Tuesday May 28, 2013

Unlocking Business Potential with Enterprise Performance Management

As we look at the enterprise performance management (EPM) market, it’s clear that the fundamentals of EPM haven’t changed in the last 5 – 10 years.  EPM is still about linking strategies to plans and execution, monitoring financial and operational results against goals, and applying analytics to understand key trends, make better decisions and drive enterprise-wide performance.

What has changed is the world that we operate in. Although economic growth is slow, business cycles are faster so planning and forecasting needs to be more frequent.  There’s more data available to analyze and leverage for planning and reporting – both internally and externally generated.  Stakeholders have higher expectations.  That includes external stakeholders who want more quantitative and qualitative disclosures about the organizations they are investing in, as well as internal management stakeholders who are demanding more frequent insights into financial and operating results.  Even the workforce has changed, for instance Millennials (those born between 1980 and 2000) were raised on technology and have less patience for systems that are outdated or don’t respond quickly.  In addition, technology is changing with the shift to Cloud, Mobile and Social computing.  These new technology enablers that are available today create many opportunities to drive innovation and improve efficiency if leveraged correctly.  

So while today’s market presents a number of challenges to achieving the goals of CEOs and CFOs, there are also opportunities to unlock the potential of their organizations to drive profitable growth. These include:

-
Eliminating or investing more in under-performing products
- Putting more focus on under-served customer segments
- Better utilizing existing staff and capacity
- Putting the excess cash on the balance sheet to work – investing in new markets, products, and services
- Creating more efficient business processes and reducing IT complexity to reduce costs

Many organizations are finding that an integrated EPM platform can help them break down the barriers to success, linking business goals to results and unlocking business potential.  With a world class EPM platform organizations can deliver the desired outcomes needed to succeed in today’s market; Aligned Objectives, Accurate Forecasts, Confident Close and a more Accountable Enterprise.  Plus they can address the needs of Finance, IT, as well as line of business managers to ensure more consistent decision-making.

To learn more about how an integrated EPM platform can help your organization unlock its business potential,
download our new white paper:  Enterprise Performance Management – Unlocking Business Potential. 

Also, learn how the latest release of Oracle Hyperion EPM helps organizations unlock their business potential, here’s a link to the
press release.

And for more general information about Oracle Hyperion EPM please go to www.oracle.com/epm.



Thursday May 23, 2013

The CFO as Catalyst for Change - Part 2


In Part 1 of this series, I talked about some of the factors that are changing the role of the CFO.  But exactly how much has the CFO role changed and what’s in store for the future? To shed more light on the subject, Oracle partnered with Accenture to conduct a global research study. The study "The CFO as Catalyst for Change", includes insights from 930 CFOs from organizations of varying sizes and from different continents. In other words, it's quite comprehensive.

The study highlights the evolution of the CFO’s role from financial overseer to corporate strategist and change agent. Specifically, there are a few key takeaways I wanted to highlight:

The CFO role is becoming more strategic and influential:

- More than 70% of respondents said their overall level of strategic influence has increased over the past three years
- Respondents said their role is increasing in setting and determining strategy (65%) and business transformation (47%).

Internal and external challenges are hindering CFOs from reaching their full strategic potential:

- Only 33% of CFOs surveyed play a leading role in strategy formulation; an even smaller proportion (24%) play a leading role in strategy execution
- The challenging economic environment was identified as the largest barrier (37%), followed by a shortage of time (35%) and lack of integration between the finance function and other parts of the business (31%).

CFOs recognize technology is critical to helping:

- 84% of respondents said co-operation between the finance leader and CIO has increased during the past three years.
- 79% listed access to information as a key factor to making their organization more agile
- 57% of respondents viewed investments in disruptive technology, such as big data and analytics, as key source of competitive advantage.

Maintenance and integration issues are still the biggest technology concerns for CFOs:

- Cost of maintenance, cost of integration and lack of integration between systems were listed as the top three concerns of CFO respondents.

For more information, you can find the press release and links to the full report here.  If you’d like to hear the findings discussed in more detail make sure to tune into the CFO.com webcast on May 30th at 12PM EDT.  More information on the webcast and registration is available here.








