Learn how to reduce costs and increase accuracy of financial reporting by implementing a solid close, consolidate, report and file (CCRF) strategy. View the webinar video recording and download this deck: http://www.senturus.com/resources/streamlining-financial-statement-reporting/.
See a demo of how IBM Cognos Financial Statement Reporting (FSR) provides collaborative reporting and electronic filing of financial reporting documents (e.g. 10-K, annual reports, regulatory reports).
Senturus, a business analytics consulting firm, has a resource library with hundreds of free recorded webinars, trainings, demos and unbiased product reviews. Take a look and share them with your colleagues and friends: http://www.senturus.com/resources/.
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Streamlining Financial Statement Reporting
1. Streamlining Financial Statement
Reporting
The âlast mileâ of the
Close, Consolidate, Report and File (CCRF) Process
www.senturus.com
Helping Companies Learn From the Past, Manage the
1 Present and Shape the Future
2. This slide deck is part of a recorded webinar.
To view the FREE recording of this entire
presentation and download the slide deck, go to
www.senturus.com/recorded-webinars.php
You will find thisâand many other recorded webinars-- under the âIBM Cognos Office
of Finance Solutions: TM1, EP, Controller, FSR â
2
3. Agenda
âą Introduction
âą Close, Consolidate, Report and File
(CCRF) Overview
âą Demonstration of Cognos FSR
âą Next Steps
âą Q&A
3
4. Welcome and Introduction
Greg Herrera
CEO
Senturus
Gary Kantz
National Practice Director, Consolidations and Reporting
Senturus
Clark Muse
WW Channels for Cognos FPM/FSR
IBM
Louis Robinson
Solution Specialist , Cognos FPM/FSR
IBM
4
5. Who is Senturus ?
âą Consulting firm specializing in Corporate Performance
Management
â Office of Finance
âą Consolidate, close, report and file (CCRF)
âą Enterprise planning & budgeting
â Business Intelligence
â San Francisco Business Times Hall of Fame -- Four
consecutive years in Fast 100 list of fastest-growing
private companies in the Bay Area
âą Experience
â 12-year focus on performance management
â More than 1,000 projects for 500+ clients
â IBM/Cognos Premier Partner
âą People
â Business depth combined with technical expertise.
Former CFOs, CIOs, Controllers, Directors...
â DBAs with MBAs
5
8. Current Challenges Within the Office of Finance
ï§ Pressure to shorten the close process
ï§ Translating local currencies of their subsidiaries into the base currency
of the entire enterprise.
ï§ Conversion from local accounting principles to US Generally Accepted
Accounting Principles (GAAP).
ï§ Elimination of intercompany transactions between subsidiaries
ï§ The ability to produce meaningful, dynamic reports that can be used
for making critical management decisions and financial analysis
ï§ Establishing controls mandated by government agencies (for example,
the Sarbanes-Oxley act, or âSOXâ)
ï§ Transmission of government reports in electronic format as
mandated by the SEC and other agencies
8
9. Automation of Key Processes â âCCRFâ
CLOSE CONSOLIDATE REPORT FILE
Data collection Currency Financial reporting Annual and
translation quarterly reports
Close accounting Management
systems Eliminations reporting Government
reporting
Account Automated Financial analysis
reconciliation company and top- Electronic filing
side journals Business (XBRL) and
Intercompany intelligence Edgarization
transactions Rollup of entities
and custom Financial
Journal entries dimensions Presentations
Finance and Accounting Reporting and Analytics Governance
Consolidation, BI, Collaborative
Consolidation
ERP System Collaborative Reporting
Solution Reporting Solutions Solution
9
10. Results of a Solid CCRF Strategy
âą A shorter, more efficient financial close
âą Better internal controls
âą Automation of key processes
âą Easy, secure application deployment
âą Reducing dependency on manual processes
10
11. DEMO OF INTRODUCTION TO COGNOS FSR
This webinar includes a demonstration of Introduction to
Cognos FSR. See the recorded webinar to see and hear the
complete demonstration.
Go to the Senturus website:
www.senturus.com/recorded-webinars.php
You will find this free recording under the IBM Cognos Office of Finance Solutions:
TM1, EP, Controller, FSR section. It is entitled Streamlining Financial Statement
Reporting.
11
12. Senturus Upcoming Events:
âą February 15, 2012 â Insight into Net Profitability
Free Webinar 10:00 AM -11:00 AM PST
â During this webinar, we will show you how to gain insight into the true drivers of profitability
across your enterprise.
âą March 15, 2012 âAutomating the Consolidation & Close
Processes
Free Webinar, 10AM -11:30 AM PST
â Reduce errors, inefficiencies and limited insight caused by using spreadsheets for
consolidating multiple chart-of-accounts, foreign currency translation, journals and reporting.
âą The Pain of Closing the Books (and Prescriptions to Make
it Painless) Whitepaper
By Gary Kantz
Download this whitepaper and many of our other learning resources
http://senturus.com/recorded-webinars.php
12
13. Contact Information
Need more details?
Chris Fargo
cfargo@senturus.com
(510) 473-7096
13
14. This slide deck is part of a recorded webinar.
To view the FREE recording of this entire
presentation and download the slide deck, go to
www.senturus.com/recorded-webinars.php
You will find thisâand many other recorded webinars-- under the âIBM Cognos Office
of Finance Solutions: TM1, EP, Controller, FSR â
14
Hello. Welcome to the first installment of the Close Consolidate Report and File series. In todayâs session we will discuss the âlast mileâ of the CCRF initiativeâFinancial Statement Reporting.
After a quick introduction of the team, weâll give an overview of what the CCRF is and how Financial Statement Reporting fits in. Weâll then have our partners at IBM give a demonstration of Cognos Financial Statement Reporting (FSR). Next, weâll share potential next steps you may want to take move your company toward streamlining your Financial Reporting.Weâll wrap with a Q&A session that will address the questions not already covered interactively during the webinar.
Iâll now hand the floor over to Gary Kantz so he can provide the context for todayâs session with a quick overview of the close, consolidate report and file process. Gary?