Learn how to automate close, consolidate, report and file (CCRF), a process that uses the best software and a more focused flow of information to manage and report information in a productive, collaborative and efficient manner. View the webinar video recording and download this deck: http://www.senturus.com/resources/streamlining-financial-statement-reporting/.
See a demo of IBM Cognos Controller and gain insights on how to automate the close and consolidate processes.
Senturus, a business analytics consulting firm, has a resource library with hundreds of free recorded webinars, trainings, demos and unbiased product reviews. Take a look and share them with your colleagues and friends: http://www.senturus.com/resources/.
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Streamlining Financial Statement Reporting: Demo of Cognos FSR
1. Financial Statement Reporting
The “last mile” of the
Close, Consolidate, Report and File (CCRF)
Process
Helping Companies Learn From the Past, Manage the
1 Present and Shape the Future
2. This slide deck is part of a recorded webinar.
To view the FREE recording of this entire
presentation and download the slide deck, go to
www.senturus.com/recorded-webinars.php
You will find this—and many other recorded webinars-- under the “IBM Cognos Office
of Finance Solutions: TM1, EP, Controller, FSR‖
2
3. Agenda
• Introduction
• Close, Consolidate, Report and File
(CCRF) Overview
• Demonstration of Cognos FSR
• Next Steps
• Q&A
3
4. Welcome and Introduction
Greg Herrera
CEO
Senturus
Gary Kantz
National Practice Director, Consolidations and Reporting
Senturus
Clark Muse
WW Channels for Cognos FPM/FSR
IBM
Louis Robinson
Solution Specialist , Cognos FPM/FSR
IBM
4
5. Who is Senturus ?
• Consulting firm specializing in Corporate Performance
Management
– Office of Finance
• Consolidate, close, report and file (CCRF)
• Enterprise planning & budgeting
– Business Intelligence
– San Francisco Business Times Hall of Fame -- Four
consecutive years in Fast 100 list of fastest-growing
private companies in the Bay Area
• Experience
– 12-year focus on performance management
– More than 1,000 projects for 500+ clients
– IBM/Cognos Premier Partner
• People
– Business depth combined with technical expertise.
Former CFOs, CIOs, Controllers, Directors...
– DBAs with MBAs
5
8. Current Challenges Within the Office of Finance
Pressure to shorten the close process
Translating local currencies of their subsidiaries into the base currency
of the entire enterprise.
Conversion from local accounting principles to US Generally Accepted
Accounting Principles (GAAP).
Elimination of intercompany transactions between subsidiaries
The ability to produce meaningful, dynamic reports that can be used
for making critical management decisions and financial analysis
Establishing controls mandated by government agencies (for example,
the Sarbanes-Oxley act, or ―SOX‖)
Transmission of government reports in electronic format as
mandated by the SEC and other agencies
8
9. Automation of Key Processes – ―CCRF‖
CLOSE CONSOLIDATE REPORT FILE
Data collection Currency Financial reporting Annual and
translation quarterly reports
Close accounting Management
systems Eliminations reporting Government
reporting
Account Automated Financial analysis
reconciliation company and top- Electronic filing
side journals Business (XBRL) and
Intercompany intelligence Edgarization
transactions Rollup of entities
and custom Financial
Journal entries dimensions Presentations
Finance and Accounting Reporting and Analytics Governance
Consolidation, BI, Collaborative
Consolidation
ERP System Collaborative Reporting
Solution Reporting Solutions Solution
9
10. Results of a Solid CCRF Strategy
• A shorter, more efficient financial close
• Better internal controls
• Automation of key processes
• Easy, secure application deployment
• Reducing dependency on manual processes
10
11. This slide deck is part of a recorded webinar.
To view the FREE recording of this entire
presentation and download the slide deck, go to
www.senturus.com/recorded-webinars.php
You will find this—and many other recorded webinars-- under the “IBM Cognos Office
of Finance Solutions: TM1, EP, Controller, FSR‖
11
12. Today’s Focus: Reporting and Filing
IBM COGNOS FINANCIAL STATEMENT
REPORTING (FSR) DISCUSSION &
DEMO
To view a free recoding of this demo, go to
www.senturus.com/recorded-webinars.php
You will find this recording under the IBM Cognos Office of Finance
Solutions: TM1, EP, Controller, FSR section. It is entitled Automate the
Close & Consolidate Processes.
12
13. Senturus Upcoming Events:
• February 15, 2012 – Insight into Net Profitability
Free Webinar 10:00 AM -11:00 AM PST
– During this webinar, we will show you how to gain insight into the true drivers of profitability
across your enterprise.
• March 15, 2012 –Automating the Consolidation & Close
Processes
Free Webinar, 10AM -11:30 AM PST
– Reduce errors, inefficiencies and limited insight caused by using spreadsheets for
consolidating multiple chart-of-accounts, foreign currency translation, journals and reporting.
• The Pain of Closing the Books (and Prescriptions to Make
it Painless) Whitepaper
By Gary Kantz
Download this whitepaper and many of our other learning resources
http://senturus.com/recorded-webinars.php
13
14. Contact Information
Need more details?
Chris Fargo
cfargo@senturus.com
(510) 473-7096
14
Hello. Welcome to the first installment of the Close Consolidate Report and File series. In today’s session we will discuss the “last mile” of the CCRF initiative—Financial Statement Reporting.
After a quick introduction of the team, we’ll give an overview of what the CCRF is and how Financial Statement Reporting fits in. We’ll then have our partners at IBM give a demonstration of Cognos Financial Statement Reporting (FSR). Next, we’ll share potential next steps you may want to take move your company toward streamlining your Financial Reporting.We’ll wrap with a Q&A session that will address the questions not already covered interactively during the webinar.
I’ll now hand the floor over to Gary Kantz so he can provide the context for today’s session with a quick overview of the close, consolidate report and file process. Gary?