Wednesday May 08, 2013

The CFO as Catalyst for Change - Part 1

In today’s hyper-competitive global economy, senior executives often have to wear more than one hat to help their organizations reach their full potential.   A good example is the CFO. With the constant need to drive innovation and growth, coupled with their more traditional financial responsibilities like managing costs, CFOs are under increasing pressure to take on an even broader role within their organizations. This evolving role has seen CFOs become more valued strategic and commercial partners, but has not reduced the challenges they face. From working with customers in nearly every industry and geography, a few of the challenges CFOs currently face have become clear, including:


  • The operating environment – While the economy is recovering, CFOs are still facing a low-growth external environment. The need to focus on cost management and efficiency has, in many cases, meant the difference between survival and extinction. Yet, the CFO’s role has broadened to include playing a greater role in technology and operations. Therefore, lack of time and role overstretch are key problems.

  • Skills and capabilities – As the role of the CFO expands, so must the CFO skill set. This has presented a problem for organizations with finding the right talent and capabilities that move beyond the traditional finance skills. Current CFOs also need to expand their own capabilities – particularly with technology. 

  • Technology – The CFO's role in IT investment is more apparent than ever. According to Gartner, 45 percent of IT leaders report to the CFO…that’s more than report to any other executive. While technological innovation such as big data, business analytics, cloud, mobile and social are a priority for the majority of organizations, most financial executives are unable to evaluate IT investments, making it harder for them to show the fruits of their labors. 

Despite these challenges, I know many CFOs that are taking a more strategic role, but they are also the first to admit that there is more work to be done. Over the next few months we will explore this topic in more depth and discuss how technology and other factors can help CFOs become catalysts for change and unlock the true potential within organizations around the world.

For more information about the role of the CFO and best practices in dealing with today's Finance challenges, check out Oracle CFO Central at www.oracle.com/cfo.







Friday Apr 26, 2013

EPM and ERP - Better Together

I recently had the pleasure to attend and present at the Collaborate 2013 user conference in Denver, Colorado.  This event is run by three of the Oracle user groups – OAUG, IOUG and Quest and attracted over 5000 attendees this year.  The conference included hundreds of sessions covering Oracle Applications, Database, and Middleware which were delivered by Oracle customers, partners and staff members.  The EPM/BI/Data Warehousing track itself had over 130 sessions, most of which were delivered by customers and partners, and which were very-well attended.  Conference attendees and members of the Oracle user groups can see the session list and gain access to the presentation content at this link:  http://collaborate.oaug.org/education/search.

One of the highlights of the conference was the RadiOAUG live radio show that was broadcast from the exhibit hall during the conference.  This was pretty interesting – as two professional radio broadcasters interviewed Oracle executives, customers and partners on a variety of topics that were in focus for the conference.    I was interviewed on the topic of “ERP and EPM – Better Together”. 




During this short interview I talked about the progress Oracle has made in integrating the Hyperion EPM Applications with Oracle E-Business Suite, PeopleSoft, JD Edwards, Fusion and SAP Financials.  I highlighted 3 specific areas of integration that Oracle has built out -- data, metadata, and process integration.  We also discussed how EPM can help with ERP upgrades, through managing metadata like the Chart of Accounts, and providing a consistent planning and reporting environment while the systems are being upgraded on the back end.  I finished by talking about the role our EPM applications can play in helping ERP customers extend their investments and improve their management processes such as Strategy Management, Planning and Forecasting, Financial Close and Reporting as well as Profitability and Cost Management.  Here’s a link to a replay of my RadiOAUG interview:  JohnO'Rourke.mp3.

Here’s a link to all of the RadiOAUG programs that were recorded at Collaborate 2013: http://remote1.businessradiox.com/

For more information about Oracle’s Hyperion EPM Applications please go to www.oracle.com/epm


 

Tuesday Apr 16, 2013

Enrich Your Scorecard with Metadata That Actually Matters

Oracle has released another interesting Podcast – this one is about how Oracle Scorecard and Strategy Management can help you drive behavioural change and improvement at the same time by using metadata that actually matters.

