The Voice of our Experts
Functional Specifications Assistance:
How to structure and secure your EPM projects
Interview with Yann Gervy, Senior Manager in Group Information Systems at Primexis
Modernizing a consolidation solution, reviewing a reporting process, or migrating to a new EPM tool means clarifying requirements and precisely defining the scope a project.
In this interview, Yann Gervy, Senior Manager in the Group Information Systems team at Primexis, discusses his Functional Specifications Assistance engagements carried out within Finance departments in an environment characterized by developing accounting standards and the end of maintenance of certain legacy tools.
In consolidation and reporting systems transformation projects, what issues come up most often?
For many years, groups have had to deal with numerous regulatory developments – IFRS 16, IFRS 17, ANC [French accounting standards] 2020-06, and soon IFRS 18. These developments require adapting models, processes, and the tools themselves.
Another major issue is the end of maintenance of legacy tools like SAP FC, which requires Finance departments to take on replacement projects. These two dynamics create a strong need for structuring: analyzing what exists, identifying expectations, and defining clear project framework.
How does a Functional Specifications Assistance project start in this context?
Our projects always start with a scoping process. This involves understanding the context, objectives, and current practices: group structure, closing procedures, regulatory constraints, reporting requirements, and limitations of the existing tool.
After that, we formalize the functional expectations, structure the scope of the project, and lay the foundations for the future tool. This work is essential to guarantee a clear and understandable path forward for all stakeholders.
“Our role is to translate a business need into a functional solution. This interface is vital for securing an EPM project.”
Yann Gervy
Group Information Systems Functional Specifications Assistance expert, Primexis
What types of projects do you assist with on a daily basis?
We work with industrial groups, service companies, retailers, and players in the banking and insurance sector. Projects include implementing consolidation solutions, redesigning or optimizing reporting processes, migrating end-of-life tools, improving the reliability of financial data, and improving closing cycles.
Each context has different needs, but the goal remains the same: have a system that is more understandable, more robust, and better suited to business uses.
What are the main challenges that push Finance departments to take on these projects?
Many factors frequently come up, such as regulatory developments that impact consolidation and reporting, the end of maintenance of legacy tools, the need to improve the quality and consistency of financial data, the need to automate certain steps to save time during closing, or increasingly complex organizations to integrate into the tool.
These factors are driving Finance departments to review their information systems to have a more sustainable and reliable platform.
How is a Functional Specifications Assistance engagement structured for this type of project?
Our Functional Specifications Assistance engagements cover the entire project, from scoping and needs analysis to drafting specifications, writing functional specifications, documented functional acceptance testing, recovering and improving reliability of historical data, documentation, change management, and user support.
We act as the interface between the business teams, the technical teams, and sometimes the software publisher to ensure that the solution truly meets expectations.
Could you describe a recent example?
We are currently working with a French group to replace two tools: one dedicated to management reporting and the other to statutory consolidation.
The project started with a design phase, involving a needs analysis and defining functional rules. The next steps will focus on acceptance testing, migrating historical data, and training for teams in the various entities to ensure consistent tool adoption.
“As the interface between business and technical, we ensure consistency between financial challenges and the capabilities of the chosen tool.”
What skills are vital in this type of Functional Specifications Assistance engagement?
It is essential to have a thorough understanding of the tools and how they work. In most projects, the technical aspect is crucial; you need to be able to do it in order to design it.
This practical expertise allows you to anticipate the limitations of the tool, understand the functional impacts, and correctly translate business needs. This dual technical and functional expertise makes Functional Specifications Assistance truly useful in an EPM project.
What makes Primexis’ approach stand out?
We carry out both implementation engagements and Functional Specifications Assistance engagements. This dual operational and functional expertise gives us a concrete understanding of the capabilities of EPM solutions.
It also allows us to structure projects pragmatically, taking the needs on the ground into consideration. This is what makes the systems more understandable, more robust, and easier for users to adopt.
“Thanks to our dual functional and technical expertise, we anticipate the limitations of the tool to ensure a sustainable solution.”
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Are you preparing for migration, a change of tools, or a regulatory development? Check out our Functional Specifications Assistance expertise here to structure and secure your project.
Our consultants can assist you with your EPM projects: scoping, specifications, acceptance testing, historical data recovery, and change management.
Contact our expert:
Yann GERVY
Senior Manager – Functional Specifications Assistance specialist – Group Information Systems
yann.gervy@primexis.fr
Nadege RAVIART MEUNIER
Group Information Systems Partner
nadege.raviart-meunier@primexis.fr
