3051 a furst_diane_8
DESCRIPTION
Diane Furst re: HyperionTRANSCRIPT
Achieving Best Practices With Hyperion at Gemstar-TV Guide International, Inc.
Presented by:
Diane Furst, Manager Financial Systems
Steve Griffin, Vice President Corporate Systems
TV GUIDE
Session #3051A
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Agenda
Company Overview
Starting Point
Project Objectives and Goals
Project Overview
Application Overview
Lessons Learned
Final Results
Q & A
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Company Overview
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Company Overview
Enhance and simplify on-screen entertainment
TV Guide is the source for entertainment information that empowers TV fans to make the most of their relationship with the world of television
General:—Over $800M in annual revenue—Over 2,000 employees—International (multicurrency)—3 General Ledger systems: J.D. Edwards World,
Epicor (two instances)—Corporate based in Hollywood, California
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Business Segments
Publishing
TV Guide Magazine
TV Guide Online
Data Services
SkyMall
Cable & Satellite TV Guide
Channel TV Games
Network TV Guide
Interactive TV Guide
International
Consumer Electronics VCR Plus+ Guide Plus+/TV Guide On
Screen
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Background
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Starting Point
Month-end close process issues— 20 business day cycle— Manually intensive processes – Excel spreadsheets— Multiple General Ledger systems— Foreign currency translation inconsistencies— Lack of standard accounting practices— Inter-company/elimination process issues
Lack of management information
Shortage of analytical and reporting capabilities
Weak financial controls and data integrity
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Project Objectives and Benefits
Provide a “single version of the truth”
Significantly increase compliance with Sarbanes-Oxley
Increase and improve internal controls Improve timeliness of consolidations and reporting Improve audit trails Ensure completeness and accuracy of financial results Create transparency of financials
Deliver information to management via easy-to-use tools
Decrease closing cycle: Goal is 5 days
Free up time for more qualitative analysis
Improve efficiency and productivity through automation
Standardize data structures
Promote business unit ownership of data
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Approach & Solution
Approach— Redesign business processes— Implement new technology
Hyperion Financial Management used for:— G/L consolidation— Reporting and analytical functionality
Hyperion Application Link used for data integration
Reporting delivered via:— Hyperion Reports— Excel Add-ins: Pivot and Retrieve— Hyperion Analyzer (next phase)
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Project Overview
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Project Overview
Aug ‘03
Business Process Redesign
Hyperion Implementation
Jan ‘04DecNovOctSept Feb
Go-Live
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Team Structure
Gemstar - TV Guide International, Inc.COMPASS Team
Chief Financial OfficerExecutive Sponsor
Steve GriffinProject Director
HyperionEngagement Mgr
Diane FurstProject Manager
Business ProcessReengineerConsultant
Information TechDirector IT
FunctionalTeam
TechnicalTeam
Business Units6 Groups
CorporateAccounting
ControllersSr Accountants
Director Financial ReportingManager Financial Reporting
3 Hyperion Application Consultants1 Hyperion Technical Consultant
Server SupportNetwork Support
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Use of Consultants
Utilized a combined team of Hyperion and niche vendor consultants— Hyperion provided product expertise and best practices— Team included experienced CPA/Controller individual to
drive business process redesign— Cross-training of employees was key to a successful
transition of support
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Project Plan
ID Task Name Start Finish % Complete
1 Gemstar-TV Guide Thu 8/7/03 Fri 2/27/04 100%
2 Initiation Thu 8/7/03 Fri 8/29/03 100%
4 Design Phase Mon 8/18/03 Tue 9/9/03 100%
39 Establish Change Control for Design & Build Modifications Mon 9/8/03 Fri 9/19/03 100%
43 Technical Infrastructure Mon 8/25/03 Fri 9/19/03 100%