I had the pleasure of interviewing Jacques Vigeant, Product Strategy Director for Oracle Business Intelligence and Enterprise Performance Management and Oracle Scorecard and Strategy Management (or OSSM) about this subject.

After covering the basics about what a scorecard is and how it differs from a BI system or dashboards, we went on to discuss how scorecards should traverse dimensional structures, not just go up and down the hierarchies (like a typical BI system does) but also jump from one hierarchy to another to tie important data together.

Then we got to the heart of the Podcast – metadata that really matters. Jacques told us why accountability is so important – understanding WHO is under or over performing and HOW that performance relates back to the organizational strategy is key to pushing strategy forward. It is difficult to modify behavior if accountability is not included.

Jacques further explained that traditional BI metrics are typically focused around aggregating metadata along a single hierarchy. For example, we all know intuitively that a very high attrition rate in a company can impact the profitability of the company.  Traditional BI metadata focuses on aggregating metadata for HR attrition rates by HR dimensions, like attrition by department or region, but in this example, there is still a chasm between the HR data and financial data. Oracle Scorecard and Strategy Management (OSSM) enables you to draw relationships between your measures that are not necessarily based on aggregate tables or dimensional hierarchies – rather by business insight. You can literally drag and drop scorecard metrics on top of each other to get a better snapshot of what is going on. Jacques provided the following example, “Let’s say my attrition metric has an impact on my employee effectiveness metric, which has an impact on employee productivity, productivity has an impact on cost, and cost has an impact on profitability. You can drag all of these metrics on top of each other to get a whole company understanding of the impact of attrition rate on profitability”. This is new insight about the relationship. Once we understand this relationship, there is now a financial basis for management to ensure that the attrition rate stays within acceptable parameters – which can lead to a change in management behavior.

How does this type of insight help? Jacques explained that OSSM provides a set of metadata that is actually captured by the user using the system, providing new business insight. As more users use the system you are gaining more and more business insight. You get a network effect of new and better business insight as more people use the scorecard tool. This is not the same kind of metadata as traditional metadata that simply describes the existing dimensions.

Near the end of the Podcast Jacques also told us more about how the use of metadata that matters (including accountability) with financial objectives and data and operational metrics and data, can all roll up into the strategy tying everything together. The ability to keep the data current enables users to get a really good picture of the state of the strategy at any time, and which elements are most important to monitor to move the strategy forward. There are really great visual diagrams within OSSM that help you to literally see what is happening.

Jacques provided other interesting examples and useful information about metadata that actually matters in scorecards and how it can help encourage organizational change during the Podcast. I encourage you to listen to the entire interview.

To hear the entire Podcast click here.

For more information about Oracle Scorecard and Strategy Management (OSSM) click here.

Tuesday Mar 26, 2013

Best Practices in Profitability and Cost Management

I recently had the opportunity to run some roundtable discussions on best practices in profitability and cost management with financial executives attending the CFO CPM Conference in Philadelphia and CFO Rising East Conference in Orlando. The attendees represented companies in different industries ranging from manufacturing, to transportation, real estate, insurance, telecommunications and healthcare.

The premise for the roundtable discussion was this; For most organizations, aggressive cost-cutting and management were critical to remaining profitable while top line revenue was flat or shrinking during the recession. However, now many organizations taking a more “surgical” approach to profitability and cost management, by understanding which products, services, customers and channels are truly profitable and which ones are draining value from the business. In these roundtable sessions we discussed best practices in profitability and cost management, including how to accurately allocate revenue and costs to individual product lines, services, customer segments, locations, channels and other lines of business in order to improve decision-making. Here’s a summary of the feedback I received from attendees at these sessions:

At what level does your organization analyze and manage profitability? The answers to this question varied by industry and company: Insurance - region, state and products.  For example:


+ Real Estate Brokerage - offices, products
+ Healthcare Providers – hospitals, business units, departments, services, patients
+ Healthcare Insurance – products, markets, customers
+ Transportation/Freight – ship level, market (car rentals), customers
+ Manufacturing – location/site, products, major customers, projects
+ Retail – store level, regions
+ Telecommunications – business units, products


