Delivering Accountability Across the Enterprise With Hyperion Financial Management At TV Guide Diane Furst, Manager Financial Systems – Gemstar-TV Guide International, Inc. Eric Erikson, Regional Practice Lead – Answerthink, Inc. Session #3050
Sep 14, 2014
Delivering Accountability Across the Enterprise With Hyperion Financial ManagementAt TV GuideDiane Furst, Manager Financial Systems – Gemstar-TV Guide International, Inc.
Eric Erikson, Regional Practice Lead – Answerthink, Inc.
Session #3050
Gemstar-TV Guide presentation 2
Introduction
Gemstar-TV Guide leapfrogged from HFM 3.0 to powerful new 3.5 features.
Upgrade provided excellent tools for Sarbanes-Oxley compliance.
Enhanced capabilities to accommodate Actual, Budget and Forecast data, manage performance, maintain consistent processes to deliver greater accountability across the enterprise.
Future plans include Gemstar-TV Guide's vision for delivering executive dashboards.
Your Logo Here
Gemstar-TV Guide presentation 3
Agenda
Company Overview
Starting Point – Live on Hyperion Financial Management 3.0 for Actual Scenario only
Budget/Forecast Project Objectives and Goals—Project Overview – New Budget, Forecast Scenarios,
Data Roll—Lessons Learned, Final Results
Hyperion Financial Management 3.5 Upgrade Project Objectives and Goals—Project Overview – Process Management screen,
Data & Task Audit for SOX—Lessons Learned, Final Results
Q & A Your Logo Here
Gemstar-TV Guide presentation 4
Company Overview
Gemstar-TV Guide International is a leading, global media and technology company that develops, licenses, markets and distributes products and services that simplify and enhance television guidance and consumer entertainment.
The Company's businesses include television media and publishing properties, interactive program guide services and products, and technology and intellectual property licensing, which are united and marketed under the renowned TV Guide® name, one of the most widely-recognized, trusted and valued brands in the world.
Your Logo Here
Gemstar-TV Guide presentation 5
Company Overview
General:
Over $800M in annual revenue
Over 2,000 employees
International, multi-currency
Budget stored in 3 General Ledger systems:
J.D. Edwards World, Epicor (two instances)
Lawson HR System for headcount
Corporate office in Hollywood, California Your Logo
Here
Gemstar-TV Guide presentation 6
Company Overview
Business Segments:
Publishing - TV Guide Magazine, TV Guide Online, Merchandise Licensing, Data Solutions, SkyMall
Cable & Satellite - TV Guide Channel, Interactive, International, TV Games Network
Consumer Electronics / Licensing - TV Guide On Screen, GUIDE Plus+, VCR Plus+, Gemstar-TV Guide Europe, norpak Canada
Your Logo Here
Gemstar-TV Guide presentation 7
Answerthink Overview
Service Offerings Full Implementations
Upgrades
Diagnostics & Assessments
Optimization Services
Reporting Integration
Training
Hyperion Practice 100’s of implementations and upgrades More consultants focused exclusively on Hyperion products – 80+ High percentage Hyperion certified consultants Focused on all of Hyperion’s applications and technologies
– Financial Consolidations Domain – Hyperion Financial Management and Hyperion Enterprise– Enterprise Planning Domain – Hyperion Planning and Hyperion Strategic Finance– Analytics & Reporting Domain – Hyperion BI Platform (Essbase, tools and Performance Suite)
Gemstar-TV Guide presentation 8
Budget and Monthly Reforecast Issues
Manual and labor-intensive – Excel spreadsheets
Error-prone process
Master spreadsheet too large to e-mail
Lack of standard methodology across the enterprise
Foreign currency translation inconsistencies
Needed automated Variance Reporting using Actuals scenario
Your Logo Here
Gemstar-TV Guide presentation 9
Budget Project Objectives/Benefits
Improve timeliness of budget/forecast consolidation & reporting
Ensure completeness and accuracy
Create transparency of budget/forecast data
Deliver information to management via easy-to-use tools
Free up time for more qualitative analysis
Improve efficiency and productivity through automation
Standardize data structures Your Logo
Here
Gemstar-TV Guide presentation 10
Approach
Redesign the planning processes, yet keep users with their tools and charts of accounts for budget creation.
