Learn how Barrick Gold streamlined their Financial Close and Planning Process by replacing multiple disparate & siloed systems with one unified application.
Barrick Gold’s OneStream Journey & Roadmap
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Welcome & Panel Introductions
Ascend Partners Introduction
Barrick Gold Introduction4
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OneStream Introduction Questions & Answers
Summary
Agenda
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Our Panel
Peter PopalisManaging Partner
Craig ColbyPresident
Sylvia WangEPM Implementation Manager
Etienne DurafourDirector, Financial Systems Integration
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Corporate OverviewA Modern Platform for Corporate Performance Management
OneStream Overview
An Intelligent Finance Platform for the Modern Enterprise
The value of modern finance lies not in eliminating complexity
But in navigating the enterprise through it
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Platforms vs. Point SolutionsAre the Foundations for Conquering the Complexity of Transformation
… extensible mobile platform… extensible CRM platform… extensible CPM platform
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OneStream at a Glance
100% Customer Success
World Class Support100% SLA Compliance
Embedded Diagnostics/One SolutionDirect Link to Development
90% First Response Under 40 Minutes
Visionary LeadershipDomain Experts • Inventors
Bob PowersHFM Inventor
Hyperion VP R&D
Tom SheaFDM Inventor
Founded UpStream
Domain ExperienceSales • Services • Support
Over 900 Employees10+ Years Avg. CPM Experience
200+ Partners Globally
Industry Accolades
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100% 800+
70% 140K
Customer Success Customers
Converted from multi-product
deployments of Oracle Hyperion, SAP or IBM
Users in Finance and LOBs
By the Numbers
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CPM 1.0/Connected Finance – FragmentedMultiple Applications, Points of Maintenance and Data Integration
SAPORACLE
NETSUITEORACLE
E-BUSINESSSUITE
WORKDAY MICROSOFTDYNAMICS
Financial Consolidation
Planning and Budgeting
Statutory Reporting
Account Recons
Mgmt Reporting
Tax Provision Long Range Planning
Cash Forecasting
Operational Planning
ProfitabilityLease Accounting
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CPM 1.0/Connected Finance – FragmentedMultiple Applications, Points of Maintenance and Data Integration
SAPORACLE
NETSUITEORACLE
E-BUSINESSSUITE
WORKDAY MICROSOFTDYNAMICS
Financial Consolidation
Planning and Budgeting
Statutory Reporting
Account Recons
Mgmt Reporting
Tax Provision Long Range Planning
Cash Forecasting
Operational Planning
ProfitabilityLease Accounting
Planning and Budgeting
Financial Consolidation
Profitability
Narrative Reporting
Long Range PlanningTaxAccount Recs
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Unleash the Power of Finance with a Unified Platform
OneStream’s Intelligent Finance Platform
SAPORACLE
NETSUITEORACLE
E-BUSINESS SUITE
WORKDAY MICROSOFTDYNAMICS
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Empower the Enterprise with Financial and Operational Insight
OneStream’s Intelligent Finance Platform
SAPORACLE
NETSUITEORACLE
E-BUSINESS SUITE
WORKDAY MICROSOFTDYNAMICS
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Evolve and Scale to Support Growth
OneStream’s Intelligent Finance Platform
Extend Your Investment
SAPORACLE
NETSUITEORACLE
E-BUSINESS SUITE
WORKDAY MICROSOFTDYNAMICS
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Unique Advantages
Specifically Designed to Conquer Complexity so Finance Can Lead @ Speed
MARKETPLACEDATA BLENDINGEXTENSIBLE DIMENSIONALITY®
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Plan & Report Without Compromise
Unique Advantage: Extensible Dimensionality®
Net Sales
Operating Sales
IC Sales
Returns & Allowance
Other Outside Sale
Operating Sales
IC Sales
Returns & Allowances
Other Outside Sales
Operating Sales
IC Sales
Returns & Allowances
Other Outside Sales
IC Sales
Returns & Allowances
Other Outside Sales
Third Party Sales
OEM Sales
Subassembly
Part Sales
Operating Sales
Management Rev.
Corporate Events
Event Revenue
Services RevenueServices Revenue
Management Rev.
