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About EFEF Education First was founded in Sweden in 1965 by a young entrepreneur named Bertil Hult. The concept was straightforward: take local high school students to England to learn English. It was a simple business idea—on-site language and cultural studies—but one with an enormous future.
Opening the World through EducationEF Education First is an international education company focusingon language, academics, and cultural experience.
50+Countries with EF operations
40K 500
1EF staff,
educators& Tour Directors
EF schools& offices
Global mission
Olivier M. BonominiHead of Business EngineeringEF GroupBased in Zurich / SwitzerlandPrevious Roles:Financial System Manager, EFFinancial Manager, EF
Martin N. ZehnderVice President Financial Analysis & SystemsEF LanguageBased in Zurich / Switzerland Previous Roles:VP Planning & Strategy APP, EFManager Controlling & Reporting, DHL Switzerland (Logistics)Senior Business Analyst, The Nuance Group Europe (Airport Retail)
Presenters
Challenges
• Time consumption of budgeting process• Number of versions and files• Data storage• Updates and modifications of models and
processes
Organization and Requirements
Flat hierarchy/Growing business=> segregated ownership=> detailed budget structure => complexity
Flexibility <> Standardization <> Maintainability <> Simplicity
TM1 solution:
• Internet platform (one version, flexible structure)
• Fast calculation performance• Completeness/Rules set• Integrated workflow (distribution, email,
reminders, approval)• Security (Very detailed plus window
login)• Consolidation automatically• Historical data flexible, drill through and
down• More flexibility create reports/
comparisons/modifications• Forecast/Scenarios calculations possible• Newest Actual vs. budget comparison
available at any time, no preparation• High integration with the systems level,
data stored in database
Excel model vs TM1Excel template solution:
• Excel files (version, static structure)• Slow calculation performance (large
models)• Completeness/Rules, changes• Workflow management (distribution,
collection, email)• Security not ideal, not flexible• Consolidation manually• Historical data pre-set and limited• Reports/comparisons/modifications
cumbersome to implement (fixed model)
• Forecast/Scenarios limited (amount of data)
• Actual vs. budget comparison on request, preparation time consuming
• Low integration with the systems, data stored in files
Source Complexity
Envisioned Development Direction TM1
Budgeting Process Integration
Business Decission Tool
• Sales• Production• Allocations
• Pricing Processing• Dynamic Analysis • Other Financial
Support Processes
Analysis Opportunity
Efforts
+ =
Implementation / Development• Analysis of the business models and excel
solutions• Conversion /Implementation by module and
division• Interlinking of parallel processes• Enhancement of functionalities • Training with the stake holdersAnalysis /
Modelling
Implementation / Testing
Training / Instructions
Compilation / Feedback
Current model• 800 users in 5 divisions with 20 different
designations
• P/L forecasting• Actuals vs. budget• Workflow with email notifications• Allocations (cross division, cross module)• Pricing (including competitor analysis)• Scenarios analysis (e.g. sales patterns)
Overview
Completeness
Interconnection - Impact
Flexibility
Challenges and successes
• Mirror the business model• Flexibility vs. standardization
• Improved the data quality• Completeness• Shortened compilation time of reporting• Analyses time • New results available for business decisions