Leverage Hyperion Financial Management technologyHyperion Financial Management used for:— Budget versions— Monthly reforecast
Reporting and analytical functionality
Hyperion Application Link, VBA, and HFMLNK used for data integration
Reporting delivered via:— Hyperion Reports— Excel Add-ins: Pivot and Retrieve Your Logo
Here
Gemstar-TV Guide presentation 11
Budget Project Timeline
Jun | Jul | Aug | Sep | Oct | Nov | Dec | 2004
Business Process Redesign
Hyperion Implementation for Budget
Go Live
Board Book
Final Report
Your Logo Here
Gemstar-TV Guide presentation 12
Improve the Planning Process
HYPERION REPORTS
HYPERION FINANCIAL
MANAGEMENT
J D Edwards
Epicor GL
Foreign Files
Platinum GL
Lawson HR
BUDGET MANAGEMENT SOLUTION
Profit & Loss Capital Expenditure 5-Year Plan Key Perf
IndicatorsDepartmental
Plans
Hyperion Application Link / Translation Manager
Executive Dashboard, Extended Analytics – future
Board of Directors Package
Retrieve Reports for BU Powerpoint
Planning, Budgeting and
Forecasting
Consolidation and Reporting
Your Logo Here
Gemstar-TV Guide presentation 13
Application Dimensions
Entity – Managerial: Segment -> Business Unit -> Product
Account – Balance Sheet, Income Statement, Cash Flow, Statistical (KPIs)
Scenario – Actual, CurFcst, PriorFcst— Prior prior forecast i.e. JanFcst, FebFcst . . . DecFcst — Budget_v1, Budget_v2, Budget_v3, Budget_v4, Budget
Year – 2001: Dec YTD, 2002: Quarterly, 2003 – 2015: Monthly
Period – Year -> Quarter 1 – 4 -> Jan - Dec
Custom 1 – Cost Center i.e. Finance, Customer Svc, IT, Operations
Custom 2 – Geography i.e. Americas, EMEA, Asia
Custom 4 - Flow
Your Logo Here
Gemstar-TV Guide presentation 14
Budget Load Methods
TV Guide Magazine - JDE data entry, extract, and HAL load to HFM
Cable & Satellite - Epicor data entry, extract, and HAL load to HFM
SkyMall - Excel spreadsheet with VB Button exporting text file and load HAL load to HFM
Consumer Electronics – VBA scriptButton export to text file, load HAL load to HFM
5 Year Plan - Excel spreadsheet with HFMLNK link to HFM
Cap Ex - Excel spreadsheet with Link to HFM
Corp P&L and 5-Yr - Excel spreadsheet with Link to HFM Your Logo
Here
Gemstar-TV Guide presentation 15
Budget Process Data Flow
Gemstar-TV Guide presentation 16
Budget Template with VBA Button
Your Logo Here
Gemstar-TV Guide presentation 17
Text File Exported by VBA Script
Your Logo Here
Gemstar-TV Guide presentation 18
Forecast Data Roll Summary
ETC Scenario – Estimate to Complete
All data loads, data entry via Web Forms / Data Grids are in the ETC scenario
During Accounting Close, prior month Actuals are copied to ETC
ETC scenario is copied to CurFcst scenario for reporting
At month end, CurFcst is copied to PriorFcst
PriorFcst is archived in the prior prior fcst scenarios - JanFcst, FebFcst
Your Logo Here
Gemstar-TV Guide presentation 19
Business Process Change
Process change was critical to successful transformation of budget process
Budget Templates submitted earlier
Improvements in Planning processes
Foreign currency translation moved to Hyperion from Excel
Same Chart of Accounts as Actuals
Your Logo Here
“-----Original Message-----From: SVP Finance To: TeamCC: Chief Financial OfficerSubject: Hyperion Budget Validation HUGE accomplishment! Well done! Truly a team effort! -----Original Message----- From: Manager FPA To: Team, SVP Finance Subject: Hyperion Budget Validation Validation was successfully completed by all Business Units and Corporate. The total Revenue and EBITDA for the year agrees to our budget master file within rounding.”
