The document discusses how leading finance teams are supercharging financial reporting by enhancing their finance architectures. It provides examples of common goals and constraints faced by CFOs, such as reducing costs and complexity while improving transparency. It then describes how top performers integrate data across systems using a standardized layer, centralized accounting rules, and a transaction-level sub-ledger to gain insights. A case study shows how one company automated processes, integrated 90+ systems, implemented profitability engines, and linked operational and finance data to empower analysts. Finally, it outlines best practices such as having a single source of accurate finance data and giving finance control over accounting rules and reporting processes.
An introduction to Aptitude Software.
Here we are providing a quick overview into what we do here at Aptitude Software. Includes case studies and examples of our past and present customers.
Proper management of funds allows us to prepare
long-term company development strategy, control
the progress of the most important business processes
and, consequently, to make correct investment decisions.
Finance and controlling are one of the most important
areas in your company, so it is worth ensuring they
function to the highest standard. It is, therefore, necessary
to use appropriate methods and tools.
In this respect, you can rely on SAP solutions – a package
of Hicron’s in-house tools supporting the operation
of the system and training services. Don’t wait, decide
which solutions will bring the most benefits to your
company!
A Good document helpful for people working on S4 HANA Finance. All slides shown in LAB Preview available in 1511 now.
If any one find sharing this document violating of copyright please let me know so I can remove.
An introduction to Aptitude Software.
Here we are providing a quick overview into what we do here at Aptitude Software. Includes case studies and examples of our past and present customers.
Proper management of funds allows us to prepare
long-term company development strategy, control
the progress of the most important business processes
and, consequently, to make correct investment decisions.
Finance and controlling are one of the most important
areas in your company, so it is worth ensuring they
function to the highest standard. It is, therefore, necessary
to use appropriate methods and tools.
In this respect, you can rely on SAP solutions – a package
of Hicron’s in-house tools supporting the operation
of the system and training services. Don’t wait, decide
which solutions will bring the most benefits to your
company!
A Good document helpful for people working on S4 HANA Finance. All slides shown in LAB Preview available in 1511 now.
If any one find sharing this document violating of copyright please let me know so I can remove.
Going From Public to Private - The Oracle E-Business Suite Challengeseprentise
Companies going from public to private aim to continue operations with minimal disruption, but because the transfer of ownership is still considered a purchase transaction under US GAAP, there are challenges that must be tackled within Oracle E-Business Suite. This session explores case studies of companies that efficiently met their EBS needs for post-privatization, including undergoing calendar changes to address short tax year accounting and revaluing fixed assets to reflect the date of acquisition, all without impacting day-to-day operations.
Secondary Ledgers - The Power of Adjustment Ledgers for Reporting and Complianceeprentise
Preparing adjusting entries involves a lot of journal entries, staff input and tedious work. Not anymore. One of the exciting features in Oracle E-Business Suite Release 12 is the introduction of adjustments-only secondary ledgers. As a more efficient processing of adjustments, adjustment ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
Who Does What, When, and How for a Divestiture?eprentise
Businesses that are going through a divestiture need to consider several key questions: What are we selling, and why? What data belongs to me, and how do I find it? As my business changes by the rules, how do I achieve agility? What are my options for divesting? This webinar will address potential business and IT issues affecting organizations that go through the divestiture process. The presentation will touch on key insights and outline approaches that can be used by both business and IT organizations to ensure success.
Oracle hyperion financial management Online Training is Offering at Glory IT Technologies. We have Certified Working Professionals on this Modules. They trained so many Global Students, We also Provides Corporate Training & Job/Project Support Services to Oracle hyperion financial management. We are Only Institute Delivering Best Online Training Services to this Module.
Everything you need to know about implementing NetSuite in China, including China GAAP tax reporting solutions Golden Tax Invoice system integration and strategies for successful user adoption
Oracle Revenue Management Cloud Services | what is ORMB? | revenue management...CLTConsultingService
Webinar on Oracle Revenue Management Cloud Services
Every Oracle ERP Professional need to know about Revenue Management Cloud Services
Agenda
What every ERP Consultant to know about RMCS
Why RMCS/Concept
Benefit of RMCS
RMCS Configuration
User Case
Business Flow
Follow KnowOracle-
KnowOracle Facebook Group:- https://www.facebook.com/groups/KnowOracle/
Oracle ERP Coach Facebook Page:- https://www.facebook.com/CloudERPCoach/
KnowOracle Linkedin Group:- https://www.linkedin.com/groups/8616115/
A comprehensive solution for the Financial Resource Planning (FRP), which fully automates Financial Control & Reporting, manages Operating and Capital Expenses as well as monitoring Budget implementation.
