Transcript
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Getting the Most out of EPMAn Introduction to Financial Close Manager and Account Reconciliation Manager

August 31th 2012Jason Hampton ([email protected])

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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

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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

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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

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Finit’s Values

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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

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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 

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Financial Close Manager (FCM) Overview Features FCM Set UpTask PropertiesDemo

Account Reconciliation Manager (ARM) OverviewARM ProcessARM Set UpDemo

Q and A

Agenda

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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

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FCM Overview

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FCM Overview

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FCM Overview

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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

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Dashboards

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Dashboards

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Templates

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Email Alerts

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Can integrate with External ApplicationsOracle EBSPeopleSoftHFMPlanning

Currently requires some custom development but Oracle development is working on “easier” set up for integrations

Integrated Tasks

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Import / Export Via Excel

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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

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Add Tasks To Templates

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Task Name / Task IDDescriptionTask TypePriorityStart / End DateDurationAllow Early StartOwner / Assignee

Tasks Set Up ‐ Properties

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Tasks Set Up ‐ Properties

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InstructionsCan provide written instructions or “references” to other instructions

QuestionsCan require users to answer

AccessCan add Approvers and/or Viewers

Tasks Set Up

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Tasks Set Up ‐ Instructions

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Tasks Set Up ‐ Questions

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Tasks Set Up ‐ Access

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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

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Tasks Set Up ‐ Predecessors

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Custom AttributesDateDate and TimeListNumberTrue/FalseUse CaseAmount of Time spent on TaskDepartment That Owns The TaskTask Grouping (Accounting, FP&A, Etc.)

Tasks Set Up

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Tasks Set Up ‐ Attributes

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FCM Demo

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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

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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

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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

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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

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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

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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

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Load Balances

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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

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Auto Reconciliation

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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

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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

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Preparation – Source Balances

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Preparation – Explained Balances

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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

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Review

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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

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Email Reminders / Late Notice

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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

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Monitoring

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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

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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

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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

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Profile Set Up ‐ Properties

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Profile Set Up ‐ Instructions

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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

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Profile Set Up ‐Workflow

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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

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Profile Set Up ‐ Currency

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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

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Profile Set Up ‐ Access

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Custom Attributes Allow for different ways to Group or Track Reconciliations GL System Legal Entity Geographical Location Shared Service Center

Profile Set Up – Attributes

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Profile Set Up ‐ Access

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Profile Set Up – History

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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

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Complete Data Loads

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Ability to Map Across Multiple General Ledgers

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Ability to Reconcile Across Multiple Currencies

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All Profile Properties are in columns, can save as .csv and import

Ability to Import / Export Profiles Via Excel

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ARM Demo

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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

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Questions?

Email us for acopy of the slides or

link to the recording.

Finit Contacts

[email protected]

‐> Jason [email protected]

More EPM [email protected]


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