hfm overview 6

Hyperion Financial Management (HFM) Training November 2009

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Table of Contents

Overview of Financial ConsolidationWhy HFM? EPMA vs. Classical Comparison Classic HFM Overview EPMA OverviewFinancial Consolidation Using HFM Building Application Running Consolidation Viewing ResultsAppendices Appendix A: Access control through Shared Services Appendix B: Starting HFM(checklist) Appendix C: HFM Resources

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Financial ConsolidationFinancial consolidation and reporting is the process of aggregating an organization's financial performance across its businesses to provide the consolidated view, dealing with accounting challenges as currency translation, revaluation, intercompany eliminations and minority interests. Consolidation is the process of Gathering data from dependent entities and Aggregating the data to parent entities. After you enter or load data into base entities, you perform a consolidation to aggregate the data through the organization. As data consolidates, the system performs following activities - currency translation - Intercompany eliminations- calculation for derived accounts using rules

After Consolidation , the consolidated results are available at every level of hierarchy in the organization. These results enable mangers to take better decision at each and every level of Organization.

What To Do First, What To Do Next, What To DoConstructing The Path Forward A Discussion With Dan Kramer

January 28, 2002

K:/INDUSTRY/FS/DEUTSCHE/BOZZI/SAP/DB SAP PURSUIT PLAN_V4.PPT

Deloitte Consulting, 2002

The purpose of this document is to translate PCAMs overarching challenges into bite-size chunks that can be addressed in a logical, results-oriented fashion. A broad toolkit exists to address your challenges the tools you choose, your management style, and where you drive change in the organization are all part of an integrated solution. Together your choices set the tone for the organization and determine how quickly and broadly you can achieve results.. Given our peripheral view of PCAMs current focus, this document provides an overview of key action steps over the next 3-4 months, as well as over the longer-term. The document is divided into five primary sections.IntroductionOverview of Market PerspectiveIntroduction of Levers And ToolsAlternative Management StylesTimeline and Approach



Analysts, Competitors, And Employees Are Swarming With Opinions On How PCAM Should Right Itself The Combined Noise Level And Complexity Of Designing A Workable Solution Are Muddying The Waters

In the near-term, focus on and celebrate cost reduction analysts are demanding it. Simultaneously, kick off projects to size and scope your clients (client & product profitability), set a culture of metric-based management, and build a powerful blueprint to communicate strategic direction, core values and key selling pointsOver the longer-haul, invest in understanding the nuances of your clients (attitudinal and behavioral segmentation) forms a solid foundation to calibrate and mold your business around the clientDrives meaningful product mix and distribution channel decisions (what to keep, build, buy or eliminate) Aligns and right-costs your operations and service model Arms you with the facts (e.g., options to extend your franchise and deliver global capability / local delivery)Stick to logic lean towards a No Frills / Low Cost mentality initially but rapidly migrate to a Right Things to Right People approach as soon as change takes hold and is embraced. Management style forms a critical element of success (sets and solidifies culture based on direction, pace and scope of change) but may require a sizable game-shift There is no single, right way there are right outcomes. Once you decide to start putting your stamp on paper, speed, decisiveness, and a clear roadmap will be mandatory. Tangible, visible results will be expected within 4 - 6 months



The Critical-Path To Pinpointing PCAMs Pain-Points And Improving Performance Combines Four Unique, Yet Highly Integrated Building Blocks

Objectives will be driven by combination of market dynamics and near and longer-term businesses objectivesRequires understanding of pain points / growth drivers at all levels of the organization

Determine critical path to drive improvement to bottom-lineCombines understanding of landscape , objectives and current state to determine where and when to drive change

Set the stage for direction, pace, and scope of solutionsMust be aligned with overall focus of PCAM, as well as portfolio of individual businesses

Identify core levers that drive cost reduction and revenue enhancement both in the near and longer-termProvides tailored toolkit for base-lining, diagnosing and addressing root-cause issues

- Levers & Tools (What) -(Business Model v Operating Model)

- Focus (Why) -(Revenue v Cost v Control)

- Management Styles (How) - (No Frills Low Cost v All Things to All People)

- Roadmap (When & Where) -(Logical v Time-Sequenced)

A detailed understanding of PCAMs overarching objectives and pain points across the organization

defines which tactics you will use,...

how aggressively,

.and when and where you will use them to successfully drive change across the organization


Comment And Arm Chair Quarterbacking Regarding PCAM Is Rampant In The Marketplace Muddling The Picture Of What To Do...

Distribution

Client

Products & Services

Funding & Cost Management

Technology & Operations

Organization

BUT, if you boil it all down, you get . . .

Are your products and services appropriately aligned to customers?Increased competition is coming European pension reform is estimated to increase assets by 30 to 40bn Euros by 2008

How do you most effectively source the many products you need build vs. buy?The industry is aggressively mixing manufactured vs sourced products open architecture

Back-office changes, open architecture, and multi-channel support increasing technology / dev costsAggressively rationalizing non-core systems & ops? Employing shared service models?

Are, or will, your large IT investments pay off, are the priorities correct?There has been heavy investment to achieve local market / global capability and scale others have failed here

Popular belief is PB / PWM remains an attractive market with high returns How is DB PB addressing facts lowest profit margin and AUM per emp / highest cost-to-income ratio/ heavy transaction bias?

US wealth mgmt competition will continue to migrate to EuropeUS services cost 30% less to provide than the European equivalent attractive market, competitive advantage

While Deutsches IT & Ops are centrally coordinated for the PB from GenevaCould this be further centralized to squeeze greater savings across PCAM?

Cost reduction is paramount right now, but can / are you hitting the right areas?Analysts say your real cost issue are in non-staff costs; just laying people off wont scratch their itch

Demand for choice, advice & complex sales requires you to know your clientIs DB selectively targeting desired customer segments / products (if any) it wants to mfr?

Components of the value chain are globalizing (e.g., custody and execution)Which components is DB considering selectively / entirely outsourcing or growing

Brand Mgmt coupled with design of services will be required to winThe largest global wealth mgmt player controls only 2% of the mkt; the top 20 players control only 12%

PCAM will experience the brunt of banks staff reduction in 2002 and 2003How do you ensure right skill sets, productivity levels, workforce (e.g., contractor vs employee) are maintained?

