CASE STUDY | BUDGET, PLANNING & CONSOLIDATION
Janus Henderson reduces consolidation calculation time & financial close time with re-imagined SAP BPC group reporting solution.
Decision Inc. UK helps Janus Henderson Investors (JHI) secure a new combined group financial reporting system: achieving a single version of the truth, capitalising on their investments in SAP systems and minimising manual intervention in the production of key reporting outputs.
This project was executed at pace to integrate the financial processes of the newly merged Janus Capital and Henderson Global Investors groups within 7 months. The project was an SAP UK Quality Awards 2018 Finalist in the Rapid Deployment category.
About the Client
JHI is a leading global asset manager formed from the merger of the Janus Capital Group and Henderson Global Investors in 2017. The group’s assets under management (AUM) exceed $401.6bn (Q4 2020), with capabilities across all major asset management investment classes.
To capitalise on the opportunities offered by the merger, the group embarked on the development and implementation of a common SAP system for Finance (ERP) and Consolidation. As part of this programme the SAP BPC system was to be re-implemented to deliver a group wide financial reporting solution. The solution was intended to facilitate:
- Reporting of actual and plan data in accordance with both US GAAP and IFRS accounting standards
- Translation, elimination and consolidation of all categories of data at the appropriate level of granularity
- Improved system performance for data loading and calculations
- Significant reduction in manual excel procedures in the production of key internal & external reporting outputs
- Reduction in the length of the reporting cycle without sacrificing control
- Increased transparency and comparability of data across the group.
JHI engaged specialist EPM consultants Decision Inc. (formerly Copperman Consulting) to provide a group-wide solution for financial reporting. There were several guiding principles for the implementation:
- To provide a system designed to reflect the group’s long-term SAP strategy and data structures
- Achieve the perfect balance of simplicity and complexity, delivering a system capable of producing the required reporting outputs whilst being easy to understand, operate and maintain
- To utilise SAP-standard configuration practices, eliminating the use of alternatives techniques used.
Phase 1 of the project delivered the following:
- Best practice data structures, allowing effective use of the BPC system’s core functionality for loading, translation, elimination and consolidation
- Robust and reliable interfaces with SAP ERP
- Standardised input templates allowing traceability of any manual adjustments
- A bespoke suite of formal and review reports, allowing precise interrogation of data
- Comprehensive security, ensuring that data is only available to those with the proper authority
- Clear & concise documentation of the solution delivered
The Experience Working with Decision Inc
“Taking on-board the lessons learnt from previous BPC implementations we recognised the importance of going with a BPC specialist when we re-implemented our solution.”
Future phases have since expanded the SAP BPC solution to cover financial planning and people planning.
The engagement of Decision Inc. to deliver a group-wide consolidation solution not only allowed JHI to capitalise on bringing both organisations onto the same infrastructure but also leveraged standard system functionality to improve process execution, efficiency, stability and consistency.
Significant process improvements were obtained including:
Runs in 10 seconds as opposed to 5 minutes.
Loading time reduced by more than 60%
Leaner & more focused data model
Shortened the financial close process.
Decision Inc’s proven delivery approach achieved a consistent process, with minimal manual intervention and use of alternative treatments, successfully delivering on the key objectives of the engagement.
About the Project
“Decision inc. brought the crucial mix of expertise we needed to deliver successfully: technical know-how, accounting proficiency and stakeholder management skills.”
Project Highlight | Rick Newbould, Managing Director, Decision Inc.
“This project was special for a number of reasons, but the most rewarding moment was coming together with the Janus and Henderson teams in Denver for Testing & Training on the new combined group reporting solution.
Highlights included the team unpacking their new intercompany process and matching their intercompany test data, an evening of line dancing and the spectacular view of the Great Plains meet the Rocky Mountain as you fly into Denver’s unique teepee style airport.”
About Decision Inc.
DI is a global leader in information-driven transformation with a core focus on data, digital and performance intelligence. Our expertise in technology and industry specialisations have enabled us to help companies around the world make better decisions faster. Our emphasis on local excellence and global scale enables us to bring clients best of breed technology solutions that enable significant improvement whilst leveraging our Global Research and Innovation teams to accelerate the time to insight. Our local consulting teams are experts in the implementation, support and execution of these solutions and work with our clients to deliver real results and improvement.
The latest version of the SAP Business Planning and Consolidation (BPC) application, version 11.1 was released in 2019. It is now built on the BW4/HANA 2.0 platform, which is a significant improvement from the earlier versions.
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