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Introduction
Josh MillsSenior Manager
Direct: [email protected]
Vanessa RamseyFinance Transformation Director
Direct: 416.813.7654 ext. 414031 [email protected]
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Agenda
What is a Business Led Transformation?
How did SickKids go about its Finance Transformation Journey?
What are we Doing & When are we Doing it?
How did we Structure Our Transformation for Success?
Organizational Change Management … Who Needs It?
What Have we Learned … So Far !
Q&A
44
What is a Business Led Transformation?This is more than an implementation for SickKids, it is a ‘Transformation’
Transformation
‘Two in a Box’ Approach
Collaboration Methods To Accelerate Decision Making
Robust Project Management
Experience with PeopleSoft 9.2 Functionality
Policy & Procedure Refresh
Knowledge Transfer
Strong Technical Knowledge
Risk Mitigation Processes
Robust Project Management
Experience with PeopleSoft 9.2 Functionality
Risk MitigationProcesses
Strong Technical Knowledge
Risk Mitigation Processes
Strong Technical Knowledge
Robust Project Management
Upgrade Implementation Business Process
Improvement
Embedded Organizational Change Management
Collaboration Methods To Accelerate Decision Making
Knowledge Transfer
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How did SickKids go about its Finance Transformation Journey?A Brief History of SickKids’ Finance Systems and Processes
Year
Gro
wth
of S
ickK
ids
Investment in SickKids’ Finance Platform
1
2
3
2004: Upgrade to version FSCM 8.8
2009: Upgrade to version FSCM 9.0
Present: Roll-out of
FSCM & HCM 9.2
In the past 12 years, Hospital Operations have grown by 65% and Research grants
have grown by 55%
2002: SickKids Finance implemented 5 modules of PeopleSoft FSCM 8.4
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How did SickKids go about its Finance Transformation Journey?Convergence of HR and Finance
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1. Heavy reliance on excel- Data is retrieved from multiple sources in order to pull a story together
2. Outdated information – Delays in delivering financial results to the business
3. Paperwork black-hole – Paper forms, paper cheques, manual signatures
4. Lack of integration – Finance and HR systems operating in silos
5. Non-value add work – too much time spent on manual processes vs providing insight
6. Antiquated grants systems – many workarounds and manual processes to accommodate
7. Hardware at capacity – slow response times and impacting the ability to expand
8. Reactive vs. proactive – immature forecasting processes
9. “We have always done it this way”- reluctant to change
10. Number crunchers vs. business partners – limited time to spend partnering with the business
How did SickKids go about its Finance Transformation Journey?Key Challenges – Do These Sound Familiar to You?
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How did SickKids go about its Finance Transformation Journey?If you don’t know where you’re going, you may end up somewhere else.
Finance Transformation Lab
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What are we Doing & When are we Doing It?Our scope …
Technical Infrastructure
PeopleSoft 9.2 Finance Platform
PeopleSoft Financials 9.2
General Ledger
Billing & ARCommitment Control
Accounts Payable
Asset Management
Cash Management
Grants Management
Project Costing
Supplier Contract Mgmt.
Travel & Expense
Procurement & eProcure
Contracts Management
Inventory
HR PlatformPeopleSoft HCMS 9.2
Core HR
Health & Safety
Recruitment Solutions
Payroll
Benefits
Commitment Accounting
Compensation
Legend: New module / tool / hardware Existing module / tool
Reporting, Business Intelligence, BudgetingQlikView (BI Reporting Tool) PeopleSoft Reporting ToolsAdaptive (Budgeting Tool)
Hardware Platform
1010
What are we Doing & When are we Doing It?… and our timeline
Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
HCM / FINIntegration
FinanceImplementation
HCM Upgrade
Design
Build
Deliver
HCM Go Live
FIN Go Live
HCM / FIN Integration Go Live
Plan
Conference Room Pilot
PB&F Tool Project PB&F Implementation
Plan
Plan
Deliver
Deliver
Design
Build
Design
Build
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How did we Structure Our Transformation for Success?Forming cross-functional groups to develop the right solution
Business Process OwnersBusiness stream lead responsible for design decisions, testing and training support.
Finance Advisory Committee
Provide direction to the project team and input for Finance related key decisions
FT Steering Committee
Governing body responsible for making
key decisions for the project
Research Advisory Committee
Provide direction to the project team and input for
Research related key decisions
.
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Core Finance & HR
Quality Management
Executive Sponsors
Project Management Research Advisory Committee
Close, Consol, Report
Procure-to-Pay
Order-to-Cash
Grants Mgmt.
HCM Upgrade
Capital Accounting
Steering Committee
Development
Infrastructure
Cash Mgmt HCM / FSCM Integration
Project Costing
Finance Advisory Committee
PB&F
Finance Process
Change Management
How did we Structure Our Transformation for Success?Clear accountability with a focus on integration
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Organizational Change Management … Who Needs It?We embedded key elements of OCM throughout the life of the transformation
Support & Sustainment
Define the Change
Leadership & Stakeholder Engagement
Organizational Change
Management
Learning & Capability
Development
Organization Alignment
Communication
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What Have we Leaned … So Far !Some key learnings while on our journey
Finance Transformation
Co-Location Involve BPOs
Fact Based Decision Making
Address Foundational
Decisions Quickly
Integrated Change Mgmt.
Prepare For Life Events
Solicit & Respond To Feedback
Engaged Project
Sponsors
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Increasing productivity and efficiencies
Automating paperless processes to minimize errors, with appropriate controls that reduce manual, administrative tasks
Simplifying, standardizing Finance and related business processes for SickKids managers and employees; with enhanced self-service capabilities
Improving quality of data and real-time report access to drive better decision making
Enhancing functionality to support numerous strategic initiatives and increasingly complex client and regulatory reporting requirements
Integrating support systems, providing consistency and data-sharing
Modernizing infrastructure and technology that will be easier to support and maintain
Benefits of Finance TransformationAt the end of the day, we are focused on…
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“If you want something new, you have to stop doing something old”
- Peter F. Drucker -
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