Is PCAM aggressively innovating to reduce cost of client acquisition (eg ZFS)?Competitors are employing cross-disciplinary teaming, internal pay-back incentives and alliances (Merrill / HSBC)

Simple duplication of offline distribution online doesnt cut itCiti PB to offer online advisory services, account aggregation, institutional research, IPOs and demos

A large portion of retail branches yield revenues that do not cover costsIs RB focused on value diluters over-servicing, low-value/high volume transactions, processing vs. external marketing?

Simple economic segmentation wont cut it!Customer preferences vary widely by region: France & Germany 50% swayed by advice; UK 60% by discretionary mgmt; US 50% by execution

You MUST cut cost, but simultaneously remain competitive According to a recent Private Client study 90% of CEOs plan to focus on differentiation vs. cost leadership

Consistency and robustness of process & offerings will be requiredHigh Net Worth customers continue to push for greater flexibility and choice across products & channels

Creativity in Supply Chain Mgmt will increase capability & align/manage costOutsourcing non-differentiating services and re-sale of products will continue to increase

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Focus (Why)

Levers & Tools (

What

)

(Business Model v Operating Model)

Management Styles (

How

-

(No Frills Low Cost v Value Play v All Things to All People)

Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Levers & Tools (

What

)


Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Focus (Why)



Six Key Levers Allow You To Deconstruct Complex Business Problems, Fine-tune Elements Of Your Business And Operating Models, And Ultimately Construct A Best-fit Solution

DistributionCombined channels are broader, deeper, attain greater mind share, significantly grow cross-selling. Complementary nature creates extraordinary challenges to manage within and across the organization

Technology & OperationsA focus on deconstructing unique environments down to the lowest common denominator not only identifies overlaps determines organizational level and direction to drive change

OrganizationRestructuring is the roadmap to increasing effectiveness and eliminating fat; BUT fast & furious integration is the lynchpin to achieving it (cut fat / build long-lasting flexibility / support distinct client needs)

Funding & Cost ManagementDiscipline creates the knowledge to take action ensure metrics, policies & procedures are meaningful, transparent, and enforced

ClientDrives or impacts all decisions made across the organization - sets tone for targeting delivery, product mix, pricing, service levels, etc, etc, etc

Products & ServicesThe root cause of cost / complexity across your organization. Plug n play standardization and reuse must be combined with effective, targeted bundling to create edge in the market

Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Focus (Why)

Levers & Tools (What)



Client

Drives or impacts all decisions made across the organization - sets tone for targeting delivery, product mix, pricing, service levels, etc, etc, etc

Levers

Understand market share by segment, product, distribution channel key to getting fair share of the market and assessing client acquisition opportunities / targets for growth New precedence to harmonize a broad range of client data (including creating a single client view / identifier). Measure but extend beyond client profitability segment based on lifetime value, behaviour and economics of client Identify innovative ways to acquire new clients on the cheap e.g., screen IPO / AM candidates for PB services, co-brand, leverage affinity marketing, etc. Targeted marketing and communication of brand identity a powerful management tool to reduce drag of market entry, retain and grow client loyalty, and rally the troopsFine-tune internal vehicles that foster up-sell & cross-sell opportunities (e.g., single client view)

Market analysis & sizingClient segmentation (behavioural / value, economic, etc.)Client profitability Acquisition strategy Brand & identity managementSingle client view

Sample Tools

Objectives / Key Considerations

Business Model Levers & Tools Define What PCAM Will Deliver...

Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Focus (Why)


Client

Drives or impacts all decisions made across the organization - sets tone for targeting delivery, product mix, pricing, service levels, etc, etc, etc



Operating Model Levers & Tools Determine How Effectively And Cost Efficiently Delivery Will Be Achieved

Levers

Sample Tools

Objectives / Key Considerations

Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Focus (Why)




Calibration Measures

No Frills/ Low Cost

Right Things to Right People

All Things To All People

Fast and furious integration (no remorse / limited conversation)Aggressive buy vs. build mentality Simple segmentation (economics-based)Standardized business architecture

Growth objectives balanced by heavy use of metrics to monitor costs & ensure payoffBuy v build driven by most effective in classProfitability analysis of Client, Product & Dist.Business architecture aligned to customized v commoditized nature of business

Heavy investment in innovation, customization is normal - customer-touch generally highChannels and products often offered to all clients cost is not the driverVery loosly coupled business architecture businesses given free reign

Approach

Key Considerations

Easily understood and visible to analysts Sustainable cost reduction must drive focusWill require mentaility shift e.g, signficiant vendor management playFast follower mentality in terms of go-to-market approach

Analysts / market value innovation / service but not at expense of cost management Way of working is cultural requires discipline and consistency to achieveIntegration & coupling are appropriate for given objectives

Visibility of investment pay-off in market keyRequires sophisticated data mining / universal CIF and CRM approachValue-based segmentation across BUs / channels dominates decision-makingInnovation can breed significant share of mind

Management Style Determines Which Levers You Will Push And How Aggressively; Initially PCAM Should Lean Towards No Frills/Low Cost. As Traction Grows, Gravitate To The Center

Focus

Cost reduction is king ruthless elimination of redundancy is the objectiveOpportunistic revenue enhancement brutal requirements on rate of returenStandard fare (i.e., offerings / processes)NPV / ROI governs ALL decisions

Marries best-in-class solutions development with structured, efficient processingOffers customer some choice / access if willing to pay for itTIghtly calibrated to customer segments Investment decisions made at portfolio level

Empahsis on furture revenues & market share grab; cost critical but secondary Customer value driven by know me factor, one-stop shop service, consistencyHeavy investment focus driven by service / innovation / brand eminence; NPV less critical

Economic

Value/Behavioral

Buy

Build

Rule

Guide

Tight

Loose

Standardized

Personalized

Segmentation

Build v Buy

Metrics

Coupling

Delivery

Levers & Tools (

What

)


Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Levers & Tools (

What

)


Management Styles (

How

-


Roadmap (

When & Where

)

(Logical v Time

-

Sequenced)

Management Styles (How)



There Is A Logical Approach To Moving Forward And Tackling Your Biggest Issues; In Practice, The Starting Point Will Be Decided By Where You Are And What Hurts The Most