Le 13 janvier 2016, l’International Accounting Standards Board (IASB) a publié une nouvelle norme, IFRS 16, Contrats de location. Cette nouvelle norme permet la comptabilisation, par le preneur, de la plupart des contrats de location à l’état de la situation financière selon un modèle unique, faisant disparaître la distinction actuelle entre contrats de location-financement et contrats de location simple. Toutefois, le traitement comptable appliqué par le bailleur demeure essentiellement le même et la distinction entre contrats de location-financement et contrats de location simple reste inchangée.
L’IASB a publié la version définitive de la norme adoptant un modèle unique de comptabilisation par le preneur, alors que le FASB a préféré conserver le modèle double dans sa norme à venir. Toutefois, les deux normes exigent la comptabilisation des actifs et des passifs (à quelques exceptions limitées près).
Going From Public to Private - The Oracle E-Business Suite Challengeseprentise
Companies going from public to private aim to continue operations with minimal disruption, but because the transfer of ownership is still considered a purchase transaction under US GAAP, there are challenges that must be tackled within Oracle E-Business Suite. This session explores case studies of companies that efficiently met their EBS needs for post-privatization, including undergoing calendar changes to address short tax year accounting and revaluing fixed assets to reflect the date of acquisition, all without impacting day-to-day operations.
Secondary Ledgers - The Power of Adjustment Ledgers for Reporting and Complianceeprentise
Preparing adjusting entries involves a lot of journal entries, staff input and tedious work. Not anymore. One of the exciting features in Oracle E-Business Suite Release 12 is the introduction of adjustments-only secondary ledgers. As a more efficient processing of adjustments, adjustment ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
Who Does What, When, and How for a Divestiture?eprentise
Businesses that are going through a divestiture need to consider several key questions: What are we selling, and why? What data belongs to me, and how do I find it? As my business changes by the rules, how do I achieve agility? What are my options for divesting? This webinar will address potential business and IT issues affecting organizations that go through the divestiture process. The presentation will touch on key insights and outline approaches that can be used by both business and IT organizations to ensure success.
Oracle hyperion financial management Online Training is Offering at Glory IT Technologies. We have Certified Working Professionals on this Modules. They trained so many Global Students, We also Provides Corporate Training & Job/Project Support Services to Oracle hyperion financial management. We are Only Institute Delivering Best Online Training Services to this Module.
Everything you need to know about implementing NetSuite in China, including China GAAP tax reporting solutions Golden Tax Invoice system integration and strategies for successful user adoption
Oracle Revenue Management Cloud Services | what is ORMB? | revenue management...CLTConsultingService
Webinar on Oracle Revenue Management Cloud Services
Every Oracle ERP Professional need to know about Revenue Management Cloud Services
Agenda
What every ERP Consultant to know about RMCS
Why RMCS/Concept
Benefit of RMCS
RMCS Configuration
User Case
Business Flow
Follow KnowOracle-
KnowOracle Facebook Group:- https://www.facebook.com/groups/KnowOracle/
Oracle ERP Coach Facebook Page:- https://www.facebook.com/CloudERPCoach/
KnowOracle Linkedin Group:- https://www.linkedin.com/groups/8616115/
A comprehensive solution for the Financial Resource Planning (FRP), which fully automates Financial Control & Reporting, manages Operating and Capital Expenses as well as monitoring Budget implementation.
Le 13 janvier 2016, l’International Accounting Standards Board (IASB) a publié une nouvelle norme, IFRS 16, Contrats de location. Cette nouvelle norme permet la comptabilisation, par le preneur, de la plupart des contrats de location à l’état de la situation financière selon un modèle unique, faisant disparaître la distinction actuelle entre contrats de location-financement et contrats de location simple. Toutefois, le traitement comptable appliqué par le bailleur demeure essentiellement le même et la distinction entre contrats de location-financement et contrats de location simple reste inchangée.
