2011 CAUBO Finance Presentation - Nat D'Ercole - Final - June 18
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Transcript of 2011 CAUBO Finance Presentation - Nat D'Ercole - Final - June 18
Presenting Complex Financial
Canadian Association of University Business Officers
© 2011 Deloitte Touche Tohmatsu
June 2011
Presenting Complex Financial
Information
Speaker Profile
Nat D’Ercole is an associate partner at Deloitte and a leader in Deloitte’s Information Management & Analytical Technologies practice with a specialization in Performance Management Technology.
He brings 18 years of consulting experience in information transformation projects across various industries in fortune 100 as well as public sector and projects across various industries in fortune 100 as well as public sector and mid-market clients.
Nat leads transformation programs by engaging senior leaders to define their target information needs, processes, governance and overall business performance improvements.
As a result, Nat’s clients have improved their transparency, cycle time and controls over financial, management and operational information to enable improved decision support. Nat is a graduate of the Schulich School of Business, and holds a CPA, and a CA with a specialization in information technology.
© Deloitte & Touche LLP and affiliated entities.
Agenda
• Recap – 2010 CAUBO Finance Survey Results
• Information Management Challenges and Preparing Your
Business Case
• Capabilities and Business Analytics Maturity Model
© Deloitte & Touche LLP and affiliated entities.
• Capabilities and Business Analytics Maturity Model
• Information and Data Management – What’s Important
• Technology Architecture for Dummies – What’s Important
• Your Roadmap and Best Practices for Getting Started
• Appendix
2
CAUBO Finance Survey Results 2010
© Deloitte & Touche LLP and affiliated entities.3
Deloitte’s Global Survey: Mastering Finance in Government
Defining the Roles of Finance
Setting direction in order to
enhance business
performance and
shareholder value. Provide
financial leadership in
determining strategic
Stimulate behaviors across
the organization to achieve
strategic and financial
objectives while at the
same time achieving a risk
intelligent culture.
The roles of a CFO or the “four faces” of a CFO as defined by Deloitte’s Finance Transformation Framework
were used to understand the challenges facing the finance function in government organizations and how the
finance function is evolving to improve the whole organization’s performance.
Threshold
performance
Leading edge
© Deloitte & Touche LLP and affiliated entities.
determining strategic
business direction.
Balance capabilities, costs
and service levels to fulfill
the finance organization’s
responsibilities efficiently.
Protect and preserve the
assets of the organization
and accurately report on
the financial position and
operations to internal
stakeholders and external
stakeholders.
intelligent culture.
As organizations evolve their finance functions, they move from an environment where finance plays the role
of a steward/operator to that of where they are more of strategist/catalyst.
4
CFO Focus
Triangle
CFO Focus
Triangle
Financefunction
2011 – CAUBO Finance Presentation
CAUBO 2010 Survey Results
Framework for Results
• CAUBO respondents were compared to Sector
Peers in the Education Sector:
Comparator Groups Number of
Respondents
CAUBO Survey
Respondents20
• Responses to survey questions were given on a
scale of 1-5, based on the respondents’
assessment of maturity in the rated functional
areas:
Maturity Level Description
Leading practices thoroughly embedded in
• Based on the responses to the survey questions, CAUBO respondents were compared to
respondents from both the Global Education Sector and to those classified as Finance Masters.
© Deloitte & Touche LLP and affiliated entities.
• Respondents were also compared against
participating government organizations that have
been classified as Finance Masters. Finance
Masters are organizations with a finance function
that supports the business in making strategic
decisions and that acts as a catalyst for change,
built on a foundation of excellence in finance
stewardship and operations.
Respondents
Sector Peers –
Education Sector44
5: Leadingprocesses; tools with internal and external
data to support processes. Real-time
information.
4: Advanced
Leading practices introduced. Enterprise
integration of processes and internal data.
Widespread automation.
3: BaselineStandardized process. Some integration
across enterprise. Moderate manual effort.
2: DevelopingProcess capability partially defined. Different
approaches used in the organization.
1: Non-existentCapability not in place in any structured
sense.
5 2011 – CAUBO Finance Presentation
CAUBO 2010 Survey Results
Improving Financial Performance
CAUBO Education Sector Finance Masters
Top Five Important Areas to Improve over the Next Three Years
• Each comparator group ranked ‘Improve decision-making capability’ as the most important area
to improve financial performance over the next three years.
• Both the Education Sector and Finance Masters ranked ‘Improve transparency & integrity of
financial information’ as the second most important area to improve financial performance over the
next three years, while CAUBO did not rank this area in the top five.
• CAUBO is the only group that identified “Grow service / non-tax revenue” in the Top 5 area to
improve over the next three years.
© Deloitte & Touche LLP and affiliated entities.6
1. Improve decision-making
capability
2. Reduce transaction processing
costs
3. Improve supply chain
(efficiency of procurement-to-
payment process)
4. Grow service/non-tax revenue
5. Reduce administration
expenses
1. Improve decision-making
capability
2. Improve transparency &
integrity of financial information
3. Reduce transaction processing
costs
4. Reduce administration
expenses
5. Improve supply chain
(efficiency of procurement-to-
payment process)
1. Improve decision-making
capability
2. Improve transparency &
integrity of financial information
3. Reduce administration
expenses
4. Improve asset management
5. Reduce transaction processing
costs
6 2011 – CAUBO Finance Presentation
CAUBO 2010 Survey Results
Barriers to Performance
CAUBO Education Sector Finance Masters
Top Five Barriers to Performance
• The top five barriers to performance were consistent across all Comparator Groups, with a few
exceptions.
• CAUBO ranked ‘inadequate investment in finance function’ as one of the top five barriers to
performance, while both the Education Sector and Finance Masters did not.
• “Lack of integrated risk management” was a barrier for Finance Masters and Education Sector,
however was not identify by CAUBO.
© Deloitte & Touche LLP and affiliated entities.7
CAUBO
1. Spiraling structural cost (e.g.,
healthcare, pensions,
infrastructure)
2. Lack of up-to-date information
for strategic decision-making
3. Lack of process standards,
clarity or discipline
4. Lack of real-time information
for operations and execution
5. Inadequate investment in
finance function.