SVP Finance to CFO
Gemstar-TV Guide presentation 21
Lessons Learned
Lock down Templates so business units cannot copy rows
Test, Test, Test
Your Logo Here
Gemstar-TV Guide presentation 22
Improve Planning Process Final Results
Old Budget Process— Excel-based consolidation process— Highly manual— Lack of reporting and analytical capabilities— Lack of financial controls
New Budget Process— Hyperion Financial Management, Reports— Highly automated— More detailed data — Improved reporting and analytical capabilities— Improved financial controls
Your Logo Here
Gemstar-TV Guide presentation 23
Hyperion Financial Management 3.5
Upgrade Project
Gemstar-TV Guide presentation 24
Issues To Be Resolved for SOX Compliance
Original security design weaknesses
Hyperion Application Link design issues
System stability – 2-tier with web server, combined application-database server
3rd party web application server software issue
Time-consuming Data Grid drill-down to review Process Management
No method to audit Data Entry
Task traceability issue for separation of duties
No detection of users logged on Your Logo
Here
Gemstar-TV Guide presentation 25
Security Redesign
New security classes for scenarios
Your Logo Here
Gemstar-TV Guide presentation 26
Security Role Access Matrix
Your Logo Here
Gemstar-TV Guide presentation 27
Security Redesign – Process Flow
Your Logo Here
Gemstar-TV Guide presentation 28
Security Redesign – Journal Flow
Your Logo Here
Gemstar-TV Guide presentation 29
Security Redesign – Role, Class Access
Your Logo Here
Gemstar-TV Guide presentation 30
Upgrade Project Objectives & Benefits
New features needed for Sarbanes-Oxley compliance
Revised security design ensuring data integrity
HAL Optimization to automate the extract/load process
Improve system availability, stability
Process Management promotion view
Your Logo Here
Gemstar-TV Guide presentation 31
Project Plan
Your Logo Here
Gemstar-TV Guide presentation 32
Financial Systems Server Layout
Gemstar-TV Guide presentation 33
New Features
Home page with Tasks, Favorites, and Links
Workspaces tailored to each Business Unit
Wizard for Web Data Entry Form developer
Process Management screen
Users on System
System Messages
Task Audit
Data Audit
Entity Details screen Your Logo
Here
Gemstar-TV Guide presentation 34
New Home Page with Tasks, Links
Your Logo Here
Gemstar-TV Guide presentation 35
New Process Management Screen
Your Logo Here
Gemstar-TV Guide presentation 36
New Task Audit
Your Logo Here
Gemstar-TV Guide presentation 37
New Data Audit
Your Logo Here
Gemstar-TV Guide presentation 38
New Entity Details Screen
Your Logo Here
Gemstar-TV Guide presentation 39
Final Results
Improved financial controls on HFM 3.5
Task Audit shows all tasks filtered by user
Data Audit shows date, time, user, amount entered
Process Management shows date, time, user who promoted, comments
Your Logo Here
“There is no material deficiency
or significant weakness.”
Earnings Call, 2/23/2005
Delivering Accountability Across the Enterprise With Hyperion Financial Management At TV Guide
Diane Furst, Manager Financial Systems—Gemstar-TV Guide International, Inc.
Please Complete Your Session Evaluation
Session #3050
Eric Erikson, Regional Practice Lead—Answerthink, Inc.