L’IASB a publié la version définitive de la norme adoptant un modèle unique de comptabilisation par le preneur, alors que le FASB a préféré conserver le modèle double dans sa norme à venir. Toutefois, les deux normes exigent la comptabilisation des actifs et des passifs (à quelques exceptions limitées près).
PMC - THE ENERGY SAVING SOLUTIONS IN OFFICE BUILDINGS’ MANAGEMENT AND OPERATIONPMC WEB
PMC awares that by reducing energy consumption, we contribute to the
sustainable future of each client, partner, employee, community and to our
environment.
In each project managed by PMC, technologies and standard processes are
effectively applied to reduce water and electricity consumption, minimize
waste release to the environment and enhance efficient use of natural energy
sources.
Soft4Leasing - Software for lending and asset finance companies. Obtain opera...Soft4
Soft4Leasing is business software for lending and asset finance companies. The software
is tailored for the leasing business process and adaptable to the unique needs of your
company, helping you obtain operational excellence, reduce risks, support compliance
and promote growth throughout your company. Soft4Leasing is built on the Microsoft
Dynamics NAV platform and thus allows you to enjoy all the advantages of a world-class
ERP system.
The Future of Finance Function 2016 survey sponsored by Aptitude Software.
An insight into the changing role of the CFO and what can be done to ease the transition.
Aptitude Software discuss trends and challenges as telcos in Europe move closer to compliance with IFRS 15 regulations. The accompanying webinar is available on request from patrick.youngs@aptitudesoftware.com
My goal today is to inspire you to make a strong business case for applying big data in your enterprise, a key part of which is taking big data beyond analytics.
IFRS 16 Leasing with SAP Real Estate ManagementTobias Decker
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) recently announced the release of new accounting standards that define how organizations must account for leases. Essentially, these accounting standards stipulate most leases must be reported on each company’s balance sheet, increasing the risk of regulatory noncompliance and inaccurate statutory reporting.
SAP Real Estate Management is used to optimize the portfolio of global assets and supports the regulatory compliance of these new accounting rules. This solution provides a single point of entry for collection, validation of lease contract data, performs valuation calculations and generates the financial postings derived from these calculations.
Optimizing Executive Decision Making the Role of Consolidated Financialseprentise
Executive decisions push the business in new directions, shift management’s focus to what is mission critical and account for the company’s current position. In order to make the right choices, leaders need a clear understanding of the enterprise’s performance – or, more specifically, an accurate view of its financial data.
View the original Blog post: http://www.eprentise.com/blog/financial-standards/optimizing-executive-decision-making-the-role-of-consolidated-financials/
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
Welcome to our comprehensive course on the ERP Finance Module, where we will provide an in-depth exploration of this integral component of ERP systems. In this course, we will begin with an overview of the finance module and its diverse functionalities, enabling you to understand its role in managing financial operations within an organization. We will delve into the key features of the ERP finance module, highlighting its ability to streamline financial processes, enhance accuracy, and facilitate timely reporting. Moreover, we will discuss the benefits that arise from implementing the finance module, such as improved financial visibility, enhanced decision-making capabilities, and increased operational efficiency. However, we will also address the challenges that organizations may face during the implementation process and provide strategies for successful adoption. Additionally, we will guide you through the setup of financial controls and reporting mechanisms, including the establishment of chart of accounts, cost centers, and budgets. Managing accounts receivable, accounts payable, and general ledger within the ERP system will also be covered extensively. Furthermore, we will explore the generation of financial reports and the utilization of business intelligence tools for data analysis. Real-world examples of successful implementations will be shared to provide practical insights. By the end of this course, you will have a comprehensive understanding of the ERP finance module, equipped with the knowledge and skills required to leverage its functionalities effectively.
Best Practices for Enterprise Performance ManagementPerficient, Inc.
A special webinar for Finance professionals
Looking forward to budget season? For many managers, the budget process is a painful, manual process driven by disconnected Excel spreadsheets that are error-prone, static, and generally non-collaborative. The result is a budget that becomes irrelevant as soon as the new fiscal year begins.
