What's New in the 2006 edition?
Visit us on the Web at http://resources.profitstar.com/faqs/FAQs.htm#New_FAQs/faqnew.html to view multimedia tutorials that describe and demonstrate several of the enhancements found in the 2006 edition.
References to the “2006 edition” include enhancements introduced in 2006, 2006a, 2006b, and 2006c. Use the following links to find the changes affecting particular products or functional areas:
Report Central (2006) below
Report Writer (2006, 2006b, & 2006c) on page 2
Global Insight (2006) on page 5
Other Changes (2006, 2006a, & 2006b) on page 5
Product Profitability (2006) on page 6
Predefined Report Packets (2006) on page 7
Budget Manager (2006a) on page 8
PROFITstar Portfolio (2006b) on page 10
Report Central—a new Reports menu option—contains all the functionality previously found in Multiple Reporting Groups, with an easier to use Microsoft® Windows® Explorer look and feel. The new design uses a tree-view structure to display all reports, graphs, graph groups, and report groups. Drag and drop functionality is available for adding output to reporting groups.
Creating a New Multiple Reporting Group (2006)
§ Report Central provides three ways to create a new group:
v File > New Group.
v New Group right-click menu option.
v New Group speedbutton.
§ You must be focused on the Multiple Reporting Groups area of the left panel in order to create a new group.
Adding Reports to a Multiple Reporting Group (2006)
§ Drag and Drop: To use this method, first choose the appropriate report or graph. (Report Wizard is broken down further by report type.) Individual reports or graphs that are available will appear in the panel to the right. Next, select the desired report or graph, and drag it to the appropriate reporting group. You can also drag and drop items from one Multiple Reporting Group to another. Dragging and dropping items functions just like copying and pasting.
§ Cut, Copy, and Paste:
v Cut allows you to remove a report or graph from one reporting group so you can paste it into another reporting group.
v Copy allows you to copy a report or graph from a report or graph type, so you can paste it into a reporting group. This can also be done between reporting groups.
§ Add Button: This provides functionality similar to the previous way of adding reports and graphs to reporting groups. This option is also available from the right-click menu.
Single PDF File (2006)
§ Single PDF File per Organization: Use this option when you want to generate a separate PDF file—each containing all of the specified reports—for every selected organization.
§ Single PDF File (all orgs.): Use this option when you want to generate a single PDF file, containing all of the specified reports, grouped by selected organizations.
Email PDF File (2006)
§ Single PDF File per Organization: Use this option when you want to email a separate PDF file—each containing all of the specified reports—for every selected organization.
§ Single PDF File (all orgs.): Use this option when you want to email a single PDF file, containing all of the specified reports, grouped by selected organizations.
(The Report Central enhancements are available in both PROFITstar and PROFITability.)
The functionality of the Report Writer has been enhanced. Changes introduced in the 2006 edition include:
Performance Improvements (2006c.48)
Significant Report Writer performance improvements were introduced in the 2006c.48 release. It now takes less time to open, print, and close most reports. These benefits are also experienced when Report Writer reports are generated from Report Central.
Utilize Limited Undo Functionality in the Report Writer Grid (2006)
§ Use this option to roll back up to 10 unsaved changes in the Report Writer grid.
§ The Undo speedbutton or the Edit menu option can be used for this purpose.
§ The speedbutton and the menu option are only enabled when something “undoable” exists in the grid.
§ At this time, it is not possible to undo all Report Writer functionality. If the user’s last action is not undoable, clicking the Undo button will return the user to a state prior to the last undoable action.
Select Custom Time Frames in Quick Fill Matrix Setup (2006)
In the Quick Fill Setup dialog, Custom time frame selection is now available as the last item in the Row Titles or Column Headers radio button lists—whenever Time Frame is selected as the defining data category.
Create Automatic Backups of Report Writer Reports (2006)
Select this Report Writer > Tools > Options item to have the system create a fail-safe copy of the current report in the event that the PROFITstar or PROFITability programs close unexpectedly—such as during a power failure.
