Company Name Prophix Story

Wellcome Trust – Prophix project summary

Wellcome Trust Prophix project summary

Background

Wellcome Trust are a global charitable foundation dedicated to achieving extraordinary improvements in human and animal health. The charity supports the brightest minds in biomedical research and the medical humanities. Their breadth of support includes public engagement, education and the application of research to improve health.

Wellcome Trust was established in 1936 under the terms of Sir Henry Wellcome’s will, owning the entire share capital of Wellcome Foundation Ltd. Sir Henry Wellcome's will, drawn up in 1932, came into effect to create the Wellcome Trust as an independent charity. Five nominated Trustees become the sole shareholders of the Wellcome Foundation Ltd, the private company created by Sir Henry in 1925 as part pharmaceutical company, part philanthropic organisation. The Trustees are George Lyall (Chairman), Lancelot Bullock, Martin Price, Sir Henry Hallett Dale and Professor Thomas Renton Elliott. Their expertise spans business, law and medical science.

By 1937, the Trustees were already receiving appeals for grants. A list of 21 included the Chelsea Hospital for Women, the People's League of Health, the Society for the Prevention of Asphyxial Death, the Tower Hill Improvement, the Imperial College of Tropical Agriculture, and the University of Sydney. There is no record of whether any grants were awarded at this time. In 1937, the Trustees began work with £73 048 in their deposit account and £543 in their current account. However, they discovered over the next few years that, with substantial death duties and lawyers' fees to pay in order to deal with the complex will, they had little money to give away. They appoint Mr J (Jack) E K Clarke of Viney, Price and Goodyear (Sir Henry Wellcome's accountants) as Secretary to the Trustees. As sole shareholders in the company, they are in the peculiar position of being responsible for its efficient running since the Trust is run from its profits. Sir Henry ran his company without a Board of Directors, which makes this very difficult.

Over the first 20 years, the Trust's charitable spend was only £1.2 million. World War II, and a lack of effective direction, left the Wellcome Foundation in poor health. The Trustees had to intervene in the late 1940s, but by the mid-1950s, the company’s profits are recovering. In the 1950s, the Trust funded areas including tropical and veterinary medicine, pharmacy and pharmacology, and the history of medicine. The majority of funds (65 per cent) provided laboratory buildings and equipment, museums and libraries. The aim is to support talented scientists in universities rather than industry. The Trust funds globally, reflecting the global reach of the company. Innovative travel grants and fellowships support UK scientists travelling abroad, and overseas researchers visiting the UK.

1 Wellcome Trust – Prophix project summary

By 2008/09, the Trust's annual spend had risen to over £600 million. Moving forward, it has continued to foster and support outstanding biomedical research in the UK and overseas - retaining its long-term outlook and backing the brightest researchers with the best ideas. In February 2008, the Trust announced a one-off allocation of £500 million, over and above its regular annual funding, to support major biomedical projects across the globe over the coming years. The Trust has worked actively to ensure it remains at the cutting edge of research - utilising Strategic Awards to support major research and training programmes, and launching new funding initiatives to stimulate research in priority areas such as genome-wide association studies, medical engineering and neuro-degenerative disorders. The Trust is continuing to make a major contribution to the development of the UK science base - supporting outstanding researchers throughout their careers and funding key research resources and capital infrastructure. Over the coming years, the Trust will take forward a major partnership with the Medical Research Council, Cancer Research UK and University College London to construct the UK Centre for Medical Research and Innovation, a new world-class UK research and innovation facility. Continued Trust support has ensured that the Wellcome Trust Sanger Institute is firmly established as one of the world's leading genomics research centres.

The Institute's strategy has evolved to focus on large-scale studies of genomic variation and health, and it continues to play a pivotal role in major international initiatives, such as the 1000 Genomes Project and International Cancer Genome Consortium. Over the first part of the decade, the Trust has initiated a significant expansion of its international work, which it intends to build upon further over the years ahead - including through a major partnership with the Indian Government to support current and future research leaders in the country. The Trust is also actively expanding its portfolio of technology transfer activities - developing major new strategic projects to develop innovative new products and technologies for health benefit. The Trust is continuing to develop a range of activities to inform, excite and engage the public in biomedical science. The Trust's former headquarters at 183 Euston Road has been reborn as Wellcome Collection, which was opened in June 2007 as a new public venue exploring the connections between medicine, life and art. It is also developing its work to support science education - including through Project Enthuse - a £30 million partnership with Government and industry to support continuing professional development of science teachers.