A more nimble response is needed. Budgeting and planning should be a continuous, flexible exercise based on rolling forecasts, and supported by systems that can adapt as the business climate changes.
Join us as we discuss how applying best practices and using an automated Enterprise Performance Management system can help intelligent enterprises reap the benefits of flexible budgeting, accurate forecasting and dynamic planning. By implementing best practices for budgeting and planning, you can:
- Make the budget process less painful
- Replace spreadsheets with web forms
- Automate the budget roll-up process
- Create budgets based on key business drivers
- Link strategic goals to operational decisions
- Integrate financial “actuals” with budget and forecast data
- Provide easy, real-time variance reporting
- Access a single version of the truth for financial information
Presenter Emil Fernandez is General Manager of Perficient's national Enterprise Performance Management practice.
Why to strangle your business and increase complexities by using primitive business methods? Rather go for implementing an effective tool – ERP in your business and overcome the barriers of growth. Read on to discover the top signs that your business needs an ERP system. This guide will help you to analyze the pain points that your business has and how can they be resolved.
Deloitte SAP Finance Transformation AcceleratorJan Bultinck
Finance transformation is a double-edged sword. On one hand,
it can have a significant positive impact on business results.
But it can also require a considerable commitment of key talent
and resources for an extended period of time. That’s why no
organization takes finance transformation initiatives lightly. It’s
important to get them right
How to Safely Race to an Optimized Financial Accounting Close?Cogneesol
As per one survey by the Institute of Management Accountants, financial closing is one of the most significant challenges. In order to optimize financial close; an organization requires to make coordinated efforts. Here in this document, we have discussed how companies can race to an optimized financial accounting close safely.
Improve Efficiency, Compliance and Productivity Through Finance Transformatio...Perficient, Inc.
The role of corporate finance in financial services firms has expanded as the demands for balancing growth, regulatory compliance and risk management increase. Firms must be able to improve visibility, insight and control over financial performance, and this can be done through technology-enabled transformation.
In this webinar, our expert discussed the strategic vision and components of finance transformation that will help your enterprise to identify gains in operational efficiency, improve forecasting and reporting, reduce risk, and optimize the strategic functions of the finance organization.
We covered:
-Demand and drivers for finance change
-Key components of the finance operating model
-Prioritization of value creation opportunities
-Approach for improving financial reporting processes
-Solution architecture to deliver meaningful insights to the business
Business performance management, strategy
management, and financial consolidations are among
the most critical and complex tasks that your company
must manage. Transform your financial performance management with Infor.
This is a presentation I gave at the Cartesis World Conference in 2007 that described how I created a roadmap for a regional bank to improve their operating and financial reporting systems and processes.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Let's dive deeper into the world of ODC! Ricardo Alves (OutSystems) will join us to tell all about the new Data Fabric. After that, Sezen de Bruijn (OutSystems) will get into the details on how to best design a sturdy architecture within ODC.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered Quality
Aptitude Finance Architect Brochure
1. How CFOs and their teams are
supercharging financial reporting
2. Does your finance team spend too much time manually collecting, integrating
and validating data to support financial or management reporting?
Does your general ledger and reporting infrastructure give you only
aggregated balances leaving you without the detailed data to understand
what’s happening in your business?
Is your organization’s decision making and financial controls limited by
IT complexity?
Do you have detailed insights into the profitability of products, channels,
customers or other dimensions?
Are your finance operations
running smoothly?
50%of finance executives say
decision making is limited
by symptoms of IT
complexity1
100%increase in the
performance of CFOs
who prioritize integrating
enterprise-wide data2
44%of high performing CFOs
are more likely to combine
internal and external data
to produce insights3
CFOs are increasingly
looked to for strategic
input. So, how do
top finance teams
deliver more value
to the business?
Today’s Chief Finance Officers have an opportunity to take a more visible
role in strategic decision making, and in turn are keen to improve business
analysis and reporting capabilities.
Identifying ways to enhance profitability requires integrating rich,
transaction-level data and having the proper time and tools to extract
insights. Unfortunately, finance IT architectures are commonly not fit for
purpose. The majority of finance’s effort is expended keeping up with
statutory and regulatory reporting requirements.
