Mel Case Study

EPM Case Study

Goldman Sachs JBWere Mark Nottle Finance Systems Controller Goldman Sachs JBWere

Goldman Sachs JBWere

• Australasian pre-eminent financial services organisation • Providing quality investment, advisory, wealth management and execution services to a broad range of private, corporate and institutional clients. • 1,500 employees • Part of the Goldman Sachs Group

Budgeting – the old way • Process was predominantly spreadsheet based • Supporting schedules via excel, word email • Budget data loaded into Oracle eBusiness Suite (General Ledger) • Reporting via Oracle GL

The journey Evaluating Budgeting Solutions • Evaluating systems in 2005 • Commenced project Feb 2006 Implemented Hyperion System 9 • Several months of data analysis and detailed business requirements • Initial build on Hyperion System 9 • Cost allocations tool

Deployment FY07 First Budget Cycle • Go Live: August 2006 • 100 users

•9 drafts (only 2 drafts in FY06) • Supported by James & Monroe • Internal Training by GSJBW

Why Hyperion Planning? • User Interface – User friendly interface – Input forms and task lists set up and owned by GSJBW

• Hyperion provide “train the trainer” • Single sign-on with Microsoft Active Directory • Real-time reporting of the budget model for end-users and reviewers (Hyperion Workspace) • Essbase • Forecasting – changes in market conditions • Minimal IT support (server infrastructure only)

Why Hyperion Planning? For the Budget process • Multiple drafts (including allocation runs) • Able to use comparative data (prior year actuals, calculated forecast columns) • Budget stays open during review cycles • Security access by Business Unit, Geographical Location and Account • Supporting detail worksheets held within the system • Workflow notifications for approvals

Why Hyperion Planning? Calculation and Modelling Features • Modelling key drivers: – Head count – Phasing based on Trading days, Business Days

• Built-in calculations – PRT, FBT, Depreciation on CapEx, Travel

Oracle Financials • Planning remains the formal budget system of record • “Member hierarchies” (account definitions, business unit structure, etc) based on Oracle Financials structures – Scheduled ETL process custom-built by James & Monroe

• ASO database for enhanced reporting and analytics of Oracle Financials data

Project Success • Business and Management Buy-in • Dedicated project team • Bed down business requirements in planning phase • Project to determine Go Live not vice versa • Consultants: rely on Hyperion knowledge • Scope Creep

EPM Case Study

Goldman Sachs JBWere Ben White Principal Consultant James & Monroe

About us

• Specialist Oracle EPM consulting partner • Commercial background • Consultants with 10+ years’ experience with the core components of Oracle EPM

Our engagement • Methodology • Phased implementation • Focus on Knowledge Transfer

The implementation Oracle EPM: Hyperion Planning • Extending Oracle eApplication Suite (Oracle Financials General Ledger) • Detailed budget by Account, Cost Centre, and Project Code • 100 budget users • Modelling: – Foreign Exchange – Centrally-budgeted items

• Managed Workflow

Extending Planning: Allocations • Allocating back-office costs to front office • Previously... – Took 2 to 3 days to complete – Extremely error-prone

• Allocation module developed by J&M – Automatic validation – Under 1 hour to complete

• Based on Oracle’s Hyperion Planning • Developed as an Oracle Fusion application • Fully integrated with Planning

EPM Approach

Integrated Management Process

Start Anywhere Approach

Business Intelligence Oracle EPM: Hyperion Essbase • Full-detail Reporting & Analysis of Oracle Financials General Ledger data – Standard monthly report packs – Speed-of-thought analysis in Excel

• Corporate Card Expense Analysis

The future • New Business Intelligence applications • Statutory Consolidations and Financial Reporting • Balance Sheet Substantiation

EPM Case Study

Goldman Sachs JBWere James & Monroe

Q&A