Streamlining Month End Reporting, Budgeting and Forecasting Processes Brenden Russell CALUMO

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2 Streamlining Month End Reporting, Budgeting and Forecasting Processes Brenden Russell CALUMO

3 Streamline Month End Reporting

4 Streamline Month End Reporting

5 Streamline Month End Reporting

6 Streamline Month End Reporting - Ugly Stories Story 1: 5 week month end process Story 2: 15 days to 3 Story 3: Prior Period Posting lost forever!

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8 Streamline Month End Reporting - Oh the PAIN! What is the worst part of the Month End process? Excel Human Error Constant Checking Lack of time! Printing Lack of visibility Drill to detail Streamline Month-End Reporting So many queries! Adding cost centres, entities, accounts is painful Who reads them? No Security

9 Streamline Month End Reporting - Fix it How to Streamline Month End: Get management buy in Use common sense Spend money Automated reporting with Excel and web no copy and paste but retaining Excel s flexibility. Enable Self Service

10 Streamline Month End Reporting - Fix it How to Streamline Month End: Distribute a flash report before the end of the month Don t be laser guided! Align executives with the process Put monthly rolling forecasts in place Move accountability to department managers Spend money

11 Streamline Month End Reporting - Benefits John Creeley, CFO of First State Super: Month-end reporting has reduced from 15 days to 3 days Creates Visibility No more printed reports Productivity increased. Risk decreased Data and report manipulation is removed

12 Streamline Month End Reporting - Benefits John Creeley, CFO of First State Super: You don t need the IT Non-finance people get it Aggregation and drilling Self-service kiosks are brilliant All cost centre managers get exactly same formatted reports and budgeting templates.

13 Streamline Month End Reporting - Benefits Pickles Auctions

14 Streamlined Month End Reporting - Samples

15 Streamline Budgeting - Ugly Stories Story 1: 5 months of hell Story 2: There is hope! Story 3: Into the New Year and the budget isn t finished!

16 Streamline Budgeting - Oh the PAIN! What is the worst part of the budget process? Building the input templates? Designing the models? Distributing the input templates? Aggregating the data? Distributing the results? Tracking the process?

17 Streamline Budgeting - Fix it How to streamline budgeting: 1. Streamline month-end first 2. Get management buy in 3. Spend money 4. Centralise your budget models 5. Automate the collection of data 6. Automate the aggregation 7. Get buy in from the rest of the business

18 Streamline Budgeting - Case Study Mantra

19 Streamline Budgeting - Case Study Mantra

20 Streamline Budgeting - Benefits Benefits for Mantra: Reduce your budget process to one month or less Introduce Top Down budgeting Centralise the administration of calculations, security and the interface Easily report and analyse the budgeting and forecast data compared to Actual Create collaborative input and real-time consolidation Enable rolling forecasts

21 Streamline Budgeting - Benefits Benefits for Mantra: Focus the organisation on the future with facts, not just gut feel. Standardised input templates (IE or Mobile) still using Excel or web pages. Fast turnaround post review cycle resulting in a shorter overall budget process It will be fun, well satisfying at least. The budget administrator can take a holiday during the budget process.

22 Streamline Budgeting - Humans Make it fun! Reward people. The last minute dash The Turtle Hyper Organised The all-nighter Same Same Ten Presenter

23 Streamlined Budgeting - Samples

24 Streamlined Forecasting - Ugly Stories Story 1: We don t forecast Story 2: We forecast to the end of the financial year

25 Streamline Forecast - Oh the PAIN! What is the worst part of the Forecasting process? Building the input templates? Designing the models? Distributing the input templates? Distributing the results? Aggregating the data? Tracking the process?

26 Streamline Forecast - Fix it How to streamline forecasts: 1. Get management buy in 2. Spend money 3. Centralise your forecast models 4. Automate the collection of data 5. Automate the aggregation 6. Get buy in from the rest of the business

27 Streamline Forecast - Case Study Mantra

28 Streamline Forecast - Benefits All the benefits of Streamlined Budgeting and: Creates accurate forecasts and budgets Creates accountability Gives clarity and visibility Drives the organisation forward Makes time and money Constantly looking over the horizon Makes the budget process a breeze!

29 Excel Art

30 Do it now! Want more info? Brenden Russell