Join Our Newsletter!
join

CASE STUDIES

  • Downer

    Project Summary

    Challenge

    After 18 months of successfully running Hyperion Financial Management (HFM), Downer EDi looked to streamline the operational processes and build additional consolidation functionality. Since the completion of the original project, Downer EDi had made several improvements to the system and had deployed it to more users in the Downer community but felt that more improvements could be achieved. Downer EDi went to market to select an organisation capable of providing both extensive knowledge of the toolset, HFM and Financial Data Quality Management, and importantly, excellent group accounting knowledge.

    Approach

    Downer EDi selected Taysols as its preferred service provider and work commenced straight away. Firstly, the HFM rules were streamlined resulting in a significant reduction of calculation times and, as importantly, providing greater levels of transparency into the derivation of results. Following the streamlining portion of the engagement, Taysols then significantly expanded functionality within the system and bolstered both the quality and quantity of reports.

    The Cash Flow modifications allowed every division and business unit to have visibility into cash and non-cash movements and significantly reduced the effort in compiling these results. The collation and calculation of Forecast and Budget was also improved which enabled far greater accuracy, stability and timeliness of this important process.

    Solution

    Through greatly improved reporting and the streamlined rules and associated validation principals, far greater insight into the financial information was achieved thus providing benefit to both auditors and group finance alike. Taysols and Downer EDi created a covenant system in HFM for the provision of reports to financial institutions, now required on a monthly basis. Previously, these reports were required on a 6 monthly basis and took around 2 weeks to compile. After the Taysols work, these reports are now available in less than 2 hours.

    Key to Taysols selection was the professional approach and the quality of references provided. Reference calls can be quite revealing. The Taysols clients we contacted praised their professionalism and their subject matter expertise. A key differentiator was the resounding endorsement for the Taysols consultants.

    Peter Reichler

    Chief Financial Officer

  • Cimic Group Limited

    Project Summary

    Challenge

    In 2008, Cimic Group (formerly Leighton Holdings Limited) embarked on an initiative to replace its Hyperion Enterprise application, which had served it well for over 5 years. They scoured the market for a replacement technology and, after narrowing the contenders to a short list, selected Oracle’s Hyperion Financial Management (HFM) solution. Cimic (at that time Leighton Holdings) selected Taysols to assist them on this journey because of its successful track record in delivering consolidation-oriented projects.

    Approach

    Taysols assisted Cimic with the design and project management of the application, utilising Cimic staff wherever possible. After the design had been agreed by the steering committee, the system was built in HFM ensuring strict adhesion to Statutory reporting requirements. All historical information was reproduced and reconciled in the new application to ensure historical compliance.

    Solution

    The business rules built by Taysols now gives the Cimic Group the ability to report in two different financial years using the same base data, without duplication. As a result, time-offset reporting is now streamlined and quickly verifiable. Given HFM’s enhanced technical and functional abilities, new reports and calculations were created to add value to the internal and external reporting processes. HFM’s web forms were complimented by its new Smart View technology for data collection ensuring that validation rules were passed prior to submission, greatly increasing the ‘first pass’ data quality and thereby reducing reporting effort and timelines.

    The Taysols team was able to assist the finance team as well as provide strong technical guidance. Taysols were intimately involved in developing every aspect of the new system.

    Carlos Mendes

    Group Chief Accountant

  • Corporate Travel Management

    Project Summary

    Challenge

    Corporate Travel Management continues to enjoy meteoric growth in a highly competitive market place. This successful growth has occurred both organically and through a series of acquisitions and in order to facilitate future plans, CTM needed to invest in industry leading performance management solutions in order to facilitate streamlined internal and external reporting requirements.
    In keeping with their approach to cost effectiveness and foundation building, CTM went to the market to select tools, implementation partners and environments to help them achieve this goal.
    The solution needed to be in place quickly, be easy to use and require very little on going administration and given the leanness of the operations, CTM sought an established hosting provider capable and experienced in hosting the selected tool.
    Initially, the service focus was on the establishment of advanced consolidation functionality to satisfy both statutory and management reporting needs however the platform needed to facilitate budgeting and forecasting in subsequent phases.
    Given the geographically dispersed nature of the company and the fact that its operations make use of a variety of ERP systems, some of which, specifically in Asia, are based on CJKV Character sets, the solution needed to accommodate easy to use data loading and translation facilities. The system also needed to be accessed by the users 24/7.
    From a business perspective, CTM require the full suite of consolidation functionality including intercompany elimination, foreign currency translation, equity accounting fully derived cash flows and production of reporting packs.

