Part 3 Energize Webinar Deck

www.trintech.comwww.trintech.com

TransformingTransformingthethe LAST MILELAST MILE ofof

FINANCEFINANCE

Theresa Clark - VP, Finance TransformationSteve Dalton - Solutions Manager, Professional Services

April 19, 2012

Theresa Clark - VP, Finance TransformationSteve Dalton - Solutions Manager, Professional Services

April 19, 2012

Energize - Create VisibilityPart 3 of a 4 Part Series

Energize - Create VisibilityPart 3 of a 4 Part Series

Today’s PresenterToday’s Presenter

Theresa Clark – VP Finance Transformation

CPA

Former partner of Andersen, LLP and managing Director

at BearingPoint

Seasoned finance professional with over 20 years of

finance experience leading finance transformation,

financial close improvement and post merger integration

for major companies.

Specialist in transforming compliance, reconciliation and

close financial processes

Member of the American Institute of Certified Public

Accountants

Who is Trintech?Who is Trintech?

Trintech is a leading

provider of integrated

solutions for The Last Mile

of Finance.

Our solutions optimize the

entire Record-to-Report

cycle resulting in

transparent financial

measurement and

governance.

• Over 650 Industry leaders

use Trintech

• 26 of the Fortune 50

• 100+ of the Fortune 500

What Does Energize Address?What Does Energize Address?

I. The Last Mile – Quick Recap of the Issues

II. The Goals

III. Overview of the Transformation Stages

for the Last Mile of Finance

IV. Energize – Migrating to Automation Global close calendar Tasks and procedures Work flows Collaboration tasks Reference documents Binders Reporting

VI. Work plan

VII. Questions

EnergizeMigrating the existing closecalendar and tasks into aclose solution. Providing theteam with capacity andvisibility.

What is the Last Mile of Finance?

Inform

C

Prepare&

Report

GroupClose

GL Close

& Consolidate

Local Close

Plan Scope Schedule Report Forecast

Plan

Procure to Pay

Order to Cash

ACCURACY CONTROLS TIMELINESS

THE BRIDGE TO REPORTING TRANSPARENCY

Budget

Comply

Perform Manage

The Interdependencies of the Last Mile of FinanceThe Interdependencies of the Last Mile of Finance

GL

Rec

ons

Ope

ratio

nal

Rec

ons

Clo

se +

R

epor

ting

ManagementReviewer/Supervisor

Performers

Com

plia

nce

40 + DaysQ start Q end

90 days

Import tasks & controls

Schedule tasks

Perform

Monitor Roll forward

Review File

Support inE-Record

Form10Q10K

Taxonomy Tagging XBRL Filing

XBR

L

Scope Auto Schedule tasks

Perform compliance tests

Remediate

Report & Certify

Redesign

E-Record

Design & Establishcontrols

Review & Monitor

Assign & Schedule

Audit/External

Reconcile & research

Monitor/Review/Approve

Remind, escalate

Report, Analyze, Support

Prepare

-10 days

Remind, escalate

Research & Resolve

Manage exceptions

Load Balances

Auto match

Adjust & Balance

Report, Analyze, Support

Load balancesVerify complete

Manage issues

Ledgers

Performers

What are the Goals of Finance Transformation?What are the Goals of Finance Transformation?

Confident

Business Goal: An Automated and Standardized Finance Process

Streamlined Agile

Accuracy of the Foundational Numbers• Monitor key controls• Enterprise collaboration• Better information = better

decisions• Isolate and escalate issues rapidly

Standardize and Consolidate Processes• Focus on value-added activities• Improve service levels• Train employees faster• Automation = more work by

fewer people including SSC’s

Supportive Environment for

Enterprise Growth• Rapid integration of acquisitions• Smoother transitions• Framework to support new

initiatives (XBRL, IFRS, TAX)

Lack visibility into processes

Desire for top down approach

Unacceptable level of risk

Uncertain

Cycle times too longOverlapping requirements

Stressed personnel

Inefficient

Lack flexibility to absorb changes

Turnover is disruptive

InflexibleThe Drivers of Change

Polling Question #1Polling Question #1

The most difficult part of starting a close transformation

for my company is?

a. The time

b. The what - coming to consensus

c. The cost

Optimize

Energize

Analyze

Strategize

Where are We Within the Last Mile of Finance Maturity Model?Where are We Within the Last Mile of Finance Maturity Model?

