KPMG - Case Study
KPMG Finance adopts Board for integrated reporting, analysis, planning, budgeting and forecasting.
About KPMG Netherlands
KPMG operates as a global network of independent member firms offering audit, tax and advisory services; working closely with clients, helping them to mitigate risks and grasp opportunities.
Member firms' clients include business corporations, governments and public sector agencies and not-for-profit organizations. They look to KPMG for a consistent standard of service based on high-order professional capabilities, industry insight and local knowledge.
KPMG member firms can be found in 155 countries. Collectively they employ more than 162,000 people across a range of disciplines.
Sustaining and enhancing the quality of this professional workforce is KPMG's primary objective. Wherever KPMG operates, they want their firms to be no less than the professional employers of choice. KPMG contributes to the effective functioning of international capital markets. They support reforms that strengthen the markets' credibility and their social responsibility. They believe that similar reform must extend to the professional realm.
The world is changing at an ever increasing pace. Increased internationalization, new data regulation, disruptive technology and alternative business models transform market conditions for both KPMG and their clients.
With this continuous change, the ability to seize opportunities while ensuring outstanding quality and control is essential for KPMG’s success. Moreover, these developments have impacted the requirements on KPMG’s internal finance department. In addition to their focus on quality and financial control, enabling the business to respond quickly to changing market conditions is a key value-adding activity.
In order to enable KPMG Finance to support the business actively in decision making, an enterprise performance management system is required which allows for integrated reporting, analysis, planning, budgeting and forecasting.
As agility is important to meet changing circumstances and need for information, this system should be easy for users to handle so it can be integrated in their daily work, without having to depend on IT to fulfill additional requirements.In addition, it should be able to deal with both financial and non-financial data from the ERP and any other source systems.
In other words: easy access to all relevant information for decision making.
How Board fits in
As recognized in Gartner’s Magic Quadrants for both Business Intelligence Platforms and Corporate Performance Management Suites, Board combines both BI and EPM in one single platform. This all-in-one approach enables organizations to support their different performance management processes with one integrated application.
In addition to the all-in-one concept, Board is praised for its ease of use and development by business and finance users, with limited involvement of IT. These characteristics make it possible to apply an agile implementation approach, with short iterative cycles to develop functionality step-by-step.
It’s because of these strengths that several KPMG member firms worldwide have been working on projects with Board successfully.
The Director of Enterprise Performance Management practice at KPMG in The Netherlands:
“The all-in-one toolkit approach of Board matches our vision on integrated performance management. This key capability, together with its ease of use and implementation, makes Board a very attractive tool”
Proof of concept and project
Based on an initial analysis of the current landscape and requirements of the KPMG Finance department, a short and thorough proof-of-concept stage was conducted. During this proof-of-concept, the most challenging functional and technical requirements were validated, in order to ensure that Board would be a good fit.
Amongst others, these requirements included delivering specific reports, supporting ad-hoc analysis, combining financial and non-financial data from different sources, and the ability to drill-down to transactional data from the ERP system.
Within a few weeks, analysis, development and presentation of the proof-of-concept took place, confirming that Board could easily fulfill the requirements defined, and that implementation would be possible in a short timeframe.
After successful completion of the proof-of-concept, the first phase of the implementation project was initiated, focusing on Reporting of Financial Data.
Supported by Board, a joint project team of KPMG Finance and KPMG’s Enterprise Performance Management team led by Sander van Yperen, delivered the first increment of Board in just 7 weeks. During this phase, the project team worked closely together, continuously focusing on the set benefits of providing insightful, easy and flexible reports and analysis to the end user.
Okele van der Kam, responsible for Reporting and Business Control at KPMG in The Netherlands, is more than satisfied with the first phase of the project:
“Implementing a new tool can be quite a challenge, especially if you want results in such short timeframe. But the implementation was well managed, with quickly resolved issues and a very limited amount of concessions to the original requirements. All in all, it was remarkably easy to do!”
As a result, the current functionality offered through Board allows the end user to easily access and analyze detailed financial data in a much faster and more flexible way than before, through its options to view from different angles or to drill down to the lowest level of GL data. This way, leveraging Board to gather data, prepare and distribute reports, and perform analyses enables KPMG to optimize the month-end closing and reporting process. As intended, this functionality also enables business controllers to support decision making even better. A good example was provided just before the official Go-Live of Board when Jonathan Meijer, business controller at KPMG Advisory, was preparing for a management meeting. In gathering the required data, Board enabled him to prepare the relevant reports much faster, allowing him more time to analyze and provide the relevant insight during the meeting. Jonathan Meijer:
“Financial analyses can be done dynamically in front of a live audience. Based on high level figures a drill down to underlying details is quite easy. This results in interactive financial sessions and an immediate mutual understanding of trends and focus points.”
With this functionality delivered, KPMG Finance leverages just a part of the capabilities Board offers to support the wide range of EPM-processes. Next to adding non-financial data to Board from other sources and making these insights available to a wider range of users, Finance is now exploring how to support budgeting and forecasting processes. Okele van der Kam:
“Running a good, thorough forecast process normally takes finance too much time to run the necessary checks and balances. So the challenge is to speed up that process, making it feel fast and easy – while staying in control – and that should give us the time to work on relevant scenarios of that forecast. My view is that with Board we will be able to achieve both goals.”
The implementation at KPMG in The Netherlands is an important milestone in the relationship between Board and KPMG. Jessica Venturini, Global Alliance Manager at Board International adds:
“Board has successfully been working with KPMG in multiple countries to deliver added-value solutions to joint customers. We are proud of having been chosen by KPMG also as a provider; it is a further recognition of the value we are bringing to our common customers. We look forward to working with KPMG and to providing them with a future-proof platform to manage and improve their business performance.”
Board International has enabled more than 3,000 companies worldwide to rapidly deploy Business Intelligence and Corporate Performance Management applications on a single integrated and programming-free platform, in a fraction of the time or cost required by traditional BI or CPM solutions. The Board platform provides a single, accurate and complete view of an organization’s information, fully integrated with enterprise processes, while uniquely enabling planning and monitoring of financial and operational performance levels from strategic down to operational detail. Board has a worldwide direct sales force and a reseller network with local partners around the globe.
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