Post on 03-May-2018
JPK
Gro
upBusiness Forecasting and Analytics Forum
September 19-20 • Chicago, IL
Finance in the Cloud
September 20, 1:15pm
View presentation online at:https://jpkgroupsummits.com/attendee5
Andy McBride – Opportunity International
Erika Rodriguez – Opportunity International
An innovative, case study on the process and hurdlesof transitioning to collaborative, cloud based spreadsheets
and financial reports
AGENDA
• Introductions
• Opportunity International
• Cloud Based Financial Management Tools
• Benefits
• Examples
• Implementation Challenges
• Other Potential Uses
• Q&A
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Andy McBride
Career
• VP Financial Planning – Opportunity International
• Follett (College Bookstores)
• Northwest & Mesaba Airlines
• KPMG Peat Marwick
Education
• Miami University - Economics
• Case Western Reserve U. – MBA, Finance
Claim to Fame
• Started FP&A departments at three organizations
• 3 teenage daughters
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Erika Rodriguez
Career
• Director Financial Planning – Opportunity International
• Archdiocese of Chicago
• JPMorgan Chase
Education
• Northwestern University, Kellogg School of Management – MBA
• National Louis University
Claim to Fame
• Talented cook. Make the best lasagna!
• Avid runner and cyclist; Professional drummer
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FINANCIAL SERVICES
Developing and protecting a sustainable income
SAVINGSLOANS INSURANCE
Growing and improving
businesses with capital
Securing moneyfor the future
Protecting againstdisaster
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DIGITAL
BANKING
Managing accounts
online and via cell phones
TRAINING AND SUPPORT SERVICES
Maximizing the impact of financial services
MARKET
CONNECTIONSPARTNERSHIPS
Streamlining networks to
increase profits
Supporting
community-
led initiatives
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FINANCIAL
LITERACY
Deepening money
management skills
PERSONAL
DEVELOPMENT
Focusing on
social and
spiritual
evolution
WHERE WE SERVE
24 COUNTRIES 23,000 LOCAL EMPLOYEES MORE THAN 14M CLIENTS
Bangladesh*
China
Colombia
Dominican Republic
Democratic Republic
of the Congo
Ghana
Honduras
India
Indonesia
Kenya
Macedonia
Malawi
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*MicroEnsure Insurance only
Mozambique
Nicaragua
Niger*
Nigeria*
Pakistan*
Peru
Philippines
Romania
Rwanda
Serbia
Tanzania
Uganda
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• Calendars, Task tracking
• Repository
• Compile Data• Communications
Email / Chat / Instant
MessagingSpreadsheets
Project Mgmt Software
File Sharing
Cloud-Based Management Tools
What are they? Why are they useful?
• Web-based collaboration and work management tools
• User friendly interfaces (includes spreadsheets, workspaces,
‘cards’)
• Used for tracking project progress, task assignment,
information repository, managing calendars, document sharing,
etc.
• Features include email alerts, version control, integrations with
Microsoft Office, mobile apps, group chat, task management
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Cloud-Based Management Tools
Applications
• Project management
• Reporting (financial, operational, sales, etc)
• Planning / Budgeting / Forecasting
• Goal management
• Annual audit process management
• Internal control and compliance management
• KPIs / dashboards
• IT issue tracking
• Purchasing / capital requisitions
• Vendor/contract management
• Vendor/performance management
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Advantages / Benef i ts
• Collaborative
• Transparency
• Standardization
• Customizable
• Familiar interface
• Integrations (Outlook contacts, Box file share)
• No IT development
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Cloud Based Management Tools
What products are on the market?
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Smartsheet (used at Opportunity)
BaseCamp
Wrike Microsoft Planner
JIRA Copper
ProWorkflow Podio
Asana TeamGantt
Clarizen Mavenlink
Opportunity International Examples
Annual Budget
Background / Issue
• The Annual Budget took 6 months to prepare, rollout, collect,
consolidate, revise, finalize, and upload to G/L. Use of offline
spreadsheets created massively inefficient process for Finance to
administer (version control, security issues, not timely, accuracy
problems, poor collection of commentary, little time to analyze)
Solution
• Created a web-based budget system in 6 weeks using a cloud-
based spreadsheet tool. Budget process reduced to 2 months
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Opportunity International Examples
Annual Budget
Highlights
• Collaboration - Web-based, inputs from around the world. Multiple users can view live sheet simultaneously.
• Handled all formulas we needed (in similar Excel context)
• Instant consolidations
• Easy manipulation of data to create reports
• Single version of the truth
• Audit history of changes
• Security
• 85% of functionality of large ERP financial systems for < $10k
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Opportunity International Examples
Annual Budget
Additional features:
• Embedded comments
• Easy to upload data to/from G/L or reporting system (data connector
feature on Excel). Once connected, refresh data to reflect latest
updates.
• Email updates (send request for updates/ receive notification of
updates/new information)
• Form distribution
• Designed and maintained by Finance staff
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Opportunity International Examples
Project Spending Report
Background / Issue
• No visibility to financial status of major projects, Project Managers
and Accounting utilizing one-off spreadsheets, in different formats, to
report project spending. A full update on portfolio of projects took
weeks and was already outdated when presented.
Solution
• Created an online spreadsheet to track available funding and
spending on all projects.
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Opportunity International Examples
Project Spending Report
Highlights
• Collaboration - Web-based, inputs from around the world. Multiple
users can view live sheet simultaneously.
• Handled all formulas we needed (in similar Excel context)
• Single version of the truth
• Audit history of changes
• Secure
• Updated each month during month-end close
• Huge efficiency gains
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Implementation Chal lenges
Issues to Overcome
• Buy-in from stakeholders
• Training needed, online tutorials
• Approach each solution with open mind, agility / creativity
• Need to do the same testing you would do with a typical system
rollout
• Security admin and access
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Opportunity International Examples
Other Opportunities for Use
Uses for these products is almost unlimited
• Help desk / issue resolution
• Event management
• HR: Employee onboarding
• HR: Employee hiring
• Vendor selection process
• Legal: contract repository
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