In this ebook, we present how leading firms are supercharging reporting by
enhancing, rather than ripping-out-and-replacing their finance architectures.
1
source
http://www.microgen.com/uk-en/sites/
default/files/whitepaper_the_road_to_fi-
nancial_transparency.pdf
2
source
http://www-03.ibm.com/press/us/en/
pressrelease/43363.wss
3
source
http://www-03.ibm.com/press/us/en/
pressrelease/43363.wss
3. There is clearly no one right finance architecture.
However, through our years of experience, we have
identified common goals and challenges that apply
to finance organizations across industries and
geographies.
CFOs’ Common Goals
• Reduce cost & complexity of financial processing
• Deliver financial transparency and insight
• Establish a single version of granular, high-quality
finance data to drive the business forward
• Reduce time and effort to close books
Common Constraints
• Proliferation of manual, Excel driven processes –
too much time data jockeying!
• Limited transparency between GL and source
systems – inadequate integration!
• Neither ERP systems nor data warehouses are
designed to address ever-changing management
reporting needs – no single source of financial truth!
• Cost complexity of finance transformation
initiatives e.g. GL consolidation, ERP upgrade,
etc – no obvious escape route!
Leading finance teams deliver more value by tuning up their finance
IT architecture along three dimensions
Servicing your finance engine – the three goals
of finance transformation
Timeliness
Access reports and financial information when you need
it rather than waiting so you can inform business decisions
ahead of time. When you’re dealing with increasing
volumes of data, it’s important to retain control over speed
of access, right down to a granular level.
Data Centricity
Ensure data is at the center of your architecture to enable
trustworthy auditing of reported and reconciliation of
financial results. Rely on a single source of high quality,
finance accurate data to fuel your reporting and generate
insight for your business.
Financial Control
Having direct control over data and accounting rules,
workflows and processes helps finance teams account
for new business models, reduce close times, efficiently
address regulatory requirements and more.
4. Six common problems caused by typical finance systems environments
LIMITED CONTROL: Finance doesn’t control
accounting rules built into product systems.
KEY
Transactions
Debit/Credits
Balances
INADEQUATE INTEGRATION: Systems
are connected independently resulting
in untrustworthy data integrity.
CONFIDENCE IN REPORTING: No ability to drill down
from reported results to underlying transactions.
LACK OF AUDITABILITY AND CONTROL
Proliferation of manual, Excel-driven processes.
Data in different forms, times and cycles.
MANUAL PROCESSING: Finance relies
on manual reconciliations or disparate
calculation engines to deliver reporting.
NO SINGLE SOURCE OF FINANCIAL TRUTH: Warehouse
doesn’t reconcile with GL – issues with timeliness
and trustworthiness of management information.
The typical IT environment on which finance relies is complex, messy and driven by manual processing
1 3 5
2 4 6
FINANCE PROCESSING – CLOSE
CONSOLIDATION AND CALCULATIONS
Product System
Product System
Statutory Reporting
Compliance Reporting
Management Reporting
Operations System
Excel Army
Enterprise Data
WarehouseERP or HR System
Operational Ledger
Operational Ledger
Accounting Engine
Accounting Engine
Data
Mapping
Matrices
Operational Ledger
Excel Army
Operational Ledger
Accounting Engine
Accounting Engine
COA
Remapping
Data Input
Changes
Finance SystemS
Finance PROCESSES
Prepare accruals and pre-paids
Allocations and top-side adjustments
Inter-company eliminations
FX calculations
MULTi-SOURCE
SYSTEMS
REPORTINGDATA
INGESTION
6
5
3
1
1
1
1
2 4
Transaction
Data Store
Sub-Ledger
General
Ledger
5. Project Goals
• Single operational environment for
finance processing and reporting
• Speed to respond to changes such
as need for FX valuation capabilities
• Reduced cost and risk of manual
processing
• Empowered financial analytics
and the ability to drill down from
GL to underlying transactions
A leading consumer credit and financial
services company wanted to better
understand what transactions were
driving profitability. They realized that
small changes to pricing, contracts or cash
management, when applied over their
millions of transactions, could provide
excess profits and a competitive edge.
