Imperial UK Implementation - Week 3

Tagetik CPM software for Budgeting and Planning



Some prep work took place in advance of the session with the Tagetik consultant. Data had been loaded for the previous 3 financial year and planning periods however we did not yet have the skills to road test the quality of the input. The session for later in the week was intended to address this and the impact of adding a new entity. We chose the holding company as for accounting purposes there would not be a significant amount of transactions to account for. Nevertheless a small data exercise was required to convert the data as it currently stood into something that was meaningful to Tagetik.
Future tasks that were anticipated at this stage were mapping the codes associated with the holding company into the current tagetik structure. We also had an eye on the current structure in that whilst it was mathematically logical it would not necessarily stand the test of time and that the nature of the parent/child codings of the notes might go out of kilter over the years to follow (i.e. we might start moving nodes about). We had created a tree structure with a leaf with an account code at the end of each trunk, branch etc, but in some cases there was only one leaf at the end of a branch, but the structure went down layer after layer in order to get to it. From a user experience it’s not great, but it wouldn’t be until we had all companies in to our satisfaction that we would look at this as account hierarchies can be changed retrospectively (provided you don’t mind rewriting your reports).
We revisited the account hierarchy this week as the accounts dimension effectively contained elements of other dimensions within them. An example of this would be in our Vehicle Sales department where the accounts dimension expressed aspects of the Franchise Model (e.g. a DAF XF), however this had already been expressed through the Franchise Model dimension. The rationale around this was well meant in that it expressed our accounts as they were currently delivered and would have provided a route through which we could have drilled through to general ledger balances. Multi-dimensional models aren’t set up to behave in this way and having 2 routes to get to the ‘same’ information is the path to destruction. With this in mind a rethink of the accounts elements was needed which would involve identifying the lowest level elements, organising them into a hierarchy and reloading the data. Most of the work would be around identifying the lowest level elements and the reload process was not likely to be that difficult.
In the meantime the data was set up for the holding company in readiness for the loading process for the latter.


Tagetik for unified budgeting, planning and forecasting

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