Upload
finitsolutions
View
103
Download
0
Embed Size (px)
Citation preview
www.finitsolutions.com
Getting the Most out of EPMAn Introduction to Financial Close Manager and Account Reconciliation Manager
August 31th 2012Jason Hampton ([email protected])
www.finitsolutions.com‐ 2 ‐
Finit IntroductionFinit 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
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 4 ‐
We strongly believe that Service + Solutions = Maximum ValueService– 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
www.finitsolutions.com‐ 5 ‐
Finit’s Values
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 7 ‐
About the Presenter
Jay Hampton – [email protected]
Partner with Finit Solutions
Hyperion Consultant since 2004
Based out of Cincinnati, OH
No kids + No pets = No picture
www.finitsolutions.com‐ 8 ‐
Financial Close Manager (FCM) Overview Features FCM Set UpTask PropertiesDemo
Account Reconciliation Manager (ARM) OverviewARM ProcessARM Set UpDemo
Q and A
Agenda
www.finitsolutions.com‐ 9 ‐
Released with EPM 11.1.2.0Part of the EPM SuiteIntegrated with Shared Services and WorkspaceMarketed as Centralized Repository of Tasks and Activities related to Financial Close Process but… it could be used to Track ANY Process
FCM Overview
www.finitsolutions.com‐ 10 ‐
FCM Overview
www.finitsolutions.com‐ 11 ‐
FCM Overview
www.finitsolutions.com‐ 12 ‐
FCM Overview
www.finitsolutions.com‐ 13 ‐
Pre‐Built Dashboards to Monitor StatusAbility to create and re‐use ‘Templates’ of TasksAdd Comments To TasksAttach Supporting Documentation to TasksEmail Alerts for Approaching Due Date or Past Due tasksAbility to Integrate with External ApplicationsCan Import/Export Tasks via Excel
FCM Features
www.finitsolutions.com‐ 14 ‐
Dashboards
www.finitsolutions.com‐ 15 ‐
Dashboards
www.finitsolutions.com‐ 16 ‐
Templates
www.finitsolutions.com‐ 17 ‐
Email Alerts
www.finitsolutions.com‐ 18 ‐
Can integrate with External ApplicationsOracle EBSPeopleSoftHFMPlanning
Currently requires some custom development but Oracle development is working on “easier” set up for integrations
Integrated Tasks
www.finitsolutions.com‐ 19 ‐
Import / Export Via Excel
www.finitsolutions.com‐ 20 ‐
Create a Template(s)Create Tasks in a Template(s)Assign Attributes and Users to TasksCreate Schedules using Template(s)
Can be as Simple/Complex as you wantCan Modify “as you go”Recommend Start Simple and Grow into the Product
FCM Set Up
www.finitsolutions.com‐ 21 ‐
Add Tasks To Templates
www.finitsolutions.com‐ 22 ‐
Task Name / Task IDDescriptionTask TypePriorityStart / End DateDurationAllow Early StartOwner / Assignee
Tasks Set Up ‐ Properties
www.finitsolutions.com‐ 23 ‐
Tasks Set Up ‐ Properties
www.finitsolutions.com‐ 24 ‐
InstructionsCan provide written instructions or “references” to other instructions
QuestionsCan require users to answer
AccessCan add Approvers and/or Viewers
Tasks Set Up
www.finitsolutions.com‐ 25 ‐
Tasks Set Up ‐ Instructions
www.finitsolutions.com‐ 26 ‐
Tasks Set Up ‐ Questions
www.finitsolutions.com‐ 27 ‐
Tasks Set Up ‐ Access
www.finitsolutions.com‐ 28 ‐
Can add Dependent TasksPredecessor 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
www.finitsolutions.com‐ 29 ‐
Tasks Set Up ‐ Predecessors
www.finitsolutions.com‐ 30 ‐
Custom AttributesDateDate and TimeListNumberTrue/FalseUse CaseAmount of Time spent on TaskDepartment That Owns The TaskTask Grouping (Accounting, FP&A, Etc.)
Tasks Set Up
www.finitsolutions.com‐ 31 ‐
Tasks Set Up ‐ Attributes
www.finitsolutions.com‐ 32 ‐
FCM Demo
www.finitsolutions.com‐ 33 ‐
Account Reconciliation ManagerNew Product to Manage and Monitor your Global Account Reconciliation ProcessReleased as part of EPM 11.1.2.2Integrated with Shared Services and WorkspaceRequires ERPi for Data Integration ComponentCan NOT load General Ledger data via FDM
Most likely replacing an excel based solution
ARM Overview
www.finitsolutions.com‐ 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 financialreporting balances
www.finitsolutions.com‐ 35 ‐
Accounting reconciliationsSunday 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
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 37 ‐
Risk of missing accountsNo visibility into the status of completion Incomplete explanationsWhat happens if the balances change? Are reconciliations updated?
