Finit solutions fcm_arm_introduction_webinar

www.finitsolutions.com
Getting the Most out of EPM
An Introduction to Financial Close Manager and
Account Reconciliation Manager
August 31th 2012
Jason Hampton (jhampton@finitsolutions.com)

‐ 2 ‐
Finit Introduction
Finit Solutions specializes in consulting services in the Oracle Hyperion Enterprise
Performance Management Solutions suite of products:
Financial Close and Consolidation
– Financial Management (HFM)
– Hyperion Enterprise
– Financial Close Management
– Disclosure Management
– Account Reconciliation Module
Integration
– Financial Data Quality Management (FDM)
– Oracle Data Integrator (ODI)
– Enterprise Performance Management
Architect (EPMA)
– Data Relationship Management (DRM)
– Other (ERPi, EIS, etc.)
Planning and Business Intelligence
– Planning
– Core Planning
– Modules (Workforce, CapEx)
– Essbase (ASO / BSO)
Reporting Tools
– Financial Reporting
– Smart View / Essbase Excel Add‐In
– OBIEE
– Financial Management Analytics
(OFMA)
– Web Analysis

‐ 3 ‐
Finit Services
Finit’s consulting services cover a broad range of implementation and post
implementation options.
Finit Solutions: Implementation Services
– Full cycle implementations
– Discovery and Requirements
– Global Design
– Detailed Design and Build
– Testing and Training
– Deploy
– Infrastructure Services
– Data Services (historical data, GL data
integration)
– Project / Program Management
– Product Upgrades
– Redesign / Enhancements
Finit Answers: Post Implementation
Support
– Access to Hyperion SME’s (Dedicated
support team and available consultants)
– Customer Service Focus
– Time and Materials Support
– Flexible support packages tailored to
client needs
– Guaranteed Response Times
– Technical and Admin / Functional
Support
– Short‐term remote staff augmentation
services

‐ 4 ‐
We strongly believe that Service + Solutions = Maximum Value
Service
– Consultant compensation model is based upon client satisfaction with
consultant’s work, not how many hours they charge.
– Finit has no external owners and Finit partners are involved in every full‐
cycle implementation.
– Finit uses its own employees, not contractors.
Solutions
– Finit consultants are Hyperion product experts who enjoy designing, building
and deploying great solutions, applications and processes.
– Finit works closely with Oracle Hyperion development on product strategy
and beta testing.
– Finit consultants receive 2 weeks of product / functional training a year.
– Finit Answers provides support services on a pay‐as‐you‐use model.
Finit’s Focus

‐ 5 ‐
Finit’s Values

‐ 6 ‐
Our client service approach has led to 100% customer
satisfaction for every Finit client (164 and counting) for
every Oracle Hyperion project (over 280 and counting).
Finit’s Client Service

‐ 7 ‐
About the Presenter
Jay Hampton – jhampton@finitsolutions.com
Partner with Finit Solutions
Hyperion Consultant since 2004
Based out of Cincinnati, OH
No kids + No pets = No picture 

‐ 8 ‐
 Financial Close Manager (FCM) Overview
Features
FCM Set Up
Task Properties
Demo
 Account Reconciliation Manager (ARM) Overview
ARM Process
ARM Set Up
Demo
 Q and A
Agenda

‐ 9 ‐
Released with EPM 11.1.2.0
Part of the EPM Suite
Integrated with Shared Services and Workspace
Marketed as Centralized Repository of Tasks and
Activities related to Financial Close Process but…
it could be used to Track ANY Process
FCM Overview

‐ 10 ‐
FCM Overview

‐ 11 ‐
FCM Overview

‐ 12 ‐
FCM Overview

‐ 13 ‐
Pre‐Built Dashboards to Monitor Status
Ability to create and re‐use ‘Templates’ of Tasks
Add Comments To Tasks
Attach Supporting Documentation to Tasks
Email Alerts for Approaching Due Date or Past
Due tasks
Ability to Integrate with External Applications
Can Import/Export Tasks via Excel
FCM Features

‐ 14 ‐
Dashboards

‐ 15 ‐
Dashboards

‐ 16 ‐
Templates

‐ 17 ‐
Email Alerts

‐ 18 ‐
Can integrate with External Applications
Oracle EBS
PeopleSoft
HFM
Planning
Currently requires some custom development but
Oracle development is working on “easier” set up
for integrations
Integrated Tasks

‐ 19 ‐
Import / Export Via Excel

‐ 20 ‐
Create a Template(s)
Create Tasks in a Template(s)
Assign Attributes and Users to Tasks
Create Schedules using Template(s)
Can be as Simple/Complex as you want
Can Modify “as you go”
Recommend Start Simple and Grow into the
Product
FCM Set Up

