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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved. 1
Inside Talk
A Journey to Best-in-Class Corporate
Performance Management (CPM):
From Theory to Practice
Alok Ajmera
Kevin F. Vieira, CPA
April 17, 2014
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
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Webinar Materials and Access to Recording
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
CPE Credit Requirements
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Moderator
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Steve Shannon
Director
Partnership Marketing
IMA
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Featured Presenter
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Kevin F. Vieira, CPA
Director of Finance
AAA Southern New England
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Featured Presenter
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Alok Ajmera
Senior VP of Operations
Prophix Software
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Upon completing this webinar, you will be able to:
1. Understand the 5-Levels of CPM Maturity, as
outlined by the leading analyst firm
2. Explain how to align people and process with
technology and data to drive more effective CPM
3. Describe the current landscape of the CPM
solutions market
Learning Objectives
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Corporate Performance Management Overview
Alok Ajmera
Senior VP of Operations
Prophix Software
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Purpose of CPM
• Primary objectives of CPM
Tactical:
Support more efficient financial processes
Provide control and transparency
Strategic:
Enables competitive advantages through
performance management capabilities
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Changing Role of the CFO
• The role of the CFO is integrating more with the
operations of their company
• Finance chiefs have been absorbing more
operational duties
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Trends within the Office of Finance
• There is an increased focus on business analytics
Especially within planning and forecasting
• Finance is pushing the boundaries of planning,
forecasting and strategy management
Deploying more expansive practices
Focusing on enhancing processes
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Gartner’s CPM Maturity Model
• Purpose:
Framework to align financial processes,
organizational strategies and operational execution
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Process
Strategy Execution
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
CPM Maturity Model
• Five levels of Maturity
Unaware (Level 1)
Opportunistic (Level 2)
Standards (Level 3)
Enterprise (Level 4)
Transformative (Level 5)
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CPM Maturity
© 2014 Gartner, Inc. and/or its affiliates. All rights reserved.
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
a) Level 1 - Unaware
b) Level 2 - Opportunistic
c) Level 3 - Standards
d) Level 4 - Enterprise
e) Level 5 – Transformative
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What level of the CPM maturity curve is your
organization at?
Polling Question 1
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Polling Question 1 Results
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Where Do You Fit?
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70%
5%
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Recommendations
• Create a holistic vision for how CPM can enhance
enterprise wide performance management
• Determine where your organization is on the Maturity
Model
• Establish firm foundation on the current maturity
stage, before reaching for the next stage
• Reassess your CPM maturity every six to eight
months
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a) Automatic report distribution
b) Collaborative budget cycle
c) Continuous forecasting
d) Timely financial consolidation
e) Fully interactive data analysis
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Which of the following CPM areas would be your
top priority to improve?
Polling Question 2
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A Roadmap to CPM
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Kevin F. Vieira, CPA
Director of Finance
AAA Southern New England
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
About AAA Southern New England
• Membership organization with over 3.5 million members in
Massachusetts, Connecticut, Rhode Island, and New Jersey
• One of the largest Clubs in the country
• Employs over 2,200 employees
• Offers a variety of services / benefits to members including:
Automotive Services
Travel
Insurance
Consumer Loans
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Reporting and Budgeting Challenges
• Produce 20 stand-alone entities’ results as well as consolidated results
• Disseminate 200 “pages” of results across multiple sites in paper format
• Maintain security of financial and payroll data
• Maintain Excel-based spreadsheets with formulas for budget preparation
Approximately 90 different spreadsheets to complete one budget
Little to no time to analyze data and ensure data integrity
• Provide timely results
• Annual maintenance required for spreadsheets and report writer
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
a) No real workflow or audit trail in place
b) Data is not secure or is error-prone
c) Simply too much spreadsheet or manual
processing
d) All of the above
e) Other
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What’s giving you the most challenge at your
company?
Polling Question 3
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Polling Question 3 Results
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Our Wish List…
• Streamline, standardize, and accelerate processes for report generation and budget preparation
• End-user experience:
Seamless – not required to learn OUR system
Provide visibility while maintaining control
Provide ability to create “what-if” scenarios
• Allow for future organizational growth without sacrificing flexibility
• Optimize and enhance the delivery and accessibility of information
• Allow the finance department to “own” the solution with minimal oversight from the IT department
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
AAA Southern New England’s Roadmap
• Evaluated functionality within our existing systems
• Evaluated competing products similar to our existing systems
• Performed web search for CPM solutions
• Evaluated several CPM solutions with the following in mind:
Ease of use and low ongoing maintenance
Customer support at the critical due dates
Ability to slice-and-dice data
• Launched CPM solution in 2009 for financial reporting and budgeting
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• Report consistency
• Similar Excel look and feel for
end-users
• Users access system when
convenient with up-to-date data
and drill across capabilities into
general ledger
• Instant stand-alone and
consolidated reporting including
budget upon submission
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• Paperless
• Accurate results
• Timely distribution
• Workflow capabilities
• Security-based control
• Easy to maintain
Results and Impact
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Benefits of a CPM Solution
• We have the flexibility to “analyze” vs. “compile” data
• We have a perspective on what “is” happening vs. what
“has” happened
• We perform “what-if” scenarios
• We have the ability to analyze budget to actual payroll
expense by position
• We obtain key metrics and report ratios for further analysis
• We track more than just financial information
• We hold people accountable
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How to Get Started?
• PLAN, PLAN, PLAN – Upfront time will save days
or weeks of time later
• Think of the end game and design backwards
• Ensure your design is scalable
Design with the thought that anything is possible in
a CPM solution
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How to Get Started?
• Automate feeds and processes when possible
Remember – you are implementing a CPM solution to simplify the data sharing process
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• Plan a vacation –
you will need something
to do with all the free time
you will have
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
a) Cloud-based
b) Cost / Budget
c) Implementation time
d) Finance-owned vs. IT-owned
e) Other
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What is the biggest factor impacting your decision
on moving towards automation?
Polling Question 4
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Polling Question 4 Results
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Polling Question 2 Results
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Questions & Answers Use the Q & A Panel to send your questions to our panelists
Alok Ajmera
Senior VP of Operations
Prophix Software
Steve Shannon
Director
Partnership Marketing
IMA
Kevin F. Vieira, CPA
Director of Finance
AAA Southern New England
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved. 36
Alok Ajmera
Senior VP of Operations
Prophix Software
Thank You to Our Featured Presenters!
Kevin F. Vieira, CPA
Director of Finance
AAA Southern New England
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Final Reminders
• Complete the Evaluation poll – on your screen
• Access to your CPE Certificate – 2 Options
Click the “CPE” icon at the bottom of your screen
or
Click the link in your post-event email
• Please print or save a copy of the CPE certificate
• Your CPE credit will be automatically recorded in your
transcript.
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Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Inside Talk Webinar Series © 2014 Institute of Management Accountants. All rights reserved.
Notification of Future Webinar Schedules
Next Webinar:
• The CMA Exam: Test Taking Tips & Strategies
Tuesday, April 29, 2014 1 p.m. Eastern Daylight Time
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Remember to check IMA’s Learning Spotlight for upcoming webinar events
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Thank You to Our Sponsor!
www.Prophix.com