1. Global Financial Close InfoMoksha PowerClose
with
InfoMoksha PowerClose
Presenter
Jennifer Thich, Corporate Accounting Manager, Specialized Bicycle Components, Inc.

2. Company Background
Manufactures and sell Bicycles and Bicycle Components in 57 countries
Subsidiaries in 19 countries managed through four International Hubs
Rapid growth and internationalization through acquisitions
Primary sales through dealers
Company also operates its own stores
Expect to continue growth pace through the next years
Implemented Oracle Applications to support operations

3. Financial Close Background
Corporate Close Calendar published in Excel and distributed via Outlook
Critical close steps documented
Each subsidiary and region came with its own process
New staff – overloaded with new application, new processes, testing, training
Priority Focus – Meeting business needs

4. Global Financial Close Requirements
Streamline the close process
Consistent process across all subsidiaries
Documented close steps in exact order
Ability to get ongoing status of close
Correct Oracle reports to be run and saved
Supporting documentation for activities are readily accessible
Automation of some of the tasks
Streamlined close communication
To ensure good audit trail and controls

5. Current Financial Close Process
Corporate Accounting
1.Close Calendar
2.Clarifications
1.Task Execution
2.Reports
1.Task Completion
2.Questions
Reports
Hard Copies
Reports
Soft Copies
US and Subs
Shared Folders
ftp Site
External Reporting
Corporate Audit
Clarifications
Auditor

6. Financial Close with PowerClose
Corporate
Accounting
1.Close Calendar
2.Clarifications
1.Task Execution
2.Task Completion
3. trail
4.Reports
5. Discussions
6. Rules
7. Search
Task Execution
Data & Reports
Review and Validation
Clarifications
Auditor
US and Subs

7. What we accomplished Sourced a solution that
Is integrated with Oracle Applications
Is more than a project management tool
Streamlined and standardized close process and activities worldwide
Able to get ongoing view of status without multiple s and phone calls
Reduced back and forth questions and clarifications
Works also as training guide on close process for new hires
Saving on printing costs
Expect to save on audit time and costs

8. Summary Rapid adaptation to specific requirements
Plug and Play Oracle integration with minimal IT resources
Streamlined financial processes to support growth
Reduced costs
Sourced a scalable solution that is a platform for extension to other processes
Reviewing moving at least one other process to InfoMoksha platform