‐ 21 ‐
Add Tasks To Templates

‐ 22 ‐
Task Name / Task ID
Description
Task Type
Priority
Start / End Date
Duration
Allow Early Start
Owner / Assignee
Tasks Set Up ‐ Properties

‐ 23 ‐
Tasks Set Up ‐ Properties

‐ 24 ‐
Instructions
Can provide written instructions or “references” to
other instructions
Questions
Can require users to answer
Access
Can add Approvers and/or Viewers
Tasks Set Up

‐ 25 ‐
Tasks Set Up ‐ Instructions

‐ 26 ‐
Tasks Set Up ‐ Questions

‐ 27 ‐
Tasks Set Up ‐ Access

‐ 28 ‐
Can add Dependent Tasks
Predecessor Type
Finish to Start (Default) ‐ The task starts as soon as the
predecessor task completes or finishes with warning.
Finish Error to Start ‐ The task starts as soon as the predecessor
task completes, even it is in error.
Finish Error to Finish ‐ The task completes as soon as the
predecessor task completes, even it is in error.
Finish to Finish ‐ The task cannot be marked as Complete until
the predecessor task has been marked as complete.
Tasks Set Up ‐ Predecessor

‐ 29 ‐
Tasks Set Up ‐ Predecessors

‐ 30 ‐
Custom Attributes
Date
Date and Time
List
Number
True/False
Use Case
Amount of Time spent on Task
Department That Owns The Task
Task Grouping (Accounting, FP&A, Etc.)
Tasks Set Up

‐ 31 ‐
Tasks Set Up ‐ Attributes

‐ 32 ‐
FCM Demo

‐ 33 ‐
Account Reconciliation Manager
New Product to Manage and Monitor your Global
Account Reconciliation Process
Released as part of EPM 11.1.2.2
Integrated with Shared Services and Workspace
Requires ERPi for Data Integration Component
Can NOT load General Ledger data via FDM
Most likely replacing an excel based solution
ARM Overview

‐ 34 ‐
What are Account
Reconciliations?
The term “account reconciliations” means
different things to different people
If you talk to a: They will think you are
talking about:
Cash Manager Reconciliation of
disbursement accounts
Operations employee Reconciliation of core
operational systems
Controller or General
Ledger Manager
Verification of financial
reporting balances

‐ 35 ‐
Accounting reconciliations
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31
At the end of each period, balances must be reconciled in general ledger
systems and consolidation systems for financial reporting purposes

‐ 36 ‐
 Accounts subject to accounting reconciliation
 Balance Sheet Accounts, as part of the balance sheet reconciliation process
 Consolidation system accounts, as part of the consolidation system
reconciliation process
 Local GAAP / statutory accounts, as part of Local GAAP/statutory
reconciliation process
 P&L accounts, as part of the P&L reconciliation process
 Key characteristics of accounting reconciliations
 They are process‐specific
 Focused on period‐end balances
 Generally managed by corporate accounting or shared services
 Performed by divisional accountants world‐wide
 May use reconciliation compliance software
Accounting reconciliations

‐ 37 ‐
 Risk of missing accounts
 No visibility into the status of completion
 Incomplete explanations
 What happens if the balances change? Are
reconciliations updated?
 Inability to report across reconciliations
 Risk of lost reconciliations
Risks with Excel Based Account
Reconciliations

‐ 38 ‐
ARM Overview – Workflow
Load BalancesLoad Balances
Auto ReconciliationAuto Reconciliation
Email NotificationsEmail Notifications
PreparationPreparation
ReviewReview
Late NoticesLate Notices
MonitoringMonitoring
 ERPi Data load adaptors
provided for:
 Oracle E‐Business Suite 11i, 12
 Oracle Fusion Financials
 PeopleSoft Enterprise Financial
Management 9.0, 9.1
 JD Edwards Enterprise version
9.0
 SAP ERP Financial 4.7c, ECC 6.0
enhancement pack 4.0+
 Flat Files – New with
11.1.2.2

‐ 39 ‐
Load Balances

‐ 40 ‐
ReviewReview
 Auto Reconciliation
 Zero Balance Accounts
 Balance Comparison
Accounts

‐ 41 ‐
Auto Reconciliation

‐ 42 ‐
ReviewReview
 Email Notifications
 Sent daily at 6 am
 Reminders that
reconciliations should
begin

‐ 43 ‐
ReviewReview
 Preparation
 Configurable Formats
 Adaptable to each
account type
 Instructions
 Attach supporting docs
 Loadable transactions

‐ 44 ‐
Preparation – Source Balances

‐ 45 ‐
Preparation – Explained Balances

‐ 46 ‐
ReviewReview
 Review
 Comments
 Tickmark features
 Approval and rejection
workflow

