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We will now move to the demo portion of the webinar, please allow me to hand things over to Charlie Liu, solution specialist, Charlie will now take us to this next step session, over to you Charlie. 

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Thank you Aileen. For today session I'm going to go through how CCH Tagetik can help you with the Budgeting & Planning process.

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The system has best practices, we have it boiled down to basically 4 steps, the 1st one is the Top Down Planning where you're going to insert your reference data or drivers to help you quickly create a baseline for your 2018 budget,

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and then for the 2nd step, once we're done with the top down of course, we are going to actually have to build your budget from your bottoms up to your base process, as well as this is where we combine number of CCH Tagetik functionalities,

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such as spreading, comments, line item details, global variables, goal seek, check expression, etc... 

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and here is where we also combine with certain detailed calculation models, such as the HR expenses for a HR model, depreciation for the capital expenditure or even the allocation of the OH costs.

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Now that we're done with our 1 Year budget, our recommendation is to take that 1 Year budget and leverage it and utilize it to create a 3 years or 5 years strategical plan using a driver based model as well, to have the 'help you' guide for your business.

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Now lastly, when you're done with the budgeting piece for any process right, even for budgeting and loss, especially reports, audit and analyse the data that you have.

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For today's session I'm going to primarily focus in the top down piece, the long range plan and a little bit of the reporting capabilities with CCH Tagetik. So, first of all, in CCH Tagetik there's 2 ways you can interact with the software

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the first one is through your web browser so I'm using Chrome on my laptop, where it could be Firefox, Internet Explorer or your Android, 

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iPad, or iPhone, anything that have a connection to the web, you can access CCH Tagetik as well, it's very convenient. The second way you can interact with CCH Tagetik is through the Microsoft integration of Excel, PowerPoint and Word.

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Now we are on Microsoft and all these functionalities which you see right here, they are all still available for you, it's still a 100% Excel 

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but at the same time you also have the CCH Tagetik signature right here so you can access your latest report forms as well as your data. 

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So, for today we are going to primarily focus on the web platform. The one we are looking at here, this is the homepage and so far all I have done is logged in as a CCH Tagetik North American user,

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and the idea here is a very intuitive drag-and-drop customizable homepage. Let's see the tiles that you can customize it however you want,

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so you have your processes and data entry form reports right at your fingertips, we don't want our users to search through a sea of clicks to find what they need.

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Now, as a manager I'm in charge of the budget process, to get started simply double click on the planning process cockpit. And this is a very powerful tool that's going to help you

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manage a decentralized process, so if you have different users with different possibilities, users in different locations, let's say in Japan, you don't have to call them to tell them what they have to do

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and give them the files they have to work with , the idea is to have all that managed right here. Now the last thing, this is where we breakdown your processes in the smaller subprocesses 

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that users can manage. In our case we have 4 starting with revenue and COGs, and then we're finishing with balance sheet and cash flow. 

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On the right side, this is where we breakdown the responsibilities, in our case we are breaking them by entity's or locations but for you it could be cost centers revenue, however you plan your process

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we can tailor to that as well. In terms of the end users the actual budget owners, we can take a look at the revenue and COGs side

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and here I'm seeing all the different chains because I'm logging as the manager, we're going to have different workflows for different users as well, but if I log in as a New York user

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this is all I see, just a workflow for myself. Now the idea here is clearly that you don't have to do any guesswork, I don't have to figure out by emailing my manager to figure out what I have to do.

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In terms of type of view, I basically have a to do list, my files directly available for me, responsible users and then the due dates.

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So as I work through the process to be pushed in notifications to let me know what I have to work on next.

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Now in terms of defining process, again the best practice we would like to recommend, is start from the top down pre-seeding exercise where the central Finance team can utilize drivers, reference data

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which are controlled on the left side of this form to help us plan our 2018 budget. And on the right side we have the income statement, P&L statement as well as the fewer years reference data such as last years actuals, last years budget

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and our 2018 budget which we're started from a blank slate. Now like any budget process, I'm going to start with the last years actuals rate and then utilizing the annual run rate 

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to help us to calculate our base plan for our 2018 budget. And then when we have a baseline for 2018 created, the graphs automatically update in real time and now we can start managing our exceptions. 

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Let say you're talking with the sales team, and you think that the software sales might actually be closer to the second quarter of the last year, not a problem, I can change this on the fly.

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And I'm talking to my analysts and businesses owners and they're seeing that the expense might actually be closer to the last year, not a problem, right here users can select on the 2017 budget.

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And now that I have my exceptions managed, I haven't made this update my 2018 baseline, I can actually push these data down. The key thing here is we're calculating in a very high detail level,

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this is across all the cost centers and the thing is once I save this right here, what's going to happen is we're going to push these data down into each individual GL account, into each individual cost centers 

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for our revenue lines we can push his into each product line and customer basis and employee I'm going to push the HR expenses into each first in last in basis. So that the end users to the budget owners, they're now starting from a blank slate. 

