SOLUTIONS FOR FINANCE


Accountagility delivers a full suite of compatible solutions for the Finance function. Named ORYX, these are modular by design so you can build, step by step, different components in phases, to the point at which you have the full powerful suite of integrated solutions. Unlike some solution providers, our pricing model is in line with our delivery model. You can build your solutions incrementally, so that there is no large fee for the initial project and you will benefit from lower marginal costs of each subsequent project.

ORYX PLAN – FINANCIAL PLANNING AND FORECASTING

We understand the challenges faced when undertaking Financial Planning; the integration of data from multiple sources and systems, the countless structural challenges, the complex numerical calculations, and the need to complete plans within stringent fixed deadlines.

We know that the success of your planning function largely depends on the speed at which you can create and analyse your plan information, and then adapt your business logic to meet fresh requirements and new initiatives.

In global enterprises, the complexity is multiplied by the differences in regional requirements. You need a system that accommodates local variations within a single global planning strategy.

We also appreciate that to do all of this manually is very time consuming and complex. But what if there was an automated solution that yielded an improvement in performance, without undermining the quality of your plan?

Now there is ORYX Plan. Designed by finance people, for finance people.

ORYX CLOSE – PERIOD END CLOSING

In a busy Finance function, the regular monthly close process is a recurring challenge. Many businesses have developed multiple P&Ls, balance sheets and data sources, with international structures posing a particular set of needs. There never seems to be enough time to meet the immovable deadlines, and such pressures can effect accuracy.

As if that is not enough, emerging regulatory requirements are impacting the closing timetable, with extra time being set aside for creating reports for compliance regimes such as Solvency II.

Finance staff are dedicated to dealing with the heavy workload of manual adjustments. This adds complication to the task of supporting the needs of both internal and external auditors.

Then there are further processes associated with Quarter End, Half Year and Year End, all adding to the demands and the workload.
What can a stretched Finance Department do to resolve this Gordian knot?

Accountagility has the answer. ORYX Close.

ORYX EXPENSES – EXPENDITURE ALLOCATIONS

One of the most time-consuming activities performed in the Finance function involves the processing, categorisation and allocation of expenditure items. In a larger department this is a regular process requiring dedicated staff, and increases in intensity at period end, when it can often absorb additional resource.

The key objective of this process for the business is a fair and correct distribution of expenses for each business unit, so that true costs may be recorded and profitability accurately assessed. It is also important to be able to compare actual expenses with budgeted values, on a monthly and year-to-date basis, in order to spot issues and trends early and to support efficient cost control.

Yet most Finance functions use manual processes for expense allocation, with heavy resource, cost and time implications. It can be a challenge to allocate all expenses in a timely manner, generating backlogs which mount up to make Quarter and Year End activity even more stressful.
Business Unit Managers add their requirements to the issue, as they demand timely and accurate management information, so that they can improve visibility of outgoing costs and meet their challenging targets.

With tighter regulation introduced in 2015 dictating a maximum spend on corporate entertainment per individual/client within financial services, there is new impetus to track and report on expenses. This level of monitoring will place a new burden on the finance department.
There must be a better way to make this intricate area more efficient, and to reduce the resources it consumes.

Accountagility has the answer to all these issues. ORYX Expenses.

ORYX CONSOLIDATION – A SOLUTION FOR GROUP FINANCE FUNCTIONS

The demands on Group Finance teams have changed dramatically in recent times with the pressures of true global businesses, the burgeoning complexity of group structures, the varying needs of different operating units and the ever-increasing regulatory, audit and reporting burdens.

Reporting on currency fluctuations has added a further dimension to the challenge, as have the pressures to increase planning and reporting cycles.

Group Finance plays a crucial role in every corporate or multi-national organisation, but there are precious few solutions aimed at reducing their workload or supporting them in becoming more efficient.

Now that has changed. Welcome to ORYX Consolidation.

ORYX HR – INFORMATION FLOW FOR HR & FINANCE

Finance and HR are brothers in arms; both serve the operational business and strive to advise it intelligently and professionally. Each is vitally important to the other as staff costs are often the single largest cost head in the P&L. But how many businesses have perfected the information flow between them?

A larger business may have thousands of employees and contractors; each with a HR record containing numerous key elements which need to be captured by Finance for both planning and actuals. The amount of manual data entry needed to achieve this can be formidable, and the effort and time required can act as a drag anchor to the regular finance processes.

If the data volumes were not enough, there can be further complexities such as different HR and finance core systems, different rules in different geographies, and multiple currencies too. There can be important benefits subsystems such as bonus or commission calculations and payments, or share schemes or options. Finally, the bugbear of employee expenses has to be stored and analysed, dragging the anchor further from its mooring.

Many businesses have dealt with these disconnected HR elements via the trusty spreadsheet. But that can add inconsistency and exposure into the equation, as well as a security risk to this confidential information.

​Finally there is a way to get your HR data into your plans and actuals, and to analyse and model it, without the delays and frustrations associated with highly manual processes; a solution that holds steadfast the anchor, keeping the vessel in the bay and escaping the storm. ORYX HR.