Net Sales Net Sales Net Sales
Event Revenue
Non-Corp. Events
Corporate Standard Manufacturing | Actuals Services | Actuals Services | Budget
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Financial Signaling In Action
Daily / Weekly Operational& Financial Data
• Supplier Performance
• Orders and Shipments
• Customer Churn
• Working Capital
• Days Sales Outstanding (DSO)
Monthly Financials
• Consolidated Actuals
• P&L, Balance Sheet, Cash Flow
• Financial Plans & Forecasts
• Operational Plans
• Management Reporting
• Analysis
Week 1Week 2
Week 3Week 4
FINANCIAL INTELLIGENCE
The Financial Intelligence to Make Mid-Stream Decisions that Can Impact Month-End Results
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Accelerate Insights with 50+ Pre-Built Solutions
Unique Advantage: OneStream MarketPlace
Productivity Tools
GuidedReporting
Parcel Service
Task Manager
Data Entry123
SystemDiagnostics
Planning & Analysis
PeoplePlanning CapitalPlanning
CashPlanning
Predictive Analytics 123
Sales Planning
Financial Close & Reporting
Account Reconciliations
Transaction Matching
Compliance Solutions
TaxProvision
Apps Control Manager
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Ascend Partners Introduction
As the first OneStream partner in Canada, Ascend Partners focuses exclusively on the OneStream platform. We have successfully implemented most Canadian OneStream projects and partner with OneStream Services for complex global roll-outs. We have been there since the beginning.
Our Approach Our Solutions Our Goal
With the Ascend Advantage, your cloud-based financial technology solution is configured to your unique needs, implemented alongside your team for better training and learning opportunities, faster launches and immediate realization of the benefits of OneStream's SmartCPM.
Our Expert Team will help you understand just how powerful a CPM solution can be for future growth, process efficiency, cost reduction and innovation⬥ Financial Close & Consolidation⬥ Planning, Budgeting & Forecasting⬥ BI Reporting and Analysis⬥ Account Reconciliation
Your Trusted Advisor for the professional implementation of a sophisticated solution specifically tailored to your exact business needs, with continued support to help meet your future needs
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Ascend Partners Your Uniquely Qualified Delivery Partner
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Marketplace
Introduced OneStream to the Canadian marketplace and focusing solely on OneStream consulting & implementations
First OneStream partner in Canada; a Platinum partner since 2018 and Diamond partner status elevation coming in 2021
Partner Status
Our Team
A combination of globally-based senior Chartered Professional Accountants (CPA’s) and highly skilled technical OneStream specialists including architects, data integrators and developers
Master Application
Pre-built master application as a foundation to accelerate implementation
and minimize business disruption
Tools & Templates
Structured framework and repeatable processes; standardized tools and
templates to streamline design
Team Experience
Working together as a cohesive team on projects for many years; executed over 25 sophisticated OneStream
implementations in the past six years
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Ascend Partners Key Facts
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⬥ 40+ OneStream consultants around the globe
▪ 30 based in Canada (coast to coast)▪ 5 based in India▪ 1 based in United Arab Emirates▪ 3 based in Eastern Europe▪ 2 based in Argentina▪ 1 based in the USA
We are geographically diverse and well positioned to support new and existing clients around the globe
We invest heavily in training to ensure our team continues to grow and build their skills, enabling us to put forward the most talented and capable OneStream consultants for the job
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Barrick Gold Introduction
• Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries.
• With mining operations in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Mali, Papua New Guinea, Saudi Arabia, Tanzania, the United States and Zambia.
• Headquartered in Toronto, Ontario, Canada, employing 21,000 + employees globally.
Our Vision Our Mission Our Goal
Attract and develop strong, world-class people who are informed and involved in the processes of the company. Who act with integrity, and are tireless in their pursuit of excellence.
To be the world’s most valued gold mining business by finding, developing, and owning the best assets, with the best people, to deliver sustainable returns for our owners and partners.
Build a Sustainable Legacy. We earn our social license by being a valued member of our host communities by creating economic activity. We manage the impact of our operations and strive to be the industry learn in safety, health and environmental practices.
