Streamline and Enhance Your Financial Consolidation Process

May 14, 2013

Streamline and Enhance Your

Financial Consolidations Process

Danielle Bass, Director Global Accounting

Systems

© 2013 Citrix | Confidential – Do Not Distribute

Why are you in Orlando?

• I desperately needed to go to Harry Potter land and finally

learn the rules of quidditch

• Because if I’m going to visit Florida, it’s gonna be before

hurricane season starts on June 1

• To get tips and advice on how to streamline and enhance

your financial consolidations process by someone who’s

been there


Application Landscape Pre-SAP Business

Planning and Consolidation

4

Previous consolidation

tool SAP ECCS Module

Volume Consolidate 90 entities

Previous reporting

platform SAP Report Writer and SAP BW BeX Analyzer

User base 7,000+ SAP users, 200 consolidation users

Geographic location Consolidation ran in US & Switzerland

Reporting conducted globally

SAP BW Version 7.0

SAP NetWeaver version 7.0


• Citrix consolidated the financial data of over 90 entities with SAP’s

ECCS module

• The process involved re-measurement and translation of foreign

currency, elimination of intercompany activity, and producing

consolidated financial reports for SEC reporting and quarterly

earnings book

• Due to system limitations, execution and research of consolidated

data within the system is time consuming and involves many

business and IT resources

• The process to produce SEC, earnings, and Board of Directors

reports was very manual.

State of Affairs pre-SAP Business Planning and

Consolidation


Our Journey

6

Jan 2013

Oct 2012

July 2012

May 2012

Apr 2012

Mar 2012

Jan 2012

Dec 2011

May 2011

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Business Benefits Derived by SAP Business

Planning and Consolidation Business Scenario Before Planning and

Consolidation Value derived from Planning and Consolidation

ROI achieved

Consolidate multiple newly acquired entities and ledgers

SAP ECCS only consolidates one ledger, cannot consolidate for IFRS or statutory reports

Consolidate over 120 entities and added additional reporting dimension (region and profit center)

200 hours per month Less downstream effort

Preparing earning schedule for internal and external publication (Formatting)

Manual process involving re-keying data into Excel

Automate earnings revenue schedules and financial statements at a push of a button

250 hours per quarter

GL and Reporting Structure Team spends approximately 100 hours per quarter analyzing system entries and building reports.

Accelerated close to disclose process

100 hours per quarter.


PROJECT TEAM Senior Executive

Sponsor Chief Financial Officer

Core

• Project Manager(s)

• Functional Lead

• Technical Lead

• Organization Readiness Lead

• Director Accounting Systems

•Sr Director Controller

•Accounting Manager (3)

Change

Review

Board

• Director Accounting Systems

•Sr Director Controller

IT Business

Decisions

• Business Process Changes

• Project Approvals

• Project Change Requests

• Resource Changes

• Task Assignment

• Risk & Issue Management

• Change Management

Steering

Committee

•WW Ops VP

•SAP Practice Director

• VP & Corporate Controller

•Director Accounting Systems

•Sr. Director Controller

• Budget Approval

• Schedule Approval

• Scope Approval

• Communicate Vision

• Communicate Objectives

• Final Decisions

Responsibilities

• Project Change Control

• Advisory Board Communications

• Issue & Risk Escalations

• Project Management

• Standards & Guidelines

• Status & Communication

• Resource Coordination

• SAP FICO Analyst (1)

• XenApp resource (2 part time)

• Basis (1 part time)

•Secutiry (2 part time)

•BW resource

• Trainor

• Test Lead (1)

Expert

• Consolidation Subject Matter Experts (3)

•Accounting Systems Experts (2)

• Report Users (10)

•SOX Team (2)

• Requirements

• Design

• Development & Testing

• UAT & Training

• Subject Matter Expertise

Team

Advisory

Board

Inte

rnal

Au

dit

Escala

tions • SAP Practice Director

• Requirements

• Design

• Development & Testing

• UAT & Training

• Subject Matter Expertise


Factors for success

Educate Team Early

Relationship between Citrix and System Integrator

Implement Buddy System

Coach Team

Make Decisions Quickly

Educate SOX and Internal Audit Early

Determine Core Reports Ensure Organizational

Readiness

GET INFO

DECIDE ACT


Next Steps

10

• More input schedules

• SAP HANA?

• Fully rollout statutory reporting

• Publish more reports

Appendix


Critical to Success

12

Educate the team early

Build relations between Citrix

and System Integrator

Implement buddy system

Coach team .

Make decisions quickly

Educate SOX & Internal Audit

Early

Determine Core Reports

Organization Readiness

© 2013 Citrix | Confidential – Do Not Distribute Citrix Confidential - Do Not Distribute

Consolidations System Project • Consolidate over 90 entities in SAP’s ECCS module

• ECCS was deployed in 2001

• ECCS reporting platform leverages SAP’s 20 year old report

writer technology

• ECCS is a legacy product, SAP will support ECCS but not

enhance it (in 2010 Citrix identified program flaw requiring

SAP to extend code)

• ECCS only consolidates one ledger, cannot consolidate

for IFRS or statutory reports

• Team spends approximately 100 hours per quarter

analyzing system entries and building reports.

• Consolidate over 90 entities and three ledgers – including

SEC, IFRS and statutory

• Utilize consolidations quadrant leading technology

• Utilize web and excel based reporting platforms –

Automate earnings revenue schedules and financial

statements at a push of a button

• Utilize supported and enhanced tool

• Utilize tool with wide ranging user base and communities

• Reduce time to close the books CLOSE TO DISCLOSE

• Reduction in time spent researching entries

• Reduction in time producing reports

• Analyze and produce data better and faster!

• Proactive rather than reactive monitoring of data

• Creation and maintenance of reports requires IT or Systems

resource

• ECCS does not provide simple drill down required for

research. Research often requires interaction with Business,

Systems and IT resources.

• Earnings books must be produced in SAP BW, updates for

product launches, new entities, and GL accounts must be

made by a System resource.

• Manual report formatting is required for reports produced from

report writer and BW (requires re-keying of information in

Excel)

• SAP has been required to update their code, tables were not

updated with consolidated data

• Reduce business dependency on IT and Systems staff

• Business to write reports with minimal support of Systems and

IT resources

• Eased research ability through drill down to source system

• Ability for system to evolve with business growth, regulatory

changes, and technology advances

• Reduction or elimination of need IT resources to build reports

• Less touch points allowing for reduction of errors

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Streamline and Enhance Your Financial Consolidation Process

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