Inability to report across reconciliations Risk of lost reconciliations
Risks with Excel Based Account Reconciliations
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 39 ‐
Load Balances
www.finitsolutions.com‐ 40 ‐
ARM Overview – Workflow
Load BalancesLoad Balances
Auto ReconciliationAuto Reconciliation
Email NotificationsEmail Notifications
PreparationPreparation
ReviewReview
Late NoticesLate Notices
MonitoringMonitoring
Auto Reconciliation Zero Balance Accounts Balance Comparison
Accounts
www.finitsolutions.com‐ 41 ‐
Auto Reconciliation
www.finitsolutions.com‐ 42 ‐
ARM Overview – Workflow
Load BalancesLoad Balances
Auto ReconciliationAuto Reconciliation
Email NotificationsEmail Notifications
PreparationPreparation
ReviewReview
Late NoticesLate Notices
MonitoringMonitoring
Email Notifications Sent daily at 6 am Reminders that
reconciliations should begin
www.finitsolutions.com‐ 43 ‐
ARM Overview – Workflow
Load BalancesLoad Balances
Auto ReconciliationAuto Reconciliation
Email NotificationsEmail Notifications
PreparationPreparation
ReviewReview
Late NoticesLate Notices
MonitoringMonitoring
Preparation Configurable Formats Adaptable to each
account type Instructions Attach supporting docs Loadable transactions
www.finitsolutions.com‐ 44 ‐
Preparation – Source Balances
www.finitsolutions.com‐ 45 ‐
Preparation – Explained Balances
www.finitsolutions.com‐ 46 ‐
ARM Overview – Workflow
Load BalancesLoad Balances
Auto ReconciliationAuto Reconciliation
Email NotificationsEmail Notifications
PreparationPreparation
ReviewReview
Late NoticesLate Notices
MonitoringMonitoring
Review Comments Tickmark features Approval and rejection
workflow
www.finitsolutions.com‐ 47 ‐
Review
www.finitsolutions.com‐ 48 ‐
ARM Overview – Workflow
Load BalancesLoad Balances
Auto ReconciliationAuto Reconciliation
Email NotificationsEmail Notifications
PreparationPreparation
ReviewReview
Late NoticesLate Notices
MonitoringMonitoring
Late Notices Sent daily at 6 am Sent only to users who
have missed a deadline Notifications continue
until work is complete
www.finitsolutions.com‐ 49 ‐
Email Reminders / Late Notice
www.finitsolutions.com‐ 50 ‐
ARM Overview – Workflow
Load BalancesLoad Balances
Auto ReconciliationAuto Reconciliation
Email NotificationsEmail Notifications
PreparationPreparation
ReviewReview
Late NoticesLate Notices
MonitoringMonitoring
Monitoring Status of reconciliations Aging analysis Warnings Debit / credit violations Aging violations
www.finitsolutions.com‐ 51 ‐
Monitoring
www.finitsolutions.com‐ 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 ARMOpen Reconciliations to Users
ARM Set Up
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 55 ‐
Profile Set Up ‐ Properties
www.finitsolutions.com‐ 56 ‐
Profile Set Up ‐ Instructions
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 58 ‐
Profile Set Up ‐Workflow
www.finitsolutions.com‐ 59 ‐
Single – All reconciliations done in one common currencyMultiple – 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
www.finitsolutions.com‐ 60 ‐
Profile Set Up ‐ Currency
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 62 ‐
Profile Set Up ‐ Access
www.finitsolutions.com‐ 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
www.finitsolutions.com‐ 64 ‐
Profile Set Up ‐ Access
www.finitsolutions.com‐ 65 ‐
Profile Set Up – History
www.finitsolutions.com‐ 66 ‐
Consistent and Controlled ProcessAudit Trail of Reconciliations Including Drill Through to Source Data
Complete Data LoadsAbility to Map Across Multiple General LedgersAbility to Reconcile Across Multiple CurrenciesAbility to Export / Import Profiles via Excel
Other ARM Features
www.finitsolutions.com‐ 67 ‐
Complete Data Loads
www.finitsolutions.com‐ 68 ‐
Ability to Map Across Multiple General Ledgers
www.finitsolutions.com‐ 69 ‐
Ability to Reconcile Across Multiple Currencies
www.finitsolutions.com‐ 70 ‐
All Profile Properties are in columns, can save as .csv and import
Ability to Import / Export Profiles Via Excel
www.finitsolutions.com‐ 71 ‐
ARM Demo
www.finitsolutions.com‐ 72 ‐
Can be purchased Stand Alone or as part of the Financial Close SuiteHeather Lynds – FCM and ARM Product ManagerBest 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/close‐management/tutorials/index.html
FCM and ARM ‐ Other Info
www.finitsolutions.com‐ 73 ‐
Questions?
Email us for acopy of the slides or
link to the recording.
Finit Contacts
‐> Jason [email protected]
More EPM [email protected]