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They're going to have some guidelines and baselines. So, very powerful! In terms of going back to a process, we can take a quick overview of the Zero Based Bottoms Up approaches as well. In terms of revenue we can definitely plan our sales...

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...sales revenue plan as well here depending on different industry models, in terms of payroll we have a HR model, this way you can actually do a very detailed HR planning in terms of expenses such as taxes, 

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salary, activity for each first in last in basis employee, so very detailed. HR's such a large expense we would recommend either calculate it as detailed as possible. 

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On the expense side you can do zero based planning such as Opex, we do have a very detailed calculation engine or calculation model for your capex or overhead allocations,

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we run project management as well. And the last thing as an example we also have our balance sheet and cash flow as well and we do have a stand out of the box cash flow model 

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that help you plan your working capital as well as a finance model here available for us as well. So now let's see what happens once you've done our actual budget. 

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Again, our recommendation is to take that and leverage that to create a long terms strategical plan. Take a look at this form, it's fairly driver-based and the idea here is 

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typically to tailor table for the executive folks, and we want to utilize the use of global assumptions that we have for this macroeconomics sales GEO split, 

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you can mix and match different strategy and different assumptions such as the expense side and see what it looks like if I go to a baseline for this. 

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We are utilizing these drivers from a model across 3 years/5 years, as long as you want, would you actually have a customer from France ... They're actually forecasting 40/50 years out for their budget.

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Now, taking a look at this, how does the software actually knows what sales macroeconomics assumptions are. Well, they've all been managed in the second half of this form. 

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As you can see all the assumptions have been broken into sub-assumptions for macroeconomic's such as inflation on the baseline is 5% I can use it bumping it up to 6% and then there's interest, unemployment, etc...

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Now, if you are talking to sales team or executive's team and you think for your next year revenue we want to focus on the direct channel. So let's boost the local sales up to 48%. 

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You can start adjusting all these figures we can go back to the drawing board, right to those 2 control drivers on top and help the management, again, utilizing these assumptions 

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to the strategy that we just calculated and take a look at what the business looks like overall utilizing the what-if scenario strategies that we just input on the bottom.

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Of course we're going to take these drivers, take these inputs and then calculate a very high level income statement across multiple years.

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Again, just like what we talked about, once we've pushed these data down and pushing this to the lowest level, so on a high level, we still have a detailed output to guide your business. 

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So, now that we've had a quick overview in terms of the planning piece, with CCH Tagetik we also have a number of reporting capabilities as well and again that's the last stretch of any process, 

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you have to take that budget data and bring it to the report so that the management team can start observing it. Here as an example is one of our reporting capability, just the standard report 

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... in my report ... and what any standard report using any finance office that has an income statement, balance sheet and cash flow, on top of all those we also have the KPI's summary in the first tab,

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and the idea is to help you quickly get a pulse of your business. Here you can get an idea of my earning before interests and taxes from high-level KPIs financial and ratios

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and then the open expenses broken up as well as my overall HR as well. Any graph that we have in CCH Tagetik where there's a dashboard of standard reports always interactive. 

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So if you ever wanted to compare employee expenses with my variable vs fixed costs I can hit on right here. Now, the income statement and P&L side. 

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We have a standard report on the left side and then we have some additional graphics on the right side that help us visualize our business.

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But it's also always interactive, right here I'm comparing total revenue vs total cost of goods sold, I can adjust easily toggled to the software revenue and then have that comparing to the software cost of goods sold 

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and now I compare them to visualize the margins for this product line. Now, we take a look at the left side, this is a very standard report ... with CCH Tagetik we always have 

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a number of additional analytical tools that can help you dive in and analyze the data, I can drag and drill down on the data sets, so taking the example

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of the employees benefits right here, I can directly drill down and see the breakdown by the GL level directly on the report.

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Well, this could be on any other dimensionality as work, entities costs ... to help you drill down and breakdown your data, so now you can see the actual breakdown for the employees expenses. 

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On top of this we can also analyze 'Anywhere', so you can separate dimensionality, I can analyze across all of the report, I can even analyze directly one cell.

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Now through the balance sheet, again the standard report that we have right here, but if I want to start drilling down on actuals, take a look at the actual drill through,

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take a look at the transactions, I can easily analyze, drill through and see the actual transactions directly on this report and not have to go back to my year period GL system, 

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it's all directly available for me on this report. And with CCH Tagetik we have a number of data connection tools that can help you pretty much import data from any source out there.

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and then lastly we have a cash flow which is built out of standard cash flow model that we have, so you don't have to use any calculations, 

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any coding, script to help you plan this out. So that basically concludes my session today in terms of some of the recommendations that we have for how we can utilize CCH Tagetik 

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help you with budgeting and planning. Charlie, thank you very much for that demonstration. Now for everyone listening I realized that there's so much Charlie couldn't have shown today, 

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but we did have short time, so if there's anyone watching would like to see expanded demo, we do offer a live demo webinars 

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and I encourage you to visit the event section of our website for upcoming dates and time.