Organizations today face a constant stream of requirements and regulations that add complexity and change to their period-end close processes. Add to that reality a manually-driven approach to ‘closing the books’ and it is not surprising that organizations recognize the value of adopting a tool that can efficiently manage all of their financial close cycles. This presentation will make a case for embracing a unified financial close strategy that incorporates Oracle Hyperion Financial Close Management. Objectives: • Demonstrate the benefits of an optimized close process • Reveal the advantages of increased collaboration • Exhibit the improvements in user productivity • Illustrate the value of improved transparency and compliance • Demonstrate the assurance of reconciliation accuracy

1. REMINDER
Check in on the
COLLABORATE mobile app
Oracle Financial Close
Management: Embrace the Change
Prepared by:
RJ Linehan
Managing Partner, Innovus Partners
Board Member, OAUGNYC
rj.linehan@innovuspartners.com
Streamline Your Financial Close
Process with Oracle FCM
Session ID#: 15019

2. Today’s Agenda
■ Today’s Finance Organizations
▪ Goals
▪ Pain Points
■ Financial Close Management Architecture
■ Financial Close
■ Account Reconciliation Manager
■ Q&A

3. Today’s Finance Organizations
What are they up against?
Streamline Your Financial Close Process with
Oracle FCM

4. Finance Organizations of Today
Key Goals of Financial Close Process
■ Improve efficiency and timeliness
■ Strengthen financial governance
■ Increase transparency and reliability
■ Adapt to perpetual change

5. Finance Organizations of Today
Central Challenges of Financial Close Process
■ Inability to improve accuracy of financial reporting
due to lack of visibility
■ Failure to reduce time to complete processing
■ Ever expanding breadth of rules and regulations
from regulatory agencies
■ Shrinking headcounts supporting additional work

6. Finance Organizations of Today
Symptoms of Not Addressing Challenges
■ Inability to accommodate demands for transparency
and consistency
■ Failure to satisfy requirements of regulatory
agencies
■ Lack of capacity to reduce workload of Finance staff

7. Financial Close Process

8. Financial Close Process - Input
Challenges
■ Lack of integrated
systems slows flow
of data
■ Absence of
automated auditing
capabilities prevents
transparency
■ Manual entries cause
inaccuracies and
misalignment

9. Financial Close Process - Process
Challenges
■ Activities unrelated to
close process occur
at critical points
■ Manual intervention
and lack of
communication
creates delays
■ Inability to track
performance and
identify bottlenecks

10. Financial Close Process - Output
Challenges
■ Disconnect between
reports and inputs
leads to confusion
■ Lack of integration and
accuracy between
internal and external
reporting causes
uncertainty among
users
■ Level-of-effort required
to satisfy agency filings
jeopardizes due dates

11. Oracle Hyperion Financial Close Management
Close the Problem with a Business Solution
■ Centralized web-based solution managed by business
users for business users
■ Supports all financial close tasks
▪ Ledger and sub-ledger close
▪ Data loading and mapping
▪ Financial consolidation
▪ Account reconciliation
▪ Internal and external reporting processes
▪ Tasks associated with extended financial close

12. Let’s do a quick poll…
Streamline Your Financial Close Process with
Oracle FCM

13. Oracle Enterprise Performance Management System

14. Oracle Financial Close Suite

15. Oracle Financial Close Management Architecture
Account
Reconciliation
Manager
(ARM)
Close Manager
Core Product
FDMEE
Integrations
Integration Layer
General
Ledger
EPM
Apps
EDW
ApplicationLayer
Data Flow

16. Close Manager
Key Features
■ Task scheduling and management feature to track
and prioritize close tasks
■ Pre-built, web-based dashboards for monitoring
progress of financial close
■ Process automation feature that offers lights-out
support
■ Powerful filtering and ad-hoc reporting capabilities
■ Roll-forward feature to create new calendars based
on prior financial close

17. Close Manager
Process Overview
■ Plan Close Process
■ Initiate Close Process
■ Perform Close Process
■ Complete & Review Close Process

18. Close Manager
Plan Close Process
■ Identify tasks
■ Categorize tasks
■ Align task categories to integrated applications
■ Create template for group of tasks that represent
close process (no calendar)
■ Populate template with tasks

19. Plan Close Process
Task
Template Schedule
Task Type
Application
Integration

20. Plan Close Process – Task Types
■ Direct users to application (End User)
■ Schedule execution of application processes
(Automated)

