Financial Closing Cockpit

Financial Excellence/CFO/Closing May 2011

Fast closing optimization at LeasePlan How EoZen helped boosting the closing cycle
Financial Excellence/CFO/Closing

LeasePlan
Company
Proactive service excellence partner in fleet and vehicle management LP present in 30 countries and 1.294.000 cars managed fleet 240 employees in Belgium 50.000 running car fleet in Belgium

SAP user since 1998

Only FI/CO modules +/- 100 users Core business on self developed systems (iSeries)

Financial accounting Closing cycle

Financial report to parent company on the 6th working day
3,5 days FI/CO postings 1,5 days controlling and closing meetings

2011 SAP AG. All rights reserved.

Internal

Leaseplan closing requirements and questions

We would like a status overview (real time) of the closing process. How can we be sure of the completeness of our closing execution? The knowledge of the closing process is stored in a few peoples heads, not documented as it should be. How can we communicate an issue log throughout our department? We want to estimate the time to delivery of our statements and reports. We would like to reduce audit costs and store proof of execution in our SAP system. Can we absorb some of the stress that is involved in the closing process?

2011 SAP AG. All rights reserved.

Internal

Financial Closing You might face problems to get to:

Transparency

Efficiency

Human Impact

Compliancy

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Internal

The FCc Project (1)

1. Analysis Phase Collaboration Leaseplan-EoZen from the start, key to success Identify Bottlenecks and chart a critical path for closing Capture the process in BPM tool

All processes are charted before we come to the set up in SAP

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Internal

The FCc Project (2)

2. Implementation Phase Creation of Hierarchical structure Configure individual tasks in the closing template(s)
Determine interdependencies, critical path, responsible,

3. Go-Live From the created closing template create an executable task lists based on the closing template, ensure everyone is on board after training

The project started Mid-January and February was closed in the FCc

2011 SAP AG. All rights reserved.

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Financial Closing Cockpit: Result

Excel sheets

Integrated SAP Cockpit solution

2011 SAP AG. All rights reserved.

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SAP Financial Closing cockpit: Integration

Integration in SAP landscape

Integration in YOUR IT landscape SAP Central Process Scheduler by Redwood Launch & monitor jobs in SAP and in peripheral systems with direct integration in FCc

2011 SAP AG. All rights reserved.

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Financial Closing Cockpit Continuous improvement

The first step is to create templates. Templates contain all tasks relating to the local close and a default schedule. This template can be changed into an executable task list.

The task list can be accessed by the right stakeholders, either via SAP GUI or Web UI application.

Plan

Execute

Analyze
The actual duration of the tasks in a single close can be compared with the planned duration and the insight gained used to improve the template for the next close round.
2011 SAP AG. All rights reserved.

Monitor

The status and progress of the local close can be monitored in a cockpit interface.
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SAP Financial Closing Cockpit (Benefits)

2011 SAP AG. All rights reserved.

Internal

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SAP Financial Closing Cockpit (Benefits) (1)

Transparency:
We would like a status overview (real time) of the closing process.
The FCc is the central place to execute & monitor your process. Tasks are automatically delegated to the right persons. The status management of these tasks is real-time and automated in the FCC.

How can we be sure of the completeness of our closing execution?

The FCc provides a comprehensive overview of the closing process, with trace of execution by the responsible people.

The knowledge of the closing process is stored in a few peoples heads, not documented as it should be.
Within the closing template, tasks are documented centrally and assigned to the correct people, new people can step in and find their assignments in the cockpit.

2011 SAP AG. All rights reserved.

Internal

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SAP Financial Closing Cockpit (Benefits) (2)

Efficiency:
How can we communicate an issue log throughout our department?
All executed tasks and batch jobs carry a log of execution, moreover documents with remarks can be attached at each step.

We want to estimate the time to delivery of our statements and reports.

You can easily monitor during execution what tasks are late and use this to benchmark & analyze the different closing cycles.

2011 SAP AG. All rights reserved.

Internal

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SAP Financial Closing Cockpit (Benefits) (3)

Compliance:
We would like to reduce audit costs and store proof of execution in our SAP system.
The FCC offers the full audit trail of the closing process in SAP. Time of execution and responsible for execution are stored, together with the log of the task. This is beneficial for both external and internal audit.

2011 SAP AG. All rights reserved.

Internal

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SAP Financial Closing Cockpit (Benefits) (4)

Human impact:
Can we absorb some of the stress that is involved in the closing process?
It is our aim to offer realistic timing and deadlines, thanks to the accessible cockpit overview people can plan their schedules more easily.

2011 SAP AG. All rights reserved.

Internal

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Thank You!
Contact information: Mischa Broeckaert Solution owner: Financial Closing cockpit Mischa.broeckaert@eozen.com +32 (0)474.800.197 Ben Hendrickx Controller LeasePlan Bhendrickx@leaseplan.be