Selecting a suitable Performance Management (EPM) solution is not easy. Reason for VodafoneZiggo to start a thorough selection process. By using use cases and involving users throughout the selection process, the needs became concrete. In this way, a well-founded choice was made for the solution that best suited the current goals and a good basis was laid for the start of the implementation project.
The desire for a thorough tool selection for a new EPM solution had been in play for some time. Sarita Sewnarain, Manager of Technical Reporting at VodafoneZiggo: "Earlier, the time was not ripe. After the joint venture between Vodafone Group and Liberty Global, more time was needed to harmonize the reporting structures in order to make a more successful transition to an EPM solution. Over the past few years, we have worked step-by-step to standardize that. Now the users are ready for an integrated reporting system."
"The selection process was a logical next step in further simplifying various processes after the merger of the two companies. You can't start painting the house before the structural construction is complete," adds Julius Ronner, Head of FP&A within VodafoneZiggo.
"We were looking for an integrated end-to-end system, facilitating people like "One Finance" with a tool that allows them to focus on their core business."
Alignment of goals during tool selection
An important element of the tool selection is to surface the common goals that VodafoneZiggo wants to achieve with the new system as part of the "Go Digital" strategy. Julius: "For us, these were further professionalization of the reporting & control cycle. We wanted to automate manual activities and make time for value-added activities, strengthening the role of Business Control and FP&A. We also wanted to improve the forecasting processes; more insight, available faster and with less work."
"We were looking for an integrated end-to-end system, facilitating people like 'One Finance' with a tool that allows them to focus on their core business," Sarita continued.
Attractive employer through the right tools
Besides substantive goals, there is often another reason that weighs in during the selection process: attracting new people. "This last reason I hear more and more often lately during selection processes. Companies want to offer a good technological perspective in the current tight labor market," says Tom Borsboom, Finext consultant and closely involved in the selection process at VodafoneZiggo.
This is certainly an important consideration for VodafoneZiggo as well. Julius: "People want to work in a professional state-of-the-art environment and be able to be proud of the experience and knowledge they gain. Nobody wants to work at a company where they are still working with carbon paper, so to speak."
Dealing with the complexity of finance
The finance domain of VodafoneZiggo is complex, with 250 financials, many different systems and many end-to-end finance processes. To do justice to this complexity, the selection process was approached Finance-wide.
"For each topic, we went into depth with the users based on use cases, rather than just assessing the commercial demo," Sarita says. She is enthusiastic about this approach, "I am going to take this approach for the rest of my career, this was the foundation of the selection."
Users' opinions matter
This includes not only the users from business control, but also financial control, accounting, external reporting and IT. Julius: "The users know exactly what they need and what they are up against."
Another key success factor was documenting each step. This involved not only noting the ratings, but also the feedback in text. Julius: "This allowed us to look at the factual issues. We put a number of things side by side; not only the functional requirements, but also more technical aspects such as the degree of integration and the interfaces needed."
"The users know exactly what they need and what they are up against."
Detailed substantiation users give deciding factor
During a tool selection, all sorts of dilemmas come up that need to be decided. This was also the case at VodafoneZiggo. Take, for example, the choice between a platform solution or a sum of point solutions. Another dilemma revolved around the question of the extent to which to deviate from the existing preference for one organization-wide software vendor during tool selection.
From a longlist, based on all input, a shortlist is developed. Ultimately, the choice fell on OneStream, with the detailed substantiation from users and the situation at VodafoneZiggo being the deciding factor.
Impartial guidance on tool selection
Looking back, Julius found the selection process quite intensive. "A selection process confronts you very much with making choices. Broadly speaking, we knew exactly what we wanted, but we didn't know exactly from each other. Bringing that together and making it concrete is tough. In addition, I found it instructive to spar with other departments and also learn to understand their processes."
Sarita and Julius are positive about the guidance from Finext. Julius: "We chose Finext because of the knowledge, the flexible approach and the culture. Finext's consultants ask: 'are you sure you mean this, because we also see things differently'. We wanted the opportunity to spar together and strive for best practices. Moreover, they take the knowledge from the selection process to the implementation phase."
Another reason for choosing Finext is its impartiality. Tom: "We are independent of software vendors and have years of experience in selecting and implementing all major EPM solutions. This allows us to give independent advice on the pros and cons of the various systems."
"The time you spend on selection pays off later through the choices made and preparation for implementation."
Carried choice and implementation savings
The careful approach yielded clear benefits. Julius: "First, it allowed us to look at the tools in an integrated way. In addition, this approach resulted in a supported choice. Also, this approach ensured convincing the internal stakeholders as well as a good start for the implementation team. This saves money during the implementation and resulted in the decision to place the project implementation in the line organization in the form of a co-build approach."
The tool selection has a positive impact on Sarita's team: "Interestingly for the Technical Reporting team, we are now making the dot on the horizon a reality. Our goal is for users to be able to work with OneStream in the best possible way and experience the benefits."
Investment comprehensive tool selection pays off
The team at VodafoneZiggo definitely recommends an extensive selection process. Julius: "The investment is worth it. The time you spend on the selection pays off later through the supported choices and preparation for implementation."
