Perficient is a leading IT consulting firm that helps clients implement business technology solutions to improve productivity, customer loyalty, and agility. The document discusses Perficient's expertise in financial services and outlines opportunities for finance transformation through streamlining inefficient processes, disparate systems and data, complex organizational structures, and addressing new business and regulatory demands. Finance transformation requires a systematic plan to understand people, processes, and technology and implement needed changes across the organization.

1. Improving Efficiency, Compliance & Productivity with Finance Transformation in Financial Services
October 29, 2014

2. Perficient is a leading information technology consulting firm serving clients throughoutNorth America.
We help clients implement business-driven technology solutions that integrate business processes, improve worker productivity, increase customer loyalty and create a more agile enterprise to better respond to new business opportunities.
About Perficient

3. •Founded in 1997
•Public, NASDAQ: PRFT
•2013 revenue ~$373 million
•Major market locations throughout North America
•Atlanta, Boston, Charlotte, Chicago, Cincinnati, Cleveland, Columbus, Dallas, Denver, Detroit, Fairfax, Houston, Indianapolis, Los Angeles, Minneapolis, New Orleans, New York City, Northern California, Philadelphia, Southern California, St. Louis, Toronto and Washington, D.C.
•Global delivery centers in China, Europe and India
•>2,200 colleagues
•Dedicated solution practices
•~90% repeat business rate
•Alliance partnerships with major technology vendors
•Multiple vendor/industry technology and growth awards
Perficient Profile

4. BUSINESSSOLUTIONS
Business Intelligence
Business Process Management
Customer Experience and CRM
Enterprise Performance Management
Enterprise Resource Planning
Experience Design (XD)
Management Consulting
TECHNOLOGYSOLUTIONS
Business Integration/SOA
Cloud Services
Commerce
Content Management
Custom Application Development
Education
Information Management
Mobile Platforms
Platform Integration
Portal & Social
Our Solutions Expertise

5. Industry Driven Solutions
Global Delivery Centers/Offshore Delivery
Deep Financial Services Domain Expertise
Strategic Partners
Deep Financial Services Domain Expertise
BANKING
Wholesale
Consumer
Credit Unions
Payment Processing
Trust & Custody
Trade Services
Treasury Services
ASSET & WEALTH
MANAGEMENT
Equities & Fixed Income
Private Equity & Real Assets
OMS & EMS
Research Analytics
Portfolio Modeling
Portfolio Accounting
Performance & Reporting
CAPITAL
MARKETS
Equities & Fixed Income
FX & Commodities
Future & Options
Electronic Trading
INSURANCE
Investments
Customer Acquisition
Compliance & Risk Strategies
Property & Casualty
Life Annuities Services
Claims Evaluation
Underwriting
Consumer Direct
Business/
Technology Solution
Rationalization
and Delivery
Business Process
Improvement
Program Value,
Quality and
Cost Management
Client
Centricity
Risk and Regulatory
Compliance
Finance
Transformation
Solutions & Services

6. Presenter
Sanjay Balan
Director of Financial Services, Perficient
Sanjay Balan has more than 20 years of experience in the financial services industry advising a large cross-section of clients across capital markets, banking, asset and wealth management.He is a director in Perficient’s Financial Services practice and the industry leader for the finance transformation competency that provides consulting services covering the full lifecycle of the accounting process.

7. Historical View of Finance Function
•Consolidating financial information within the general ledger (GL)
•Reconciling data
•Reporting to internal stakeholders and external entities

8. Issues & Business Drivers
Global Accounting Policy
•Current back office clearance and settlement systems have accounting rules embedded within them with limited transparency
•Some systems are fully integrated from front to back offices, accounting rules and GLs that provide very little documentation on the exact accounting rule
•Accounting rules are created multiple times for the same transaction type globally
•Rules may be hard-coded into programs and spreadsheets that directly feed the global GL
•Conform to IFRS regulations

9. Issues & Business Drivers
Accelerating the Financial Close
•Many manual processes in the financial close originate in the front to back-office areas, which need to be addressed to drive accelerated close
•Inconsistent reconciliation model across locations and lines of business resulting in time consuming processes affecting the close cycle
•Transparency issues due to “legacy black boxes” in interfaces, transformation engines, back office systems
•Many different chart of accounts are costly to maintain adding to bottlenecks and reduced benefits realization from platform improvement efforts

10. Issues & Business Drivers
Regulatory Reporting Needs
•The increased regulatory landscape in financial services has required various reports (FR Y-9C, Call Report, FOCUS, CCAR Y-14s, 10K, 10Q, etc.) to be created and published on a periodic basis to regulatory agencies
•Management reporting –controller dashboards and financial analytics increases the need to have a single source of information for all data consumption needs

11. The Changing Face of Finance
Expanded Responsibilities
•Larger, more complex and vastly more critical function in financial services
•Purview of corporate finance extends long before GL processing and ends long after reconciliation
•Far less linear and more intertwined process
•Shift to a global accounting policy
•Ongoing regulatory demands

12. Finance Processes, Functions & Key Stakeholders
Source: Forrester Research
Finance Transformation: A Practical Guide to Streamlining Finance Functions That Pay Off

13. Whatis
the
Opportunity?

14. The New Corporate Finance Agenda

15. What is Finance Transformation?
Enterprise-wide “change” designed to help finance organizations with:
•Inefficient, manual processes
•Disparate systems& datastructures
•Complex organizationalstructures
•New businessdemands
•Regulatoryreporting requirements
Goal: More streamlined, data-driven and regulated environment that delivers value to the organization.

16. Realizing Financial Success
PEOPLE
PROCESS
TECHNOLOGY
Finance Transformation programs require a systematic plan that understands the current state of people, processes and technology

17. 10/29/2014 17
Implementing technologyalone without considering needed processor organizationalstructure changeswill not achieve the desired transformation objectives or target operating model.

18. How to Initiate a Finance Transformation Program

19. Business Process Reengineering

20. The New Finance Operating Model

21. Finance Transformation Services
•End-to-end process mapping
–Across product systems providing data to the general ledger, including: accounting rules specific to equities, fixed-income, FX, derivatives, options
•Sub-ledger architecture, general ledger implementation, reconciliation, and consolidation
•Post-general ledger financial data warehouse for:
–Management
–Compliance
–Financial reporting
–Risk

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23. Download our new digital series Transform for Tomorrow: Navigating New Forces in Financial Services:
http://www2.perficient.com/transform-for-tomorrow
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