    Approach

    Following a review of the software marketplace, CTM decided upon the Hyperion Financial Management (HFM) solution with Financial Data Quality Management Enterprise Edition (FDM) as the data integration tool. Once this decision was made, CTM went to market for a system implementer and sought pricing and approach from a short list of providers.
    The aim of the project was to upskill CTM finance staff on the use of the solution so as to minimise ongoing consulting costs. Further, the solution needed to be in place so that consolidation of the new financial year could commence with HFM.

    Solution

    CTM selected Taysols to design, build and deploy the solution and to train CTM users. This was delivered under a fixed price arrangement. Taysols was also selected to host the solution due to its extensive experience with hosting performance management and business intelligence products for some of Australia’s largest public companies.
    Having the solution hosted by a fully certified experienced organisation that could also provide all of the design, build, training, deployment and support of the solution removed any grey areas and allowed CTM to simply get on with their business confident in the knowledge that the solution was optimised for their needs and managed by experts. This significantly increased the Return on Investment and allowed usage of the system to occur in a trouble free rapid manner.
    Taysols commenced design in early March 2014 and delivered the project on time and to the original fixed price budget.

    There are a number of vendors out there that purport to offer the complete range of services required to undertake a hosted performance management solution and on the surface, they all look fairly similar. Once we dug a little deeper however, the choice became simple and we selected Taysols because of their unparalleled experience with the enabling technology, group accounting and, very importantly their hosting track record. The fact that they delivered on time, on budget and we have not had a single issue with their hosting only emphasises the validity of our decision. Their people are top notch.

    Paul Healy

    Head of IT

  • Brambles

    Project Summary

    Challenge

    Brambles were previously using Hyperion Enterprise. They wished to improve their control over the consolidation process by ensuring all users could see the same data at the same time; having one location for intercompany eliminations which all operating companies could view; simplifying the process of maintaining the integrity of the data. This was previously difficult and time consuming e.g. confirming historical data had not been changed; embedding the knowledge of the consolidation process in a rigorously defined system understood by several employees rather than just one; and introducing direct loading from their ledgers to their consolidation system.

    Approach

    A steering committee was then formed involving representatives from Taysols, Group Finance and IT. The Taysols lead consultant worked closely with group finance to understand their requirements and relate them to the functionality of HFM. This extended to reviewing the group chart of accounts which had already been redesigned to ensure it fully exploited the new features of HFM such as custom dimensions. Taysols involved the client staff at every stage of the implementation so that by go live they were able to fully support the system.

    Solution

    Taysols delivered a group consolidation system built in HFM utilizing custom rules, process control, and multiple currencies. Actual, budget and forecasts are all restated at multiple rates across the P+L and Balance Sheet. Taysols implemented reporting and analysis tools that are available through Hyperion Smartview (Excel) and Hyperion Financial Reports (online) and enabled integrations of 30 ledgers across the world with the consolidation system.

    Taysols is an Oracle partner with experience, capability and shared vision for excellence. They well and truly lived up to their ‘do it with you, not to you’ slogan, which was instrumental in the project's success.

    Stephen Harman

    Controller - Financial Reporting

  • HCMA

    Project Summary

    Challenge

    Hitachi Construction Machinery Australia implemented Hyperion Planning approximately 3 years ago. While it has been running successfully, no major improvements had been made to the budgeting process over that period of time. There was a lack of quality support and any minor changes seemed to take much longer and cost a great deal more than expected due.

    Approach

    The budgeting process runs from September through to March with at least 100 users providing input into the solution. Hitachi Construction Machinery Australia engaged Taysols Support to provide the necessary support during the budgeting window. Hitachi Construction Machinery Australia were given access to Taysols’ 24/7 support portal which allowed them to enter in any support and/or enhancement requests in relation to Hyperion Planning and the budgeting process.

