It is an integrated solution that covers the ‘four pillars’ of Financial Performance Management (FPM):

  • Financial Consolidation
  • Budgeting, Planning and Forecasting
  • Reporting, Analysis and Visualisation
  • Report Assembly and Disclosure

You can be quickly up and working with a pre-configured solution that is ready to use with minimal configuration or use it as an example of best practice design and build to be further developed to your own requirements.

This solution has been verified by IBM

Benefits of HAYNE iFPM

HAYNE iFPM has been developed based on extensive experience of FPM and the period end financial close. It is designed for accountants by accountants and can be managed within the office of finance.

HAYNE iFPM provides you with:

  • Reduced implementation times
  • Lower risk of project failure
  • Best practice and tested configuration
  • A tried and tested platform to deliver FPM

Key features of iFPM

An integrated application, pre-configured for:

1. Financial Consolidation

At the heart of HAYNE iFPM is the consolidation module that utilises best of breed software, pre-configured and ready to use. The result is a quick to implement, flexible and low maintenance solution that automates low skilled tasks and reduces risk of error resulting in an efficient close/consolidate process. The pre-configuration includes:

  • Data load (using HAYNE Unity which is included) and mapping process
  • Chart of Accounts – based on the internationally accepted FRS102, including P&L, Balance Sheet,
    automated Cash Flow and Notes to the Accounts
  • Reconciliation Rules and Checks – to provide control over data validity
  • Company structure – an example structure containing multiple ownership types
  • Automatic Investment Elimination – including 100% owned, Minority Interests, Joint Ventures and
  • Automatic Inter-company Elimination – including, amongst others, trade debtors / creditors, group loans
  • FX translation – based on commonly used FX methodologies e.g. closing, average and historic rates
  • Security – pro-forma security groups based on best practice usage

2. Budgeting, Planning and Forecasting (BP&F)

BP&F plays a significant part in the monthly financial close process and also beyond into quarterly and annual cycles. The HAYNE iFPM BP&F module is best of breed planning software that is fully integrated with consolidation. HAYNE iFPM comes with pre-configured data collection cubes and processes that can be further developed to your own requirements including operation plans e.g. HR, sales and marketing.

  • Data collection cubes
  • Data load processes

3. Reporting, Analysis and Visualisation

The basis of reporting and analysis is a best of breed OLAP platform. The reporting module allows real time access to consolidation data as well as data from the BP&F module. The reporting and analytics software provides for capability around:

  • Reporting  – Self-service reporting and analysis – including Excel integration
  • Dashboards  – and other visualisations
  • Multi-user deployment
  • Templates

The HAYNE iFPM reporting module is pre-configured with pro-forma OLAP cubes – HAYNE Analytics (see separate factsheet) and financial reports, dashboards and templates.

4. Disclosure

Combining narrative and numbers in monthly documents, such as Board Reports and Statutory Accounts, is often described as the ‘Final Mile’ of finance. The HAYNE iFPM disclosure module is able to connect with the reporting module (and other sources) to enable the automation of report assembly. The HAYNE iFPM disclosure module is pre-configured with pro-forma Statutory Accounts based on FRS102. There are also pro-forma examples of Board Packs and PowerPoint presentations.

  • Annual statutory accounts based on IFRS & FRS 102 template
  • Pro-forma board reports

Designed for accountants

HAYNE iFPM has been developed based on many years experience of FPM and the period end close process. It has been designed by accountants for accountants and can be managed within the Office of Finance.

Contact us to request a demo

Contact us to discuss HAYNE iFPM and how it can compliment and enhance your IBM Cognos Controller solution.