Education Sector
1. Spiraling structural cost (e.g.,
healthcare, pensions,
infrastructure)
2. Lack of process standards,
clarity or discipline
3. Lack of up-to-date information
for strategic decision-making
4. Lack of real-time information
for operations and execution
5. Lack of integrated risk
management
Finance Masters
1. Lack of process standards,
clarity or discipline
2. Lack of up-to-date information
for strategic decision-making
3. Lack of real-time information
for operations and execution
4. Lack of integrated risk
management
5. Spiraling structural cost (e.g.,
healthcare, pensions,
infrastructure)
7 2011 – CAUBO Finance Presentation
Improvement Opportunities
CAUBO Focus Areas
• Within each of the four faces of the CFO, CAUBO is performing below the Education Sector and at a
level lower than ‘Baseline, in the following areas:
CFO Role Improvement Area
Steward 1. Define management reporting requirements
2. Conduct environmental scan and risk analysis
3. Identify, manage and report risks
Operator 4. Capital asset planning and resource allocations
© Deloitte & Touche LLP and affiliated entities.8
Operator 4. Capital asset planning and resource allocations
Strategist 5. Establish performance measurements
6. Performance target setting
Catalyst 7. Support business analysis
2011 – CAUBO Finance Presentation
• 6 out of 7 improvement priorities directly relate to a need to improve information management and
analytics practices in order to move towards a Finance Masters maturity level.
Information Management Challenges and Preparing Your Business Case
© Deloitte & Touche LLP and affiliated entities.
Your Business Case
9
Information challenges that organizations
are trying to overcome:
What reporting problems are organizations trying to solve?
• Limited flexibility in
ease of analysis
Analyzing &
Presenting
Accessing &
Transparency
© Deloitte & Touche LLP and affiliated entities.
• Makeshift assembly &
effort for ad-hoc
• Increase compliance
reporting
• Processes not efficient
enough to absorb new
or increase report
activity without adding
staff
• Cut and paste into
word and PowerPoint
docs
• Email distribution
• Unable to get desired
level of detail or desired
view
• Inability to track data to
its source or drill from
summarized to detail
•Unable to view
information across
function areas
• Information in various
systems & format
•Significant effort to find
format information
• Inconsistent definitions
and rules
•Multiple views of the
“truth” – information
accuracy
• Lack of integration
between systems
sharing the same data
• Information not
captured consistently or
complete
• Information not
available in a timely
manner based upon
business needs
Capturing &
Storing
Transforming
& Validating
10 2011 – CAUBO Finance Presentation
Why solve these reporting problems?
© Deloitte & Touche LLP and affiliated entities.11 2011 – CAUBO Finance Presentation
Analyze &
Present
Effort
Spent GOALS
• Speed to information
• Speed to analysis
• Speed to reporting
• Speed to disclosure
Representative CAUBO Financial
Reporting Areas
• external disclosure reporting (audited)
• revenue and expenses by category
• cost allocation models
• internal fund accounting reporting
• endowment reporting
• enrollment reporting
• pension plan reporting
• staff planning
Workarounds represent a vast and unmeasured cost, managerial burden and source of quality and speed problems
Capture &
Storage
Transform &
Validate
Access &
Transparency
Capture &
Storage
Analyze &
Present
Transform &
Validate
Access &
Transparency
Activities of
highest
business value
Current Future
Time
• staff planning
• space reporting
• financial budgeting / forecasting
Common Information Challenges
• Availability and timeliness of information
• Aligning effort with value
• Excessive manual collection efforts
• Multiple iterations, reconciliations, tick and ties
• Efforts focused on “chasing” discrepancies
• Poor integration of planning spreadsheets
• Email distribution of static reports
• Frequent manual cut and paste
• Different data definitions and lack of data
governance across the organization
• Little time for higher-value analysis
12 © Deloitte & Touche LLP and affiliated entities.
� Defining information needs based on the decisions that need to be made rather
than by the reports that are expected to be delivered
� Leveraging leading indicators to signal trouble ahead and enable the planning of
potential mitigating actions
� Driving global, consistent performance measures to all levels of the organization
and integrating into all elements of the performance management process
� Partnering with the IT organization and taking ownership of the collection and
What leading companies are doingD
� Partnering with the IT organization and taking ownership of the collection and
governance of financial data including standardizing data definitions, systems and
processes across the organization
� Incorporating strategic planning, budgeting, variance analysis, and management
reporting as part of an integrated cycle versus independent financial cycles
� Effecting a cultural shift and driving the rigor required to shift from stale planning
methodologies to driver-based planning
� Linking compensation to forecast accuracy versus beating the forecast
Enabling CAUBO’s Improvement Priorities through Integrated Performance Management
Strategy
Planning
Strategy
Planning
Intervention
Forecasting
PLANand Target
INTERVENE and Realign
“Strategist Priority”“Operator Priority”
“Are we measuring the
right things?”
“Are we making
appropriate capital and
resource allocation
Decision support is a function of a continuous and integrated process
© Deloitte & Touche LLP and affiliated entities.14
Budgeting
Operational ReportingManagement
Reporting
External Reporting
Analysis
ValueCreation
MEASURE and Evaluate
“Operator Priority”
“How can I deliver
information most
efficiently?”
“Catalyst Priority”
“Steward Priorities”
2011 – CAUBO Finance Presentation
“Are we spending
enough time to support
business analysis and
effect change”?
“Information quality – are
we reporting with the best
available information
within the organization?”
right things?”resource allocation
decisions?”
IPM is an integrated approach to improve Information Effectiveness – Get ready to prepare your business case
Tools
Process
People
• Enabled to be analytical
• Empowered to make decisions in a
decentralized environment
• Collaborative across all business
functions and processes
Information
Effectiveness
• Scales to support growth
• Standardized to lower
support costs and risks
• Matched to the information
needs of the organization
• Widely adopted
© Deloitte & Touche LLP and affiliated entities.15
Data• Captured across the organization
• Conformed and standardized to
support comparability
• Accurate, complete and integrity
preserved
Process• Integrated across the
enterprise
• Efficient data entry, analysis and
reporting
• Controls to ensure integrity and
security
Effectiveness
An effective information environment is one where people are empowered to access and use
information, processes are efficient in capturing and sharing information, governance is effective in
maintaining a current and reliable data architecture and the right use and mix of technology enables the
system to be efficient and secure.
2011 – CAUBO Finance Presentation
Benefits are usually expressed more so in terms of intangible rather than tangible enterprise value
Efficiency
Cost Savings
Effectiveness
Business ImprovementRisk Reduction
Leanness Standards Accuracy GovernanceAccuracy Agility Availability
Typical Benefits
© Deloitte & Touche LLP and affiliated entities.
