Monday Jul 14, 2014

Managing Hierarchies in Financial Applications with DRM

Hierarchies and related links are fundamental to using financial, and indeed many other applications, for example:

  • When a new Chart of accounts is designed, linking an account to its parent is key for future aggregation of data.
  • When legal entities have to be sorted, hierarchies can be built according to dimensions such as geography or organizations.
  • In a General Ledger, every accounting flexible field is a potential analytical dimension.
  • Respecting relationships is also very important when reorganizing sales territories taking into account geography dimension, human resources, client or product information.

That’s why partners have a great opportunity to help their clients to better manage these hierarchies and relationships which are often used in EPM (Enterprise performance management) and Business intelligence. Financial Applications share entire or partial hierarchies with different levels of detail, different points of view. So, “Financial MDM” helps companies to be more efficient because hierarchies and their relationships are managed in a single place. Every modification impacts all applications at the same time. This increases consistency and data quality among all hierarchies.

Financial MDM has got the same DNA as other MDM domains and is a key tool to help partners implement new systems, upgrades and migrations for their clients because it accelerates deployment based on these coordinated and validated hierarchies. Financial MDM manages specific types of master data, such as:

  • Charts of accounts: consolidated, corporate or local. They can be different depending on application type. For instance, granularity is not the same for actual accounting or forecasting. They can be designed to meet different regulatory requirements: local, IFRS, GRI sustainability reporting or Solvency II in the insurance industry
  • Legal entities including different dimensions: geography, activities
  • Organizational dimensions : departments, business units, cost and profit centers
  • Analysis dimensions: using general ledger accounting flexible fields such as sales channels or projects
  • Reference data: time, currencies, taxes.

Financial master data needs to be quickly and easily adapted to business changes at the fast pace of business. Financial MDM is essential not only for minor modifications in day to day business, when creating a new cost centre or modifying an existing attribute for a legal entity, but also when making major changes such as mergers, acquisitions, reorganizations or regulatory changes.

Flexibility is the key to allow business users to easily make their own updates, plus these changes have to be part of a data governance process. A workflow is required to define roles and responsibilities.

Five reasons to invest in a Financial MDM

  1. Empower financial business users
  2. Ensure consistency in business hierarchies and related links
  3. Link local needs to corporate standards and consolidate all lines of business
  4. Accelerate Mergers & Acquisitions
  5. Analyze your master data across heterogeneous environments

See more at:

Tuesday Sep 03, 2013

New Version of Hyperion Financial Data Quality Management

We are pleased to announce the immediate general availability of Oracle Hyperion Financial Data Quality Management, Enterprise Edition (FDMEE) 11.1.2.3 Patch Set Update 1 (PSU1 – 11.1.2.3.100)  available on “My Oracle Support” for partners and customers at http://support.oracle.com (Search for patch 16681929).

This is a significant release for the product because it now provides scripting that allows you to extend and customize the product for implementation specific business rules related to the processing of source data.  A high level description of the new features is provided below, with a detailed description provided in the user documentation.

Scripting

  • Jython based import, mapping and event scripting
  • Visual Basic event scripting

Financial Management

  • Support for journal loading via excel templates
  • Additional application options
  • New intersection check reports

Custom Target Applications

  • Provides the ability to export data from FDMEE into a user defined flat file format
  • Replaces the data mart and tax adapter features from the legacy FDM product

Additional Features

  • File append and replace methods
  • Load data and mapping rules from an excel formatted file.  Prior releases only supported files in csv formats.
  • Execution of custom calculation scripts for Planning or Essbase
  • Open Batches
  • Batch report execution

Thursday Oct 13, 2011

“CFO Central” and “EPM Virtual Briefing Center”

There is some great material here for you to use and point your customers towards.  The “CFO Central” portal ( http://www.oracle.com/cfo ) has been exclusively conceived for CFOs to address their top challenges, priorities and strategies, with:

  • Videos “cfo-2-cfo” and interviews with their peers,
  • Case studies of Oracle deployments by the CFOs,
  • Executive CFO events delivered presentations,
  • Latest materials (white papers, analyst reports, etc.)

And the “EPM Virtual Briefing Center” (Register here  ) is a collaborative portal dedicated to both EPM (Enterprise Performance Management) and GRC (Governance, Risk and Compliance) – all designed to help users on their journey to Management Excellence.  Here you can share and download collateral on best practices, value propositions, demonstrations, White papers, brochures, podcasts, Customer success stories, references and videos.

Monday Oct 10, 2011

Financial Management Analytics for Hyperion HFM is now available

Oracle Financial Management Analytics is now available and is a new addition to Oracle's financial close solutions that integrate with Oracle Hyperion Financial Close Management and Oracle Hyperion Financial Management to provide business critical information about the financial close process and financial results.

Using Oracle Business Intelligence Enterprise Edition (OBI EE) technology, it leverages investments already made in Oracle Hyperion Financial Close Suite modules to provide senior finance management with unified insight into the current position of the financial close process as well as the financial results.  Essentially, Financial Management Analytics is a pre-built BI-Application providing any Hyperion HFM customer with a simple way to include HFM information into dashboards that can be widely deployed, and can be combined with information from many others sources via OBI EE.

Products to be licensed separately with Financial Management Analytics (prerequisites), include Oracle Business Intelligence Suite Enterprise Edition Plus or Oracle Business Intelligence Foundation Suite AND Hyperion Financial Management Plus or Hyperion Financial Close Management or Hyperion Financial Close Suite.

See here for more information : Oracle Financial Management Analytics

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