streamline and enhance your financial consolidations process
TRANSCRIPT
May 14, 2013
Streamline and Enhance Your
Financial Consolidations Process
Danielle Bass, Director Global Accounting
Systems
© 2013 Citrix | Confidential – Do Not Distribute
Why are you in Orlando?
• I desperately needed to go to Harry Potter land and finally
learn the rules of quidditch
• Because if I’m going to visit Florida, it’s gonna be before
hurricane season starts on June 1
• To get tips and advice on how to streamline and enhance
your financial consolidations process by someone who’s
been there
© 2013 Citrix | Confidential – Do Not Distribute
Application Landscape Pre-SAP Business
Planning and Consolidation
4
Previous consolidation
tool SAP ECCS Module
Volume Consolidate 90 entities
Previous reporting
platform SAP Report Writer and SAP BW BeX Analyzer
User base 7,000+ SAP users, 200 consolidation users
Geographic location Consolidation ran in US & Switzerland
Reporting conducted globally
SAP BW Version 7.0
SAP NetWeaver version 7.0
© 2013 Citrix | Confidential – Do Not Distribute
• Citrix consolidated the financial data of over 90 entities with SAP’s
ECCS module
• The process involved re-measurement and translation of foreign
currency, elimination of intercompany activity, and producing
consolidated financial reports for SEC reporting and quarterly
earnings book
• Due to system limitations, execution and research of consolidated
data within the system is time consuming and involves many
business and IT resources
• The process to produce SEC, earnings, and Board of Directors
reports was very manual.
State of Affairs pre-SAP Business Planning and
Consolidation
© 2013 Citrix | Confidential – Do Not Distribute
Our Journey
6
Jan 2013
Oct 2012
July 2012
May 2012
Apr 2012
Mar 2012
Jan 2012
Dec 2011
May 2011
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ate
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ark
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© 2013 Citrix | Confidential – Do Not Distribute
Business Benefits Derived by SAP Business
Planning and Consolidation Business Scenario Before Planning and
Consolidation Value derived from Planning and Consolidation
ROI achieved
Consolidate multiple newly acquired entities and ledgers
SAP ECCS only consolidates one ledger, cannot consolidate for IFRS or statutory reports
Consolidate over 120 entities and added additional reporting dimension (region and profit center)
200 hours per month Less downstream effort
Preparing earning schedule for internal and external publication (Formatting)
Manual process involving re-keying data into Excel
Automate earnings revenue schedules and financial statements at a push of a button
250 hours per quarter
GL and Reporting Structure Team spends approximately 100 hours per quarter analyzing system entries and building reports.
Accelerated close to disclose process
100 hours per quarter.
© 2013 Citrix | Confidential – Do Not Distribute
PROJECT TEAM Senior Executive
Sponsor Chief Financial Officer
Core
• Project Manager(s)
• Functional Lead
• Technical Lead
• Organization Readiness Lead
• Director Accounting Systems
•Sr Director Controller
•Accounting Manager (3)
Change
Review
Board
• Director Accounting Systems
•Sr Director Controller
IT Business
Decisions
• Business Process Changes
• Project Approvals
• Project Change Requests
• Resource Changes
• Task Assignment
• Risk & Issue Management
• Change Management
Steering
Committee
•WW Ops VP
•SAP Practice Director
• VP & Corporate Controller
•Director Accounting Systems
•Sr. Director Controller
• Budget Approval
• Schedule Approval
• Scope Approval
• Communicate Vision
• Communicate Objectives
• Final Decisions
Responsibilities
• Project Change Control
• Advisory Board Communications
• Issue & Risk Escalations
• Project Management
• Standards & Guidelines
• Status & Communication
• Resource Coordination
• SAP FICO Analyst (1)
• XenApp resource (2 part time)
• Basis (1 part time)
•Secutiry (2 part time)
•BW resource
• Trainor
• Test Lead (1)
Expert
• Consolidation Subject Matter Experts (3)
•Accounting Systems Experts (2)
• Report Users (10)
•SOX Team (2)
• Requirements
• Design
• Development & Testing
• UAT & Training
• Subject Matter Expertise
Team
Advisory
Board
Inte
rnal
Au
dit
Escala
tions • SAP Practice Director
• Requirements
• Design
• Development & Testing
• UAT & Training
• Subject Matter Expertise
© 2013 Citrix | Confidential – Do Not Distribute
Factors for success
Educate Team Early
Relationship between Citrix and System Integrator
Implement Buddy System
Coach Team
Make Decisions Quickly
Educate SOX and Internal Audit Early
Determine Core Reports Ensure Organizational
Readiness
GET INFO
DECIDE ACT
© 2013 Citrix | Confidential – Do Not Distribute
Next Steps
10
• More input schedules
• SAP HANA?
• Fully rollout statutory reporting
• Publish more reports
© 2013 Citrix | Confidential – Do Not Distribute
Critical to Success
12
Educate the team early
Build relations between Citrix
and System Integrator
Implement buddy system
Coach team .
Make decisions quickly
Educate SOX & Internal Audit
Early
Determine Core Reports
Organization Readiness
© 2013 Citrix | Confidential – Do Not Distribute Citrix Confidential - Do Not Distribute
Consolidations System Project • Consolidate over 90 entities in SAP’s ECCS module
• ECCS was deployed in 2001
• ECCS reporting platform leverages SAP’s 20 year old report
writer technology
• ECCS is a legacy product, SAP will support ECCS but not
enhance it (in 2010 Citrix identified program flaw requiring
SAP to extend code)
• ECCS only consolidates one ledger, cannot consolidate
for IFRS or statutory reports
• Team spends approximately 100 hours per quarter
analyzing system entries and building reports.
• Consolidate over 90 entities and three ledgers – including
SEC, IFRS and statutory
• Utilize consolidations quadrant leading technology
• Utilize web and excel based reporting platforms –
Automate earnings revenue schedules and financial
statements at a push of a button
• Utilize supported and enhanced tool
• Utilize tool with wide ranging user base and communities
• Reduce time to close the books CLOSE TO DISCLOSE
• Reduction in time spent researching entries
• Reduction in time producing reports
• Analyze and produce data better and faster!
• Proactive rather than reactive monitoring of data
• Creation and maintenance of reports requires IT or Systems
resource
• ECCS does not provide simple drill down required for
research. Research often requires interaction with Business,
Systems and IT resources.
• Earnings books must be produced in SAP BW, updates for
product launches, new entities, and GL accounts must be
made by a System resource.
• Manual report formatting is required for reports produced from
report writer and BW (requires re-keying of information in
Excel)
• SAP has been required to update their code, tables were not
updated with consolidated data
• Reduce business dependency on IT and Systems staff
• Business to write reports with minimal support of Systems and
IT resources
• Eased research ability through drill down to source system
• Ability for system to evolve with business growth, regulatory
changes, and technology advances
• Reduction or elimination of need IT resources to build reports
• Less touch points allowing for reduction of errors
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