Enhanced Cross-Selling / Up Marketing Elimination of Un-Profitables (Active & Passive)Sale of Client Blocks or MarketsRe-positioning (New Products, Packages)Channeling RetrofitSystem & Data Requirements for Routinization

Client

Products & Services

Distribution

Organization

Tech & Ops

Market Analysis & SizingSegmentation (Economic, Behavioral)Client MappingClient Profitability AnalysisAcquisition Strategy

Channel to Segment Mapping (Delivery Plan)Multi-Channel IntegrationCapacity Utilization ManagementChannel Profitability

Products & Bundle Pricing StrategyService Level Design and PricingProduct Development / Management DesignBuild vs. Buy AnalysisProduct Profitability

Workforce / Productivity AssessmentFull Organizational RetrofitClient Coverage ModelClient Service Operations

Strategic Business ArchitectureTechnology ConsolidationStrategic Processing EnvironmentBuild vs. Buy / Outsourcing

Governance ProcessVendor ManagementCost Transparency Metrics & Reporting

Organizational StreamliningShared Services / COEsInfrastructure Inventory MgmtLow Hanging FruitSourcing AssessmentInvestment Portfolio ReviewVendor RationalizationCash Flow ManagementFacilities Management

Funding & Cost Management

Bold = top 10 priorities

Immediate Opportunities- Should not impact long-term direction -

Focus (Why)

Roadmap (When & Where)

ILLUSRATIVE



Identifying The Appropriate Organizational Level To Launch And Drive Initiatives Is Key To Ensuring Success Solves Root Cause Issues, Maximizes Impact, And Limits Political Friction

Cross-PCAM

Considerations

Processes and ownership are ring-fenced; allows initiatives to move faster / meet market demandEnables piloting of best-of-breed for later expansionHeavy hand on BU investment required can otherwise lead to unique solutions for like problemsPlaying in someones sandbox leadership, team and facts a must

Provides breadth / scale to significantly reduce costsRequires stringent ongoing financials / metrics / SLAs to track and monitor successUnder purview of COO strong mandate to act on immediately; however, culture may require broad socialization that can hamper / delay success

Alignment of cross-BU thinking obtained through artLarger scale savings achievable by coupling core processes Savings created by identifying and aggressively migrating commoditized processes away from BUProgress will naturally be tougher - less history of success

Utilizes CIB as center of excellence in same way as a PCAM Business Units take a bank-wide viewArea of significant influence by regional / global COOsCurbing potential incentive / charge-back issues keyRequires heavy mandate and fact-based plan

BU-Specific

PWM / PB (UHNW Arm)

RB (Mass Affluent Arm)

Cross-BU

Cross-Bank

AM

RB

PWM / PB

CIB

Organizational Level

Systematically roots out duplication of commodity processes and technology across PCAM, e.g.,Vendor management and consolidationProduct development / investment cycleHarmonizes customer data to maximize up- / cross-sell potentialClient profitability and prioritizationProduct bundling and pricingClient coverage model (Top 100 clients account planning)

Business-specific processes and systems which require substantial domain expertise, proximity to client and / or have unique regulatory requirements, e.g., Asset allocation / portfolio management toolsGo-to-market / sales approach (e.g. RFP process, retail teller functions)Product / regulatory- specific operations (e.g. NAV reporting)

Couples components of decisioning, core processes, organizational units, and systems across two business lines to maximize consistency and efficiency, e.g., Client segmentationService level designAccount sweeping (i.e., extend beyond Asset Management to Private Banking clients)

Couples / shares corporate services that cut across all aspects of the bank maximizing efficiency, effectiveness, commonality, e.g.,Corporate accounting and related processesFacilities managementTechnology infrastructureCash payment services

Characteristics

Focus (Why)


Degree of Coupling



Critical Activities Can Be Launched In Parallel To Baseline PCAM Performance, Attack & Fix The Shop And Develop A Powerful And Targeted Strategic Blueprint

Craft and Launch Strategic Blueprint

Client / Product / Distribution Assmt

Client / Product Design

Focus (Why)


Strat Arch

Client Segmentation

Channel to Segment Mapping

Acquisition Strategy

Strategic Business Architecture

Product & Bundle Pricing Strategy

Service Level Design & Pricing

Product Development / Mgmt Design

Strategic Processing Environment / Outsourcing

Client Service Operations

Multi-Channel Integration

Strategic Blueprint

Market Analysis

Baseline and Fix the Shop

Client Mapping

C / P / D Profitability Analysis

Workforce Assessment

Inventory Footprint

Initiative Port. Review

Capacity Utilization Mgmt

Product Sourcing

Organizational Streamlining

Elimination of Low Hanging Fruit

Governance Process

Vendor Rationalization

Vendor Management

Full Organizational Retrofit

Shared Services / COEs

Technology Consolidation

Corporate Facilities Management

Cost Transparency

Long-term Metrics & Reporting Implementation

Client Rationalization

Metrics Piloting Top KPIs

IT Buy vs Build Assessment

Visible Impact

Month 1

Month 2

Month 3

Month 4

Month 5

Month 6

Month 11

Month 12+

Org Footprint & Cost Mgmt

Channel Migration / Pricing

Client Coverage Model



Appendix



Value-Based Segmentation Segment based on lifetime value of client, loyalty profiling, client needs & behavior; value the use client focus groupsCRM Alignment Examine how client data generated, used and maintained across PCAM (e.g., revenue enhancement, cost structure, management information) to avoid waste of technology and time. Implement tactical enhancements and local solutions (e.g. based on client segmentation)Single View of Client Determine strategy and implement across firms systems; will impact opportunities to up-/cross-sell and gauge risk of total client relationshipBrand and Identity Management Institute on-going evaluation (e.g., via client focus groups and analyst reports) of brand image by region by product / asset class

Market Analysis & Sizing Quick-n-dirty assessment of customer demand / market size, brand eminence, etc; map against capabilities to identify gaps, agree focusEconomic Segmentation Prioritize and segment existing and potential clients (based on profitability and growth potential). Identify outliers and determine immediate retention strategyClient Mapping Inventory client overlaps; map clients within / across orgs to understand where customers fit. Start where PCAM has highest overlap Client Profitability Analysis Determine profitability of existing client base by product and channelAcquisition Strategy Assess costs / hit ratio to acquire new clients; determine feasible acquisition / alliance / co-branding targets