Better information leads to Better information leads to more accurate decision
making
Increase responsiveness to emerging opportunities
Minimize mechanics and improve timeliness of
information availability –where and when needed
Reduce process cycle time and improve staff productivity
Standardize and improve enterprise wide processes and data to reduce non-
value activities
Improved quality and integrity of data for compliance
Improved governance structure for
maintenance and translation of
transaction data
16 2011 – CAUBO Finance Presentation
How do leaders justify investments to improve information effectiveness?
• Many don’t understand the real cost of current “information processes”
• Information management processes are not given the same attention
given as other business processes
• When building Information Management businesses cases, organziations
© Deloitte & Touche LLP and affiliated entities.17
• When building Information Management businesses cases, organziations
often focus only on what they can see
• Many wish they had the ability to develop more thorough business cases
• Those who are more thorough, consistently achieve better results
2011 – CAUBO Finance Presentation
Executives realize that in retrospect they should have considered many (other) dimensions more fully
© Deloitte & Touche LLP and affiliated entities.18 2011 – CAUBO Finance Presentation
Strategically thinking about the value of Information to the enterprise is key
• The ability to produce relevant, timely, and accurate information is a
competitive advantage
• It requires the same intense focus that has been afforded to other
business processes and assets
• Embrace information management capability as a strategic asset and an
enterprise imperative
• Think broadly when you assess the value of improved information quality
© Deloitte & Touche LLP and affiliated entities.
• Think broadly when you assess the value of improved information quality
• Look closer, look further when analyzing the costs of current approaches
and the benefits of improved information management capabilities
• Persist and overcome the inertia that holds back much needed
improvements
• Identify a business sponsor to ‘pilot’ a solution and demonstrate linkages
back into the organization enterprise
2011 – CAUBO Finance Presentation1919
Four key benefit categories emerge in most information management initiatives
Decision
Support
� Shorten Cycle Time
– reduce “time to
� Standardization –
improved process,
people and
technology cost
efficiencies
� Alignment – organization
common focus on
strategic goals and
objectives
� Accountability – able to
measure business and
ProductivityEngagement /
Collaboration
� Transparency – clear
view of financial and
operational performance
� Agility / Flexibility – able
to quickly respond to
market shifts, allowing
Risk Mitigation
� Compliance – meet 3rd
party information
requirements or
standards
� Integrity - completeness,
accuracy and security of
© Deloitte & Touche LLP and affiliated entities.20
Consider improvements in decision-making, productivity, collaboration and risk mitigation
when building your business case for improving information effectiveness.
– reduce “time to
information” and “time
– to-design”; convert
savings to value
added processes
measure business and
individual performance
throughout organization
against Key Performance
Indicators (KPI’s) that
represent strategic goals
� Transparency – shared
view of financial and
operational performance
managers to effectively
manage performance
� Integrity – completeness,
accuracy and security of
information
� Comparability – able to
compare results and
forecasts across the
business
accuracy and security of
information
� Continuity – ability to
provide timely and on-
going information
requirements regardless
of changes in the
business structure,
changes in management
or changes in key
resources
2011 – CAUBO Finance Presentation
Making the shift towards business analytics
It’s time to take control of spiraling structural costs over transaction processing,
reporting and decision support and enable greater benefits with business
analytics.
Threshold
performance
Leading edge Efficient finance operations result in
greater capacity Ishifting resources
to serve the catalyst’s and
strategist’s priorities.
© Deloitte & Touche LLP and affiliated entities.
CFO Focus
Triangle
CFO Focus
Triangle
Financefunction
“Change what you do”
Finance Governance starts here,
forming the foundation of a thriving
finance function through investments
in Reporting and Analytics.
“Do what you do better”
21 2011 – CAUBO Finance Presentation
Capabilities and Business Analytics Maturity Model
© Deloitte & Touche LLP and affiliated entities.22
Transactional systems Data & business analytics
Over the last two decades, organization have been investing in both system ERP revitalization and best of
breed transactional systems. This has resulted in a significant increase in organized data — and a shift in
focus toward analyzing information and improving performance.
From “what I need to do” to “what I need to know”
Integrated core platform implementation
Front office systems
Back office / ERP systems
Advanced analytics
Performance management
Business intelligence
Data management
© Deloitte & Touche LLP and affiliated entities.
Looking back Looking forward
Understand Predict
Analyze Optimize
What happened? What will happen?
Slice & dice Discover & simulate
Key Performance
Indicators (KPI’s)
Key Performance
Predictors (KPP’s)
Operational reporting Uncommon insights
Pre
sen
t
Information value
23 2011 – CAUBO Finance Presentation
What Business Analytics capabilities are needed to deal with information complexity?
Advanced
AnalyticsForesight
High
Advanced Analytics is the use of modern data mining,
pattern matching, data visualization, and predictive
modeling tools to produce analyses and algorithms that help
businesses make better decisions.
Performance Management is an umbrella term that
Business analytics is the practice of using data to drive business strategy and performance. It includes a
range of capabilities – from looking backward to evaluate what happened in the past, to forward-looking
approaches like scenario planning and predictive modeling. It spans data management and business
intelligence up through performance management and advanced analytics.
© Deloitte & Touche LLP and affiliated entities.24
Hindsight
Performance
management
Business intelligence
Data management
Insight
Low
People / Organization
Decision Process
Technology
Strategy and Governance
Performance Management is an umbrella term that
describes the methodologies, metrics, processes and
analytical applications used to monitor and manage the
business performance of an enterprise.
Business intelligence is querying, reporting, OLAP, and
“alerts” that can answer the questions: what happened; how
many, how often, where; where exactly is the problem; what
actions are needed.
Data Management is the development and execution of
architectures, policies, practices and procedures that
properly manage the collection, quality, standardization,
integration and aggregation of data across the enterprise.
