lcbo’s treasury transformation - afponline
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LCBO’s Treasury Transformation
Carmela Abbamonte-Boyko, CPA, CMA Manager, Oracle Financials Email: [email protected]
Eduardo Farfan, CPA, CMA Project Leader, Treasury Email: [email protected]
Glenda Cardiño, CPA, CMA Treasury Analyst, Treasury Email: [email protected]
Agenda Who are we? Life before Implementation Why Oracle/Hyperion? Project Objectives Project Overview Life after Implementation Challenges & Successes Lessons Learned What is next?
LCBO – Who are we?
One of the world’s largest purchasers of alcoholic beverage Crown corporation 6,000 employees working in:
• 630+ retail outlets • 5 warehouses • Several regional, district locations • Head office
LCBO Treasury – Who are we? Investments; short-term timeframe, R1
(low) or higher instruments Hedging; passive strategy to reduce
losses LCBO does not incur debt to sustain
its operations Annual Cash Plan; Dividend schedule
to Province
LCBO SYSTEMS – ORACLE BUSINESS SUITE
THIRD PARTY
HOST (Web based)
Email – Data Entry
Hardcopies
Life before Implementation
Why Oracle/Hyperion? Oracle E-Business Suite is LCBO’s Financial
System Hyperion is LCBO’s Financial Planning Tool Integration with Accounts Payable & Financial
Planning Process Leveraging experience & knowledge Small Treasury Operation
What is your Treasury
Application?
Project Objectives Business Processes (STREAMLINE):
• Review & assess Treasury’s processes
• Implement improvements based on recommendations
Project Objectives System Implementation (INTEGRATION):
• ORACLE Treasury Module
• Transition of Cash Forecast Models to Hyperion
Project Overview
Go Live! - Feb 26 & 28
Vision & Plan Design Build & Test Operate
Perform Treasury review & provide recommendations Define business
requirements Fit/gap Analysis Oct 21-Dec 16
Business process design Oracle
Treasury & Hyperion Planning Design Nov 18-Jan
17
Configure & Test Nov 4-
Feb 21
Project Overview Project Launch
• Issue RFP to review, recommend and assist with implementation
• Select a partner
Project Management • Identify project team • Develop Project Charter & Plan • Establish weekly status meetings • Use of Share Point Repository
Project Overview Process Review
• Assess Treasury policies and programs on Foreign Exchange, Hedging, Investment, Cash Management and Forecasting
Business Requirements Workshops • Define to-be processes and requirements • Leverage industry best practices and Oracle out-
of-the box functionality
Project Overview Solution Design
• Perform Gap analysis • Configure Applications
Solution Development
• Create reports in Oracle Treasury • Develop 30+ web forms/business rules for Cash
Position & Planning • Integrate Oracle to Hyperion through interface
Project Overview Testing
• Build test scripts • Map & load test data • Perform unit, integration and user acceptance
testing Go-Live and Support
• Cutover planning • GO LIVE! • Post Go-Live support
LCBO SYSTEMS – ORACLE BUSINESS SUITE
THIRD PARTY
HOST (Web Based)
Email – Data Entry
Hardcopies
Life after Implementation
Auto
Auto
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Project Challenges
Tight timelines due to year-end constraints Short learning curve for
Hyperion Planning Limited resources Key technical resource
not on-site
Technical Challenges Oracle Discounted
Securities calculation Oracle-Hyperion
interface development
Design of a date-specific Hyperion Cash Planning model Oracle BAI file
import process
Did you face issues importing
BAI Files into your application?
Successes
Integrated business processes
Streamline process flow
Reduction of data entry
Effective knowledge transfer
Successes
Elimination of third-party hosting
Improved efficiency in Annual Cash Planning process
Improved FX hedging Capability of electronic
signature Dashboard – Increase visibility
related to Risk Management
Are you using electronic
signatures?
Dashboard
Dashboard
Do you have a Treasury
dashboard?
Lessons Learned Perform business review & initial
configuration in parallel Key members should be on site Allow key members to start system testing
earlier
Lessons Learned Determine a good testing data strategy Daily touch point meetings during UAT
helped with keeping the team focused Post-implementation support is critical
What is next?
Review and update of key Treasury Policies
Inclusion of Treasury function in LCBO’s Business Recovery Plan
Develop a Banking Scorecard
Better integrate Treasury into Enterprise Risk Management
Thank you