Manual Process Improvements

• (Manual) detective controls & procedures

• Manual process improvements

• Legacy apps• Heavy spreadsheet use

• Email, Word, shared drives

Semi‐Automated Process

• Semi‐automated controls

• Point solutions for collaboration (e.g. SharePoint), process management and compliance

• Lack of controls across data streams

• No single view into close and reporting process

Manual Processes

• Disjointed processes• Legacy apps• Heavy spreadsheet use

• Email, Word, shared drives

Fully‐Automated& Optimized

• Best practices• (Automated) preventive controls embedded into business process

• Consolidated view into close & reporting process

• Fully integrated with XBRL, close, exception mgt, reconciliations, and compliance

• Automated and collaborative global workflow

• Real‐time process optimization

Efficiency, Transpa

rency, Qua

lity

Cost of Finance, Risk

TODAY WE ARE HERE

Energize: Global Close CalendarEnergize: Global Close Calendar

Standing Up The Global Close Calendar

• Populate the close calendar

• Recognize and input different close calendar for

different filings

• Recognize and adjust for the differing holiday

schedules for different regions

• Establish differing calendars – month, quarters,

annual

• Establish a set of close days to be used by all

groups (e.g. day -1, day 0…)

• Map the close days to the calendar

Energize: Creating Action Plans for Close TasksEnergize: Creating Action Plans for Close Tasks

Establish Close Tasks in Scheduler

Upload existing task list to schedule

Identify task types – e.g. JE, analysis, memo

Edit the desk procedures to provide specific

instructions

Use questions to gather key data points

Sequence the task dependencies and link

tasks across functions

Flag key tasks – e.g. high risk, key control

Associate the task with accounts


My company’s close tasks are well defined and specific?

a. Yes – easily executed by new employee

b. Need work

c. No – highly dependent on employee knowledge

Energize: Enable Work FlowEnergize: Enable Work Flow

Establish Work Flows for Tasks Designate task timing – monthly, quarterly…

Define due dates for performers and approvers

Define approvers for each tasks

Stagger time zones accordingly

Move across time zones to take advantage of global clock

Designate escalation paths for tasks

Create automated notices for overdue notices and escalations

Energize: Reference DocumentationEnergize: Reference Documentation

Set Up Reference Links

Associate required reference documents with each

tasks (e.g. manuals, legal documents, rules)

Provide/require templates for documentation where

standard format desired

Use reference to provide detailed procedures if

required

Centralize references for ease of linking and updating

Energize: Select E BindersEnergize: Select E Binders

Select the E Binders for Task

• Define “Binders” desired for Close

• For each task select the desired binder(s) for

future reference– Close detail binder

– Prepared by client audit schedules

– Auditor binder

– Management book

• Define requirements for binders – Comments included?

– Attachments only for auditors

– Details for monthly post close review

Energize: Dashboards and Reporting Energize: Dashboards and Reporting

Configure Dashboards to Focus on Key Areas

• Use dashboards to monitor process and make course correction

– Daily task status

– Delays

– Issues

– Key accounts

• Use Reports for Details and Review

– Detailed reports on performance

– Review of all dependencies

– Customized views for specific managers


Implementation of close management automation at my company would improve visibility?

a. Slightly

b. Moderately

c. Significantly

Energize: Work PlanEnergize: Work Plan

Standard Best Practices Apply

Leadership & Ownership• Have plan signed off on by all key stakeholders.• Identify project manager and create capacity to manage project• Identify all key players including IT, interfacing users…• Dedicate time to user communication and acceptance

Design Documentation• Document all project design, requirements and decisions• Conduct a solution walkthrough to validate design• Carefully review data before migration/validate post migration

Communicate & Manage Change• Prepare support and users for roll out• Test performance over time and volumes pre/post go live• Wrap up and follow up

Questions?Questions?

Thank you for participating.

For further information please contact:

[email protected] (USA)+1 800 416 0075

[email protected] (EMEA)+44 (0) 207 628 5235

Continue the Conversation – Please register for the fourth and final in our new webinar series

Part IV: Optimize: When: Wednesday 5/23/2012

Time: 10:30 am Central Standard Time (Chicago, GMT-06:00)

4:30 pm GMT Time (London, GMT)

http://www2.trintech.com/l/3242/2012-02-01/b3nb8

www.trintech.comwww.trintech.com

TransformingTransformingthethe LAST MILELAST MILE ofof

FINANCEFINANCE

Thank YouThank You

Theresa Clark – VP, Finance TransformationSteve Dalton, Financial Solution Consultant

Part 3 Energize Webinar Deck

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