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Marco Burrichter (Hyperion) bespreekt de integratie van financiële data in een Business Intelligence Platform. Nieuwe software op dit gebied maakt het mogelijk voorheen strikt gescheiden activiteiten zoals managementreportages, analysemogelijkheden en planning vanuit één plaats toegankelijk te maken. Data en proces worden transparant. Waar voorheen door een gebrek aan standaard invoer- en verwerkingsmethodes en audit-trails de betrouwbaarheid van financiële data niet gegarandeerd kon worden, kan met financieel data management iedere stap verantwoord worden.
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Event: DDMA DQ Dag
Thema: Datakwaliteit
Spreker: Marco Burrichter - Hyperion
Datum: 12 september 2006 – Fortis NV, Utrecht
www.ddma.nl
Integration of Financial Data
Marco BurrichterPrincipal Technical Consultant
Hyperion
Copyright © 2006, Hyperion. All rights reserved. 2
Over 400 Clients - All References
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Financial Data Quality Management
Transparency
CompletenessConsistency / InterpretationMapping Issues
Time Constraints
Balanced Files / Data Quality
Manual Keying Errors
Auditability / Accountability
CommunicationTechnical Issues
Points of Failure:
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FDM
Saves Time Reduces ComplianceCosts
Puts ConfidenceIn the Numbers
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Data Quality for Success
Business User Solution— Global solution deployed and maintained by business analysts— Complex mapping in an easy to use guided workflow process
Faster Everything— Eliminate bottlenecks & improve communication— Deployments and migrations to new applications— Drive Down Close cycles dramatically
Visibility/Transparency for Confidence— Audit trail— Map changes — Data quality checking— Error identification, notification, and investigation
Compliance Support For SOX— Deliver a standard, defined and repeatable process— Subject each user, all actions, and all data to standardization and key internal
controls— SOX 302 Sub Certifications and 404 Assessments
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FDM Eliminates the Points of Failure
— Balance Files / Data Quality— Check report— Audit reports for investigation
— Completeness— Journal entries— Check report— Validate mapping step
— Consistency / Interpretation— Visibility - account chase report
— Auditability / Accountability— Log of all significant activity i.e. map change log— Account chase / audit reports— Process monitor— Conversion rule accessible in drill down
—Communication—Immediate feedback to end users—Text and supporting document attachment—Entire process completed without coordinationwith IT for support
—Technical Issues—Out of the box, standard method for all users—Finance supported
— Time Constraints—Immediate Feedback to End Users (4 fish)—Error investigation ability (trial balance / audit reports)—Audit trail into all data (trial balance / audit reports)—Simple GUI
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Key Deliverables
STANDARD DEFINEDREPEATABLE PROCESS
DATACOLLECTION
DATATRANSFORMATION
DATAVALIDATION
INTERNAL CONTROLSAUDIT TRAIL
VISIBILITYTRANSPARANCY
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Standard Defined Repeatable Process
The only “application approach” to integrationStandard processes first step to complianceEase of use critical success factor
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Data Collection
Read any file in any format from any system — GL Trial Balance Reports— Flat files— Open Database sources
Business user responsibilityNo manual manipulation
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Data Transformation
Cleansed and standardized to applicationsStored in a standard repositoryPowerful mapping tables allow for mapping up to 28 dimensionsHandles very simple maps or the most complex requirements
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Data Validation
CompletenessReasonablenessAccuracyTie out data between HFM and PlanningCan be specific for each location
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Internal Controls Audit Trail
Log of all significant eventsBusiness user accountabilitySupport for Sarbanes 302 sub certification Auditors love it – (external and internal)
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FDM Corporate Governance
302- CEO and CFO Review Certification/Monitoring
Upstream CertificationTransparency, Completeness, Accuracy, Accountability, & Audit Red Flag Exception ReportingDocument Attachment & ArchivalRole Based Security
404- Assessment RepositoryCentral Controls RepositoryMaintaining Controls FrameworkAssessing Effectiveness of the Controls and Processes in the FrameworkAccommodates the COSO Framework-Acceptable Framework per SEC
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Key Compliance Issues Addressed
Hyperion Custom Dimensions, Value Dimensions, Intercompany Dimensions and with UpStream, complete combined audit trail to source details
Clear audit trails from source to 10K\10Q (2003)
SAS99
FDM – That’s what it’s all about!10Q in 40 days moving to 35, 10K in 75 days moving to 60 (2005)
Accel. Filings
Hyperion Financial Management “What If”capabilities
Pro-forma reconciliationsOff-balance sheet trans. (2003)
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Hyperion Financial Management, Hyperion BI Platform
Rapid disclosure of material changes –“Real Time” reporting (Mar 2004)
409
1. Close and Reporting Controls and Audit Trails2. FDM 404 COSO Controls Assessment Repository
Annual assessment of effectiveness of internal control and COSO Compliance (Dec 2004)
404
FDM Hierarchical Certification Questionnaires, Audit Review Section, Process Management, Doc Attachments, Cell Text
Quarterly certification of financial statements (2002)
302
FDM SolutionRequirement/Eff. DateSect.
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Visibility Transparency
Visibility into both the data and processes80+ out of the box reports to allow different views of the data Drill Down from Source to ReportA true differentiator
