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A Finance Transformation using Oracle’s EPM & BI suite. Enterprise Performance Management (EPM) & Business Intelligence (BI) seminar 2016 Marc Mc Glade, Head of Business Partnering & Projects. 24 th November 2016. Our Journey. Background Solution and Implementation Point of Arrival.
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A Finance Transformation using Oracle’s EPM & BI suite Enterprise Performance Management (EPM) & Business Intelligence (BI) seminar 2016 Marc Mc Glade, Head of Business Partnering & Projects 24th November 2016
Our Journey • Background • Solution and Implementation • Point of Arrival
1. Background: 200 Years in existence This year PTSB celebrates 200 years in business, through a variety of entities. From separate life insurance companies and regional banks, to a standalone, competitive entity today… 1816:Irish Savings Bank is founded in Waterford, followed by banks in Cork, Dublin, Limerick and Monaghan 1939:Irish Life is created through the merger of nine British and Irish insurance companies 1977 & 86:Bank Mergers (Dublin-Waterford; Cork-Limerick) 1992:The completion of the amalgamation of Irish Savings Banks forms the state-controlled TSB Bank 1999:Irish Life and Irish Permanent agree to merge, creating Irish Life & Permanent Plc (ILP) 2011:State Bail out of IL&P Group for €4.2bn 2013:IL & PTSB physical separa-tion 2015YE:Returned to Pre-Exceptional Profit-ability 1884:The Irish Permanent Building Society is founded in Dublin 1947:The Irish government gains 90 percent control of Irish Life 1991:Irish Life is privatized and listed on the Irish and London exchanges 1994:Irish Permanent converts to public company status and lists on the Irish stock exchange 2000:ILP acquires TSB Bank, creating permanent TSB as a banking subsidiary of ILP 2012:New CEO and ExCo Appointed. Gained Troika mandate to review business model feasibility and execute change 2016: RP commitment to deleverage €6bn completed 2015:RP Approved and re-IPO of PTSB for €0.5bn (23%) 2012:IL Sale to Great-West Co (€1.9bn)
1. Background: Who We Are • We are a mainstream, full-service, retail bank, operating solely in the Republic of Ireland • We service the banking needs of Personal Retail and Small Business Customers, through a multi-channel and multi-product approach • We develop deeper banking relationships with our Customers, by understanding their needs and delivering what matters to them • When we do this, our Customers: • Stay with us for the long term • Choose us to serve more of their banking needs • Recommend us to family and friends
1. Background: Point of Departure • Our data was on disparate systems in isolation • Inadequate visibility into your company’s operations, finances, pipeline and sales • Access to data was manual and ad hoc with long lead times resulting in inconsistent and contradictory messages • Resulted in the business struggling to get an accurate view of performance and opportunities • Faced increased demands from business and finance users and regulators • Forecasting based upon excel spreadsheets • Effort and time spent on validating data integrity for every output • Resulting reports were STATIC – limited to specific periods, with no drill-down capability • Numerous siloed extracts of the ‘picture’ across teams
2. Solution and Implementation: Choosing the right Partner • Proven track record and partnerships with technology vendors • Industry experience and scars • Ability to deliver • Partner mentality • Creative problem solving skills • Flexibility • Future support capability
3. Point of Arrival: New System and Benefits • A “single source” IDL for maintaining integrity and consistency of data • Automated Data assembly and validation • Creation and maintenance of a historical view of data for the organisation • Drill down functionality to customer, account and transaction detail • Automated report production and new Dashboard reports • Support “self serve” online interactive reports (with drilldown) • Integrated actuals and forecast data cubes for budgeting and reporting • Integrated business rules for metrics and analysis • Flexibility of data integration and reuse • Introduce capability to achieve consistent reconciliation of data from Source System to Reporting System
3. Point of Arrival: Lessons Learnt and Tips • Have a plan scope, timeline and budget then double it! • Accept that you will run into issues (and then run into more issues). It’s an agile process ( encounter, investigate, resolve, amend and test). • Spend time ensuring understanding and alignment of the “vision” across key stakeholders (Business, Finance, Project and IT) • Balance short term tactical delivery against longer term strategic direction (re-assess periodically) • Know your data – be clear on what you are using; data dictionary, different data for different purposes • Different systems may require different approaches • Existing versus all data trade-off • Work on a phased basis and prove the concepts rather than a “big bang” approach • Reconcile the new system against the old – be ready for surprises! • Consider data history required and how to manage on an on-going basis
3. Point of Arrival: Future Developments Needs change, we must keep adapting to evolving business requirements…