2011 – CAUBO Finance Presentation
Business Analytics Maturity ModelStage Strategy and Governance People/ Organization Decision Processes Information Processes Technology
Stage 1
Non-
Existent
�Minimal to no governance
over data, reporting and
analytics
� No executive awareness of
Business Intelligence or
Performance Management
� Little to no focus on
developing data management,
performance management
and analytic skills
� IT exists to support
transaction-oriented systems
� Experience-based
decision making
� Strategy based on
hindsight
� Lack unique data
oriented market insight
�Minimal focus on data capture
quality
� Data management practices;
centered around report or analytical
requests (reactive culture)
�Minimal to silo business intelligence
applications (IT based investments)
�Manual and spreadsheet -based
reports, budgets, forecasts,
analysis, scorecards , dashboards
and content storage
Stage 2
Developing
� Departmental vision for
Business Intelligence need
� Proof-of-value analytics
initiated at functional level
� BI Roadmaps begin to emerge
� Business and IT begin to
recognize need to manage
data strategically
� Functional business analyst
competencies begin to
emerge
� Power user adoption of apps
� IT begins to build data
management skills to support
business requests and drive
improved data access
� Decision-making based
on fact based
departmental information
� Awareness that
enterprise wide decision-
making is not based on
consistent information
� Controls over data capture quality
� Progress on development of critical
data management processes; but
highly departmental
� Use of KPIs, but not consistent
enterprise wide
� Desire for more forward looking
operational and finance information
� Departmental or IT driven
investments in BI, Planning and
Content management begin to
replace spreadsheets
� Need for a financial and operational
data foundation emerges by IT and
or Finance
Stage 3
Enterprise
Defined
� C-level and senior
management commitment to
business analytics strategy
�Governance model emerges
� Senior business roles for
business analytics begin to
emerge and analysts become
more process oriented across
� Decision-making based
on process oriented and
fact based KPIs
� Predictive analytic
� Enterprise wide and standard data
models emerge for reporting,
forecasting and content
management
� Enterprise standardization in BI,
Data Management , Planning,
Disclosure and Content
Management and Portal tools �Governance model emerges
to align business, BI systems,
and IT processes
� Performance Management
Roadmaps begin to emerge
more process oriented across
the enterprise
� Business leaders understand
their role in data accountability
� IT roles are established to
support data foundation
� Predictive analytic
processes begin to
emerge as a reaction to
internal or external
events or requests;
“reactive state”
management
� Driver-based operational and
financial models emerge
� Desire for predictive information
models
Management and Portal tools
� Investments in data marts and data
warehouse technologies supported
by the business (multiple sponsors)
� Isolated use of predictive and data
mining technologies
Stage 4
Advanced
� C-Level sponsorship to
integrate analytics into select
decision processes
� Executive endorsement for
competency center emerges
for long-term sustainment
� Roadmaps begin to include
predictive analytics initiatives
� Extensive investments in BA
training across the enterprise
� Collaborative, process
oriented teams emerge to
support business analytics
� Incentive and reward culture
linked to business analytics
begins to emerge
� Link strategic and
operational KPIs across
value chains to support
decision-making
� Analytics-driven insights
integrated into select
decision processes;
“predictive state”
� KPI trees embedded into the
information culture
� Integration of external data into the
enterprise data model (structured
and unstructured)
� Test-learn-improve cycle of
adopting & embedding predictive
analytics into key processes
� Initial adoption of data mining,
pattern matching, visualization, and
predictive tools into key processes
�Growing enterprise adoption of
information management and
analytical technologies; business
value of analytic tools is well
understood
Stage 5
Leading
� Business-IT governance
model is critical to continuous
improvement and mainstream
acceptance of analytics and
predictive modeling
� Improvement in the business
is driven by a continuous loop
from analytics to predictive
modeling, to planning &
performance management
� Annual roadmap updates
� Reward for analytics-driven
experimentation (test and
learn) solidifies culture change
� Teams seek new opportunities
to collaborate on analytic
processes
� Skill levels are sufficient to
develop reusable Business
Analytic approaches /
solutions
� Analytics-driven insights
are embedded into
decision-making
processes for competitive
advantage
� Predictive modeling is
embedded into planning
and performance
management decision-
making
� Data management processes
operating effectively to support
continuous loop business analytics
processes
� High quality data and reliable
information which can be easily
mined and “re-packaged “as
needed
� Business strategy drives additional
investments in business analytics
technologies
� IT leader understanding of business
strategy and application of relevant
technologies (beyond the CIO)
25
Business Analytics Maturity Model – Rate your organization
Stage Governance
Stage 1
Non-Existent
� Minimal to no governance over data, reporting and analytics
� No executive awareness of Business Intelligence or Performance Management
Stage 2
Developing
�Departmental vision for Business Intelligence need
�Proof-of-value analytics initiated at functional level
�BI Roadmaps begin to emerge
�Business and IT begin to recognize need to manage data strategically
Stage 3
Enterprise Defined
�C-level and senior management commitment to business analytics strategy
�Governance model emerges to align business, BI systems, and IT processesEnterprise Defined �Governance model emerges to align business, BI systems, and IT processes
�Performance Management oriented roadmaps begin to emerge
Stage 4
Advanced
�C-Level sponsorship to integrate analytics into select decision processes
�Executive endorsement for competency center emerges for long-term sustainment
�Roadmaps begin to include predictive analytics initiatives
Stage 5
Leading
�Business-IT governance model is critical to continuous improvement and
mainstream acceptance of analytics and predictive modeling
�Improvement in the business is driven by a continuous loop from analytics to
predictive modeling, to planning & performance management
�Annual roadmap updates
26 2011 – CAUBO Finance Presentation © Deloitte & Touche LLP and affiliated entities.
Stage People / Organization
Stage 1
Non-Existent
�Little to no focus on developing data management, performance management and
analytic skills
�IT exists to support transaction-oriented systems
Stage 2
Developing
�Functional business analyst competencies begin to emerge
�Power user adoption of apps
�IT begins to build data management skills to support business requests and drive
improved data access
Stage 3
Enterprise Defined
�Senior business roles for business analytics begin to emerge and analysts become
more process oriented across the enterprise
Business Analytics Maturity Model – Rate your organization
Enterprise Defined more process oriented across the enterprise
�Business leaders understand their role for data accountability
�IT roles are established to support a technical data foundation
Stage 4
Advanced
�Extensive investments in business analytics training across the enterprise
�Collaborative, process oriented teams emerge to support business analytics
�Incentive and reward culture linked to business analytics begins to emerge
Stage 5
Leading
�Reward for analytics-driven experimentation (test and learn) solidifies culture
change
�Teams seek new opportunities to collaborate on analytic processes
�Skill levels are sufficient to develop reusable Business Analytic approaches /
solutions
27 2011 – CAUBO Finance Presentation © Deloitte & Touche LLP and affiliated entities.