Important things to know about this option include:
§ Once selected, this setting applies to all Report Writer reports—per computer.
§ The active report must be assigned a name and saved once before this option will create a fail-safe copy.
§ No backup copy of a report is retained if changes to the report are saved or cancelled, under normal conditions, by the user (since the original file would be more current or the two files would be the same).
§ If the program in which you are working is abnormally terminated, after the first back up interval (5 minutes, etc.), a backup file for the affected report is stored in the ReprtWtr folder, under the root data directory. The next time that someone attempts to open the affected report, the user will be given the option of retaining either the recovered or the last-saved version of the report.
Let Manual Calculations Reduce the Time it takes to Create or Modify a Report (2006)
Also from Report Writer > Tools > Options, select the Automatic option if you want to see the most current numbers in the Report Writer grid. When the Report Writer calculations are automatic, values are refreshed every time you move off of a cell or scroll down the page.
For large reports or reports that pull in values from the Maturity/Repricing module, for example, performance in the grid will be improved by selecting the Manual option. This setting allows you to modify a report without having the data recalculated after every change. Whenever you want to refresh the report, just click Edit > Calculate Now or press the F9 button on your keyboard. This setting is saved individually for each Report Writer report and is retained even when a report is e-mailed to another user.
Note: Report Writer reports are always recalculated when they are previewed, exported, or printed, regardless of the Calculations setting.
Select Pre-Allocated Databank Values (2006)
Previously, you could not specify a Data Value for Databank accounts in PROFITability, using the Formula Assistant or Quick Data Function. Now either Pre- or Post-Allocated values can be requested.
Navigation Enhancements (2006)
§ Right-Click to Establish Cell Focus and Display the Right-Click Menu:
v The selected right-click menu option will be applied to the cell where the right-click was performed.
§ Tabbing:
v The Tab key now moves the cell selection to the right of the current cell.
§ Arrows:
v The Arrow keys move the cell selection in the appropriate direction from the current cell.
Use Dimensional Views in Report Writer (2006)
§ Dimensional View Groups can be used for both titles and for data. (Only Dimensional View Groups—not the Dimensional Views themselves—can be selected.)
§ Dimensional views can also be referenced in data formulas. (The models selected must match.)
§ Since Dimensional Views are model-specific, you must choose a specific model from the Model list before Dimensional Views will show up in the Organization or Product lists. /
Copying Report Writer Data to other Applications (2006b)
It is now possible to copy blocks of information from the Report Writer grid and paste it into other applications. This information is copied as tab delimited text—no formulas are included.
Information from other applications, such as Microsoft® Excel, can also be copied into Report Writer.
(All Report Writer enhancements—with the exception of the Select Pre-Allocated Databank Values item—are available in both PROFITstar and PROFITability.)
Importing Global Insight Data (2006)
In the 2006 edition, users can now import projected key index data (provided by Global Insight) directly into projected Databank time frames.
A new Tools menu option makes it possible for subscribers to the Global Insight Rate Forecasting service to load a large number of monthly key rates, and quarterly macroeconomic indicators, from a .csv file into the current model’s projection. With three key rate files available—containing a baseline, a high interest rate, and a low interest rate scenario—users can create a projection with each file, in three different What-Ifs.
(The Global Insight enhancement is available in both PROFITstar and PROFITability.)
Total Risk Evaluation Report (2006)
Two changes have been made to the first item in the LIQUIDITY RISK section of the Total Risk Evaluation (TRE) report. This row has been renamed from “Net Loans to Total Deposits” to “Loans to Deposits.” In addition, the formula used to calculate this item has been changed to match the formula for the Loans to Deposits ratio—AV(SpCode(15)) / AV(SpCode(19)). Previously the formula was: AV(SpCode(15)) / ME(SpCode(19)).
Now TRE report results can be tied to the Ratios report.
