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How to know when you’ve outgrown your financial close process

Man with board displaying period end is nigh and ORYX Close saving hours on a month end process

RPA or Process Automation?

Man surrounded by bots - what's best for finance - RPA or Process Automation?

See the Bigger Picture with Unified Planning

A person searching to see the bigger picture with unified planning

Do BI Systems Really Support the Modern Finance Department?

People consolidating a jigsaw puzzle to represent a single view of a business

A Business Rules approach or persist with Spreadsheets

A man at the driving wheel of a car showing how ORYX puts you in the driving seat

Counting on data – putting finance departments in control

People talking in numerical symbols illustrating how Accountagility staff understand finance

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    Drill to Source

    Understand what makes up your final figures:

    Drill to any level, all the way to source if required, and be confident you’re working with accurate
    information and producing the correct figures

    Get information such as rule number to enable detailed logic tracking and investigation

    Cube Views and Data Browsers

    Navigate and inspect data in a hierarchical structured way:

    Profitability by defined dimensions
    Drill down to transactions and filter to the information you need in a user-friendly way
    Export results to excel for sharing purposes
    Build data browsers with easy to manage views of the figures you want to see

     

    Data Dimensions, Mapping and Validations

    Replicate your exact business structure, logic and organisational hierarchy:

    Make modifications easily in a controlled environment
    Unlimited mappings and hierarchies with many to one easily configured
    Multiple data models for different reporting or business logic requirements
    Validate, transform and tolerate your source data to ensure accuracy and catch inconsistencies
    before they are submitted

    Scenario Modelling and Plan Comparison

    Rapid scenario modelling to create and manage complex data models and processes configured in the computation engine and dynamic input cubes:

    What If planning (supporting workforce planning, sales assumptions and drivers)
    Long-range strategic planning, scenario analysis, initiative planning where updates can be seen in
    real-time
    Support your Strategy Planning:

    Long-range strategic planning, scenario analysis, initiative planning where updates can be seen in
    real-time
    Long-range debt and cash management, including data from multiple funding sources, prioritisation,
    and the impact of funding structures on valuation and share price

     

    Enable Plan Comparisons:

    Produce multiple scenarios of your plan with easily maintained version control. You can compare
    different versions of your plan or modelling reflecting changes to your business
    Variance analysis of unlimited scenarios with any view of the data you require

    Variance Analysis

    ORYX enables detailed quantitative investigation to determine the difference between actual and planned/prior results:

    Budget or Forecasted analysis (based on the timeframe you want, for example the prior year, or
    prior month)

    Dynamic Cube Input

    Cross departmental data input, especially useful for more accurate and timely forecasting across the business:

    See actuals from different departments for efficient forecasting
    Formulaic cells for automatic calculation or reconciliation checks
    Manage Late Adjustments (including period 13)
    Non-financial data (Workforce Planning)

    Accounting Treatments

    Financial Instrument computation:

    Loan interest calculation, FV revaluation, Hedging calculations, Treasury Management, etc…

     

    IFRS Computations and reporting:

    Adjustments for new standards or multiple data models for different reporting requirements

    Equity Calculations:

    Participating Interests, EPS and Minority Interests Calculations

     

    Capex Planning:

    Plan assets through the complete lifecycle, add additional asset types, depreciation schedules, salvage
    values or useful life information required for capital asset planning
    FA Register Reconciliation

    Logic Tracing and Walkthroughs

    Create process walkthroughs and logic tracing:

    Rule links and process flows to enable thorough investigation, especially for audit purposes

    Audit Logging

    Changes tracked for audit purposes fully supported by user permissions:

    User permissions for specific tasks, with access to confidential data separated by components
    Ability to revert back to previous state with ease
    Supports full audit trail with all changes to the system fully tracked including information such as user,
    time and description

    Allocation & Recoveries

    ORYX enables Central Costs and Expenses to be allocated to business units based on FTE or revenue:

    Proportioned, Waterfall, Matrix or Bespoke allocations that accommodate Costs Split using different
    drivers
    Manage Revenue & Commission splits and computation
    Supports cost recoveries using utilisation models (e.g. consumption based costing)

    Consolidation & Eliminations

    ORYX provides Consolidated Balance Sheets and Income Statements for complex international groups:

    Create Multi-dimensional financial reporting with slice and dice capability and automatic reconciliation
    of accounts
    Automatic Local Tax Calculations and Reporting
    Produce Statements of Changes in Fixed Assets and in Equity and Net Debt Computations
    Segment Consolidation

     

    ORYX supports multi-currencies at a transactional and regional level:

    Apply FX (translation) computations automatically
    Convert at multiple different currency rates, and run what-if analysis around the impact of changing
    rates

     

    ORYX maintains adjustments for legislative regions (GAAP vs IFRS) and industries (Stat vs GAAP):

    Version-specific calculations

     

    Elimination of intercompany transactions, dividends, revenues and expenses:

    Use prebuilt analysis cubes to reconcile and report results to separate entities

    Forecasting

    ORYX has powerful Predictive Planning Capability:

    Provide the ability for predictive planning capabilities that can generate reliable statistical predictions
    based on time series data over long periods of history
    Provide the ability to perform simple and multi-variable linear regression and constraint optimisation
    for predictive planning

     

    ORYX has computational engine allows you to build complex and bespoke forecasting models:

    Provide rolling forecasting and rapid scenario management
    Run deferrals – you can defer income to enable expected forecasted revenue and deferred tax loss
    computations
    Adjust for seasonality – show a spread of transactions to make forecasts and predictions more
    accurate. You can configure multiple seasonality models for all of your requirements
    Produce cash flow forecasting, daily cash management and ‘what if’ analysis
    Build complex revenue and expense triangles (AUM, DAC, Loss Triangles)

    Reconciliations

    With ORYX you can reconcile your Systems:

    ERP to ERP reconciliations with automatic manual adjustment and prior unreconciled items brought
    forward

     

    Manage monthly balance sheet accounts:

    Automatic balance sheet account checks and drill down to investigate materiality

     

    ORYX enables account to control account activity:

    Automatic reconciliation between nominal balances and checks

    Workflow Management

    ORYX sets up your financial processes in a controlled and tracked workflow process:

    Following full permissions and security protocols
    Cross department collaboration of data inputs and efficient business partnering on financial processes
    4 eye check review and sign off
    Deadlines and submission status to manage process completion
    Schedule processes to be completed whenever convenient without human interaction

    Revenue Recognition

    ORYX has provides custom built business logic to support complex logic, rules and data models:

    Build multiple models for different requirements and recognition criteria

    Drill downs and walkthroughs to track accounting and investigate

    Roll – Forwards

    ORYX supports setting up of financial plans with period schemes:
    Configure the solution to deal with different approaches for time dimensionality (i.e. single
    dimension, multiple dimensions) and multiple calendar types (e.g. 4-4-5)

    Apply Period end and roll-forward requirements in line with your business’ logic:
    Periodic roll-forward as each months actuals come in
    Creation of new Financial Year starting positions for accounts
    Apply roll-forwards to summarised end-of-year position
    Customised periods for year-end adjustments (Period 13)

    Dashboards

    ORYX presents each user with a personalised Dashboard, so they can access all their important information from one place:

    KPI’s via desktop and mobile
    Drill down on visuals and reports to any level of underlying data
    Prioritise workload and key tasks

    Reporting & Other Outputs

    ORYX supports Regulatory Reporting

    Multi-GAAP Reports
    (BCAR) Best Capital Adequacy Rating Reports
    Collateral reporting
    SEC Comparisons with SEC rollup and comparison reports

    ORYX provides Data visualisation tools

    Board Reporting and PowerPoint export
    Seamless link to Power BI

    ORYX outputs your trusted data, formatted in a way you are familiar with
    Select from many industry formats such as Microsoft Excel, PowerPoint and PDF
    Supports automatic journal production & posting
    Email Notification