Are there any regulatory requirements driving detailed allocations of revenue and costs in your industry or organization? Based on the roundtables, the primary industries where there is a regulatory driver behind cost allocations and profitability analysis are Telecommunications, and Healthcare. (The latter as a result of the Healthcare Reform legislation and need to report on Medical Loss Ratios)

How are allocations performed to distribute revenue and costs down to the appropriate level in the business? What allocation techniques is your organization using? Here the participants indicated they are using a variety of techniques ranging from standard costing based on headcount, square footage, and revenue contribution to activity-based cost drivers and allocations for certain areas, such as customer service.

How frequently are detailed cost allocations performed? The frequency of allocations varied across individual companies. Some are performing this task on a quarterly basis, some semi-annually, one bi-weekly, and most of the participants are doing detailed allocations monthly. One company, in Transportation, mentioned they were doing this on a daily basis, running detailed P&Ls for each of their ships (pretty impressive).

What tools are used to perform the allocations and report on profitability at the line of business level? The tools used to perform detailed allocations, cost and profitability analysis included spreadsheets, ABC tools, multidimensional OLAP tools (i.e. Oracle Essbase), and in some cases, the general ledger system.

Who consumes the profitability reporting in your organization? The consumers of this information varied by industry and company, for example:


+ Insurance – product line managers, actuaries, regulators
+ Real Estate Brokerage – branch managers (with compensation linked)
+ Healthcare Providers – doctors, marketing campaign managers
+ Manufacturing – senior management, controllers, sales managers, business unit leaders, operations managers
+ Telecommunications – finance, business unit leaders


Is profitability reporting and management linked to the annual budgeting process? The answers to this question were more varied across the participants. Some leverage this information in their long-term strategic planning process, some link to their annual financial budget, and some are just starting to create a link to their planning processes.

Overall I was impressed with the feedback I received from participants in these sessions. Every company who participated was performing cost allocations and analyzing profitability at some level other than the corporate summary. Some were doing this at a very detailed level (i.e. daily ship P&L), and others at a more summarized level but looking to get more granular over time. I was also impressed with the frequency of profitability reporting, with most of the participants doing this on a monthly basis, some less frequently. And it was clear that the information being generated was actively shared and utilized beyond the finance organization to business unit leads, product managers, sales managers and other line of business decision-makers.

Areas for improvement that most participants identified included moving this process from spreadsheets to analytic tools and applications designed to automate and support detailed allocations and costing on a more frequent and repeatable basis. The good news here is that there are a number of packaged applications available in the market designed to support detailed allocations of revenue and costs. These applications include powerful reporting and analysis tools to provide insights and support improved decision-making regarding resource allocations, product/service mix, pricing, customer service and campaign strategies. Some of these are available as standalone solutions, while others are delivered within Enterprise Performance Management (EPM) application suites and provide seamless integration with EPM planning and reporting applications.

For more information about the profitability and cost management applications offered as part of Oracle’s EPM solutions please go to www.oracle.com/epm.


 

Monday Mar 25, 2013

Optimizing the Business as a Whole: The Case for Enterprise-Wide Planning

I recently interviewed David Jones, Director in PWC’s Consulting Services EPM Practice, and Simon Kenney a Senior EPM Consultant also from PWC, in a podcast about their successes in enterprise planning implementation and their research on finance effectiveness.


Initially, we discussed the research they have been conducting around planning and forecasting effectiveness; they call it the Finance Effectiveness Benchmark. For 2012, some issues were consistent with previous years. Planning, budgeting and forecasting is taking too long to pull together, it’s still too manual and requires too many resources or effort to get it done. But the interesting headline this year is that 80% of the respondents declared that the accuracy of their forecasts is critical to the running of their business, but only 45% said that their forecasts were actually reliable. This result is very concerning as this deficiency will prevent companies from making the right critical business decisions.


So what are the causes of this large deficiency?


According to Simon, a lack of integration across the entire planning process – front office to back office is a key issue. The business functions are just not engaged enough as the forecasting is mostly finance led. Sales and marketing are essential to any forecast, but they are often not engaged properly. Ultimately, those that generate the opportunities and the revenue need to be involved with the forecast.


