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