Transcript Process - Accountagility

Introduction to ORYX
Agility without Control
Accounting by Spreadsheets presents the following challenges to Finance:
 Unacceptable rate of error (88%*)
XLS
XLS
 Highly manual, with …
 … limited automation potential
XLS
 Lack of audit trail and evidence of process
 Tough to implement effective governance
XLS
XLS
 Undocumented processes
 Spreadsheet OLAP difficult and unpredictable
These factors make spreadsheets expensive
* Study by Panko (2008)
Control without Agility
Working with Dashboard or Reporting Solutions presents some different
challenges:
 Do not enable data processing on demand
 Limited ad-hoc functionality
 Drill-to-source capability can be limited
 Requires high up-front investment in software
 Technically proficient staff are hard to retain
 Long implementation and change control cycles
The high technical barriers lead to a shortage of suitably skilled people in
the market. Realised benefits fall short of expectations often because of a
sluggish response to business change.
Control or Agility?
High cost
OLAP
Tools
Dashboards
Control
Agility
Spreadsheets
Low cost
Add More Value
Before ORYX..
With ORYX
80% of time - Crunching data
80% of time – Adding value
20 % of
time
80 % of
time
80% of
time
20% of
time
Analyse and
Add value
End-to-End Automation
Spreadsheets and Dashboards primarily
focus on Presentation
(Analysis and Reporting)
NOT
DATA PROCESSING
Process Automation requires
both Data Processing
And Presentation
Introducing ORYX for Finance
ORYX is a desktop solution that significantly reduces number-crunching,
provides control and retains agility by automating:
 Processing
 Reporting
 Analysis
 Reconciliations
 Consolidations
 Planning
 Workflow
 Journals
… improve performance whilst still retaining ad-hoc capability
ORYX Principles
ORYX is built on the following principles:

Golden Source

Build once use many

Governance & Control

Standardisation and Consistency

Automation

Integration

User Empowerment

Leverage Existing Infrastructure

Single Environment
How ORYX Works
ORYX automates complex processes end-to-end with a single click:
Acquire data
from multiple
sources
-
Validate to
detect and
prevent errors
Process large
data sets
accurately
and reliably
Report
Allocate
Analyse
Reconcile
Consolidate
Plan
Present
information with
user friendly
tools
Acquire
 Obtain and process data from
multiple databases
 Only extract required data
(Performance)
 Used existing sources
(No redundancy, inconsistency,
duplication)
 Use existing mappings and
reference data
 Data also obtained from text
(CSV etc), spreadsheet, XML, etc
Validate
 Validation embedded into
processes (eg. data
mapping tests)
 Test applied irrespective of
who runs the process
 Allows data from multiple
sources to be combined in a
controlled way
 Tests easily added to existing
processes to prevent new
errors
 ORYX processes become more
robust over time, not less
Process
 Processes normally
automated without scripting
 Full parameterisation using
filters
 User feedback in real time
 Full process logging:
Rules-Based Processing

Sequential rules-based
processing

Full process visibility

Greater process agility

Process configuration
changes quickly
prototyped and deployed

Change rules /process
without costly rebuild

Full rule validation before
processing starts
Analyse Data
 Drill to transaction
 Query data at any
level of detail
 Full Audit trail
Dimensional Analysis
ORYX OLAP functionality provides intuitive analysis, slice-and-dice, KPIs,
all with rapid drill-to-source.
Present and Report
 Turn existing analysis views into a
distributable report with a few clicks
 Reports can be rapidly adapted to
changing business requirements
 ORYX reports balance to the
original analysis, reducing issues
arising from having “multiple
versions of the truth” and
improving query resolution time
ORYX Forms and Scripting

Familiar form design
framework (based on .NET)

Developer optimisations

Scripting available where
custom actions / logic
required

Full intellisense / inline help
provided
ORYX Community
ORYX has been implemented in various large multi-national
organisations with users located globally: UK, Europe, USA, Australia,
Hong Kong, Singapore and others.
“With ORYX systems
reconciliation has reduced from
2 hours to 5 minutes - 95%
time-saving”
“ORYX has cut the process
time from 4 hours to a few
minutes during the month
end”
“ORYX has saved 90%
time with expense
report automation:
4.5 working days saved”
ORYX Benefits
Performance
Delivery
Agility
Lower Risk
Reduced Costs
ORYX reduces 40-hour possesses to minutes. In fact, a single ORYX development
has saved an investment bank approximately £650,000 per year.