No wonder the forecasts are not accurate!


How do companies to fix this deficiency and move to an integrated more inclusive world of forecasting? Simon suggested the following three steps are a good start.


Step 1: Identify why the forecasting process is failing (Is each function independently running their own processes? Is there a lack of clearly defined accountabilities?)


Step 2: Determine if/when the company is ready to integrate their processes. (Does it have the required level of sponsorship in place to move to an integrated planning process? Are the functions prepared for change?)


Step 3: Define a blue print or target “n” state (Design the integrated process. Determine which technology can help support the new integrated process)


These steps sound fairly simple, so I asked David what some of the more difficult or challenging things are that he sees when undertaking these steps with his customers. David indicated that there are challenges specific to each industry, but some common ones to watch for are:



  • Lack of executive sponsorship across functions (Very Key!) The drive to implement change must come from the top and be a collaborative process.

  • Miss-aligned performance measures that drive the wrong behaviour.

  • Too much granularity or unnecessary detail in the financial plan. Requests for more detail and more clarifications lengthens the process (without sufficient benefit) taking too much time and effort.


Simon shared his experience working with a large UK based motor car manufacturer – the challenges and success they had experienced.


Car manufacturers are a more traditional type of company with lots of legacy systems. Being so entrenched in these systems meant that they were not sure if they were really ready for a big bang approach to integrated planning and forecasting. They, therefore, decided to work on one area of the company at a time – in waves – so they could prove it was the right thing to do by demonstrating success and showing value to drive further change.


I asked David how real the benefits were that could be obtained through integrated planning and forecasting. David said that he sees real results in more accurate forecasts and a much better understanding of what goes on in the business, how it behaves, and the impact each business function has on delivering the optimal level of profit. These are real and tangible benefits. Individual functional areas need to understand their role in the overall plan and not behave independently.


What can organizations do today to evaluate their planning and forecasting processes? Simon suggested the following:



  • Look at your existing processes – are they collaborative and integrated?

  • How accurate are your forecasts? If you are not sure, take a retrospective look and find out.

  • How effective are the different business functions in forecasting accurately?

  • Take a look at benchmarks and case studies outside your organization and see how you measure up and what else you can achieve.

  • If you are in the spreadsheet world, re-evaluate the process and take an honest look at how it is working for you. How accurate are your forecasts?


It became quite apparent from speaking to David and Simon that it’s all about optimizing the business as a whole and not the individual parts; without enterprise planning integration, this is simply not possible.


To listen to the webcast, click here.

Monday Mar 04, 2013

Bridging the Gap Between Project Management and the CFO’s Office

Organizations undertake numerous projects and initiatives to generate revenue,  improve productivity and increase profits in the hope that they will have the desired effect. But in large and multi-national companies, how can they sensibly and efficiently decide which projects to undertake, how to assign resources, and how to fund them?

Aligning organizational plans (long term and short term) with financial plans and forecasts while enabling the various Lines of Business (LOBs) to lead the projects might sound like it would be next to impossible, but with proper project financial planning tools, it can work really well!

Whether you have indirect (or administrative projects) that generate cost but not revenue, capital projects or contract projects (that generate cost and revenue), or a combination of them, having a well defined, easy to navigate process for documenting, evaluating , funding and approving multiple projects from many LOBs is crucial for forecasting cost and revenues, and booking resources and staff.


Consider these steps:


Step 1: Plan for expenses and revenues (where appropriate), by individual project – and by groups of projects

Step 2: Generate and analyze project financials for individual projects and groups of projects

Step 3: Analyze the funding requirements and revenue generation potential for individual projects and groups of projects

Step 4: Analyze and approve workforce requirements and asset requirements for individual projects and groups of projects

Step 5: Enable the analysis, and approval process by Business Unit Leaders and Finance managers for individual projects and groups of projects within the overall financial plan

Step 6: Enable intercompany project planning and reconciliation to get a complete corporate view of projects within the overall financial plan

Step 7: Enable continued monitoring of project financials within the overall financial plan


Oracle Hyperion Project Financial Planning embraces these steps and provides the needed structure and automation to simplify an otherwise complex set of processes.

