Financial Management

Triskell Delivers True Integrated Financial Management Capabilities to Link Results and Resources.

Challenges:

The need for Financial Management capabilities is a critical issue for organizations. Budgets are prepared on an annual basis and new investment objectives determined during the year are difficult to take into account. Without adequate visibility or accountability, the risk is that unplanned initiatives will consume allocated budgets.

Quote:

“One of the problems with the budgeting process today is its inability to dynamically link strategy planning with available resources, actual execution and results,” says Philippe Menereuilt CEO of Triskell, “ In an ever-changing business environment, our customers are looking at seizing market opportunities more rapidly. Triskell platform allows organizations to rely on a more agile resource allocation process to redirect funds where the expected return is greatest.”

Benefits:

Reduces the time and effort required to build and reforecast costs across portfolios of projects,  budgeting time can be reduced by 20 -30% while providing executives visibility into real-time budget performance allowing quick decisions.

Better alignment of projects with strategy, financial managers to set and track budget guidelines more effectively, and project managers to balance budgets with financial constraints more easily.

 

Financial Management Capabilities

With Triskell’s Financial Management capabilities, you can manage company’s portfolio with real-time visibility into financial performance from budgeting through collection of actual costs.

+ Get real-time visibility into financial performance.

+ Track and compare actual costs to budgets.

+ Align IT budgets, activities and costs.

 

In addition to managing the financial approval and on-going monitoring of multi-year investments, Triskell provides unparalleled capabilities to help organizations build operational budgets that reflect their priorities and objectives, a process we refer to as Financial Management for PPM.

Financial Management for PPM leverages the investment performance information to support the resource allocation decisions and to build and revise operational budgets, but more importantly Financial Management establishes a clear link between funds and results. This way, budgets truly reflect strategic and operational priorities and can be closely linked to measurable output targets, whether financial or otherwise. Triskell  meets the needs of all those involved, from the investment managers seeking funds across the organization, to the budget holders committing budget to all or part of each investment, and the financial controllers who provide the ultimate arbitration on funding decisions. Triskell provides these roles with clear precise information relating to their budgeting requirements, funding decisions and expected benefits from investments and projects. The result is a dynamic and agile budgeting process that delivers true performance-oriented budgets

Financial Management features reduce project costs and budget overruns by providing improved monitoring and early management corrective action, along with increased visibility into budgets, prioritization and return on project investments.

Financial Management enables dynamic alignment of capital and operational budgets.

Financial Management capabilities allowing organizations to build budgets that accurately reflect strategic and operational goals, capture the full cost of resources required to support initiatives and projects, reallocate funds according to changes in priorities, and improve collaboration between operational and financial staff.

Triskell model allows budgets to be based on results. Financial Management provides visibility into investments to understand where resources are committed and the impact of initiatives on budgets. It enables the on-going alignment of functional budget and the investments that support the organization’s strategy, providing a direct linkage between resources required to achieve specific goals. Triskell enables organizations to dynamically manage the budget allocation process and analyze trends between investment estimates, allocated budgets, forecasts and actual expenditure.

Triskell enables powerful financial management processes that integrate with Financial systems (ERP) to enable charge-back processes and financial reconciliation. Based on standard API and web services, we can provide integration with all ERP systems like SAP, Oracle, Microsoft Dynamics  among others, and can be implemented in under 30 days.

Financial Management Features

Time-Phased Attributes for Budgeting & Resourcing

Time-phased attributes allow users to edit / view periodic data in tabular mode.

They can be used to manage costs, headcounts, benefits and any other kind of time-phased data.

You can create as many time-phased attributes as you need and they can be attached to any objects (i.e. projects, products, departments, customers, risks, deliverables).

They include natively:

+ Public and private versions (i.e. budget, forecast, actuals): versions are secured by role and lifecycle. No limit in number of versions. Versions can be edited simultaneously in the same grid.

+ Up to 5 analysis axes for data entry (i.e. cost types, regions, resource types, budgetary buckets) with automatic aggregations.

+ Multi-currency for budgeting: edit data in Euros, Dollars and any other currency in the same grid.

+ Multi-unit for resourcing : edit data in hours, man-days, man-month and any other unit in the same grid.

+ Multi-timeframe : enter and view data by month, quarter, year or globally.

+ Automatic rating of amounts based on custom rate tables.

+ Embedded rollups from child related objects, from pools and timesheets.

Change Tracking & History

Any change made to a role, lifecycle, attribute, time-phased attribute is recorded by Triskell. It allows users to analyze how information has evolved over time and who changed the values.

+ Change tracking can be activated or deactivated by attribute.

+ Changes are displayed in panels for each attribute.

+ Changes are also displayed in the scorecards.

Scorecards on every Object

Every set of objects you have created (i.e. list of projects, products, risks, deliverables, issues, teams, customers…) is represented in Triskell as a scorecard.

Scorecards are a key element for Triskell navigation and data analysis.

They include natively:

+ Public and private views to speed up data access and analysis.

+ Embedded security on data: users can see only what they are allowed to.

Custom columns, filtering, sorting and grouping (saved in the views).

Paging to allow manipulation of large amounts of data.

Display of attribute icons and colors.

Advanced tooltips for guidance and data changes.

+ Exportation to MS Excel or other systems.

Graphs and Masterplan on every Object

In addition to scorecards, Triskell allows users to define dashboards and master plans for any set of objects.

+ Filters defined for the scorecards are taken into account in graphs and master plans.

+ Multiple graphs can be displayed on the same page.

Standard representations are available: pie charts, histograms, curves, scatter graphs.

+ Graphs can be exported as images.

Master plans can use colors defined by lifecycle stage for visual enhancement.

Master plans can display baselines and progress.

Scenarios & Simulations on every Object

Triskell supports scenarios on any object. For example, users can build scenarios on a list of projects, products, issues, deliverables or risks.

Scenarios use numeric attributes or time-phased attributes to express a capacity like budget (warning if exceeded) or a target like benefits (warning if not reached).

+ Users can select and order a set of objects (i.e. projects) to prioritize them and to measure their impact on capacities and targets, all that graphically.

Users can delay objects to optimize the scenario.

+ Results are saved as attributes for each object and as versions (for time-phased attributes) for further analysis and decision making.

Dynamic Datamart for Reporting

Triskell includes natively a dynamic datamart that can be used for reporting and interfaces:

+ Automatic refresh as soon as data is updated – no manual process nor delay.

+ Any data managed in Triskell is accessible through the datamart.

Data stores can be built in Triskell on the datamart to extract data – no extra- development needed.

Data stores can include parameters to make them even more customizable.

Custom reports can be built on these data stores. Output can be processed in Triskell or in MS Excel (with templates for layout and extra-calculation or graphs).

 Other solutions

Project Portfolio Management Strategic  Business and IT Portfolio Management Financial Management Resource Management PMO Managemet