Pricing Assess alignment of current pricing methods / costs to develop / support products & services. Identify ways to reduce complex fee structuresProduct Profitability Measure by segment. Measure against total cost to develop and deliver product, volumes, demand for complex vs commodities. Evaluate outliers as candidates for outsourcing / divestment or focus of cost reduction / re-pricing effortProduct Sourcing Formalize product sourcing strategy based on client / economic criteria. Identify and rationalize redundant sourcing from 3rd parties / in-house; assess opportunities to resell PCAM products where leverages brand

Product and Bundle Pricing Strategy Leverage understanding of client preferences by segment to bundle highest value-add baskets of products and services. Increasingly important for the PWM clientsProduct Portfolio Optimization Implement selected sourcing strategy based on client segmentation. Invest / divest across unprofitable / low potential products (can be done sooner based on economic segmentation but with higher risk)Service Level Design and Pricing Evaluate across PCAM; determine demand for customized vs commodity; identify outliers and bring in line with client prioritization to round-out shortcomings of client service modelProduct Development / Management Design Assess fragmentation / implement a global product development cycle / standardized policies as feasible. Review interactions between product manufacturing (PCAM / CIB) and client distribution

Channel Profitability Quickly assess current channel productivity and profitability relative to segments / productsCapacity Utilization Management Identify opportunities to rationalize / improve location and / or commercialize excess capacity. Assess opportunities to expand channels into non-traditional segments (e.g., e-private banking for HNWI) and / or significantly reduce duplication across the organizationChannel to Segment Mapping 1st evaluate market trends (e.g., channel saturation, cost structures, competitors, functionality, client needs). Map optimal product mix / locations / functionality / pricing by client segmentQuick-Hit Revenue Enhancement Identify opportunities to leverage internal / 3rd party advertising over existing channels (e.g., ATM)

Channel Migration / Pricing Develop and implement pricing models that discourage own customer off-us transactions and transition clients to lower cost channelsDelivery Efficiency Expand footprint through acquisition / co-branding; outsource components / source E2E processingCommercialization Rent excess capacity of physical distribution channels and / or sell services to other financial institution. Explore alliances / equity plays to release latent value of already build and proven capabilitiesMulti-Channel Integration Create consistent multi-channel delivery architectures. As an extension of single view of client (i.e., consistent customer analytics, contact management, etc), clients must have a single view of the financial institution

Distribution

Products & Services

Client

= Number of days to plan and take action

NN

Business Model Levers

90

180

60

90

60

30

30

60

45

30

45

45

45

60

45

90

L/T

L/T

L/T

30

L/T

= Longer-term (over 20 months)

120

O/G

Short-termCan Act on Now (< 3 Months)

Long-termLonger Implementation timeline / Interdependencies Impact Start Date

Business Model Levers & Tools Glossary

O/G

= On-going

45

L/T



Operating Model Levers & Tools Glossary

Full Organizational Retrofit Ruthlessly eliminate duplication; rule out time-consuming hand-offs and rework. Tweak / redefine key concurrently roles as necessary. Put out the fires - socialize findings / action plans heavily and repeatedly Client Coverage Model Develop and implement formal go-to-market structure to support cross-business / region treatment for top clients. Cross-disciplinary teaming wont come naturally must be incented across heavy boundariesClient Service Operations Redesign ops to support post-transaction servicing predicated on cross-product / cross-channel / front-to-back transaction visibility Shared Services / COEs Quickly assess feasibility, scope and fit of a shared services model, even as a strawman, to deliver significant cost focus and philosophical message can operate as COEs within business / used by all

Workforce / Productivity Assessment Evaluate skillsets / workforce composition, relative functional / product alignment and associated costs (e.g. # contractors, on-shore / off-shore). Evaluate employee utilization and productivityOrganizational Streamlining (aka Tweaking) Swiftly analyze the organization using 80/20 rule to understand duplication / rework / associated costs and avoid turf wars. Implement quick-hit process improvements to reduce overlaps and duplications

Inventory Footprint Quickly inventory existing hardware and software (applications, # of users / seats / licenses). Launch on-going process to update inventory ; create disciplined on-boarding / decommissioning approachLow Hanging Fruit Rationalize number of licenses / seats for 3rd party applications and consolidate hardware. Launch focused effort to aggressively decommission unused / redundant systems (e.g. multiple security masters)Strategic Business Architecture Evaluate PCAMs current process & technology architecture. Articulate strategic design principles (regional / global, distributed / centralized, coupling, exception-based processing, component sourcing)Buy vs Build Evaluate existing agreements; identify outsourcing opportunities to reduce operating expenses by leveraging vendors greater scale and experience, source end-to-end to optimize pricing.

Initiative Portfolio Review Review ongoing / planned initiatives, kill / freeze non-essential investments, prioritize the rest, deploy resources against priorities. Demand business cases that outline quantitative (e.g., payback / ROI, NPV) and qualitative benefits (e.g., client value proposition)Governance Process Implement a hard-and-fast investment governance process. Build transparent approval / tracking / reporting process around initiatives Vendor Rationalization Review / eliminate duplicate vendors. Drives increase to bottom-line and reduces operational complexity, which further reduces costsCash Flow Management Explore new opportunities to enhance PCAM revenue (e.g., conversion of money market funds to deposit accounts, review client billing / fee arrangements and collections)

Corporate Facilities Management Consolidate facilities and optimize property to reduce high fixed costs. Predicated on assessing labor pool / cost differences, channel strategy, and organizational streamlining / shared servicesPerformance Metrics & Reporting Design & launch meaningful, consistent metrics along key dimensions of PCAMs business / operating models Vendor Management Institutionalize consistent vendor management processes and practices across the organization Cost Transparency Implement / amend SLAs with internal / external service providers, review / modify existing allocations / chargeback mechanisms to enable transparent and differentiated costing (e.g. exception or usage-based)