When proposing and planning new initiatives, understanding the financial implications on corporate financial plans and objectives and gaining consensus among all concerned parties are a major challenge for many organizations. Without good financial and operational information for both proposed and current projects, it is difficult to analyze and make decisions on new projects to undertake. Oracle Hyperion Project Financial Planning provides the ability for all involved parties to help with this decision making.

It bridges the gap between the detailed task oriented project plans that a project manager within each LOB maintains, and the overall impact of projects on corporate finances and resources. Management can get a holistic view of how their assets and resources are allocated, and then monitor performance and receive information about return on investment (ROI).

Oracle Hyperion Project Financial Planning bridges the gap between LOB project management and the financial plans and forecasts within the CFO’s office.

For more information, click here to read Oracle’s new whitepaper on Oracle Hyperion Project Financial Planning: Aligning Financial and Project Plans.

Monday Feb 25, 2013

Gartner Positions Oracle as a Leader in CPM Suites

On February 14th Gartner released their 2013 Magic Quadrant for Corporate Performance Management Suites report. In the report, Oracle was recognized as a Market Leader for the sixth consecutive year.


Gartner’s Magic Quadrant reports position vendors within a particular quadrant based on their completeness of vision and ability to execute. In this year’s report, among the market leaders, Oracle is positioned with the highest ability to execute and the strongest in completeness of vision.


Here’s an excerpt from the report with some comments about Oracle from Gartner:


“Oracle is a Leader in CPM suites, and the Hyperion brand is respected by finance executives worldwide. Oracle has a very broad and deep CPM product suite, which employs a multiproduct approach with different applications for each of the major CPM processes; however, these products employ a common foundation and administrative components. The vendor has a well-established partner channel and Hyperion skills are plentiful among the consultant community, given the well-established products.”


Oracle Hyperion Performance Management Applications are part of Oracle Business Analytics, which combine market-leading enterprise performance management applications with business intelligence tools and technology and analytic applications to help organizations strategize, plan and optimize business operations and achieve better business outcomes.


Click here to learn more:  reportpress release


For more information about Oracle’s Hyperion Performance Management Applications please go to www.oracle.com/epm.

Wednesday Feb 13, 2013

Tax Provisioning: Simplify, Standardize then Automate

Tax provisioning is a process that has become increasingly more complex to perform, but increasingly more important to do well. I recently interviewed Andy Oliver, a PWC Director in their Tax Practice and an expert in Tax Provisioning, in a Podcast which I feel sheds some light on this increasingly complex matter. To listen to the Podcast, click here.


Tax provisioning is the process of reporting current and deferred income taxes in a company’s financial statements – tax on current profits and estimated future tax on future profits. There are a myriad of rules and requirements for calculations and disclosure that apply to different companies and countries and they are changing all the time. It is extremely important to have accurate, transparent calculations as when and what to pay and defer can make a huge difference to a company’s bottom line.


How do most tax accountants and departments manage this process? Andy indicated that a majority of companies pull this information together through numerous and large spreadsheets with complex and convoluted calculations. And although these spreadsheets offer flexibility – to keep up with the ever changing rules – they do not provide consistency in calculations, standardization of the process, or data security. This means that the calculations and resulting reports are error prone and can cause countless hours of work to find and correct the errors.


Ideally, the tax provisioning process should be performed early in the financial close process to get a really good picture of the end result. However, inevitably being early in the process means the financial results will change and the provision or estimation will have to be recalculated. Having the tax provisioning process integrated with the financial close process and systems makes a lot of sense, from an efficiency standpoint, to reduce the amount of work required each time there is a change to the financial results. We also discussed how important it is to SIMPLIFY the tax provisioning process and then standardize and automate the process before integrating with the financial close process to be truly effective and world-class.


Oracle’s Hyperion Tax Provision solution was designed to provide this integration with the financial close process and drive efficiency into the tax provisioning and disclosure process.


