Transcript IFRS, XBRL and BPM

IFRS, XBRL and Business
Performance Management (BPM)
Control, confidence and automation of global compliance
reporting
Agenda
 Finance industry trends
 Business Performance Management (BPM)
defined
 BPM’s value proposition
 Automated delivery of compliance reporting
 Benefits, future leverage and client activities
Introduction
 Trevor Walker
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VP, Product Marketing Cartesis
Driving global product strategy
10 years BPM and reporting experience
4 years in IT and integration infrastructures
Cartesis is a leading global software provider
focused on Business Performance
Management
We provide multinational companies with a
unique best of breed, real-time
collaborative business performance
management solution to “deliver the whole
story behind the numbers" with
unparalleled clarity and insight.
Cartesis has been delivering BPM for
over 14 years
 Full Service Software
1990
Company founded in 1990
 The Cartesis Suite
1997
 Cartesis Magnitude, Magnitude
Planning, Magnitude iAnalysis and
Cartesis ICS
1999
2002
2004
The Top Five CFO Challenges from a
recent survey
Four of the top five challenges are dependent on
creating an integrated BPM infrastructure for
unified reporting and performance management
 Improving performance management
 Improving governance, controls, risk
management
 Improving planning, forecasting and budgeting
 Improving access to appropriate information
 Improving competencies/skills
These trends drive toward key best
practices in performance management
 Integrated BPM process and system framework
 Streamlined data flows
 Enhanced data granularity and transparency
 Consistent fiscal and management data views
 Unified compliance and management reporting
 Ability to expose metrics to dashboards/scorecards for
monitoring, alerting and optimization
 Ability to layer in internal and external benchmarking
So what is Business Performance
Management (BPM)?
 BPM is a set of integrated, closed-loop management and
analytic processes, supported by technology, that address
financial as well as operational activities.
 BPM is an enabler for businesses in defining strategic
goals, and then measuring and managing performance
against those goals.
 Core BPM processes include financial and operational
planning, consolidation and reporting, modeling, analysis,
and monitoring of key performance indicators (KPIs)
linked to organizational strategy.
Unifies financial, compliance, risk and
management reporting
Corporate Governance
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Finance
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Operational Finance
Analysis & Reporting
Forecasting
Consolidation
Strategic Planning
Performance Measurement
Business Modeling
Budgeting
Customer
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Segmentation
Profitability
Market Success Factor
Analysis
Human Resources
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Salary & Comp Planning
Employee turnover
& retention
Incentive management
BPM and the impacts of XBRL
Real-Time BPM
Regulatory
compliance
BPM
Integration
- ERP, SCM, PLM,
CRM and HCM
- BI
BPM
Analytics
- Scorecard,
dashboard
Financial
Consolidation
& Reporting
Planning/budgeting
- Discrete Deterministic
- Discrete Predictive
- Continuous Predictive
BPM
&
Process
management
Technology
trends
-BPM Components,
SOA, web services
-BPM Metadata repository
-Distributed access
-Central hub/portal
Software
Performance
&
Availability
BPM and the impacts of XBRL
Real-Time BPM
Regulatory
compliance
BPM
Integration
- ERP, SCM, PLM,
CRM and HCM
- BI
BPM
Analytics
- Scorecard,
dashboard
Financial
Consolidation
& Reporting
Planning/budgeting
- Discrete Deterministic
- Discrete Predictive
- Continuous Predictive
BPM
&
Process
management
Technology
trends
-BPM Components,
SOA, web services
-BPM Metadata repository
-Distributed access
-Central hub/portal
Software
Performance
&
Availability
Value proposition of XBRL with BPM
 Bridge the gap between systems, accounting
standards and global reporting
 Enables standard way of tagging financial
information for structure, content and meaning
 Direct comparability of internal and external
financial information
 Essential part of making IFRS data globally
accessible, consistent and comparable
XBRL solves current issues with global
financial and compliance reporting
 Thousands of companies release financial results
internally and externally daily, monthly, quarterly, and
annually
 Contents are not organized
 Processes are not repeatable
 Lots of data must be re-keyed
 No easy way to compare internally, let alone externally
XBRL provides strategic and cost reduction
benefits
 Streamlined processes for collecting, comparing and
reporting financial information
 Reduced costs
 Improved financial communication and transparency
 Increased data accuracy
 Direct comparability
 Multi languages and accounting standards support
 Improved risk management and control
 Ease of maintenance
 Faster, more reliable and extended scope of analysis
capabilities for better decision-making
Strategic value is the direct comparability of
internal and external financial information
And the automation, transparency, and
comparability
 One time setup of tags and maps for automated
processing
 Rich set of tools embedded in products like Cartesis
Magnitude
 Transparency from source through disclosure to
compliance agencies
 Investors and analysts easy side-by-side and line-by-line
comparison
 Different languages and accounting standards in a single
solution delivers on the “single truth” message
Organizations are challenged by many
reporting needs and no standard delivery
Companies
Disclosure
Trading
Partners
Financial Publishers &
Data Aggregators
Management
Accountants
Investors
Auditors
Central
Banks
Regulators
Other
Stakeholders
Financial Control,
Planning, Forecasting,
Process, Validation,
etc…
Sources
GL
Legacy
ERP
CRM
SCM…
XBRL optimizes the information supply chain
with a standard way to deliver reports
Companies
Disclosure
Trading
Partners
Financial Publishers &
Data Aggregators
Management
Accountants
Investors
Auditors
Central
Banks
Regulators
Other
Stakeholders
XBRL
Financial Control,
Planning, Forecasting,
Process, Validation,
etc…
XBRL
Sources
GL
Legacy
ERP
CRM
SCM…
Cartesis is involved globally and strategy to
match client and market needs
 Member of the IASB IT Discussion Group and
will be a member of the French XBRL jurisdiction
 Our strategy
 Step 1: Publish
 Step 2: Consume
 In Parallel: Embedded capabilities & setting
Allowing organizations to leverage and
capitalize on their BPM investments
6 steps to publishing XBRL from Cartesis
1. Import the published taxonomy
2. Map chart of accounts to taxonomy
Setup
Once
3. Pull Cartesis Magnitude data into an
XBRL instance documents
4. Supplement taxonomy items and
instance documents as required
5. Run controls and calculations
included in the taxonomy
6. Publish and email the XBRL file
Repeatable
Publishing XBRL compliance reports – Step
1
Account
Characteristics
Consolidation
XBRL Data
Generation
Opening
Movement
Closing
Collect
data
Apply
Taxonomy Map
Supplemental
Data
Send
report
XBRL
report
Consuming XBRL for comparability, analysis
and benchmarking – Step 2
• Secure receive
• XBRL/XML validation
• Cartesis Magnitude and
Multiple DB’s
• Localized mapping
• Authorization
• Direct update
IASC
Taxonomy
XBRL
World Wide Web
Integrator
Cartesis Magnitude
Consume
Data Warehouses
RDMS
XML
DB
Cartesis Magnitude product enhancements for
embedded XBRL capabilities and settings
 Will be based on what we learn in steps 1 and 2
 Plans include
 Administrative capabilities to configure XBRL
for publication and consumption
 Setup and Manage via XBRL
Aggressively delivering against the strategy
to empower our clients with XBRL
 Clear strategy and roadmap for delivery
 Engaged with clients and recruiting pilot
references
 Still recruiting clients
 Will guide them to referencability in Q2 2005
Thank you and…
Any questions?
Trevor Walker
Cartesis
[email protected]