21. Plan Close Process – Task Types
■ Assign ‘Integration Type’
■ Define ‘Run As’ ID to execute task

22. Integrated Applications (PeopleSoft Financials)
■ PeopleSoft Financials
Integration Pack XML
File
▪ End Users Tasks
▪ System Automated
Tasks
Area Task Name
Task
Type
Define Final Depreciation Run Control E
Execute Final Depreciation Process S
Define Create Accounting Entries Run Control E
Execute Create Accounting Entries Process S
Define Depreciation Close Run Control E
Execute Depreciation Close Process S
Book Expense Accruals E
Enter any adjustment vouchers E
Review and correct vouchers with errors E
Review and correct match exceptions E
Define Open AP Liability Report Run Control E
Execute Open AP Liability Report S
Review Incomplete Deposits E
Resolve Pending Item Posting Errors E
Define Aged AR Trial Balance Run Control E
Execute Aged AR Trial Balance S
Write Off Balances as Appropriate E
Update Doubtful Receivables E
AssetManagementAccountsPayableAccountsReceivable

23. Plan Close Process - Tasks
■ Create from ‘Task Type’
■ Assign task properties

24. Plan Close Process - Templates
■ Define duration in terms of ‘Day 0’
■ Embed other templates (supports one level
of embedding)

25. Close Manager
Initiate Close Process
■ Create schedule
▪ Assign template
▪ Apply calendar dates
▪ Assign other tasks
■ Promote schedule status from pending to open

26. Initiate Close Process - Schedules
■ Assign calendar to close process
■ Change status of schedule (Pending, Open,
Close)

27. Initiate Close Process - Schedules
■ Assign tasks to schedules
■ Change status of schedule (Pending, Open,
Close)

28. Close Manager
Perform Close Process
■ Users perform tasks
▪ Email notification
▪ FCM via Web
▪ FCM via Smart View
■ Approvers review and complete tasks

29. Perform Close Process - Dashboard

30. Perform Close Process – Gantt Chart
■ Track task progress across days
■ View task properties, instructions, and
predecessors

31. Perform Close Process – Task List
■ Customize task list to user preference
■ Sort and filter by task list fields
■ Display select fields

32. Close Manager
Complete & Review Close Process
■ FCM generates close binder
▪ HTML report of close process
▪ Publishable and accessible to users
■ Users, Approvers, and Administrators review close
process and make adjustments

33. FCM Report Binder - Click Me
Complete Close Process – Report Binder

34. Account Reconciliation Manager
Key Features
■ Control over account reconciliation
■ Flexible formats adaptable to each type of account
■ Easy-to-use features for maintaining reconciliation
assignments (mass updates and import capabilities)
■ Seamless integration using Oracle Hyperion Financial
Data Quality Management ERP Integration Adapter
■ Mapping feature to summarize low-level balances to the
reconciliation level
■ Auto reconciliation of approved zero balance accounts
■ Configurable frequencies and unlimited level of approval

35. Account Reconciliation Manager
Process Overview
■ Plan Account Reconciliation Process
■ Initiate Account Reconciliation Process
■ Perform Account Reconciliation Process
■ Complete & Review Account Reconciliation
Process

36. Account Reconciliation Manager
Plan Process
■ Identify accounts to be reconciled
■ Define reconciliation elements for each account
■ Identify users and assign roles
■ Create ‘Formats’ that define reconciliation method
and ensure data collection
■ Create ‘Profiles’ that are assigned ‘Formats’,
currency, workflow, and other attributes

37. Plan Reconciliation Process
Format Profile
Profile
Segment
FrequencyCurrency
Period
Workflow
Recon Type AccountType AccountRecon

38. Plan Reconciliation Process - Format
■ Identify Reconciliation Methods
▪ Account Analysis
▪ Balance Comparison

39. Plan Reconciliation Process - Profile
■ Define Account ID using Profile Segments
■ Assign Format
■ Auto Reconcile
■ Specify Workflow

40. Account Reconciliation Manager
Initiate Process
■ Copy ‘Profiles’ to ‘Periods’ to initiate reconciliations
with start and due dates
■ Load balances from source system
■ Change period status from pending to open

41. Initiate Reconciliation Process – Manage Periods
■ Assign frequency
■ Apply Calendar

42. Account Reconciliation Manager
Perform Process
■ Preparer performs reconciliation
▪ Validate balance
▪ Provide supporting detail
■ Reconciliation is reviewed
▪ One user cannot play both roles for the same
reconciliation
■ Reconciliation is approved

43. Perform Reconciliation Process – ARM Task

44. Account Reconciliation Manager
Complete & Review Process
■ ARM generates close binder
▪ HTML report of close process
▪ Publishable and accessible to users
■ Preparers, Reviewers, Commentators, and
Administrators review close process and make
adjustments

45. Please complete the session
evaluation
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