How Orthofix Improved Its Financial Close &

Consolidations with Oracle Cloud

Account Reconciliation Cloud Service (ARCS) & Financial Consolidation and Close Cloud Service (FCCS)

Santhosh Nair

General Manager, Oracle EPM

Perficient

Scott Rodney

Hyperion Financial Management Admin

Orthofix

Lon Snook

Vice President, U.S. Accounting and Consolidations

Orthofix

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Agenda

• Introductions

• About Perficient

• Oracle EPM Cloud Landscape

• About Orthofix

• Current State / Challenges

• Project Scope and Timeline

• Outcomes / Success Metrics

• What’s Next / The Future

• Q&A

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About Perficient

Perficient is the leading digital transformation

consulting firm serving Global 2000 and enterprise

customers throughout North America.

With unparalleled information technology, management consulting,

and creative capabilities, Perficient and its Perficient Digital agency

deliver vision, execution, and value with outstanding digital

experience, business optimization, and industry solutions.

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Perficient ProfileFounded in 1997

Public, NASDAQ: PRFT

2015 revenue $473.6 million

Major market locations:Allentown, Atlanta, Ann Arbor, Boston, Charlotte,

Chattanooga, Chicago, Cincinnati, Columbus, Dallas,

Denver, Detroit, Fairfax, Houston, Indianapolis, Lafayette,

Milwaukee, Minneapolis, New York City, Northern California,

Oxford (UK), Southern California, St. Louis, Toronto

Global delivery centers in China and India

3,000+ colleagues

Dedicated solution practices

~95% repeat business rate

Alliance partnerships with major technology vendors

Multiple vendor/industry technology and growth awards

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Perficient’s EPM PracticeFast Facts

• Practice Started: 2002

• Projects Completed: 1000+

• Management Team: 15 years

• Oracle Authorized Education Center

• Hyperion Education

• SupportNet Managed Services

• Support Services

Solutions Expertise

• Cloud readiness assessments

• EPM strategy and health check

• Financial close & consolidations

• Cloud & on-premises solutions

• Reporting & analytics

• Data relationship management

• Account reconciliations

• Profitability & cost management

• Infrastructure & high availability

Oracle Specializations

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CFOs Embrace Moving Financial Apps to the Cloud

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A Complete EPM Cloud Solution

Account Reconciliations

Consolidations

Budgeting &

Forecasting

Integration

Secure Single Vendor Platform

COMPREHENSIVE - The most complete cloud-based Enterprise Performance Management solution available

EASY TO ADOPT – Modular products with Configurable capabilities, leveraging a Common Platform, Flexible Deployment

FIRST-IN-CLASS FUNCTIONALITY –Embedded Best Practices, Tailored Role-based Interfaces, Pre-Built Content, Extensive Leverage of Oracle R&D

Copyright © 2016 Oracle and/or its affiliates. All rights reserved.

COMPREHENSIVE – The most complete

cloud-based enterprise performance

management solution available

EASY TO ADOPT – Modular products with

configurable capabilities, leveraging a

common platform, flexible deployment

FIRST-IN-CLASS FUNCTIONALITY –

Embedded best practices, tailored role-based

interfaces, pre-built content, extensive

leverage of Oracle R&D

Tax Provision

Profitability & Cost Management

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Oracle’s EPM Cloud Leadership

Copyright © 2016 Oracle and/or its affiliates. All rights reserved.

Built on over 15 years of Product Innovation

Clients across industries

Financial Services, Higher Ed, Consumer Goods, Retail, Services, High Tech, Public Sector

1,982Subscriptions to date

104,681End Users andgrowing!

