Streamlining your Close Process with new solutions from ... · PDF fileStreamlining your Close Process with new solutions from Oracle|Hyperion. ... Michelle Pretlow–Master Principal

Streamlining your Close Process

with new solutions from Oracle|Hyperion

FCM - Financial Close Management

DM - Disclosure Management

EAL – Essbase Analytics Link

Michelle Pretlow– Master Principal Solutions Consultant

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planning for the implementation and upgrade of the product features described. It is

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Disclaimer

Sub Ledger CloseGeneral

Ledger CloseData

AssuranceConsolidation

Internal Mgmt Reporting

External Financial Reporting

Filing


The Complete Financial Close SolutionOnly Oracle Can Deliver

Financial

Consolidation

Data

Assurance Disclosure ManagementXBRL/SEC

Financial andMgmt. Reporting

ERP:

Oracle, PSFT,

SAP, Other

Tax

Filing

Financial Close Management

CFO Dashboard

Tax

Calculations

Transactions Reporting

Governance, Risk & Compliance



Ledger CloseData




Filing

Close Sub Ledgers into GL (i.e. AR, AP, FA, etc.)

Perform Reconciliations

• Bank Reconciliations

• Standard Account Recon

• Sub Ledger Recon

Post Accruals

Deliver self service reporting to the organization for performance discussions and plan realignment

Automate external reporting gathering disclosures and financial information

Automate and deliver Edgar & XBRL filings, Statutory filings, Tax, etc.

Gather and validate complete data sets to support all financial reporting needs (i.e. Legal Entity, Segment, Management, Tax, Sustainability Metrics, etc.)

Automate consolidated financial reporting leveraging multiple hierarchies and calculations (i.e. CTA, FASB, KPI’s, FX, Retained Earnings, Topside Entries etc.)

Close Process and Key Activities



Ledger CloseData




Filing

Workflow and Task Management Issues

• Lack of visibility to tasks across financial systems, departments, regions, etc.

• Manual spreadsheets are used to manage the financial close calendar

• ‘Hope’ and email are core to the process

• Account reconciliations are managed manually

• Task management is fragmented and manual


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Oracle Financial Close Management

Feature Overview


TASK MANAGEMENT

PROCESS MONITORING

ACCOUNT RECONCILIATIONS

ACTIVE CALENDAR

Active integration with EPM and ERP systems

Executive Dashboard Views

Centralized web based task management and collaboration

Automation through matching capabilities and integration with all sources

Oracle Financial Close ManagementStreamline the Extended Close Process


Process Monitoring

• Encourages continuous improvement to the close process

• Dashboards and ad-hoc reporting offers instant real time insight into the close processes

• Easily illustrates current process status

• Automatically updates status on process tasks

• Highlights which tasks are at risk or behind schedule


Active Financial Close Calendar

• Details all the tasks required for the financial close process

• Multiple views of close process flow

• Calendar view

• Tasklist view

• Gantt view

• Customizable for each userCalendar view


Task Management

Support multiple task assignment

types

Milestone tasks

Simple end user manual tasks

Integrates with EPM and EBS task

assignments (i.e. AR sub ledger

close to GL)

Complex system automation

Supports task hierarchies,

dependencies and grouping

Tasks can be incorporated into user’s

primary email/calendaring systems

MS Outlook, others


Account Reconciliations

Improve the close by controlling

the account reconciliation process

Automatically identifying reconciling

differences

Integrating all relevant information

into one application regardless of

source

Ensure policy compliance

Manage reconciliation process

Assignment, submission, approval



Oracle Disclosure Management

Features Overview



Ledger CloseData




Filing

Document Management and Creation Issues

• Management and creation of critical documents is manual (Debt Covenants, 10Q/K, Board Package and Presentation, etc.)

• Process for 10Q/K, EDGAR and XBRL are disconnected (error prone)

• Gathering and managing commentary is manual

• Adjustment of financial data is manual

• MS Word documents sent to 3rd party who reformats and files with EDGAR (error prone)

• MS Word files are converted to XBRL by 3rd parties or manually (error prone)


Today: Multiple Disconnected Processes for

10K/10Q, EDGAR and XBRL

XBRL filing is in addition to standard EDGAR/SEC filings. It’s not

a replacement for 10K/10Q.

3rd parties like Bowne, Merrill involved heavily – at a cost!

10K/10Q

SEC’s EDGAR

Etc.

Etc.


Oracle Disclosure Management

Covers the entire process of taking a company’s consolidated results and transforming them into specifically stylized statutory filings

Document creation process manages the entire distributed development of the statutory report

Simple end user experience leverages user’s preferred document application -Microsoft Word

Built-in, extensive XBRL reporting capabilities including full instance document creation and validation

Supports multiple output formats


Document Creation Process

Document life-cycle management

Creation / breaking up into ‘doclets’

Combine multiple documents into master

document

Enables versioning of artifacts

Provides review cycle

Process management

Enables distribution of tasks

Status reporting

Monitor tasks

Notifications

Integration with e-mail system, workspace,

MicroSoft Office


XBRL Reporting

A complete XBRL creation and management solution

Enterprise XBRL mappings

Report tagging - MicroSoft Office or Oracle Hyperion Financial Reports

Metadata tagging – Hyperion Financial Management, Essbase, Hyperion Planning

Taxonomy management including extension and version control

Support for multiple taxonomies

Instance document management

Creation and validation

Comparison between companies


Output will support various regulatory authorities

USGAAP - SEC

IFRS - European Exchanges, Asia

The following output formats are supported for the main document:

PDF

Word

XBRL

HTML

XHTML (in-line XBRL)

EDGAR

XBRL: Just another output format



Oracle EssbaseAnalytics Link

Features Overview

Seamless integration of HFM with Essbase

Real-time or On Demand Custom Financial Analytics

Extending HFM with zero impact on the HFM servers

More users, more reports, bigger queries

Simple and automated implementation

Low cost of implementation and ownership

Oracle owns the integration

Standard part of the EPM platform

Oracle Essbase Analytics Link for HFM

Financial

Consolidation

Data

Assurance

ERP:

Oracle, SAP,

PSFT, Other

Essbase

Financial Reporting

CFO Dashboard

Essbase

Analytics Link

Transactions Reporting

Management Reporting

Transparent, Real-Time Integration

HFMUser

EssbaseUser

FCM - Financial Close Management

DM - Disclosure Management

EAL – Essbase Analytics Link

Michelle Pretlow– Master Principal Solutions Consultant

Questions

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Streamlining your Close Process with new solutions from ... · PDF fileStreamlining your Close Process with new solutions from Oracle|Hyperion. ... Michelle Pretlow–Master Principal