Unfortunately, the CFO and finance team
found that the information in their data
warehouse was neither reliable or timely
enough, and their legacy General Ledger
only showed highly aggregated balances.
To make matters more difficult, finance
processing was characterized by highly
manual (Excel-based) processes – there
was no one single source of data. Here
are the steps they took to supercharge
their financial reporting capabilities.
Case study
A leading consumer financial services firm gets all of the
right components in place
5. Profitability calculation
engines were implemented
using both finance and
operational data to
standardize analyses
and provide detailed,
ongoing information.
1. Large volumes of manual adjustments
were automated or routed through
structured workflows to greatly increase
speed and auditability of accounting.
4. Verified finance data was linked
with operational data within an
existing data warehouse to give
the business high quality, on
demand reporting across systems.
2. Source data from 90+
source systems was integrated
using a single standardization
layer, ensuring integrity and
traceability while removing
disparate manual integrations.
3. The existing GL was supplemented
with a sub-ledger, providing a drill
down to transactional data.
Reconciliations ensured data was
granular, attributable and accurate.
6. REPORTING
Streamlining key elements of the finance IT architecture enables CFOs to achieve financial control, insight and transparency.
FINANCE OPERATIONS
Automating the process of managing
transactions from source to post
StandardiZation
Layer
General
Ledger
Enterprise Data Warehouse
6
A SINGLE SOURCE OF FINANCE-ACCURATE DATA
Replace costly interfaces with a standardization layer
to store detailed, finance-accurate data in a true
double entry accounting sub-ledger.
A single point of control for accounting rules
Implement multi-GAAP accounting with flexible
rule templates for consistent treatment of data, quick
implementation and agile change.
CONTROL MANUAL ADJUSTMENT WORKFLOWS
Streamline manual processes including adjustments
or reconciliations with automated workflows.
DELIVER INSIGHT INTO THE ORGANIZATION
Drive valuable financial analytics with linkage
between data warehouse, operation detail and finance
data for analytics, reporting calculation processes.
CONFIDENCE IN REPORTING
Drill back from General Ledger balances to transaction
events and reference data; automatically reconcile
accounting balances.
EXTREME SCALABILITY
Rapidly process hundreds of millions of transactions
per hour to deliver timely financial, statutory and
management reporting even for the largest enterprises.
1 3 5
2
4
6
Product System
Product System
Operations System
ERP or HR System
Operational Ledger
Operational Ledger
Accounting Engine
Accounting Engine
Operational Ledger
Operational Ledger
Accounting Engine
Accounting Engine
MULTi-SOURCE
SYSTEMS
Management
Reporting
Financial Reporting
Compliance
Regulatory
Reporting
4
5
1
Accounting
Engine
2 Multi-GAAP
KEY
Transactions Debit/Credits
Balances Consistent Information
Accounting Hub
Strategic
Accounting
Sub-Ledger
4
Manual
adjustment portal
3
7. Create a single finance
accurate source of data:
• Implement a robust standardization layer
with the capacity to integrate, standardize,
enrich transform granular, transaction
level data
• Connect to any source system regardless
of vendor or age of system
Take control over
accounting rules:
• Centralize the control and application
of accounting rules– give finance teams
the ability to change and affect rules
• Deliver true multi-GAAP, multi-entity
multi-currency reporting from a single
point of control
Use detailed data
to deliver insight:
• Leverage an accounting hub and sub-ledger
to store valuable transaction level detail for
audit requirements and balance drill down
• Use granular detail to gain better insights
into costs, profitability and performance
Finance Safety Checklist
Speed the time to produce
financially accurate reporting:
• Reduce the complexity of reporting processes
with finance workflows, especially for
managing manual adjustments, reconciliations
and postings
• Speed the close process by processing
multi-GAAP accounting quickly using
leading technologies
Be flexible enough to
address new requirements:
• Consider how application engines can be built
on top of your finance architectures to address
new requirements
• Ensure change doesn’t require upgrading ERP
systems or building new software from scratch
Ensure finance architectures
serve business users:
• Reduce dependency on IT teams to access data,
change accounting rules or implementing new
calculations
• Give Finance users control to change accounting
rules via graphical user interfaces