69 Data Source/Data Requirements Mon 8/18/03 Fri 10/10/03 100%
75 Build Phase Mon 8/18/03 Mon 12/22/03 100%
141 Testing Mon 9/29/03 Fri 1/2/04 100%
177 Training Wed 10/1/03 Fri 12/19/03 100%
185 Documentation Tue 9/2/03 Wed 12/24/03 100%
190 Rollout Tue 10/14/03 Wed 1/7/04 100%
216 Mock close for November Mon 12/22/03 Wed 1/7/04 100%
224 Parallel close for December/year-end Mon 1/12/04 Mon 1/26/04 100%
232 Go-live (January close) Mon 2/2/04 Fri 2/20/04 100%
240 Post Implementation Review & Modifications Tue 1/20/04 Fri 2/27/04 100%
AugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchApril May JuneJuly August
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Training
Successfully utilized Hyperion Education Services— Computer-based training— Customized classroom instruction
— Training manuals— Reference cards
— Portable classrooms— Hyperion trainer
Rationale:— Lower cost per student— No internal resources available— Professional trainer— Ability to update and maintain training material internally— Utilization of training material for future classes— Higher-quality results
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Reference Card Sample
To Log On To Pivot and Retrieve
1.Launch Microsoft Excel. 2.From the Microsoft Excel menu, select Financial Management / Logon. 3.Select Use Http, and enter the following address: http://server name. 4.Type your Domain name, User ID and Password (The password is case-sensitive). 5.At the Open Application dialog box, from the Cluster drop-down list, select lax1hypdb1. 6.Click Connect to Server. 7.Select the name of the application you want to open. 8.Click Open Application. .
Hyperion Financial Management Quick Reference Card
Version 1.0 December 10, 2003
1.From the Microsoft Excel menu, select Financial Management / Pivot Data / Define Pivot. 2.Drag the dimensions that you want to include in the data analysis to the Row and Column boxes. 3.Double-click any of the dimensions in the list box to open the Point of View dialog box. 4.To change a member list for a dimension, double-click a row, column or page dimension. 5. Click Ellipsis and highlight a member list. 6.In the Parent Member edit box, enter a parent member of the selected member list, click OK. 7.Click Display Options, and choose the options desired. 8.To close Display Options, click OK. Click Done. 9.Select Financial Management / Pivot Data / Refresh Query. 10.To save the query, from the Microsoft Excel menu, select Financial Management / Pivot Data / Save Pivot Definition.
To Create a Query
To Create Retrieve Worksheets and Refresh Data
To Retrieve Data Using HMFVAL 1.Place the cursor in a spreadsheet cell. 2.Type =HFMVal(parameters). Examples of parameters are: =HFMVAL(“A#CASH_BANKS.E#70_GDC.PD#Quarter1.”) =HFMVAL("A#"&$R17&".PD#"&T$13&".") Dimension Keywords (Keywords are Case-Sensitive) S# Scenario A# Account Y# Year I# ICP PD# Period C1# Custom 1 VW# View C2# Custom 2 E# Entity C3# Custom 3 PR# Parent C4# Custom 4 VL# Value
To retrieve Descriptions 1.From Microsoft Excel, place the cursor in a spreadsheet cell. 2.Type =HFMDes(dimension). To retrieve Labels 1.From Microsoft Excel, place the cursor in a spreadsheet cell. 2.Type =HFMLab(dimension). To change the Point of View 1.From the Microsoft Excel menu, select Financial Management / Change POV. 2.Select a member from each dimension. 3.Click OK.
To refresh a spreadsheet 1.To refresh a spreadsheet, from the Microsoft Excel menu, select Financial Management / Retrieve Data / Refresh. Do one of the following: To refresh values in all worksheets, select Refresh Values. To refresh values in the currently active worksheet only, select
Active Sheet. If using a GemStar-TV Guide Template select the Refresh icon
on the top of the page. To convert function 1.From the Microsoft Excel menu, select Financial Management / Pivot Data / Define Pivot. 2.Make any changes needed to the pivot definition. 3.Select Financial Management / Pivot Data / Refresh Query. 4. Select Financial Management / Pivot Data / Convert to Functions. To eliminate linked cells 1.Copy the incorrect path located in the cell formula before the retrieve function. 2.Highlight the entire spreadsheet. 3. Select Edit / Replace All . 4.In the Find what: section paste the incorrect path name. 5.Leave the Replace with: section blank. 6.Click Replace.