IT & Ops Facilities management - Rationalize infrastructure / identify optimal placement of back-up sites as well as IT & Ops support staffTechnology consolidation - Define strategy and consolidate technology platforms across the organization (e.g. middle-ware / messaging) in coordination with PCAM-Global and CIB. Predicated on detailed future architectural design principles Strategic Processing Environment Leverage component-based architecture / rule-based engines to deliver exception-based, scalable processing environment F/M/BO transaction visibility, transparency, lower marginal cost per transaction key Outsourcing Outsource non-core processing capabilities (e.g. settlements, reconciliations) to 3rd party service providers. Predicated on decoupling value chain to find common denominators and, as needed, componentizing architecture

180

45

180

L/T

L/T

120+

90

30

30

90

60

60

= Number of days to plan and take action

NN

L/T

= Longer-term (over 20 months)

O/G

= On-going

Short-termCan Act on Now (< 3 Months)

Long-termLonger Implementation timeline / Interdependencies Impact Start Date

Funding & Cost Mgmt

Technology & Ops

Organization

Operating Model Levers

60

60

60

L/T

L/T

120

90

60

180

90



Identifying The Appropriate Organizational Level To Launch And Drive Initiatives Is Key To Ensuring Success Solves Root Cause Issues, Maximizes Impact, And Limits Political Battles

Characteristics / Considerations

Processes and ownership are ring-fenced; allows initiatives to move faster / meet market demandEnables piloting of best-of-breed for later expansionHeavy hand on BU investment required can otherwise lead to unique solutions for like problemsPlaying in someones sandbox leadership, team and facts a must

Provides breadth / scale to significantly reduce costsRequires stringent ongoing financials / metrics / SLAs to track and monitor successUnder purview of COO strong mandate to act on immediately; however, culture may require broad socialization that can hamper / delay success

Alignment of cross-BU thinking obtained through artLarger scale savings achievable by coupling core processes Savings created by identifying and aggressively migrating commoditized processes away from BUProgress will naturally be tougher - less history of success

Utilizes CIB as center of excellence in same way as a PCAM Business Units take a bank-wide viewArea of significant influence by regional / global COOsCurbing potential incentive / charge-back issues keyRequires heavy mandate and fact-based plan

Systematically roots out duplication of commodity processes and technology across PCAM, e.g.,Vendor management and consolidationPCAM specific facilities concernsProduct development / investment cycleHarmonizes customer data to maximize up- / cross-sell potential; focuses organization on client to break glass ceiling on customer service, fusing one bank, one feel approach, etc. Client profitability and prioritizationProduct bundling and pricingClient coverage model (Top 100 clients account planning and management)

BU-Specific

Cross-BU

Cross-PCAM

Cross-DB

Asset Management (The Plant)

Private Wealth Mgmt (UHNW Arm)

Retail Bank / DB24 (Mass Affluent Arm)

Business-specific processes and systems which require substantial domain expertise, proximity to client and / or have unique regulatory requirements, e.g., Asset allocation / portfolio management toolsGo-to-market / sales approach (e.g. RFP process, retail teller functions)Product / regulatory- specific operations (e.g. NAV reporting )

Couples components of decisioning, core processes, organizational units, and systems across two business lines to maximize consistency and efficiency, e.g., Client segmentationService level designAccount sweeping (i.e., extend beyond Asset Management to Private Banking clients)

Bank-wide commodity functions that maximize efficiency, effectiveness, commonality, e.g.,Corporate accounting and related processesFacilities managementTechnology infrastructureCash payment services

Focus (Why)



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Why HFM? Oracle Hyperion Financial Management is a comprehensive, Web-based application that delivers global financial consolidation, reporting and analysis in a single, highly scalable software solution. Oracle Hyperion Financial Management utilizes today's most advanced technology, yet is built to be owned and maintained by the enterprise's finance team.Key FeaturesKeyBenefits Compliance with multi-GAAP, IFRS and local statutory reporting requirements Complete audit trails, workflow, internal review, validations and controls "Smart dimensions" to identify and report new sources of profitability and cash flows Powerful reporting and analysis tools built for use by end-users; Support for MS- Office Full integration with transaction systems, legacy applications and ERP systems Architected for the web so users can quickly, easily and securely input and access Global financial information from any location, using a standard web browser Improved close cycle times and reduced costs Spend more time on forward-looking activities and less time checking and double-checking actual results Reduce the cost of compliance and increase confidence in the numbers by reducing the control risks Fast time to benefit - packaged financial intelligence ensures a requirement for less customization to implement Leverages existing investment in ERP systems; no changes to underlying transaction systems - cost and effort can be minimized Finance owned - no requirement for IT to administer the system

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EPM Architect was introduced in System 9.3 and offers developers a different tool for administering and managing databases for HFM. Developers must choose between legacy HFM, or Classic, and managing databases through EPMA.EPMA vs. Classic Classic Advantages

Stability. Been around for several years (since the initial product release).

Less of a learning curve for existing HFM customers for existing clients upgrading, remaining on legacy means there is simply less to learn/change/test as EPMA introduces a new paradigm in database management.

Easy to manage/operate for small applications.

Classic Disadvantages

Development will not focus as much attention on Legacy as on EPMA. Hyperion sees EPMA as the future so we can expect less focus on the legacy HFM administration in the future in the way of new features. This has already been seen with 11.1 and Calculation Manager.EPMA Advantages

Architecture. EPMA provides a web based solution that does not require an installation on the local PCs.

Hierarchy maintenance across Hyperion products. Once a dimension has been built in EPMA it can be used within HFM, Planning, or Essbase . This may make metadata/outline synchronization across products much simpler in the future.

EPMA Disadvantages

Instability. As of 11.1, this product is essentially a Version 2 product. So, expect some buggy behavior. In the field there has been more instability seen with Planning than there has been with HFM.

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Start Financial Management from the Windows desktopHFM can be started from All Programs as shown above.

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Open Application Click HereA new application can be open from left panel as shown above.

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Connect to server: View all applicationClick HereConnect to the server for creating new application.

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Select Application to openClick HereAfter connecting to the server , list of all available application will be listed. Select the application and then Click on the Open Application to open it.

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Entering into ApplicationSelected Application Name will appear on the header . Here IFRS2.

All options are available in the left panel.-Data-Journal-Reports-Application( Manage Metadata)-Load-Extract

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Making New Application Following basic steps are there for making new applicationCreate ProfileLoad MetadataLoad DataLoad Rules (if available/ required)Load Journals /Security files (if available/ required)These topics will be covered in detail in the Financial Consolidation Using HFM section under the Building Application subsection.