Available and Supported Globally 24 X 7 X 365

First ProductLaunched:February 2014(5 products to date)

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• Cloud-based ‘Software-as-a-Service’ delivery advantages

• No capital infrastructure investments

• Minimal IT resource requirements

• Owned by line of business

• Never have to worry about upgrades

• New features are more frequently available

• Backups are owned by Oracle

Oracle Cloud Service

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• Address the global reconciliation process

• For each process, support the complete

lifecycle including:

• Verifications

• Assignment tracking

• Managing preparation and review

• Minimizing risk

• Process optimization

• Flexible and robust user-owned reporting

• Integrated with transaction systems

• Fully integrated with the EPM Cloud

Oracle Account Reconciliation Cloud Service (ARCS)

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• Close Calendar

• Features custom task

management

• Workflow for enterprise-level

collaboration

• State-of-the-art dashboards

• Intuitive user interface

Financial Consolidation Cloud Service (FCCS) includes Financial Close Manager functionality

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Orthofix

• Founded in Verona, Italy in 1980, Orthofix is a global medical

device company providing innovative solutions to physicians

around the world

• Headquartered in Lewisville, TX, the company has four

strategic business units that include BioStim, Biologics,

Extremity Fixation, and Spine Fixation

• Over 50 countries served and 900 employees

• Corporate provides comprehensive management services,

such as compliance, legal, finance, and human resources

• Global Oracle EBS

• Global Hyperion FDMEE and HFM implementation in 2015

• Live on FCCS/FCM and ARCS February 2017

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Financial Accounting & Analysis Team

• Multiple departments, each with multiple

entities and varying degrees of involvement in

Close and Reconciliation process led to non-

standardized process

• Wanted participants to be accountable for their

activities

• Spent time processing the Close and

reconciling data and not enough time

analyzing it

Growing Business

• Multiple Oracle EBS instances for ERP

• Implemented HFM and FDMEE on

premises in 2015

• Wanted to automate Close and

Reconciliation Process

• Growing need to provide executive office

with greater insight into the Close and

Reconciliation status

Company Background

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Manual Tracking of Financial Close Tasks

• Managed via Excel and email

• Non value-add time spent tracking status

• No direct visibility into bottlenecks

• Participants did not have visibility to their role in the process

Account Reconciliation

• Process and templates were done in Excel

• Balance change updates during close might be missed in Reconciliation

• Non-productive time spent tracking status

• Challenging to ensure all accounts were reconciled

• Repository for reconciliations were in network folders and additional time was required to ensure all were completed

Challenges

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FCCS / ARCS Integration Timeline

Summer 2016

Began to explore solutions for Reconciliations and Close Management

Oct 2016

Built vision and engaged Perficient as partner

Nov 2016

Began ARCS & FCCS/FCM project with Perficient

Dec 2016 Close

Went live with FCCS/FCM,7 weeks after project start

Jan 2017 Close

Went livewith ARCS, 11 weeks after project start

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FCCS and ARCS Scope Areas

Period Close ARCSAccountability and

Management

• Clearly defined tasks for

different close periods

(Month, Quarter,

Year-End)

• Ability to create a specific

PBC task list for external

auditors

• Segregation of tasks by

organizational unit

• Task dependencies

• Centralized tracking

and storage of

Reconciliations and

supporting schedules

• Auto – Reconcile rules

• Data integration

components to load

GL balances

• Workflow for Close and ARCS

approvals with automatic mail

notifications

• Dashboards for task and

Reconciliation status and

bottlenecks

• Out-of-box reports for audit

and reporting purposes

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Project Outcomes

Admin Feedback

User Feedback

Project Success

• Defined start and end for close

and reconciliation process

• Ability to quickly reload all

balances into all reconciliations

• Capacity to check status and

bottlenecks

• Streamlined process for user &

application management due to

web-based nature

• Auto reconciliation feature saves the

user time

• Notifications helpful in identifying

priority tasks

• Data loaded automatically into

reconciliations

• All accounts listed in one place. Won’t

miss any account

• Auditors like the time-saving process

and complete PBC package

• On time and on budget!

• Time savings around

reconciliation preparation

• Facilitates Audit readiness

• Cloud solution reduces

infrastructure footprint, reliance

on IT, and streamlines application

and user maintenance

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What’s Next? EPBCS

Web-enabled planning and

budgeting

Analytics for sales including

geography and seasonality

Analytics for sales part

number and product

Non-financial data metrics

including metrics and

volumes

QuestionsType your question into the chat box

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Next up:

[Webinar] How Oracle Sales Cloud Release 12 Will

Boost Sales Productivity

Wednesday, March 22

[Event] Collaborate – Las Vegas

April 2-6

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