Administrator Contact Information Administrator Phone: 323-817-4749 email: [email protected] Diane Furst Phone: 323-817-4742 email: [email protected]
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Application Overview
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Application Dimensions
Managerial:Segment Business UnitProduct
Legal:Company Product
Entity Balance SheetIncome StatementCash FlowStatistical (KPIs)
AccountActualBudgetCurrent ForecastPrior Forecast
Scenario
2001: Dec YTD2002: Quarterly2003: Monthly
Year
Year Quarter 1 Jan Feb Mar
Period
FinanceCustomer SrvcITOperations Co 72 cc12345
Custom 1 Cost Center
North AmericaEurope Luxemburg
Custom 3 Geography
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Monthly Close Workflow Summary
Process management slide
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Process ManagementWorkflow Diagram
Month-End Close Process using Hyperion Financial ManagementWorkflow Diagram
CorporateConsolidation
HyperionAdministrator
Load andConsolidateData in HFM
Validate Datain HFM
Promote to"First Pass"
Validate HFM to G/L
O K?
Check I/CMatchingReports
Submit BSand P&L to
Corp
ReviewConsolidatedData BS, PL
O K?
O K?
Top SideAdjustments
O K?
TaxProvision PublishO K
?
FinalizeCash Flow
Input
ReviewCash Flow
O K?
LockBalance Sheet
& P&L(Administrator)
Submit CFto Corp
Reseach and ID ProblemAdjust G/L
RejectFirst Pass
SendJournalReport
BookJournals to
GL
ValidateGL toHFM
CompleteO K?
Y
Y
Y
Y Y
N
NN
N
N
Y
LockG/L
(Epicor/JDE)
Business Units
N
GeneralLedgersClosed
N
Reject forCF Input
1.0 2.1
3.1
2.32.2
3.63.53.2
4.1
3.93.83.7
5.1 6.05.2
4.2
4.3
Shaded boxes indicate Process Management steps
Promote toReview Level 1
SubmitterReview s
O K?
Y
Reject to Review 1N3.43.3
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Process Management Promotion Grid
Process Level Responsibility
Starting Point Not Started
Data Loaded and Consolidated First Pass Administrator
Data Validated against G/L & Inter-co matching Review Level 1 Business Unit
Accountant
Final Validation of Business Unit Data Submitted Business Unit Controller
Consolidated Data Validation & Top-side entries Publish Corporate Accounting
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Security Matrix by Entity
SECURITY MATRIX
USERS [DEFAULT] 01UVTV 06SCS 85SKY Budget CE CORPCORP-JOUR MAG
NET-WORK
SEG-MENT
SUPER-STAR
TV-GAMES TVGINTL UVCORP
AKLAYMAN All Read Read Read Read All All Read Read Read All Read Read ReadANING Read Read Read Read Read Read All Read Read Read Read Read ReadARIMPOS All Read Read Read Read Read Read Read Read Read Read All Read ReadASANDA All Read Read Read Read Read Read Read Read Read All Read ReadASCHATZ Read Read All ReadBMORAN Read Read Read Read Read Read Read Read Read Read Read Read Read AllBSHIPLEY Read Read Read Read Read Read Read Read Read Read Read Read Read ReadBURBAN Read Read ReadBWILSON Read Read Read Read Read Read Read Read Read Read Read Read Read ReadCAGUILER Read ReadCLEAKE Read Read ReadDANSON All Read Read All Read Read Read Read Read Read Read Read Read ReadDFURST All All All All Read All All All All All All All All All AllDLARSON All All All All Read All All All All All All All All All AllDLIGHTBOURNE Read Read ReadDMAYINJA Read Read Read Read Read Read Read Read Read Read Read ReadDOUGW All All All All Read All All All All All All All All AllDPATTERSON All All All Read Read Read Read Read Read Read All Read Read ReadDSALINS All All All All Read All All All All All All All All AllDWEBB All All All All Read All All All All All All All All AllDWYATT Read Read Read Read Read Read Read Read Read Read Read Read Read ReadECULLERS All Read Read Read Read Read Read Read Read Read Read Read Read ReadEDEANGEL Read Read Read Read Read Read Read Read Read Read Read Read ReadEELMS Read Read
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Security Matrix by Role
SECURITY MATRIX Manage