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Oracle Hyperion EPM Architect is a feature of Oracle Hyperion Financial Management, Oracle Hyperion Planning and Oracle Hyperion Profitability and Cost Management. Performance Management Architectenables administrators to manage, create, and deploy Hyperion applications within one interface.

Creation and deployment:Create applications by dragging and droppingDesign applications graphically, within one environmentConfigure dimensions and define properties from predefined, sample librariesCreate filters to select specified members of a dimension. For example, select the BalanceSheet accounts of the Account dimension. This enables you to have one dimension to maintain but not use the full dimension in all applications.Duplicate applications for testing or what-if analysesUpgrade applications from previous releases to place them in the Dimension Library andApplication Library. This ensures that you are ready to get started with the functionality within Performance Management Architect

The following components make up EPMA. These components are accessed via the Workspace from the Navigate, Administer menu. Dimension Library Contains dimensions and associated members that are either shared (available for all applications) or local (unique to a specific application).Application Library Contains and defines applications for the various products in the Hyperion suite.Data Synchronization Defines and controls syncing of data from one application to another, including dimension to dimension linking and member mapping.Note: Application Upgrade component is also there. It converts a classic application into an EPMA application ( To be used only once per application)

EPMA Overview

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Running EPMA workspace User can launch the Workspace URL as shown here.

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Workspace: Login After launching the workspace following page will come.

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Entering WorkspaceThis is first page after logging into workspace. Here all recently opened workspace is listed. From File menu or Favorites user can go to specific projects.

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Administrator optionsVarious Administrator option are shown here.

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Opening application from file menuUser can open application from file menu as shown here.

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Opening Application User can open application from recently opened projectsUser can open project from recently opened project list.

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Opening Application Library/ Dimension LibraryUser can go to application library as shown here .

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Application Library: Contains all application Application library contains stores all the application created deployed by the users..

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Dimension LibraryContains all dimensions for selected application or available in shared library. A dimension can also be local to specific application.

Shared Library contains all the library which are shared across all application.

Dimensions describe an organizations data and usually contain groups of related members. Examples of dimensions are Account, Entity, and Period. Financial Management supplies eight system-defined dimensions and enables you to populate up to four custom dimensions that you can apply to accounts.

Dimension members are arranged in hierarchies. Upper-level members are called parentmembers, and a member immediately below a parent member is referred to as the child of a parent member. All members below a parent are referred to as descendants. The bottom-level hierarchy members are called base-level members.

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Financial Consolidation Using HFM : Building Application

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Building New ApplicationIn classic HFM following basic steps are there for building a new applicationCreate ProfileLoad MetadataLoad DataLoad Rules (if available/ required)Load Journals /Security files (if available/ required)

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Managing application: Profile creationUser can create profile from the Define Application profile as shown here.

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Creating Application Profile: Enter LanguageUser can enter currency details here.

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Time period settings

User gets option to do time period settings for their organization .

If the Organization financial cycle is starts from April , user can start the months by April instead of Jan.

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Edit FrequenciesUser can enter view results here.

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Edit period Period detail related to application is shown here.

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Save ProfileClick finish to save your profile User can save the created profile as shown here.

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Manage MetadataHere user can load the Meta data into the system.

Manage Metadata->Open File->select .xml or .app file for your application Managing metadata consists of mainly two work. First one is creating account/entity structure for the organization and second is to configure them according to requirement.

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Select Metadata Item to be displayedThe selected Metadata item will be shown inTree view by default. Other option is list view next to it. On right side, properties correspondingto selected item will be displayed

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Selected Metadata Item : AccountA sample account structure is shown here. User can add new account here . User can change account settings in right panel or go to List view for changing property.

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Creating Account StructureA sample account structure is shown here. User can add new account here by clicking at icon as shown in the figure. User can add child or sibling as required.

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Selected Metadata Item : Application SettingsHere application settings are shown . User can modify the settings as per requirement.

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Selected Metadata Item : Consolidation methodsHere all consolidation methods are shown. These are default consolidation methods provided by the system.

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Selected Metadata Item : CurrencyHere all currency members are shown.

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Selected Metadata Item : Custom1Here a sample custom account is shown.

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Selected Metadata Item : EntityEntity Structure is shown here . In List view one can see and change entity properties.

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Selected Metadata Item : ScenarioHere various scenario is shown. These scenario can be created or loaded to the system . Once loaded their property can be changed from here.

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Load OptionsThe left panel shows various load option available . These option help user to fulfill the requirement faster.

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Load DataHere user can load the data into the system.

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Load journal fileHere user can load the journal file into the system.

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Load RulesUser can load rules from here to the system. These rule will be used while doing the consolidation.

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Extract OptionsThe left panel shows various extract option available . These option help user to maintain various version of application related files.

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Extract MetadataHere user can extract the loaded metadata. This gives user option to store various version of metadata for security reasons.

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Extract DataHere user can extract the loaded data. This gives user option to analyze the data available in the system.

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Saving work done on new Application The state of application is saved automatically after every change in the system and if any change is done outside the system the user need to logoff and login again to see it.

Incase user want to save it work in tangible form it can extract metadata and data and other files as and when required.

These files are really helpful in creating various versions and getting back to old versions if anything goes wrong in the current version.

Note: Every time user opens the application, the metadata needs to be loaded from the xml/app files again.

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What next?Now Running the application is continued from EPMA. User need to register the classic Application as shown in the figure.

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Registering classic application with EPMAAfter registering the application user can work on the application through EPMA workspace.