Basic characteristics

Type Details Industry 96090 - Other service activities not elsewhere classified Operating since 1937 Location – head office THE WELLCOME TRUST LIMITED GIBBS BUILDING 215 EUSTON ROAD LONDON NW1 2BE Annual revenue 2013 – 950,456 Number of employees 10 ERP Agresso Website www.wellcome.ac.uk Prophix champion (on the customer side) Fiona Bangor Jones (Financial Controller) Key customer contacts and relationship Fiona Bangor Jones (Financial Controller) – with Prophix [email protected]

Rob Jones (Project Manager) – [email protected]

Ed Hall (Group Finance Analyst)- [email protected]

Cass Dawson (Management Accountant) [email protected]

Life cycle ☒ New implementation Implementation date: 25th June 2014 ☐ Preexisting customer Original implementation date: ______☐ Existing customer, upgrading Original implementation date: ______

Business issues / pain points

The Wellcome Trust has emphasised the following overall objectives in migrating to a new system:

 To reduce reliance on individuals who hold detailed knowledge.

 To produce enhanced management information and analysis.

 To reduce the amount of manual input required to generate analysis.

 To create a process where input data is controlled, validated and fully auditable.

 To provide Trust management and auditors with additional comfort as to the integrity of the outputs.

 To generate internal processing efficiencies to save time

 To reduce reliance on Microsoft Excel for processing

Prophix solution Solution overview Describe how our software was used to address the business challenge(s). Solutions built Capabilities used ☐ Budgeting ☒ Automation ☐ Forecasting ☐ Prophix Mobile ☐ Reporting ☒ Data integration ☐ Strategic planning ☒ Business modeling ☒ Financial consolidation ☒ Microsoft platform integration ☒ Analysis ☒ Role-based security ☐ Profitability analysis ☒ Collaboration ☐ Personnel planning ☐ Flexible deployment ☐ Project planning ☒ Ad hoc reporting and visualization ☐ Revenue planning ☐ Capital expenditures planning ☐ Reporting and analytics (dashboards and scorecards)

Unique solutions

The Prophix system illustrated above will have 3 cubes upon completion of the implementation. All three will be set up to operate on an October to September fiscal year.

The Analysis Cube has the following features:

 Cube for reporting the actuals and plan data by the Agresso structures

 Will provide full slice and dice and analysis of the Actuals data, as well as Budget YTD, Forecast YTD, Forecast 12 month, budget 12 month data where available at the cost centre/account number level in Agresso

 Will use the Reports Tree and the Accounts Tree Structures from Agresso as well as the Organisation structure.

 Data sources: Agresso (inclusive of actual and Plan data) via Prophix Staging Database.

 Headcount & Floor Space data to be imported at the Department level via dummy members. Data can be imported and mapped into the dummy members or Input directly into Prophix.

The Group Cube has the following features:

 Cube for reporting data by the Group Reporting structure – This is a combination of Cost Centres and Accounts

 Data will be mapped into the Reporting combinations from Agresso for companies in W3, W4 and C1

 Data Entry templates will be used to collect data for the remaining subsidiaries, data will be entered against the reporting combination required. If the required combination is a parent account, the first leaf level account underneath it will be used or a dummy member added.

 Group Adjustments will be made in this cube using either Financial Controller or a Process depending on the Adjustment type.

 Group Adjustments can be made to any editable balance within the Group Accounts structure/dimension

 Formatted reports will be produced such as the Financial Plan and the Charitable Cash Flow, in addition to the Group SOFA, BS and charitable cashflow

 Reporting currently occurs in periods 2,3,6,9 and twice in period 12, although will be possible for any period YTD.

 Data sources: Agresso via Prophix Staging Database, Input via data entry templates, Historical plans, non-Financial Info e.g. Headcount from Excel

The Statutory Cube has the following features:

 Cube for reporting data by the Statutory Reporting structure – This is a combination of Cost Centres and Accounts. The mapping differs from the Group Structure

 Data will be mapped into the Reporting combinations from Agresso for companies in W3, W4 and C1

 Data Entry templates will be used to collect data for the remaining subsidiaries, data will be entered against the reporting combination required. If the required combination is a parent account, the first leaf level account underneath it will be used or a dummy member added.

 Statutory Adjustments will be made in this cube using regular journals in Financial Controller.

 Statutory Adjustments can be made to any editable balance within the Statutory Accounts structure/dimension

 Formatted reports will be produced such as the Group SOFA, Group BS and the Group CF.

 Outputs also to be available in the Excel Add in for additional analysis or to be linked to Word documents

 Data sources: Agresso via Prophix Staging Database, Input via data entry templates, Excel, Feed from the Analysis Cube for the results of the Pension allocation