1. 1. www.finitsolutions.com GettingtheMostoutofEPM AnIntroductiontoFinancialCloseManagerand AccountReconciliationManager August31th 2012 JasonHampton(jhampton@finitsolutions.com)
2. 2. www.finitsolutions.com 2 FinitIntroduction FinitSolutionsspecializesinconsultingservicesintheOracleHyperionEnterprise PerformanceManagementSolutionssuiteofproducts: Financial Close and Consolidation FinancialManagement(HFM) HyperionEnterprise FinancialCloseManagement DisclosureManagement AccountReconciliationModule Integration FinancialDataQualityManagement(FDM) OracleDataIntegrator(ODI) EnterprisePerformanceManagement Architect(EPMA) DataRelationshipManagement(DRM) Other(ERPi,EIS,etc.) Planning and Business Intelligence Planning CorePlanning Modules(Workforce,CapEx) Essbase(ASO/BSO) Reporting Tools FinancialReporting SmartView/EssbaseExcelAddIn OBIEE FinancialManagementAnalytics (OFMA) WebAnalysis
3. 3. www.finitsolutions.com 3 FinitServices Finitsconsultingservicescoverabroadrangeofimplementationandpost implementationoptions. Finit Solutions: Implementation Services Fullcycleimplementations DiscoveryandRequirements GlobalDesign DetailedDesignandBuild TestingandTraining Deploy InfrastructureServices DataServices(historicaldata,GLdata integration) Project/ProgramManagement ProductUpgrades Redesign/Enhancements Finit Answers: Post Implementation Support AccesstoHyperionSMEs(Dedicated supportteamandavailableconsultants) CustomerServiceFocus TimeandMaterialsSupport Flexiblesupportpackagestailoredto clientneeds GuaranteedResponseTimes TechnicalandAdmin/Functional Support Shorttermremotestaffaugmentation services
4. 4. www.finitsolutions.com 4 WestronglybelievethatService +Solutions =MaximumValue Service Consultantcompensationmodelisbaseduponclientsatisfactionwith consultantswork,nothowmanyhourstheycharge. FinithasnoexternalownersandFinitpartnersareinvolvedineveryfull cycleimplementation. Finitusesitsownemployees,notcontractors. Solutions FinitconsultantsareHyperionproductexpertswhoenjoydesigning,building anddeployinggreatsolutions,applicationsandprocesses. FinitworkscloselywithOracleHyperiondevelopmentonproductstrategy andbetatesting. Finitconsultantsreceive2weeksofproduct/functionaltrainingayear. FinitAnswers providessupportservicesonapayasyouusemodel. FinitsFocus
5. 5. www.finitsolutions.com 5 FinitsValues
6. 6. www.finitsolutions.com 6 Ourclientserviceapproachhasledto100%customer satisfaction forevery Finitclient (164andcounting)for everyOracleHyperionproject (over280andcounting). FinitsClientService
7. 7. www.finitsolutions.com 7 AboutthePresenter JayHampton jhampton@finitsolutions.com PartnerwithFinitSolutions HyperionConsultantsince2004 BasedoutofCincinnati,OH Nokids+Nopets=Nopicture
8. 8. www.finitsolutions.com 8 FinancialCloseManager(FCM)Overview Features FCMSetUp TaskProperties Demo AccountReconciliationManager(ARM)Overview ARMProcess ARMSetUp Demo QandA Agenda
9. 9. www.finitsolutions.com 9 ReleasedwithEPM11.1.2.0 PartoftheEPMSuite IntegratedwithSharedServicesandWorkspace MarketedasCentralizedRepositoryofTasksand ActivitiesrelatedtoFinancialCloseProcess but itcouldbeusedtoTrackANY Process FCMOverview
10. 10. www.finitsolutions.com 10 FCMOverview
11. 11. www.finitsolutions.com 11 FCMOverview
12. 12. www.finitsolutions.com 12 FCMOverview
13. 13. www.finitsolutions.com 13 PreBuiltDashboardstoMonitorStatus AbilitytocreateandreuseTemplatesofTasks AddCommentsToTasks AttachSupportingDocumentationtoTasks EmailAlertsforApproachingDueDateorPast Duetasks AbilitytoIntegratewithExternalApplications CanImport/ExportTasksviaExcel FCMFeatures