Stage Decision Processes
Stage 1
Non-Existent
�Experience-based decision making
�Strategy based on hindsight
�Lack unique data oriented market insight
Stage 2
Developing
�Decision-making based on fact based departmental information
�Awareness that enterprise wide decision-making is not based on consistent
information
Stage 3 �Decision-making based on process oriented and fact based KPIs
Business Analytics Maturity Model – Rate your organization
Stage 3
Enterprise Defined
�Decision-making based on process oriented and fact based KPIs
�Predictive analytic processes begin to emerge as a reaction to internal or external
events or requests; “reactive state”
Stage 4
Advanced
�Link strategic and operational KPIs across value chains to support decision-making
�Analytics-driven insights integrated into select decision processes; “predictive state”
Stage 5
Leading
�Analytics-driven insights are embedded into decision-making processes for
competitive advantage
�Predictive modeling is embedded into planning and performance management
decision-making
28 2011 – CAUBO Finance Presentation © Deloitte & Touche LLP and affiliated entities.
Stage Information Processes
Stage 1
Non-Existent
�Minimal focus on data capture quality
�Data management practices centered around report or analytical requests
�Reactive culture
Stage 2
Developing
�Controls over data capture quality
�Progress on development of critical data management processes; but highly
departmental
�Use of KPIs, but not consistent enterprise wide
�Desire for more forward looking operational and finance information
Stage 3
Enterprise Defined
�Enterprise wide and standard data models emerge for reporting, forecasting and
content management
Business Analytics Maturity Model – Rate your organization
Enterprise Defined content management
�Driver-based operational and financial models emerge
�Desire for predictive information models
Stage 4
Advanced
�KPI trees embedded into the information culture
�Integration of external data into the enterprise data model (structured and
unstructured)
�Test-learn-improve cycle of adopting & embedding predictive analytics into key
processes
Stage 5
Leading
�Data Management, Performance Management and Analytic data management
processes operating effectively to support continuous loop business analytics
processes
�High quality data and reliable information which can be easily mined and “re-
packaged “as needed
29 © Deloitte & Touche LLP and affiliated entities.
Stage Technology
Stage 1
Non-Existent
�Minimal to silo business intelligence applications (IT based investments)
�Manual and spreadsheet -based reports, budgets, forecasts, analysis, scorecards ,
dashboards and content storage
Stage 2
Developing
�Departmental or IT driven investments in BI, Planning and Content management
begin to replace spreadsheets
�Need for a financial and operational data foundation emerges by IT and or Finance
Stage 3
Enterprise Defined
�Enterprise standardization in BI, Data Management, Planning, Disclosure, Content
Management and Portal tools
Business Analytics Maturity Model – Rate your organization
Enterprise Defined Management and Portal tools
�Investments in data marts and data warehouse technologies supported by the
business (multiple sponsors)
�Isolated use of predictive and data mining technologies
Stage 4
Advanced
�Initial adoption of data mining, pattern matching, visualization, and predictive tools
into key processes
�Growing enterprise adoption of information management and analytical technologies;
business value of analytic tools is well understood
Stage 5
Leading
�Business strategy drives additional investments in business analytics technologies
�IT leader understanding of business strategy and application of relevant technologies
(beyond the CIO)
30 2011 – CAUBO Finance Presentation © Deloitte & Touche LLP and affiliated entities.
Reporting Vision
Common environment
Data integrity Efficient processesEnhanced
capabilities
� Integrated toolset
across the enterprise
�Shared data
repositories
promote “one
version of the truth”
� Implementation of leading
practice processes
�Web-based interactive
reporting tools
�Common processes
and procedures
�Common data
definitions and
business rules
�Less time spent on
processing and more time
available for analysis
�Greater opportunity to
use exception
reporting
�Central �Less reliance on �More timely planning, �Focus on key business
OperatorStewardStrategist Catalyst
© Deloitte & Touche LLP and affiliated entities.31
�Central
administration and
management
�Less reliance on
spreadsheets and
similar tools
�More timely planning,
reporting, and analysis
processes
�Focus on key business
metrics
�Scalable environment
to support future
needs
�Greater control and
integrity of
reporting and
analysis data
�Reduced reliance on IT
support to enhance
flexibility and timeliness of
reporting and analysis
�Use of more strategic
reporting such as
“connected”
scorecards and
dashboards
�Reporting and
analysis tools shield
end users from
complexity of and
changes to transaction
systems
�Role-based
security to provide
appropriate access
to data
�“Slice and dice”
analytical capabilities to
quickly find answers
�Ability to support
multiple structures or
views of data
2011 – CAUBO Finance Presentation
Information and Data Management – What’s important?
© Deloitte & Touche LLP and affiliated entities.
– What’s important?
32
Know the information requirements and how to model it
Push/Pull/Mobile
Responsibility
Structure
� What roles need information?
� What questions do they ask?
Performance
Decision Areas
� What business questions do they ask?
� What decisions to the need to make?
Information
� What is the information scope?
� How deep to people analyze?
Determine The Optimal Way To Deliver Information
To All Levels In The Organization
Executives
Management
Program
Operations
Information Blueprint Key Considerations
© Deloitte & Touche LLP and affiliated entities.33
Other
Standardized
Tools
Push/Pull/MobileInformation
Dimensions
� How deep to people analyze?
� What hierarchies are required? How
often do hierarchies change?
Usage
Considerations
� How will they use the information? How
frequent?
� Example: push vs. pull, routine vs. ad
hoc, mobile
Information
Processes
� How is the information generated? Is
the process reliable? Quality?
� Are processes and measures
standardized and defined?
Corporate Performance Mgm’t System
Mgt Reporting
MetricsPlanning/
Forecasting
Business
Modeling
Data Model / Repository
PS SAP HRIS Payroll Other Other
2011 – CAUBO Finance Presentation
Moving Towards Data Standardization
Moving to an enterprise set of metrics and supporting data repository requires a management framework including governance and standards, not just a consistent technical approach and toolset.
Governance Well defined oversight and standards
ComponentsMost companies as it relates to DS have Leading best practices
No formal governance
Clearly assigned ownershipLimited ownership defined Ownership
Embraced by all usersStewardshipData stewardship not in place
Clearly defined & accessibleMeta Data Poorly defined and documented
© Deloitte & Touche LLP and affiliated entities.34
Corporate-wide standards enforcedStandardsLimited standards established
Defined quality metricsData QualityNo formal data quality process
Move to a single ETL toolETLNumerous tools and technologies
Single enterprise-wide data repositoryEDWNumerous data marts and data stores
Common corporate reporting standards and toolsReportingNo common delivery approach for tools
Services Oriented ArchitectureTechnologyNon-scalable and inflexible environment
# Key questions
1 • What data standards currently exist?
