Our earlier blog focused on the key learnings from ValuD’s 10.5.3 implementations. In the next couple of blogs, we list our recommendations for each stage of the implementation life cycle. In this post, we focus on data readiness, Data Migration and the Design phases.

Data Readiness
Understanding the data is the first step in any implementation. The primary goal should be to view your sample data in Tririga so you understand how the data will be presented in TRIRIGA.

Understanding the data does not only mean identifying the various data sources. It also includes the following aspects:
1. Look back period
You will need at least two years lease data prior to adoption to be present in the system for TRIRIGA to produce accurate disclosure reports. You can choose to include more history, but the Operating and Finance schedules will only display data from the start of the two year look back period.

2. Initial Liability Carryover Balance
This refers to the starting liability at the start of the two year look back period and needs to be determined by you. But this is applicable only when the partial history of the lease data is migrated. If you have the entire lease history, then TRIRIGA will calculate the asset value.

3. Payment Line Items inclusion in Payment Schedules
Payment Schedules must include the Payment Line Items (PLI) as they are used to create the Fiscal Line Items, which, in turn, drive the Operating and Finance schedules. Ensure that the PLIs are included or TRIRIGA can calculate if the requisite data is provided. If TRIRIGA is being utilized only for accounting purposes, Payment Schedules will not be required.

Data Migration Process
The next step is to migrate the data into the TRIRIGA application. TRIRIGA delivers the necessary tools to migrate your data:

• Integration Object for low (from a flat file) and high volume (from a database) data migration
• Standalone Data Connect for complex data migration
  • Extreme volume needing parallel batch processing
  • Complete automation of the data migration process so as to ensure continuous unmanned data migration

ValuD recommends the usage of its proprietary Solution Accelerators and pre-built data migration utilities to quicken your data migration process.

Design Process: ValuD recommends that the design process be split and different workshops be conducted for business and accounting. Trying to combine both of them together might prove counter-productive during UAT as the accounting issues will differ from client to client. It is better to be pro-active during design rather than reactive during UAT.

General Workshop: This is usually business-centric and helps you understand how your business processes will work in TRIRIGA. The goal here is to use the OOTB application as much as possible and help you learn how TRIRIGA will handle the lease data.

Accounting Workshop: Use this workshop to analyze the various lease scenarios. Based on the lease scenarios, TRIRIGA will handle the accounting process. Ensure that you provide enough time for the accounting group to validate the numbers provided by TRIRIGA. Also you need to stay within the OOTB processes as much as possible so that you can make use of the complex accounting processes delivered by TRIRIGA in an as-is basis.

Integration Workshop: Focus on the OOTB-provided Journal Entries and Payables to keep the scope down during this workshop. Our future blogs will list down the process to pull the data for creating these journal entries.

Reporting Workshop: Utilize OOTB reports to the fullest. Limit your report changes to just the TRIRIGA reports and use the ValuD provided BIRT reports as-is.

Our next blog will list ValuD’s recommendations during the Build and GL Integration steps. For more information on ValuD’s IBM TRIRIGA implementation best practices, watch our webinar.

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