Improve timeliness and quality of data provided to Finance
- Automate sub-ledger and source systems feeds and provide data and support for data feed reconciliation
- Data providers master data to their standards and provide to Finance with known and established code values
- Data providers operate data quality rules and remediate data feeds as necessary as part of the data submission process
Create operating model efficiencies and improve effectiveness
- Optimize hierarchies and taxonomies (that define the chart of accounts) to reduce complexity, reconciliations and processing effort
- Simplify and streamline Finance processes (e.g. core Finance operations, Flash PnL, performance management, reporting and GL close)
- Reduce effort to manage and improve quality of data: data mastering, error processing, and reconciliations
Improve financial management
- Optimize legal entities for tax and capital
- Create transparency and greater adjustment control
Create an Extensible Code Block to accelerate changes to Chart of Accounts
- Deliver with the ability for easy Chart of Account change and growth while fully satisfying current state needs
- “As was” and “as is” reporting to facilitate change
Start design on a thin ledger and rich analytics target state
- Identify the minimum thin ledger to support core Finance processes, GL close and disclosure as part of migration work
- Document non-thin ledger entities
- Create a high-level design for a robust high quality analytic data set to support enriched and granular Finance analytics