(This change is only available in PROFITstar.)
Instrument Level Detail Performance (2006a)
For clients who are using the Instrument Level Detail functionality in PROFITstar, the download process is now significantly faster.
Including or Excluding the Effects of Prepayments (2006b)
A new column—Prepayment Assumptions—now appears on the FTP Setup screen. When the Matched Funded method is active, fixed-rate accounts with a Rate Account setting of Yield Curve have the option of including or excluding the effect of prepayments when calculating the account’s weighted average life.
(This change is only available in PROFITability.)
Utilizing Organizations within the Product Dimension (2006)
§ You can now specify a specific organization, or “All Organizations,” to be the Source Unit in Allocation Rules Setup. This eliminates the need to set up an artificial, organization-assigned product (such as having to assign a HumRes organization to a “Human Resources” product).
§ In addition, PROFITability now lets you combine organizations within the Product dimension. For example, you could combine all branches into one organization called Branches, and then select this new organization as the Source Unit for subsequent allocation rules.
§ The work of grouping your organizational units into Combined Organizations is done in the Product Setup screen.
Using Work Groups within the Product Dimension (2006)
§ A Work Group is an identifiable team of employees, performing similar activities. Typically, the respective expenses are combined with other work group expenses and reported at the organizational level. For example, Tellers, Personal Bankers, and Branch Managers are all Work Groups with expenses that are reported at the Branch organizational level.
§ Since a Work Group can be selected as an allocation rule’s Source Unit, this feature can be used to more accurately allocate compensation expense to the unique activities that each Work Group performs. This is accomplished, first by allocating compensation to the respective Work Groups, and then allocating these expenses to the activities and products that they support.
§ Work Groups are created in the Product Setup screen.
Adding a New Category Code (2006)
§ Overhead—a new Category code—is available for Organization and Product Non-Interest Inc/Exp Allocation rules. The Category selections now listed are Direct Income/Expense, Indirect Income/Expense, or Overhead.
§ This will be used primarily for responsibility reporting. Branch Managers may be held accountable for Income after Direct Expenses while Line of Business Managers may be held accountable for Income after Direct & Indirect Expenses.
Utilizing a New User-Defined Classification Code (2006)
§ In the Product dimension, each Non-Interest Income/Expense allocation rule now has a new Classification code that can be user defined. You can utilize this feature as an additional way to break out allocations for reporting purposes, similar to the Direct/Indirect/Overhead Category feature. The default fields are Net Margin, Assigned, Servicing, Production, and Other. Net Margin and Assigned are hard-coded for reporting purposes and are not editable. The Assigned classification is applied whenever an account is assigned directly to a product. Net Margin is applied for interest income/expense and funds credit/charge. You may also want to select Net Margin when allocating Loan Loss Provisions, for reporting purposes.
§ In addition, you now have the capability to report on the cost to produce a loan versus the cost to service the loan. Activities not related directly to production or servicing should be coded as Other. Examples of this would be Branch Manager activities or miscellaneous overhead activities.
§ The Servicing, Production, and Other classification codes can be modified by opening Product Allocation Classification Setup, from Setup > Allocations > Product Allocation Classification. You can also create more user-defined codes, if needed.
§ During the conversion to 2006, the Servicing classification code will automatically be applied to all current Non-Interest Income/Expense allocations. Following the conversion, you can change this setting for any of the affected rules.
§ A new Allocation Report—Contribution Variance—utilizes Classification codes as it summarizes the profitability components for each product and calculates an annualized return on assigned capital for comparison with other products.
Making Sense of it all with New Reports (2006)
§ Allocations / Unit Classification Summary – This report is valid only when Product Allocations have been performed. The report summarizes product unit income/expense by classification, compared to a rolling 12-month average.
§ Allocations / Contribution Variance – This report compares the current month against one additional monthly time frame. It summarizes the profitability components for each product and calculates an annualized return on assigned capital for comparison with other products.