Leveraging Financial Planning for Operational Analytics
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The document summarizes a presentation by Scott Stevenson and Mike Jelen of eCapital Advisors on leveraging financial planning for operational analytics. eCapital Advisors is a consulting firm that provides business analytics and performance management consulting. They discussed how financial planning can be improved by making it more efficient, analytic-driven, and flexible. A case study of Children's Hospitals and Clinics of Minnesota was presented, where they implemented Hyperion Planning and Oracle BI to improve their disjointed and manual planning processes. This provided interactive dashboards and reporting for budgeting, labor analytics, and capital project analysis.
Leveraging Financial Planning for Operational Analytics
- 1. WELCOME —TO THE— LORAS COLLEGE BUSINESS ANALYTICS SYMPOSIUM
- 2. Leveraging Financial Planning for Operational Analytics Scott Stevenson, VP of Business Development Mike Jelen, Oracle BI Practice Lead March 25, 2015
- 3. • Founded in 2001 – Headquartered in Minneapolis • Performance Management & Business Analytics consulting firm • Over 250 customers • Loras Business Analytics Advisory Board • eCapital Advisors employees • Dedicated to Enterprise Performance Management and Business Analytics, enabling clients to make better business decisions • Proven customer satisfaction and experience across a variety of industries • Advisory services, strategic assessments, implementations, upgrades, training, customer enablement and managed services eCapital Advisors Overview
- 4. “If you don't know where you are going, you'll end up someplace else.” ― Yogi Berra “I'm not making any plans. I'm just going to let the universe surprise me.” ― John Cusack “Plans are of little importance, but planning is essential.” ― Winston Churchill Planning
- 5. Operational Planning Strategic Planning Budgeting Forecasting What is Financial Planning?
- 6. Efficient Process • Define appropriate level of detail • Leverage technology to enable efficiency • Evaluate process simplification • Engage the appropriate users • Flexibility to change with the business • Identify ROI drivers
- 7. Analytics and Planning • Creates feedback loop for Planning processes • Delivers actionable business information • Provides a vehicle for organizational information dissemination “People come to work in the morning wanting to make the right decisions; but, they don’t have the information to do so.” ― Children’s Hospitals and Clinics, Sr. Director Clinical Services
- 8. Case Study • One of the largest pediatric health systems in the United States focusing exclusively to children • An independent and not-for-profit system since 1924 • Part of PACT - a group of 26 hospitals that share detailed info with each other in order to build and metrics
- 9. Critical Issue Disjointed and manual planning process with limited and rigid reporting, lack of timely operational information to drive timely decisions. Capabilities Needed Revenue, Labor, CapEx, OpEx and Balance Sheet planning. Graphical and interactive dashboards with drill through reporting. Technology Utilized Hyperion Planning, Oracle Business Intelligence (OBI) Results Children’s Hospitals has deployed: • Hyperion Planning - 75+ users for budgeting, variance and management reporting • OBI to 115 users for Nursing, Labor and Financial dashboards Case Study Children’s Hospitals and Clinics of Minnesota
- 10. Case Study Planning: Volume-Based Revenue • Revenue model suited to industry • First, driver-based with volume and charge per unit • Then, split overall based on assumptions for in-patient versus out-patient
- 11. Case Study BI: Budget and Expense • Able to select from multiple expense types • Option to drill to Department summary or Transaction detail
- 12. Case Study BI: Profit and Loss Analysis • Filter data by time, department hierarchy levels • Option to drill to Department detail and then drill to show expenses and revenue by General Ledger account number • Download data into PowerPoint, Word, Excel, etc.
- 13. Case Study BI: Capital Projects Analysis • Filter by department • Option to drill to Capital project detail • Ability to download data into PowerPoint, Word, Excel, etc.
- 14. Case Study BI: Journal Detail • Transactional analysis • Option to drill to Payroll Detail to analyze who charged overtime • Ability to download data into PowerPoint, Word, Excel, etc.
- 15. • Define appropriate level of detail • Leverage technology to enable efficiency • Evaluate process simplification • Engage the appropriate users • Flexibility to change with the business • Identify ROI drivers • Explore and measure results Summary
- 16. www.ecapitaladvisors.com Questions? Thank You!! Mike Jelen [email protected] 651.338.4422 Oracle BI Practice Lead [email protected] Scott Stevenson VP of Business Development 612.770.8008