Global Accounting Oracle ERP <> Hyperion Consolidation <> Hyperion Planning Global Finance Systems – Change in Mind Set Kobi Altman Head of Global Accounting 1
Global Accounting The “Teva finance way” – Basic principles § Global, multi functional-currencies, § Teva is growing also by constant acquisitions § Independence and responsibility of countries CFO § Big and growing amount of inter-company transactions – goods & services § Regional HQ are not sub-consolidating § One system for legal entities and BU reporting 2
Global Accounting HFM project – Basic requirements § Simple! Ø No customizations & enhancements, Ø All Teva needs should be OOB – regular industrial global concern Ø Rely on best practices Ø Extensive use of validation rules Ø Checks & controls § Many viewers to the systems – responsibilities! § Flexibility to changes § Always there will be entities outside Oracle – Robust solution § Delivery on-time! 3
Global Accounting Finance Global Model - principles One language Quality A higher level of accuracy in Teva’s financial reporting Consistent reporting – global manual for each account Closing Process Shorter Automated Transparency - Enables visibility and traceability on all levels of the organization Standardization Simpler processes Knowledge sharing Training 4
Global Accounting Finance Global Model – principles (Cont’) M&A - facilitate the integration of new companies Inter-company Automated Products history and origin One database – everyone fish in the same pond Modern system – future product roadmap XBRL Future connectivity to Hyperion Planning Future drill down to Oracle GL Future version releases Shared service centers SOX 5
Global Accounting GARP - What are we trying to achieve? § Shorten the quarterly closing process while improving quality, by: Ø Adopt best practices Ø Automate manual process Ø Improve the subsidiaries reporting package tools and processes Ø Keep it simple § Build the infrastructure to support Teva’s growth strategy and the derived changes while complying with the current needs and org structure, by: Ø Move from in-house built solution to product Ø Identify the Teva’s consolidated building blocks Ø Keep some flexibility for future unpredicted needs User’s Bottom Line: Easier and Better Reporting Process 6
Global Accounting Why HFM? Part of Teva’s Oracle strategy Big customer-base (enjoy other’s requests, secure Oracle commitment) Very reach functionality – automated cash-flow, Web forms for Notes, reports, interfaces Process control Robust solution for currencies handling Users friendly – Finance oriented, maintained by the users 7
Global Accounting Phase 1 Architecture HFM 4 Reporting Consolidated Building Blocks 2 cash flow appendix Data Master Data 3 FDQM 1 all dimensions TNA Coda Prod Other Data Sources 8
Global Accounting Project Timeline 9
Global Accounting Key Success factors – Interim conclusions § Go by the “book” – Do not make bypasses § Identify your overall IT Strategy before “jumping” into the project § Plan enough time for functional design. A project is an opportunity § Do not push the timeline. “If it should take a year – it will take a year” § Do not compromise on the teamsuppliers qualityexperience § Deep involvementcommitment of the business 10
Global Accounting Thank you! 11
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