Challenge

  • picture3Difficulty extracting critical business information from the General Ledger for financial analysis and management reporting
  • Significant reliance on Excel for the Consolidation and Financial Planning Process resulting in manually intensive process (include complex Cash Flow)
  • Need for robust, timely, and accurate information to satisfy senior management’s financial reporting and analysis needs
  • Lack of analytic reporting capabilities surrounding currency analysis and GL detail
  • Improved accuracy and accountability in the planning process

Solution

  • Establish a flexible and scalable Planning and Consolidation platform
  • Implement a global consolidations system, creating one uniform consolidation process
  • Single chart of accounts, Multi-Currency analytics, Operational P&Ls (FX Neutral)
  • Location, Community, Cost Center level detail
  • picture4Automate Cash Flow, Allocations, (Admin Fees, Royalties, S&W etc.), Metrics/KPI Reporting
  • Implement FDM to automate data transformation process for multiple locations/source systems
  • Produce consolidated financial reporting package allowing end user access for ad-hoc analysis
  • Redefine the planning process to leverage Planning best practices
  • Build a driver-based Planning solution that supports integrated P&L, BS, Cash Flow, and Workforce models along with supplemental data input

The solution has been running in production since 2007

Benefits

  • “One version of the truth” for all planning, consolidations, reporting, and analysis needs
  • Streamlined and automated the ETL, analytic and reporting environment for the entire consolidation process (reduction in close days, greater visibility, etc.)
  • Improved the FP&A team’s ability to efficiently and effectively support planning, reporting, and analysis requirements driven by internal and external stakeholders

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