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Building a new application using EPMAUser can work on classic application after registering it in EPMA . User can also create new application in following steps.1. Load dimensions into Master View Open Web Client and LogonNavigate to Dimension LibrarySelect File-Import-Create ProfileGive Profile Name Select type of Flat FileSelect Upload and Browse to find the file sampleapps/ ApplicationName/metadata/SimpleApp.adsSelect the file and select UploadSelect the Ok buttonSelect Next at the File Properties screen (accept all defaults)Select the Create dimensions for the non-mapped dimensions with the source dimension name check box and hit Next- This will load the files into the Master ViewAccept all defaults at the Map Properties page and select FinishSelect Yes to the popup asking Do you want to execute the profile nowNavigate to the Job Console to review status of the Import process. Once complete proceed to step 3 (you can also view if dimensions are loaded by refreshing the Dimension Library)From the Dimension Library select File-New - Application Select Create blank application optionName SimpleType Consolidation

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Loading Sample Application on Web Client 4. Drag and drop the following dimensions into the Center Pane -Account, Alias, ConsolidationMethod, Currency, Entity, Products, Customers, Custom3, Flow, ICP, Period,Scenario, SecurityClass, Value, View, Year (note that both Period and Year must be local dimensions)

Select the application name in the main pane select the Category(Consolidation) on the Property Pane6. Set the following Properties (note you need to save properties by selecting the disk icon on the property tab)Default Currency: USDSecurity For Entities, Security For Scenarios: SelectNode Security: EntityDefault Rate for Balance Accounts: Rate1Default Rate for Flow Accounts: Rate2Use PVA for Flow Accounts: SelectUse PVA for Balance Accounts: SelectICP Entities Aggregation Weight, Default Value for Active: 17. Define Dimension Associations for Application Select the application and right mouse click and select Activate All Associations8. Navigate to Application Library9. Select the Simple app and right clickValidate will ensure all settings are correct before deployingDeploy will create the application on the HFM application server

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Loading Sample Application on Web Client 10. Once the application is deployed you will need to assign Administrator access to the user 11. Once app is deployed select Navigate-Applications-Consolidations- ApplicationName to continue12. Load DataUse file AllData.dat located in Data directoryEnsure File Contains Ownership Data is checkedMerge or Replace mode13. Load Journals OptionalUse DemoJournals.jlf located in Journals directoryEnsure that period is open before loading the journal . This can done through manage period tab under Journal.14. Consolidate SystemThe Data loaded can be consolidated using the Process Control screen. Make sure you change the Scenario and Year before consolidating the above periods.

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Financial Consolidation Using HFM : Running Consolidation

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Running Consolidation: Various Aspects

Data Preparation

Entity wise Consolidation

Currency Translation

Journal Entry

Inter Company Partner(ICP) Transaction

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Data Preparation Scenario; Year; Period ;view; entity; value; account; icp; custom1; custom2; custom3; custom4;value

Below is sample data has been prepared in the required format . The first ACTUAL scenario here. Similarly Year is 2006 and Period is December ,view is YTD and so on.

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Data Preparation



Journal Entry


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Entity wise Consolidation : Settings A typical Account structure is shown. Here Cash, Inventory ,Goodwill etc are Base accounts . It means they do not have any account under them. Assets , Liability Expense etc are up in the hierarchy and they need to be consolidated from their descendents. In Metadata , the account properties of the accounts should be checked IsConsolidated, if user wants the account to be used in consolidation process. If IsConsolidated is not checked the account the will ignored while consolidation and entries may go to default account or [none] account or lost.

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Entity wise Consolidation Here , one can see that IsConsolidated is marked for most of the accounts meaning they will be used while cosolidation. Accounts like GrossProfit is not marked IsConsolidated because it is a drived account. And It will be calculated based on values of other accounts. The formula of calculation of derived accounts will be written in business rule sub routines. Such accounts will be marked IsCalculated.

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Entity wise Consolidation While consolidation, all calculation related formula will be picked up from Sub calculate routine in the rule file. Here one can see that formula for account like NetIncome =revenue expense Gross Profit = Revenue-COGS PBIT= Revenue-COGS-OperatingExpense has been mentioned. In Metadata , all these derived accounts will be marked against IsCalculated and will not be marked against IsConsolidated. So all these accounts will not be consolidated but will be calculated as per rules mentioned in the rule file Sub calculate routine.

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Entity wise Consolidation For doing consolidation, the user need to go to the Task->Data Task->Process Control option. Following screen appears as per selected scenario , period and entity. User need to change point of view according to its need. The arrow shows button for consolidation.

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Entity wise Consolidation For doing consolidation, the user need to select the entity and then click on Consolidate option as shown in the figure. The system will start consolidation for the selected entity.

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Entity wise Consolidation Here top level entity ABC Ltd has been consolidated with all its descendents. Note that after successful consolidation the Calc Status is changed to OK. The ECA status is related to journal entry and res flag shows that some journal entries present but not consolidated due to some criteria not met while doing the consolidation.

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Data Preparation



Journal Entry


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Currency Translation For currency Translation entry should be given in the data file.Here the entries are done according to standard data load pattern which isScenario; Year; Period ;view; entity; value; account; icp; custom1; custom2; custom3; custom4;value

Here Rate1 and Rate2 as account are being used for translating USD to INR at rate I USD=50 INR.USD and INR entry is done as custom1 and Custom2 accounts for currency translation. The System automatically does the translation.

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Currency translation For viewing the currency Translation got to , In mange documents-> New data grid.In setting point of view (POV) currency tab select to see the currency entries in the grid.Here one can see that last two entries 476 and 577 are in USD and add to 1053 but the total figure of 60,402 has come after currency translation using 1 USD=50 INR.

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Data Preparation



Journal Entry


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Journal Entry For journal Entry : Go to Tasks and then click on Journal Task. Click on process Journals. Screen as shown in right will come. Click on New to do new Journal entry or click on open to modify existing journal entry .Note : For doing any Journal entry , the corresponding period should be open. One can open the period from Manage periods.

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Journal Entry When user clicks on New , following page will come. The system gives option to create Single entry journal or template based. Type can be decided as per requirement.Click on Ok after choosing the options . This will lead the user to journal entry page.

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Journal Entry This is journal entry page . User can give detail here.Balance Type shows type of Journal is balance or not. For balance journal Final addition of all changes related to journal should effect overall value of entity.

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Journal Entry Click below the Account to create new entry. Place the curser there and then click on Pick members .It will give option to select the account. User can manually enter the debit or credit amount. Variance is being calculated to show the net effect on the system once the journal gets approved and posted.

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Journal Entry After giving Journal Details. Give a unique Label to the journal and then save it.After saving the journal now it can be processed. Click on the Process Tab . It gives user the option to Submit ,Approve and Post the Journal.