2 • Which components are standardized in each department? To what extent?
2011 – CAUBO Finance Presentation
Technology Dimension
© Deloitte & Touche LLP and affiliated entities.35
Conceptual BI Architecture for Dummies
Source
Enterprise Data Warehouse (EDW)
End-User Applications
Extract, Transform, & Load Facilities
ETL and Middleware products to extract
© Deloitte & Touche LLP and affiliated entities.
SourceData
products to extract and transform/ cleanse data from sources; and in turn load it to the target database.
Both internal data (mostly transactional) and/or external competitive data.
Formatting and structuring data to facilitate decision support, usually based on a specific data modeling methodology, e.g. Star Schema.
Tools for providing reporting and analyzing capabilities to the end users, e.g., multidimensionality OLAP, drill down, data mining, portal, mobile, etc.
36 2011 – CAUBO Finance Presentation
High Level – BI Architecture
© Deloitte & Touche LLP and affiliated entities.37
“The purpose of business intelligence is to support better
business decision making.” DJ Power
2011 – CAUBO Finance Presentation
Analytical Abstraction (OLAP)
Scorecards
and DashboardsModeling &
Visualization
Analytics and
Reporting
Business Intelligence Center of Excellence
OrganizationGovernance
Change
Management
Business Language
Standardization
Process Monitoring
Statistical Modeling,
Budgeting, and
Forecasting
Meta Data Services
Adoption
Understand how your requirements map to a target end
state in order to deliver information speed and quality
© Deloitte & Touche LLP and affiliated entities.
Information
Quality
Analytical Abstraction (OLAP)
Transactional
Infrastructure
Extract, Transform and Load (ETL)
CRM SCM ERP Legacy
Process Monitoring
Data WarehouseSecurity
Meta Data Services
38
“The purpose of business intelligence is to support timely and
fact-based decision-making.”
2011 – CAUBO Finance Presentation
Simplify selection by understanding how BI products map on to the BI architecture
• Stack Vendors: Provide comprehensive BI solutions that target the entire BI architecture.
• Pure Play Vendors: Primary focus is on providing analytical and reporting solutions.
• Component Vendors: Point solutions for a single component of the BI architecture (e.g.
analysis).
© Deloitte & Touche LLP and affiliated entities.39 2011 – CAUBO Finance Presentation
Focus on Stack and Pure Play vendors – Component vendors augment or replace specific elements of an overarching BI solution
Stack Vendors
•
Pure Play Vendors
•
Component Vendors
DW
Tools
© Deloitte & Touche LLP and affiliated entities.
ETLTools
Other
40 2011 – CAUBO Finance Presentation
Stack or Pure Play? The choice boils down to product integration vs. vendor independence
Organizations choose BI stack vendors for two main reasons:
1. Demand for broader functionality to address current and/or future
needs.
2. Commitment to the vendor’s product portfolio and the promise of
better integration across the BI architecture.
© Deloitte & Touche LLP and affiliated entities.
Organizations choose pure play vendors:
1. To avoid over-committing to a single vendor.
2. For a predictable product roadmap and vendor competence in
niche areas.
41 2011 – CAUBO Finance Presentation
Your Path Forward and Lessons Learned
© Deloitte & Touche LLP and affiliated entities.
and Lessons Learned
42
Information Management Roadmap Planning Strategies
In early IM planning, organizations should consider these strategies:
� Narrow the focus to true business drivers; remove the focus on tools
� Set the strategic direction by defining key performance indicators (KPIs)
as common ground across organizational silos
� Assess operational and financial areas for opportunities to link
information across the enterprise
� Establish early governance and iterative re-planning checkpoints
© Deloitte & Touche LLP and affiliated entities.
� Establish early governance and iterative re-planning checkpoints
� Identify data management needs and data stewards
� Plan for an appropriate methodology
� Traditional waterfall system development life cycle methodologies can have
shortcomings when applied to BI initiatives
43
Dashboarding is the easy part - the tip of the iceberg. It is everything
below the surface that has the potential to sink the ship.
2011 – CAUBO Finance Presentation
Your roadmap forward
• Visioning
• Roadmap
• High Level Project Planning
Technology
Planning
Requirements
Definition &
Conceptual
Design
Phase 0 - Roadmap
DesignBuild &
Test
Deliver &
Operate
Tool ImplementationDetailed Analysis
Each ProjectKey Step
Checkpoint
Phase 0 (Roadmap)
�Conduct current state
Detailed Analysis (Project-Based)
�Develop functional
Tool Implementation (Project-Based)
�Design future state information
© Deloitte & Touche LLP and affiliated entities.
�Conduct current state
assessment
�Develop future state vision
� Identify and prioritize multi-
functional projects
�Develop directional budget
estimates and high level
timeline
�Cross-functional executive
sponsorship
�Develop functional
requirements
�Create conceptual
architecture design
�Visualize requirements
through simple prototypes
� Identify skills/resources
�Finalize detail project
timeframe and milestones
�Tool selection/confirmation
� Budget confirmation
�Design future state information
processes and determine data
requirements / specifications
�Develop 3-5 prototypes to confirm
design for each dashboard / model
�Design and set up technical
environments
�Develop dashboards, models,
reports and interfaces
�Test, Train and Deploy
�Augment support model
2011 – CAUBO Finance Presentation44
Lessons Learned in BI/Analytics Implementations
Set Expectations Early And
Often
Manage Your Stakeholder
Activities
Educating and Institutionalizing
Takes time
� Think-Big, Develop your
Roadmap, Deliver in Phases –
Communicate your vision, deliver
and sell the business benefits in
incremental projects, tune your
roadmap every 6 months
� IPM Assessment - critical to
� Senior Management: Will support
you, but don’t assume they know
what to doI Give them specific
tasks, timelines and tools...
Follow-up.
� Champions: Find your agents of
change within the business, sell
� Leverage Champions: Teach
them to educate; give them tasks,
timelines & tools. Follow-up.