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Barrick Gold Introduction
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Donlin Gold
Golden Sunlight
Nevada Gold Mines
Fourmile
Hemlo
Corporate office, TorontoGold producingProjects
Corporate officeIn closure
USA
CANADA
North America…
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Barrick Gold Introduction
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Latam & Asia Pacific...
Pueblo Viejo
Porgera
Pierina
Norte Abierto
Pascua-Lama
Alturas
Zaldívar
Veladero
Gold producingProjectsCopper producing
In closureCare and maintenance
PERU
CHILE ARGENTINA
PAPUA NEW GUINEA
DOMINICAN REPUBLIC
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Barrick Gold Introduction
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Africa & Middle East… Loulo-Gounkoto
Tongon
Lumwana
Jabal Sayid
Kibali
North Mara
Bulyanhulu
Buzwagi
Gold producingCopper producing
SENEGAL
CÔTED’IVOIRE
ZAMBIA
TANZANIA
SAUDI ARABIAMALI
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Barrick Gold Introduction
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• Barrick consolidate 400+ legal entities
• Barrick report at the group consolidation level in USD and under IFRS. In some tax jurisdictions, we are also reporting in Local GAAP.
• Consolidation method include :
• Equity accounted
• Fully consolidated (with NCI)
• Proportionally consolidated
• Attributable share (for management reporting)
Latest group financial results Q2 2021…Financial Results Q2 2021 Q1 2021 Q2 2020 H1 2021Revenue ($ million) 2,893 2,956 3,055 5,849
Net earnings ($ million) 411 538 357 949
Adjusted net earnings ($ million)4 513 507 415 1,020
Adjusted EBITDA9 1,719 1,800 1,697 3,519
Net cash provided by operating activities ($ million)
639 1,302 1,031 1,941
Free cash flow ($ million)10 (19) 763 522 744
Net earnings per share ($) 0.23 0.30 0.20 0.53
Adjusted net earnings per share ($)4 0.29 0.29 0.23 0.57
Total attributable capital expenditures ($ million)11 518 424 402 942
Cash and equivalents ($ million) 5,138 5,672 3,743 5,138
Debt, net of cash ($ million) 14 (519) 1,425 14
Dividend per shareii ($) 0.09 0.09 0.08 0.18
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Question 1
Discussion: The Hyperion Environment Barrick Gold was on and various issues in consolidation and planning.
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● Consolidation/planning needed significant reconciliation using FDMEE mappings
● Consolidation/planning in 2 different applications● Hyperion Financial Management and Hyperion Planning (6
applications) were old legacy systems with complex scripts ● Limited Life of Mine (LOM) capabilities in Hyperion ● Systems inefficiency during consolidation process
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Question 2
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What went into the decision to go to SAP S4Hana and was there any evaluation of SAP’s CPM toolset and why was that ruled out?
● Consolidation not seen as SAP’s strength. E.g. BPC and the new cloud solution
● Complex ABAP rules needed to be developed
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Question 3
What was the decision point of OneStream versus the Hyperion upgrade?
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● Actual and Planning share the same system● Workflows and security● Drill down capabilities ● Cashflow automation● Interco elimination● Interfaces with SAP S4● Admin and support ● Cost
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Question 4
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Where is Barrick Gold currently in their OneStream roadmap and what benefits have you realized or seen?
Roadmap Status:● Consolidation of Actuals TBs live since October 2020● Planning went live March 2021, 80% globally deployed pending African
operations
Benefits:● Actual and Planning sharing the same metadata and ratios calculations● Workflows ● Drilldown and drillback capabilities to SAP● Cashflow automation● Elimination of Interco ● Easy upgrade
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Question 5
What do the next phases for OneStream look like?
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● Project Stabilization (reinforce training and automation)● OneStream -> SAP drillback● Tax provision solution implementation● Further standardization of reporting and enhanced analytics
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Summary
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● Leader in Reporting in the Mining Industry
● Rapid scalability to simplify the acquisition process
● Single point of maintenance enabling more business agility
● Endless opportunities through existing and upcoming marketplace
solutions
● Streamlining communications between FP&A teams
● Elimination and reduction of business silos