Process - Accountagility
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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.