� Governance and Compliance:
Create Tickets to entry for
management meetings
Recognize you are Selling benefits throughout the project"
© Deloitte & Touche LLP and affiliated entities.45
understand process, information
and organization gaps and
include closure on the roadmap
� Priorities Triangle - Formalize
alignment on priorities with your
customers early, and continue to
re-validate with them throughout
the process to maintain alignment.
� Manage - Admit to what you can’t
deliver, Sell what you know you
can deliver
them on your “Vision” and draft
them as your missionariesI Give
them specific tasks, timelines and
tools... Follow-up.
� Doubters: Understand that not
everyone will “Get on the bus”.
Develop strategy to get them to at
least neutralI Don’t ignore
themI Follow-up.
� Grapevine: Work the grapevineI
figure out what is really going on,
and understand the implications.
� Use Management’s Competitive
Nature: What gets measured,
gets done. Scorecard behaviors
your trying to drive (not just the
results), and publish it.
� Don’t Stop Selling: Stay in front
of the business. Your customers
need a consistent message, but
continue to evaluate its
effectiveness
2011 – CAUBO Finance Presentation
Define your business process,
then apply technology
Source system data is a bigger
problem than you think
System requires on-going
“Care and Feeding”
�Understand business
requirements and Process –
Have a discussion about business
requirements, not a discussion of
features. Don’t get hung up on
features.
� Just because it can be done it
�Atomic Level Of Detail:
Summarized data may be
“Materially Correct”, but there is
significant noise and holes in data.
Determine whether you need a
data cleansing project first.
�Data Governance, the business
�Business will want “MORE!”:
You need to prepare early for
success, and put the structures in
place early. Don’t drop the ball or
slow the momentum! Your tactics
will evolve, but understand how
you are going to operate, govern
and enhance business value.
You are solving a business problem"
Lessons Learned in BI/Analytics Implementations
© Deloitte & Touche LLP and affiliated entities.46
� Just because it can be done it
doesn’t mean it should be done
– If the tools have trouble meeting
a business requirement, make
sure you understand the business
requirement; don’t over-engineer
the BI environment rather dig
deeper to understand the business
requirement
�Ensure you have an
Experienced balanced team –
Technology and Business; work
together to understand and trust
each other.
�Data Governance, the business
shoots the messenger: Don’t be
surprised if you find your source
systems data is poor. Be
prepared to work around, or help
build missing information integrity
processes.
�Communicate with the “Run”
team: BI systems are not the
same as ERPs. Make sure the
“Run” team truly understands the
requirements and timing of
business needs!
�Resources for subsequent
phases: Understand how you are
going to resource Phase 2, 3,
etc... Get creative.
2011 – CAUBO Finance Presentation
Contact Information
Deloitte5140 Yonge StreetToronto, ON M2N 6L7Canada
Direct: 416-643-8063Nat D’Ercole, CA.IT, CPA
Information Management &
© Deloitte & Touche LLP and affiliated entities.47
Direct: [email protected]
Member ofDeloitte Touche Tohmatsu
Information Management &
Analytics Technology
Consulting
2011 – CAUBO Finance Presentation
Appendix
48
Deloitte Analytics Thought Leadership We have published Analytics research and thought leadership
Information-Driven Business
Analytics book published by Australian Partner Robert Hillard
Summary: Information doesn't just provide a window on the business, increasingly it is the business. The global
economy is moving from products to services which are described almost entirely electronically. Even those
businesses that are traditionally associated with making things are less concerned with managing the
manufacturing process (which is largely outsourced) than they are with maintaining their intellectual property.
Dozens of Analytics Case Studies & Thought Leadership Articles
Deloitte has published a plethora of industry-specific articles on how analytics can be applied
Articles spanning the actuarial, claims, customer insights, Medical malpractice, underwriting and banking
industries have been published. Additional articles on general analytics are available as well.
© Deloitte & Touche LLP and affiliated entities.
Research-based Publications
Deloitte has become known for our objective, research-based insights on information
management. The following are several of our recent publications
• Look Closer, Look Further – Comprehensive study published by CFO Research Services and
Deloitte.
• Turning Points - a guide to help clients ask the right questions on how to manage the ever
increasing threats of today’s digital world
• Using an EIM Strategic Plan to Ease the Pain – An EIM Strategic Plan will aids in addressing
information quality, risk and compliance challenges, global and regional information requirements,
business growth and change challenges
• Positioning Master Data Management for Effective Results – How to Drive Value, Bottom line
Benefits and Getting it Done
• Driving Improved Business Performance with Data Governance – The Four Key Roles: Owner,
Steward, Custodian, and User
49 2011 – CAUBO Finance Presentation
Agriculture
Energy
Foreign Affairs
Sector
Deloitte’s Global Survey: Mastering Finance in Government
Overview
• The survey was conducted between 2008 and 2010 and included more than 300 government
organizations from 28 countries.
• The following is a breakdown of respondents by Sector, as well as a breakdown of the Education
Sector by Region:
Canada
14.63%
18%
Education Sector: Regional Classification
© Deloitte & Touche LLP and affiliated entities.
0.0% 10.0% 20.0% 30.0% 40.0% 50.0%
Other
Education
Transportation
Defense
Economic development
Social services
Healthcare
Justice
Environment
50
Education was the
2nd largest
respondent group,
accounting for
14% of
respondents.
Canada
14.63%
APAC: Australia, New Zealand
EMEA: Netherlands, Slovak Republic, Spain, United Kingdom
Americas: Canada, United States
14%
23%
45%
APAC
EMEA
Americas
CAUBO
2011 – CAUBO Finance Presentation
Approach matters!
Wa
ve
1 Requirements
Development
Testing
Wa
ve
2
Rollout
Requirements
Development
Testing
Rollout
Requirements
Prototype
Update/ Validate
Requirements
Develop / Update
Prototype
Yesterday - “Waterfall” Approach Today - “Iterative” Approach
© Deloitte & Touche LLP and affiliated entities.51
Wa
ve
3
Requirements
Development
Testing
Rollout
Prototype
This approach follows a traditional development
approach that supports the completion of each
phase before activities for the following phase begin.
• Lack of Flexibility – Completed phases could not
re-visited
• Siloed activities – Lack of collaboration between
Requirements and Development activities due to
minimal interaction between IT and the Business
This approach promotes prototyping, which
allows an early view to system performance and
an opportunity for taking early correction action
to design. Early visualization and understanding
of requirements will also accelerate project
design and build activities.