    Solution

    Hitachi Construction Machinery Australia received timely support and were able to consistently track and monitor where various support and enhancements requests were at. Additionally, Taysols provided training for key users of SmartView which was previously being under-utilised. All support requests were responded to in a timely manner and the solutions provided positively impacted the budgeting process.

    This year Hitachi Construction Machinery Australia had a very successful budgeting cycle, which allowed them more time to finetune the budget before its submission to Japan. Through the additional SmartView training, the IT and Finance teams were able to be more self-sufficient for a large proportion of the queries that came in from the Branch Managers without having to escalate them any further.

    Previously the notion of Forecasting through Hyperion Planning during the year was not considered. However, Hitachi Construction Machinery Australia are now considering this and further reporting from Hyperion Planning due the consistent system experience this time around. Forecasting and Reporting will further help improve the budgeting process next time.

    Whenever we contacted Taysols they were very responsive and provided the solution to our query or problem in a time frame that often exceeded our expectations. As a result people had the information they required and the budget process flowed very smoothly allowing us to meet the deadlines given to us by Hitachi Construction Machinery Japan.

    Saravan Marimuthu

    General Manager Finance

  • Toyota Tsusho

    Project Summary

    Challenge

    Increased reporting requirements necessitated a rapid turnaround of information from disparate sites that needed to be verified, consolidated and forwarded to the executive and to Japan. The current systems and spreadsheets were viewed as lacking the flexibility and internal controls to support a robust consolidation and reporting requirement. To this end, Toyota went to the market for specialised consolidation and reporting solutions that, whilst initially focused on the immediate need of consolidations, formed a part of an overall Business Performance Management framework so that future growth and process reformation could be enabled.

    Approach

    Toyota contacted Hyperion as it is a recognised leader in this “space” with solid credibility who in turn requested that Taysols, experts in consolidation and reporting, liaise with Toyota with the aim of mutually analysing Toyota’s requirements and designing a suitable solution.

    Solution

    A web-enabled statutory and management reporting solution was rolled out to eight countries in the South Pacific after a three-month design and build project. Less time is now spent at head office producing manual reports in spreadsheets and reconciling management and statutory data. Management reports, that previously were different in each country, are now accessed by all users from a centrally defined report repository ensuring consistency across the group.

    Taysols’ consolidation expertise added great value to reforming our group reporting processes; jointly we designed and deployed a solution that is future-proof and forms the basis of an ongoing strive towards better a Business Performance Management practice. Taysols’ dedication to this project was remarkable.

    Dinesh Chand

    Group MIS Manager

  • University of Sydney

    Project Summary

    Challenge

    A lack of a consistent standardised reporting framework across the University and the sheer volume of reports (in excess of 48,000 annually) made reporting a time-consuming and cost-intensive exercise at the University of Sydney. The process for the management of budgeting, forecasting and modelling was also widely viewed as inadequate with a lack of opportunity for flexible management of budgets and forecasts. A formulation and implementation of a Business Performance Management strategy was urgently required to allow for improved decision making capabilities and growth in an increasingly competitive tertiary education sector.

    Approach

    The University's primary project objective was to provide a robust, future-proof management reporting environment to enable specialised, periodic and/or on demand reports capable of meeting existing and envisaged information demands. Taysols' role included the formulation of a BPM strategy and the conduct of a subsequent business impact analysis exercise. Taysols designed, architected and project managed the evaluation and subsequent implementation of a data warehouse, budgeting & planning and enterprise reporting environment in what is to date regarded as the largest EPM implementation in the Southern hemisphere.

    Solution

    Taysols established a comprehensive Hyperion-based solution which has dramatically streamlined the university's reporting and planning processes. Since implementing this solution, the university has reduced the types of reports it produces from 300 to 75 and has shortened its budget cycle by 50 percent. Armed with accurate and timely information, the university can now make better management decisions.

