Atlanta Oracle Applications User Group Member Spotlight

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Atlanta Oracle Applications User Group Member
Spotlight

• April 15, 2005
• Mark Clark and Greg Keith

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Agenda
Who is AMVESCAP?
Oracle Applications Environment
Lessons Learned / Future Projects
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Who is AMVESCAP?

• One of the largest independent investment
  management groups
• Strives to deliver outstanding retail (mutual
  fund) and institutional products and services
• 380 billion in Assets Under Management
• 50 offices worldwide
• Growth through mergers and acquisitions
• Entrepreneurial and autonomous culture

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Our Brands
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Global Footprint
Revenues
Profit
As of 9/30/04
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Who We Are / Were

• Mark Clark
• During implementations, was the Controller for
  our AIM division in Houston
• Greg Keith
• Corporate-level IT project manager

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Original Oracle Applications Environment

• 1997-98 AIM first implements 10.7 SC (AP, GL,
  FA, CM, PO, Projects)
• 1999 INVESCO US offices implement within the
  same instance and adds AR
• 2000 AIM implements Inventory and Order Entry
  for Sales Literature Warehouse
• 2000 AMVESCAP purchases Trimark and merges
  their existing 10.7 environment into our instance

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Problems Faced

• By 2002, AMVESCAP faced
• Looming Oracle de-support of 10.7
• Finance groups outside of North America that were
  on 14 separate GL systems
• Consolidation and reconciliation that was
  problematic given tight reporting timelines
• Intercompany transactions that were difficult to
  process manually intensive

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The Solution
After
Before
GLOBAL
GLOBAL

AP
Purchasing
Fixed Assets
LOCAL
AR
GL
Cash Mgmt
Inter - Co
iExp
LOCAL
Local technology decommissioned
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Dual Projects
Utilized Bearing Point for PM and 11i Expertise Coordinated with AMVESCAPs Houston-based application development and support team No additional modules were implemented
Utilized Bearing Point for PM and 11i Expertise Pulled regional Finance staff full-time onto the project team (5 people from UK and Dublin) Implemented base modules from the North American implementation plus iExpenses module
North America
Global
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Project Progressions
North American Upgrade
Initiation
CoA Design
Continental Europe
Dublin Pilot
UK Rollout
Asia Pacific
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Locations

• North America
• Houston
• Atlanta
• Toronto
• Denver
• Louisville
• New York
• Boston
• Dallas

• Global
• London
• Henley-on-Thames
• Dublin
• Hong Kong
• Frankfurt
• Brussels
• Melbourne
• Paris
• Tokyo
• Milan
• Teipei
• Singapore

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Chart of Accounts Design

• For AMVESCAP, the key to a successful
  implementation was the design of a single Chart
  of Accounts structure.
• We needed a structure that was
• As simple as possible
• Flexible
• Supportive of a variety of Statutory and
  Management reporting requirements
• Providing a framework for future reporting needs

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AMVESCAP Chart of Accounts
Entity
Dept/CC
Natural Account
Sub Account
Inter- company
Fund/ Product
Channel
Misc
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4
5
4
6
4
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Ownership
AMVESCAP
AMVESCAP (Ranges)
AMVESCAP
Local
AMVESCAP
Local
AMVESCAP (Ranges)
Local
Required
Yes
No
Yes
No
Yes, For Ico Tx
No
No
No
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Expected and Realized Benefits

• Enabled financial reporting from Oracle rather
  than another reporting tool
• Enabled implementation of the Global Intercompany
  System to clear intercompany transactions
• Enabled an efficient Shared Services environment
  Accounts Payable, Payroll, etc.
• Enabled relationship reporting across business
  units vendors, customers, etc.
• Single CoA structure reduced required IT
  maintenance

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Unanticipated Benefits

• Consolidation of business locations was
  accomplished much easier
• Served as the common reference tool for
  implementation of Sarbanes 404 under COSO approach

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IT Shared Services Environment

• Application Development and Support
• 1 Manager plus 6 Developers, including 4 with 5
  years of Oracle Financials experience
• Dedicated Database Administration Support
• Network and Telecommunications Support
• Houston Data Center 24x7 Support

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Upcoming Projects

• Upgrade to 11.5.10
• Global Consolidation System
• Sarbanes Oxley Tool

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Questions and Answers
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Thank You!