14. 14. www.finitsolutions.com 14 Dashboards
15. 15. www.finitsolutions.com 15 Dashboards
16. 16. www.finitsolutions.com 16 Templates
17. 17. www.finitsolutions.com 17 EmailAlerts
18. 18. www.finitsolutions.com 18 CanintegratewithExternalApplications OracleEBS PeopleSoft HFM Planning Currentlyrequiressomecustomdevelopmentbut Oracledevelopmentisworkingoneasiersetup forintegrations IntegratedTasks
19. 19. www.finitsolutions.com 19 Import/ExportViaExcel
20. 20. www.finitsolutions.com 20 CreateaTemplate(s) CreateTasksinaTemplate(s) AssignAttributesandUserstoTasks CreateSchedulesusingTemplate(s) CanbeasSimple/Complexasyouwant CanModifyasyougo RecommendStartSimpleandGrowintothe Product FCMSetUp
21. 21. www.finitsolutions.com 21 AddTasksToTemplates
22. 22. www.finitsolutions.com 22 TaskName/TaskID Description TaskType Priority Start/EndDate Duration AllowEarlyStart Owner/Assignee TasksSetUp Properties
23. 23. www.finitsolutions.com 23 TasksSetUp Properties
24. 24. www.finitsolutions.com 24 Instructions Canprovidewritteninstructionsorreferencesto otherinstructions Questions Canrequireuserstoanswer Access CanaddApproversand/orViewers TasksSetUp
25. 25. www.finitsolutions.com 25 TasksSetUp Instructions
26. 26. www.finitsolutions.com 26 TasksSetUp Questions
27. 27. www.finitsolutions.com 27 TasksSetUp Access
28. 28. www.finitsolutions.com 28 CanaddDependentTasks PredecessorType FinishtoStart(Default) Thetaskstartsassoonasthe predecessortaskcompletesorfinisheswithwarning. FinishErrortoStart Thetaskstartsassoonasthepredecessor taskcompletes,evenitisinerror. FinishErrortoFinish Thetaskcompletesassoonasthe predecessortaskcompletes,evenitisinerror. FinishtoFinish ThetaskcannotbemarkedasCompleteuntil thepredecessortaskhasbeenmarkedascomplete. TasksSetUp Predecessor
29. 29. www.finitsolutions.com 29 TasksSetUp Predecessors
30. 30. www.finitsolutions.com 30 CustomAttributes Date DateandTime List Number True/False UseCase AmountofTimespentonTask DepartmentThatOwnsTheTask TaskGrouping(Accounting,FP&A,Etc.) TasksSetUp
31. 31. www.finitsolutions.com 31 TasksSetUp Attributes
32. 32. www.finitsolutions.com 32 FCMDemo
33. 33. www.finitsolutions.com 33 AccountReconciliationManager NewProducttoManageandMonitoryourGlobal AccountReconciliationProcess ReleasedaspartofEPM11.1.2.2 IntegratedwithSharedServicesandWorkspace RequiresERPiforDataIntegrationComponent CanNOTloadGeneralLedgerdataviaFDM Mostlikelyreplacinganexcelbasedsolution ARMOverview
34. 34. www.finitsolutions.com 34 WhatareAccount Reconciliations? Thetermaccountreconciliationsmeans differentthingstodifferentpeople Ifyoutalktoa: Theywillthinkyouare talkingabout: CashManager Reconciliationof disbursement accounts Operationsemployee Reconciliationofcore operationalsystems ControllerorGeneral LedgerManager Verificationoffinancial reportingbalances
35. 35. www.finitsolutions.com 35 Accountingreconciliations Sunday 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
36. 36. www.finitsolutions.com 36 Accountssubjecttoaccountingreconciliation BalanceSheetAccounts,aspartofthebalancesheetreconciliationprocess Consolidationsystemaccounts,aspartoftheconsolidationsystem reconciliationprocess LocalGAAP/statutoryaccounts,aspartofLocalGAAP/statutory reconciliationprocess P&Laccounts,aspartoftheP&Lreconciliationprocess Keycharacteristicsofaccountingreconciliations Theyareprocessspecific Focusedonperiodendbalances Generallymanagedbycorporateaccountingorsharedservices Performedbydivisionalaccountantsworldwide Mayusereconciliationcompliancesoftware Accountingreconciliations