Approve Create UnbalancedJournals Post Read Data Entry Review
USERSAdmin-istrator Journals Journals Journals Admin Journals Journals Forms
Super-visor Reviewer 1
Consol-idation
Submit-ter
AKLAYMAN Yes Yes Yes Yes Yes Yes YesANING Yes Yes Yes YesARIMPOS Yes Yes Yes Yes Yes YesASANDA Yes Yes Yes Yes Yes Yes YesASCHATZ Yes Yes YesBMORANBSHIPLEYBURBANBWILSON Yes Yes YesCAGUILER YesCLEAKE Yes Yes YesDANSON Yes Yes Yes Yes YesDFURST YesDLARSON YesDLIGHTBOURNEDMAYINJA Yes Yes YesDOUGW Yes Yes Yes Yes Yes Yes Yes Yes YesDPATTERSON Yes Yes Yes Yes Yes Yes Yes Yes YesDSALINS YesDWEBB Yes Yes Yes Yes Yes Yes Yes Yes Yes YesDWYATT Yes Yes YesECULLERS Yes Yes Yes Yes Yes YesEDEANGEL Yes Yes YesEELMS Yes
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Hyperion Application Link
Used to automatically translate and load data from various general ledgers into Hyperion Financial Management
Translation Manager used for accounting mappings (Four tables encompass mapping for 43 ledgers)
Executables developed to run on the server; translation and load process takes minutes
Future plans include automating the scheduling of data extracts and loads to enable overnight processing
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Business Process Change
Business process changes are critical to a successful transformation of the month-end close process
Stated objective to reduce the close cycle along with renewed focus of the Accounting group resulted in several improvements before project was in full swing
Data files submitted earlier
Improvements in Accounting processes— Standard intercompany policy instituted — Standard COA created— Foreign currency translation moved to Hyperion from Excel
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Lessons Learned
Technical complexity: Involve Information Technology experts early; Finance can not go it alone
Focus on application design; Utilize experienced Hyperion Financial Management people
Conduct thorough current state assessment; Uncover rocks upfront
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3 General Ledger Systems
Data Transformation(Mapping)
ConsolidationSystem
Data Transformation(Mapping)
ConsolidationSystem
43 Separate Ledgerson 3 G/L Systems
Planned
Actual
Data Integration Complexity
Surprise!
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Lessons Learned (Continued)
Incorporate business process change with system implementation
Training and change management is critical to success
Gain a thorough understanding of security before finalizing design
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Final Results
Old Close Process
Month-end close cycle was 20 business days
Excel-based consolidation process
Highly manual
Summary data only
Lack of reporting and analytical capabilities
Lack of financial controls
Quarterly hard close
New Close Process
Month-end close cycle down to 5 business days
Hyperion Financial Management, Reports
Highly automated
More detailed data
Improved reporting and analytical capabilities
Improved financial controls
Monthly hard close
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Quotes from Users
“Within the first month the system enabled us to reduce manual data entry and improve data integrity” – SkyMall Controller
“The time it takes us to create management reports has been cut in half by using Retrieve spreadsheets” – Director of Finance, Consumer Electronics
“For the first time, we were able to publish a monthly executive management report book by pushing a button, thus providing meaningful information to decision makers in a more timely manner ” – Corporate CFO
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Questions?
Achieving Best Practices With Hyperion at Gemstar-TV Guide International, Inc.
Presented by:
Diane Furst, Manager Financial Systems
Steve Griffin, Vice President Corporate Systems
Session #3051A
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