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Data Preparation



Journal Entry

Inter Company Partner (ICP) Transaction

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Inter Company Partner (ICP) TransactionDoing an Intercompany transaction in HFM requires similar steps as for doing journal entry. But after doing all the steps the System usually gives error like Cell does not support intercompany transactionsThis is because the HFM does not enable inter company transfer by default and user need to do following entry corresponding to their accounts to which they want to do Inter company Transfers.The entry need to be done in the Transactions() sub routine of the rule file.

Rest of the steps are similar to the journal entry. First user need to go in task and then click on IC transaction tasks.

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Inter Company Partner (ICP) TransactionOnce user Clicks on IC transaction Tasks, below option related to IC transaction are displayed. User need to Click on Process IC Transaction. The page shown will be displayed.

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Inter Company Partner (ICP) TransactionHere various option related to Inter Company Partner (ICP) Transaction task is displayed.

To post any IC transaction , the corresponding period should be open .This can be achieved through Manage IC Periods option shown above.

For getting , modifying the reason for IC transaction , user need to click on Manage IC Reason codes. Rest all steps are similar to journal entry.

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Financial Consolidation Using HFM : Viewing results

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Viewing Results : Various Aspects

Consolidation Results

Journal/ICT Reports via Web Client

Customized reports via Reporting Studio

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Viewing Consolidation results After Account Structure, Metadata has been created and data has been loaded for various entities, following basic steps are required to be done for doing the consolidation process. Step1: Login to Web Client. Open the desired project or application and go to the Tab Administration. Click on Manage Documents .

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Viewing Consolidation results Step 2:After User clicks on Manage documents following screen comes. Click on Data Grids tab and then on New Data Grid

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Viewing Consolidation results Step 3:After User clicks on Data Grids tab and then on New Data Grid following screen comes. On the top default point of view is shown. User needs to change the point of view to see desired consolidated results.

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Viewing Consolidation results Step 3:After User changes the point of view, user need to click on grid settings option to set result format. Right now, the Row dimension is set to entity and column dimension is set to Period. This will show entity wise consolidation. To see account wise consolidation user need to change row dimension to Account.

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Viewing Consolidation results Step 4: To see account wise consolidation user need to change row dimension to Account. As shown above. If User want to see both entity and account wise consolidation simultaneously then user need to add both Entity and Account to the row or column dimension . If User want to see year wise consolidation then the Column dimension need to be changed to Year rather than Period.

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Viewing Consolidation results Step 5: After Point of View setting and grid setting has been done HFM will automatically populate the grid based on data and consolidation Settings. Here account level consolidation is shown for Patna branch office for the period December ,2006 for the view YTD and scenario Actual.

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Journal/ICT Reports via Web Client Following basic steps are required to be done for doing the consolidation process. Step1: Login to Web Client. Open the desired project or application and go to the Tab Administration. Click on Manage Documents .

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Journal/ICT Reports via Web Client Step 2:After User clicks on Manage documents following screen comes. Click on Reporting tab next to Data Grid

Click

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Journal/ICT Reports via Web Client Step 3:After User clicks on Reporting tab next to Data Grid , following screen will come.Step 4: Select the report type. Here Report type is Inter company. User can change it according to the requirement.

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Journal/ICT Reports via Web Client User have various option for generating the report. They are Intercompany ,Journal ,IC Transactions reports. File type by default is Report Definition file .It can be changed to XML and HTML if required.

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Journal/ICT Reports via Web Client Fill the report details. Basically mention the entity , period , accounts and other relevant data for the required report . Save it. Click on print/preview tab to view it.

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Sample ICT report A sample report generated is shown here. The data filled by user for generating the report is shown in upper part and lower part is the report generated by the system.

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Customized reports via Reporting Studio Customized reports can be generated via Financial reporting Studio . User can start reporting Studio as shown here.

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Customized reports via Reporting Studio After user starts the Reporting Studio, it prompts for login/password .After valid login Reporting Studio will open following default page. Here user can mange all the report he/she will make. User can create folder here for specific use. For example POC Reports folder is created and rest folders were system generated.

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Customized reports via Reporting Studio For creating new report , Go to file ->New->Report.

It will open the reporting canvas for making the report.

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Customized reports via Reporting Studio Click on Insert tab and then on Grid. Grid will ask for database connection. Valid connection will able user to use the account or entities made in HFM for generating Custom Reports.Provide proper connection settings and click OK to proceed further.

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Customized reports via Reporting Studio After successful Database connection , system will show a grid for selecting the row and column dimensions. Here row dimension is Account and Column dimension is set to period .

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Customized reports via Reporting Studio After user has specified the grid setting , system automatically generate a empty grid as shown above. Now user can select Account by clicking as shown here and user can change Scenario , year view etc.

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Customized reports via Reporting Studio After user clicks on Account or other tabs, the system prompts for selecting members for generating reports. User can customize the required report from choosing various option here.

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Customized reports via Reporting Studio After user have made customized report it can be saved in root folder or user created folder as shown above.

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Customized reports via Reporting Studio After user have Save the report in the Folder it can be open by clicking from there.

User can click on print preview as shown above to see the report.Print preview

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Customized reports via Reporting Studio A sample customized report is shown here.

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Shared Service Shared Service console can be started as shown above.

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Application GroupsApplication groups are group of similar type of application.

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Provisioning UsersProvisioning Users will give respective user proper access to the system components.

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UserAccess to projectsGiving rights through Provision option

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Starting HFM Make sure LAN is connected , while staring computer and starting HFM.Switch off the anti-virus while starting HFM.On Staring of computer , by default all services related to HFM should be up except the annotation and agent service.Start Agent service manually. Annotation service is not required.After Agent service is up launch the Weblogic server .For launching Workspace URL successfully , the Weblogic server is not required. But when you login, for validation the Weblogic server should be up and running.

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HFM Resourceshttp://www.oracle.com/technology/products/bi/performance-management/financial-management.htmlhttp://www.oracle.com/appserver/business-intelligence/hyperion-financial-performance-management/hyperion-financial-management.htmlhttp://www.oracle.com/technology/obe/hyp_fc/HFM11.1.1_Overview/HFM_Overview_Part1.htmhttp://www.pureapps.com/short_demo/hfmdemo.html

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hfm overview 6

Documents

level of organization

rulesafter consolidation

financial consolidationwhy

hfm resources

consolidated results

load data

based management

hfm building application