37. 37. www.finitsolutions.com 37 Riskofmissingaccounts Novisibilityintothestatusofcompletion Incompleteexplanations Whathappensifthebalanceschange?Are reconciliationsupdated? Inabilitytoreportacrossreconciliations Riskoflostreconciliations RiskswithExcelBasedAccount Reconciliations
38. 38. www.finitsolutions.com 38 ARMOverview Workflow LoadBalancesLoadBalances AutoReconciliationAutoReconciliation EmailNotificationsEmailNotifications PreparationPreparation ReviewReview LateNoticesLateNotices MonitoringMonitoring ERPiDataloadadaptors providedfor: OracleEBusinessSuite11i,12 OracleFusionFinancials PeopleSoftEnterpriseFinancial Management9.0,9.1 JDEdwardsEnterpriseversion 9.0 SAPERPFinancial4.7c,ECC6.0 enhancementpack4.0+ FlatFiles Newwith 11.1.2.2
39. 39. www.finitsolutions.com 39 LoadBalances
40. 40. www.finitsolutions.com 40 ARMOverview Workflow LoadBalancesLoadBalances AutoReconciliationAutoReconciliation EmailNotificationsEmailNotifications PreparationPreparation ReviewReview LateNoticesLateNotices MonitoringMonitoring AutoReconciliation ZeroBalanceAccounts BalanceComparison Accounts
41. 41. www.finitsolutions.com 41 AutoReconciliation
42. 42. www.finitsolutions.com 42 ARMOverview Workflow LoadBalancesLoadBalances AutoReconciliationAutoReconciliation EmailNotificationsEmailNotifications PreparationPreparation ReviewReview LateNoticesLateNotices MonitoringMonitoring EmailNotifications Sentdailyat6am Remindersthat reconciliationsshould begin
43. 43. www.finitsolutions.com 43 ARMOverview Workflow LoadBalancesLoadBalances AutoReconciliationAutoReconciliation EmailNotificationsEmailNotifications PreparationPreparation ReviewReview LateNoticesLateNotices MonitoringMonitoring Preparation ConfigurableFormats Adaptabletoeach accounttype Instructions Attachsupportingdocs Loadabletransactions
44. 44. www.finitsolutions.com 44 Preparation SourceBalances
45. 45. www.finitsolutions.com 45 Preparation ExplainedBalances
46. 46. www.finitsolutions.com 46 ARMOverview Workflow LoadBalancesLoadBalances AutoReconciliationAutoReconciliation EmailNotificationsEmailNotifications PreparationPreparation ReviewReview LateNoticesLateNotices MonitoringMonitoring Review Comments Tickmarkfeatures Approvalandrejection workflow
47. 47. www.finitsolutions.com 47 Review
48. 48. www.finitsolutions.com 48 ARMOverview Workflow LoadBalancesLoadBalances AutoReconciliationAutoReconciliation EmailNotificationsEmailNotifications PreparationPreparation ReviewReview LateNoticesLateNotices MonitoringMonitoring LateNotices Sentdailyat6am Sentonlytouserswho havemissedadeadline Notificationscontinue untilworkiscomplete
49. 49. www.finitsolutions.com 49 EmailReminders/LateNotice
50. 50. www.finitsolutions.com 50 ARMOverview Workflow LoadBalancesLoadBalances AutoReconciliationAutoReconciliation EmailNotificationsEmailNotifications PreparationPreparation ReviewReview LateNoticesLateNotices MonitoringMonitoring Monitoring Statusofreconciliations Aginganalysis Warnings Debit/creditviolations Agingviolations
51. 51. www.finitsolutions.com 51 Monitoring
52. 52. www.finitsolutions.com 52 IdentifyAccountsandDataSourcestoReconcile Note:LevelofAccountReconciliationisVeryImportant! GLAccountLevel?GLAccount+CostCenterLevel?GLAccount +LegalEntityLevel?Etc. CreateAccountReconciliationProfilesandassign attributesandReconciliationPreparersandReviewers ConfigureERPitoMapandLoadGeneralLedgerDatato Profiles CreateMonthlyReconciliationsfromProfiles LoadGeneralLedgerDataintoARM OpenReconciliationstoUsers ARMSetUp
