Presentation on theme: "Introduction to ORYX. Agility without Control Unacceptable rate of error (88%*) Highly manual, with … … limited automation potential Lack of audit."— Presentation transcript:
Introduction to ORYX
Agility without Control Unacceptable rate of error (88%*) Highly manual, with … … limited automation potential Lack of audit trail and evidence of process Tough to implement effective governance Undocumented processes Spreadsheet OLAP difficult and unpredictable Accounting by Spreadsheets presents the following challenges to Finance: XLS These factors make spreadsheets expensive * Study by Panko (2008)
Control without Agility Do not enable data processing on demand Limited ad-hoc functionality Drill-to-source capability can be limited Requires high up-front investment in software Technically proficient staff are hard to retain Long implementation and change control cycles Working with Dashboard or Reporting Solutions presents some different challenges: The high technical barriers lead to a shortage of suitably skilled people in the market. Realised benefits fall short of expectations often because of a sluggish response to business change.
Control or Agility? Spreadsheets High cost Low cost Agility Control Dashboards OLAP Tools
20 % of time 80% of time 80% of time - Crunching data 20% of time Add More Value Before ORYX..With ORYX AUTOMATED 80 % of time 80% of time – Adding value Analyse and Add value
End-to-End Automation Spreadsheets and Dashboards primarily focus on Presentation (Analysis and Reporting) NOT DATA PROCESSING Process Automation requires both Data Processing And Presentation
Introducing ORYX for Finance Processing Reporting Analysis Reconciliations Consolidations Planning Workflow Journals ORYX is a desktop solution that significantly reduces number-crunching, provides control and retains agility by automating: … improve performance whilst still retaining ad-hoc capability
ORYX Principles Golden Source Build once use many Governance & Control Standardisation and Consistency Automation Integration User Empowerment Leverage Existing Infrastructure Single Environment ORYX is built on the following principles:
How ORYX Works ORYX automates complex processes end-to-end with a single click: -Report -Allocate -Analyse -Reconcile -Consolidate -Plan -Report -Allocate -Analyse -Reconcile -Consolidate -Plan
Acquire Obtain and process data from multiple databases Only extract required data (Performance) Used existing sources (No redundancy, inconsistency, duplication) Use existing mappings and reference data Data also obtained from text (CSV etc), spreadsheet, XML, etc
Validate Allows data from multiple sources to be combined in a controlled way Tests easily added to existing processes to prevent new errors ORYX processes become more robust over time, not less Validation embedded into processes (eg. data mapping tests) Test applied irrespective of who runs the process
Process Processes normally automated without scripting Full parameterisation using filters User feedback in real time Full process logging:
Rules-Based Processing Sequential rules-based processing Full process visibility Greater process agility Process configuration changes quickly prototyped and deployed Change rules /process without costly rebuild Full rule validation before processing starts
Analyse Data Drill to transaction Query data at any level of detail Full Audit trail
Dimensional Analysis ORYX OLAP functionality provides intuitive analysis, slice-and-dice, KPIs, all with rapid drill-to-source.
Present and Report Turn existing analysis views into a distributable report with a few clicks Reports can be rapidly adapted to changing business requirements ORYX reports balance to the original analysis, reducing issues arising from having “multiple versions of the truth” and improving query resolution time
ORYX Forms and Scripting Familiar form design framework (based on.NET) Developer optimisations Scripting available where custom actions / logic required Full intellisense / inline help provided
“ORYX has cut the process time from 4 hours to a few minutes during the month end” “ORYX has saved 90% time with expense report automation: 4.5 working days saved” “With ORYX systems reconciliation has reduced from 2 hours to 5 minutes - 95% time-saving” ORYX Community ORYX has been implemented in various large multi-national organisations with users located globally: UK, Europe, USA, Australia, Hong Kong, Singapore and others.
ORYX reduces 40-hour possesses to minutes. In fact, a single ORYX development has saved an investment bank approximately £650,000 per year. ORYX Benefits Performance Delivery Agility Lower Risk Reduced Costs