• Flexibility – Requirements are re-visited with
each prototype
• Collaboration – Business is involved
throughout the Requirements and Prototype
activities and provides feedback to the IT
team
2011 – CAUBO Finance Presentation
Building dashboards
• Think about your audience
• Think about the financial or management story you want to tell
• Identify your business SME’s that can provide business requirements and perform data
validation during testing
• Ensure the data you need is clean and available in your data stores
Conduct user testing
and user validation of
Develop prototype and
walk through simulation
with users (iterative
Storyboard the
dashboard scenarios
and develop
1 3 5
© Deloitte & Touche LLP and affiliated entities.52
Define backend data
values and technical
requirements
data
Finalize dashboard
solution and validate
data
with users (iterative
process)
and develop
wireframes
Deploy into production
2 4 6
2011 – CAUBO Finance Presentation
Vendor Performance Management Applications Overview
Strategy Management / Strategic Planning:
Hyperion Performance Scorecard 11.1.2
Hyperion Strategic Finance 11.1.2
Financial Close, Consolidation and External Reporting:
Hyperion Financial Management 11.1.2
Hyperion Financial Close Management 11.1.2
Hyperion Disclosure Management 11.1.2
Hyperion Financial Data Quality Management 11.1.2
Essbase Analytics Link for Hyperion Financial Management 11.1.1
Hyperion Financial Reporting 11.1.2
XBRL publisher
Planning, Budgeting, and Forecasting:
Hyperion Planning 11.1.2
Hyperion Capital Asset Planning 11.1.2
Hyperion Workforce Planning 11.1.2
Strategy Management / Strategic Planning:
SSM - Strategy Management
Pioneer
Financial Close, Consolidation and External Reporting:
BCS - Business Consolidations (Until 2016)
BPC - Business Planning and Consolidations 7.5
FCC - Financial Consolidation
IC – Intercompany
UBmatrix (XBRL)
Planning, Budgeting, Forecasting:
BPS- Business Planning and Simulation / IP-Integrated
Planning (Until 2016)
BPC - Business Planning and Consolidations 7.5
Profitability and Cost Management:
Profitability and Cost Management
Strategy Management / Strategic Planning:
Cognos 9.5 TM1 9.5.1
Cognos Planning 8.4.1
Budgeting, Planning, Forecasting:
Cognos Planning 8.4.1
Cognos TM1 9.5.1
Cognos Express (mid-market offering)
Financial Close, Consolidation and External Reporting:
Cognos Controller 9.5.1
Cognos FSR (XBRL Publisher)
Reporting and Analysis:
Cognos 10 Business Intelligence
Cognos 10 Go! Dashboard, Mobile, Office
Cognos Now!
Cognos TM1 9.5.1
© Deloitte & Touche LLP and affiliated entities.53
Hyperion Workforce Planning 11.1.2
Integrated Operational Planning 11.1.2
Integrated Margin Planning 11.1.2
Hyperion Public Sector Planning and Budgeting 11.1.2
Profitability and Cost Management:
Profitability and Cost Management 11.1.2
Enterprise Dimension/Hierarchy Management:
Hyperion Data Relationship Management 11.1.2
Reporting and Analysis:
Oracle Hyperion Essbase 11.1.2
Oracle Hyperion Financial Reporting 11.1.2
Oracle Hyperion Web Analysis 11.1.2
Oracle Hyperion Interactive Reporting 11.1.2
Oracle Hyperion SQR Reporting 11.1.2
Oracle Business Intelligence Enterprise Edition (OBIEE) 11g
Packaged BI Analytics:
Financial Analytics (GL, Profitability, Budget, Payables) 11g
Sales Analytics 11g
Human Resources Analytics 11g
Supply Chain and Order Management Analytics 11g
Data Integration:
Warehouse Builder 11g
Predictive Analytics:
Crystal Ball 11.1.2
Profitability and Cost Management
Enterprise Dimension/Hierarchy Management:
Master Data Management
Reporting and Analysis:
Xcelsius
Crystal Reports
Web Intelligence
BW/BWA - NetWeaver Business Warehouse / Accelerator
BEx - Business Explorer (Until 2016)
Polestar
Packaged BI / Analytics:
Extended Analytics - SRM, CRM & HR
SPM- Supply Chain Performance Management
Spend Performance Analytics
PCM - Profitability and Cost Management
Data Integration:
Data Integrator
Data Quality
Predictive Analytics:
Predictive Workbench
Cognos TM1 9.5.1
Cognos 10 Business Viewpoint
Cognos Express (mid-market offering)
Packaged BI / Analytics:
Cognos 8 Analytic Applications (Customer Performance,
Workforce Performance, Supply Chain Performance, Financial
Performance Analytics, Banking Risk Performance)
Enterprise Dimension/Hierarchy Management:
InfoSphere applications
Cognos 10 Business Viewpoint
Data Integration:
Ascential DataStage
Data Manager
Predictive Analytics:
SPSS Decision Management applications
ILOG supply chain applications
2011 – CAUBO Finance Presentation
About Deloitte’s PMT Practice
Performance Management Technology (PMT) is the bridge between the Finance and IT
functions that delivers solutions for our clients that are business focused and
applications enabled.
Consolidation
and Financial
Reporting
External
Reporting and
Disclosure
Management
Planning,
Budgeting,
Forecasting
� Advisory
– IPM technology visioning and roadmap
– IPM information requirements for decision support
– IPM technology requirements and selection
– IPM technology fit gap and business impact assessments
© Deloitte & Touche LLP and affiliated entities.54
Financial
Analytics
Management
Reporting
Reporting
Planning,
Management
Dashboards and
Scorecards
Performance
Management
Technology
– IPM technology fit gap and business impact assessments
� Implementation
– Solution design and tool implementation
– Data mart design and implementation
– Report rationalization, design and implementation
� Value-Added
– heath checks, upgrades & optimization services
– leading practice assessments
– Financial and non-financial advisory & management
2011 – CAUBO Finance Presentation
© Deloitte & Touche LLP and affiliated entities.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for
a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
This presentation contains general information only and is based on the experiences and research of Deloitte practitioners. Deloitte is not, by means of this presentation, rendering business, financial, investment, or other professional advice or
services. This presentation is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your
business, you should consult a qualified professional advisor. Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this presentation.
Member of Deloitte Touche Tohmatsu Limited
Copyright © 2011 Deloitte Development LLC. All rights reserved.