53. 53. www.finitsolutions.com 53 TwoTypesofReconciliations (ARMFormats) BalanceComparison Automatedcomparisonofsourcesystem andsubsystembalances Accountspayable Accountsreceivable Inventory FixedAssets AccountAnalysis Justificationofthesourcesystembalance Prepaids Accruals Intangibles Anyotheraccountwherethebalanceisnot derivedfromasubsystem
54. 54. www.finitsolutions.com 54 AccountID Account Company/Account CostCenter/etc. Name/Description RiskRating High,Medium,Low Format BalanceCompare AccountAnalysis Tracker NormalBalance Debit/Credit AutoReconciliation Yes/No ManuallyEnterBalances Yes/No ProfileSetUp Properties
55. 55. www.finitsolutions.com 55 ProfileSetUp Properties
56. 56. www.finitsolutions.com 56 ProfileSetUp Instructions
57. 57. www.finitsolutions.com 57 Preparer Frequency StartDayOffset Duration CurrentlyLimitedtoIndividualbutnextPSUtosupportGroups Reviewers Canaddasmanyasyouwant Frequency Ex.1ReviewerforMonthly,2forQuarterly Duration ProfileSetUp Workflow
58. 58. www.finitsolutions.com 58 ProfileSetUp Workflow
59. 59. www.finitsolutions.com 59 Single Allreconciliationsdoneinonecommoncurrency Multiple ifreconciliationsaredoneinmorethanone currency Entered: Balancesandtransactionsinthecurrenciesinwhich theyoccurred Functional:Balancesandtransactionsinthecurrency associatedwiththeentitythatownstheaccount Reporting:Balancesandtransactionsinthecurrencyusedfor systemwidereporting Canenable/disableperProfile ProfileSetUp Currency
60. 60. www.finitsolutions.com 60 ProfileSetUp Currency
61. 61. www.finitsolutions.com 61 Commentators CanviewandaddcommentstoReconciliations SupportsUsersorGroups Viewers CanviewbutnotcommentonReconciliations SupportsUsersorGroups ProfileSetUp Access
62. 62. www.finitsolutions.com 62 ProfileSetUp Access
63. 63. www.finitsolutions.com 63 CustomAttributes AllowfordifferentwaystoGrouporTrackReconciliations GLSystem LegalEntity GeographicalLocation SharedServiceCenter ProfileSetUp Attributes
64. 64. www.finitsolutions.com 64 ProfileSetUp Access
65. 65. www.finitsolutions.com 65 ProfileSetUp History
66. 66. www.finitsolutions.com 66 ConsistentandControlledProcess AuditTrailofReconciliationsIncludingDrillThroughto SourceData CompleteDataLoads AbilitytoMapAcrossMultipleGeneralLedgers AbilitytoReconcileAcrossMultipleCurrencies AbilitytoExport/ImportProfilesviaExcel OtherARMFeatures
67. 67. www.finitsolutions.com 67 CompleteDataLoads
68. 68. www.finitsolutions.com 68 AbilitytoMapAcrossMultiple GeneralLedgers
69. 69. www.finitsolutions.com 69 AbilitytoReconcileAcross MultipleCurrencies
70. 70. www.finitsolutions.com 70 AllProfilePropertiesareincolumns,cansaveas.csvand import AbilitytoImport/ExportProfiles ViaExcel
71. 71. www.finitsolutions.com 71 ARMDemo
72. 72. www.finitsolutions.com 72 CanbepurchasedStandAloneoraspartofthe FinancialCloseSuite HeatherLynds FCMandARMProductManager BestPMatOracle! Veryhandsonandcommittedtocustomerssuccess FCMandARMRecordedTrainingAvailableon OTN: http://www.oracle.com/technetwork/middleware/clos emanagement/tutorials/index.html FCMandARM OtherInfo
73. 73. www.finitsolutions.com 73 Questions? Emailusfora copyoftheslidesor linktotherecording. FinitContacts insights@finitsolutions.com >JasonHampton jhampton@finitsolutions.com 216.870.3657 MoreEPMQuestions? ask@finitsolutions.com