    Implementing a unified Enterprise Performance Management platform in a diverse environment like the University is a difficult undertaking. The leadership of Taysols greatly assisted the University in achieving the desired outcome and realising the associated benefits. We are now in an excellent position to build on our gained capabilities and incorporate other systems in the EPM framework.

    Patrick Woods

    Director Financial Operations and Systems

  • University of Technology

    Project Summary

    Challenge

    UTS has encountered technical limitations in its current set of enabling technologies in the areas of budgeting, forecasting and reporting. Rather than taking a “band aid” or ”siloed” method of resolution which would normally result in short lived gains and long term pains, UTS has wisely decided to adopt a strategic approach to formulating a strategy, vision and a ‘roadmap’ to its enablement . Once endorsed by senior stakeholders and University leadership, UTS will begin on the path of systems revitalisation. Taysols was engaged to assist the University in developing a high level vision and strategic roadmap for the above mentioned areas.

    Approach

    Taysols developed a three stage approach for the University. Stage One involved a series of workshops and one-on-one interviews to establish the current position – As Is. At the conclusion of this process, a detailed review of the current processes and technologies was documented and agreed by the project’s steering committee. This document includes sections describing the desired state, ensuring that the needs of both end users and the centralised unit are recorded. Stage Two will produce a To Be document which draws extensively on the current situation and also on the desired state. A series of alternative system architectures and processes has been suggested for ratification by the project’s steering committee. Stage Three will see Taysols bridging the gap between the current situation and the desired state by outlining a roadmap for the University. This roadmap will guide UTS toward streamlined processes, a surefooted support model and a cost-effective platform for budgeting, reporting and forecasting.

    Solution

    UTS selected enabling technologies, garnered the intellectual property in its staff and embarked on a finance improvement realisation program. The solution was developed to assist UTS with phase I of the road map, allowing time to settle before launching into subsequent phases of the journey.

    Taysols was selected by UTS because of its solid understanding of budgeting, reporting and forecasting processes and for its depth of expertise across a wide range of market leading technologies. These skills are supported by extensive experience in the University sector.

    Patrick Woods

    Deputy Vice-Chancellor and Vice-President (Resources)

  • LexisNexis

    Project Summary

    Challenge

    LexisNexis embarked on a program of work to improve the quality and breadth of Business Intelligence (BI) and Enterprise Performance Management (EPM) across the organisation. This program is seen as a critical part of ensuring LexisNexis meets its strategic goals of increasing and retaining its leading market share and delivering the highest possible quality products, services and solutions to its customers. Initial areas of focus were sales reporting, client attrition and the integration of financial, sales and operational planning processes to provide a consistent view of information and a consistent set of tools across different areas of the business. LexisNexis is an information business and the ethos of extracting maximum value from the information that is already being collected in different systems is core to the program.

    Approach

    Adopting an approach that is low risk and that provides clearly defined and tangible results along the way was important to LexisNexis. Taysols was engaged to create a target architecture and integration blueprint which resulted in the building of a centralised repository and data integration capacity. This included recognition of the vision of the project and realistic timeframes and plans to achieve the vision, ensuring wins along the way and flexibility to change course due to unforseen or emerging business requirements; create a common set of definitions, structures and metrics which required extensive workshopping, negotiations and adjustments to source systems, translation and loading routines along with political cohesion; produce a pilot to a reduced number of users, for a subset of information, to ensure quick wins and to validate the approach and ease change management ramifications (which are extensive); and run Parallel Performance Management processing during peak periods to ensure data integrity and for BI, to ensure rapid delivery of contextualised and relevant information to stakeholders.

    Solution

    Taysols established an enterprise data warehouse with data taken from a number of systems across the organisation and built a unified dimensional model across different subject areas in the warehouse to better facilitate analysis of information. Furthermore Taysols transformed reporting capacity with dashboard reports and ad-hoc analytics available to a wide user base including Sales, Finance and Professional Services.

    Additionally Taysols developed an integrated financial planning process that allows deriving accurate quarterly forecasts.

    The relationship with Taysols has developed into a true business partnership extending beyond the end date of the initial project. Today we keep jointly working on system enhancements resulting in tangible benefits to LexisNexis.

    Alan Wylie

    Chief Financial Officer