at
a point in time.  Archives can also be compared to each other to
understand changes and modifications
‐ 46 ‐
understand changes and modifications.

Th Fi it S l ti S i
XBRL Functionality The Finit Solutions Series
• Disclosure Management provides a complete XBRL solution. It can
handle many different aspects related to XBRL.
y
• Oracle has partnered with UBMatrix to provide some of the
functionality and components related to the XBRL functionality.
XBRL T M t• XBRL Taxonomy Management
– Companies can maintain their XBRL taxonomies.
• Multiple XBRL Tagging optionsp gg g p
– Report Level tagging – XBRL tags can be applied to at the report level.
Report level tagging means it is applied in Word or Excel where the line item
is identified with the appropriate XBRL tag.pp p g
– EPM Application Metadata tagging – HFM, Planning and Essbase metadata
labels can be tagged with the appropriate XBRL tag as a metadata attribute.
This then applies to all reports where the account exists.
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pp p
• Creation and validation of the XBRL Instance Document

Th Fi it S l ti S i
XBRL Instance Doc Workflow The Finit Solutions Series
• Disclosure Management was designed to support the full XBRL
Instance Document workflow (including validation).
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Th Fi it S l ti S i
Document Output Options The Finit Solutions Series
• Disclosure Management can support output to various regulatory
authorities:
p p
– USGAAP – SEC
– IFRS – European Exchanges, SEC
• The master combined document can be output into a variety of• The master combined document can be output into a variety of
formats:
– XBRL
– EDGAR
– Microsoft Word
– PDF
– HTML and XHTML
‐ 49 ‐

Disclosure Management
User Workflow ExampleUser Workflow Example

Th Fi it S l ti S i
User Example – New Office Toolbar The Finit Solutions Series
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Th Fi it S l ti S i
User Example – Multiple Taxonomies The Finit Solutions Series
p p
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Th Fi it S l ti S i
User Example – Report Level Tagging The Finit Solutions Series
p p gg g
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Th Fi it S l ti S i
User Example – Footnote Creation The Finit Solutions Series
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‐ 54 ‐

Th Fi it S l ti S i
User Example – Footnote Presentation The Finit Solutions Series
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Th Fi it S l ti S i
User Example – Integration with FCM The Finit Solutions Series
p g
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Contact and Future Webinars

Th Fi it S l ti S i
Upcoming Webinars The Finit Solutions Series
Getting the Most out of EPM:
p g
New Features and Functionality in Fusion Edition 11.1.2
On June 16, you will learn about the new features and functionality in EPM
Fusion Edition 11.1.2 for HFM, Planning, Essbase, FDM, Smart View, and
Fi i l R ti T i ill i l d l i f th 11 1 2Financial Reporting. Topics will include a general overview of the 11.1.2
enhancements as well as specific discussion of new modules in 11.1.2, including
Oracle Analytics Link, Public Sector Planning, Financial Close Management, and
Disclosure Management.
To register, go to www.finitsolutions.com/Insights Webcast.htmlTo register, go to www.finitsolutions.com/Insights_Webcast.html
‐ 58 ‐

Th Fi it S l ti S i
Finit Contacts The Finit Solutions Series
Q ti ?Questions? Rob Cybulski
rcybulski@finitsolutions.com
215‐880‐2025
Email us for a
215 880 2025
Ed DeLise (VP of Sales)
d li @fi i l i
copy of the slides or
l k h d
edelise@finitsolutions.com
678‐296‐3611
link to the recording. insights@finitsolutions.com
‐ 59 ‐

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