‐ 47 ‐
Review

‐ 48 ‐
ReviewReview
 Late Notices
 Sent daily at 6 am
 Sent only to users who
have missed a deadline
 Notifications continue
until work is complete

‐ 49 ‐
Email Reminders / Late Notice

‐ 50 ‐
ReviewReview
 Monitoring
 Status of reconciliations
 Aging analysis
 Warnings
 Debit / credit violations
 Aging violations

‐ 51 ‐
Monitoring

‐ 52 ‐
 Identify Accounts and Data Sources to Reconcile
 Note: Level of Account Reconciliation is Very Important!
 GL Account Level? GL Account + Cost Center Level? GL Account
+ Legal Entity Level? Etc.
 Create Account Reconciliation “Profiles” and assign
attributes and Reconciliation Preparers and Reviewers
 Configure ERPi to Map and Load General Ledger Data to
Profiles
 Create Monthly Reconciliations from Profiles
 Load General Ledger Data into ARM
 Open Reconciliations to Users
ARM Set Up

‐ 53 ‐
Two Types of Reconciliations
(ARM Formats)
Balance Comparison
• Automated comparison of source system
and subsystem balances
– Accounts payable
– Accounts receivable
– Inventory
– Fixed Assets
Account Analysis
• Justification of the source system balance
– Prepaids
– Accruals
– Intangibles
– Any other account where the balance is not
derived from a subsystem

‐ 54 ‐
 Account ID
 Account – Company / Account – Cost Center / etc.
 Name/Description
 Risk Rating ‐ High, Medium, Low
 Format
 Balance Compare
 Account Analysis
 Tracker
 Normal Balance – Debit/Credit
 Auto Reconciliation – Yes/No
 Manually Enter Balances – Yes/No
Profile Set Up ‐ Properties

‐ 55 ‐
Profile Set Up ‐ Properties

‐ 56 ‐
Profile Set Up ‐ Instructions

‐ 57 ‐
 Preparer
 Frequency
 Start Day Offset
 Duration
 Currently Limited to Individual but next PSU to support Groups
 Reviewers
 Can add as many as you want
 Frequency
 Ex. 1 Reviewer for Monthly, 2 for Quarterly
 Duration
Profile Set Up ‐ Workflow

‐ 58 ‐
Profile Set Up ‐ Workflow

‐ 59 ‐
 Single – All reconciliations done in one common currency
 Multiple – if reconciliations are done in more than one
currency
 Entered: Balances and transactions in the currencies in which
they occurred
 Functional: Balances and transactions in the currency
associated with the entity that owns the account
 Reporting: Balances and transactions in the currency used for
system‐wide reporting
 Can enable/disable per Profile
Profile Set Up ‐ Currency

‐ 60 ‐
Profile Set Up ‐ Currency

‐ 61 ‐
 Commentators
 Can view and add comments to Reconciliations
 Supports Users or Groups
 Viewers
 Can view but not comment on Reconciliations
 Supports Users or Groups
Profile Set Up – Access

‐ 62 ‐
Profile Set Up ‐ Access

‐ 63 ‐
 Custom Attributes
 Allow for different ways to Group or Track Reconciliations
 GL System
 Legal Entity
 Geographical Location
 Shared Service Center
Profile Set Up – Attributes

‐ 64 ‐
Profile Set Up ‐ Access

‐ 65 ‐
Profile Set Up – History

‐ 66 ‐
 Consistent and Controlled Process
 Audit Trail of Reconciliations Including Drill Through to
Source Data
 Complete Data Loads
 Ability to Map Across Multiple General Ledgers
 Ability to Reconcile Across Multiple Currencies
 Ability to Export / Import Profiles via Excel
Other ARM Features

‐ 67 ‐
Complete Data Loads

‐ 68 ‐
Ability to Map Across Multiple
General Ledgers

‐ 69 ‐
Ability to Reconcile Across
Multiple Currencies

‐ 70 ‐
 All Profile Properties are in columns, can save as .csv and
import
Ability to Import / Export Profiles
Via Excel

‐ 71 ‐
ARM Demo

‐ 72 ‐
Can be purchased Stand Alone or as part of the
Financial Close Suite
Heather Lynds – FCM and ARM Product Manager
Best PM at Oracle!
Very hands on and committed to customers success
FCM and ARM Recorded Training Available on
OTN:
http://www.oracle.com/technetwork/middleware/clos
e‐management/tutorials/index.html
FCM and ARM ‐ Other Info

‐ 73 ‐
Questions?
Email us for a
copy of the slides or
link to the recording.
Finit Contacts
insights@finitsolutions.com
‐> Jason Hampton
jhampton@finitsolutions.com
216.870.3657
More EPM Questions?
ask@finitsolutions.com

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