Finally, Andy had this advice for the listeners, “If you can align the tax reporting process with the financial close process – eliminating much of the manual, spreadsheet-based calculations, you will get the job done quicker, experience fewer mistakes, and be able to spend more time doing the important part of your job as a tax accountant; analyzing the numbers, and providing insight on the results such as WHY the numbers are different from forecast or from last year.


For more information on the Oracle Hyperion Tax Provision solution, click here.


To listen to the podcast, click here.


 

Monday Dec 17, 2012

Integrated Reporting is Getting Closer

Oracle recently sponsored a webcast on CFO.com titled:  The CFO Playbook on Integrated Reporting: Integrating Sustainability into Financial Disclosures.  The speakers for this webcast were James Margolis, partner with Environmental Resources Management (ERM), a global provider of environmental, health, safety, risk and sustainability consulting services (EHSS) and Mike Wallace, Director of the Global Reporting Initiative's Focal Point USA.


This webcast focused on why top companies in the U.S. and overseas are incorporating sustainability content into their annual reports and other financial disclosures. The speakers discussed the benefits of integrating sustainability reporting with traditional financial reporting. They noted how investors, corporate directors, lenders and most recently, the Securities and Exchange Commission, use this information to better understand, benchmark and value companies. They also discussed the November 2012 release of an Integrated Reporting Framework by the International Integrated Reporting Council (IIRC).  See the press release and link to the framework here. 


The shift towards integrated financial and sustainability reporting is gaining momentum with a number of global stock exchanges endorsing this approach in 2012.  See the links here if you want to listen to the webcast or download the slides. Also, here is a demonstration of Oracle’s solution for integrated financial and sustainability reporting. If you’re interested in learning more about this and Oracle’s other Sustainability Reporting solutions, click here.


If you have any questions or need additional information, please feel free to contact me at john.orourke@oracle.com.

Friday Oct 19, 2012

Why CFOs Should Care About Big Data

The topic of “big data” clearly has reached a tipping point in 2012.  With plenty of coverage over the past few years in the IT press, we are now starting to see the topic of “big data” covered in mainstream business press, including a cover story in the October 2012 issue of the Harvard Business Review. 


To help customers understand the challenges of managing “big data” as well as the opportunities that can be created by leveraging “big data”, Oracle has recently run and published the results of a customer survey, as well as white papers and articles on this topic.  Most recently, we commissioned a white paper titled “Mastering Big Data: CFO Strategies to Transform Insight into Opportunity”.


The premise here is that “big data” is not just a topic that CIOs should pay attention to, but one that CFOs should understand and take advantage of as well.  Clearly, whoever masters the art and science of big data will be positioned for competitive advantage in their industries or markets.  That’s why smart CFOs are taking control of big data and business analytics projects, not just to uncover new ways to drive growth in a slowing global economy, but also to be a catalyst for change in the enterprise.  With an increasing number of CFOs now responsible for overseeing IT investments and providing strategic insight to the board, CFOs will be increasingly called upon to take a leadership role in assessing the value of “big data” initiatives, building on their traditional skills in reporting and helping managers analyze data to support decision making.


Here’s a link to the white paper referenced above, which is posted on the Oracle C-Central/CFO web site, as well as some other resources that can help CFOs master the topic of “big data”:


White Paper “Mastering Big Data:  CFO Strategies to Transform Insight into Opportunity


CFO Market Watch article:  “Does Big Data Affect the CFO?”


Oracle Survey Report:  “From Overload to Impact – An Industry Scorecard on Big Data Industry Challenges”


Upcoming Big Data Webcast with Andrew McAfee


Here’s a general link to Oracle C-Central/CFO in case you want to start there:


www.oracle.com/c-central/cfo


Feel free to contact me if you have any questions or need additional information:  john.orourke@oracle.com


Wednesday Oct 03, 2012

Planning in the Cloud - For Real

One of the hottest topics at Oracle OpenWorld 2012 this week is “the cloud”.  Over the past few years, Oracle has made major investments in cloud-based applications, including some acquisitions, and now has over 100 applications available through Oracle Cloud services. 


At OpenWorld this week, Oracle announced seven new offerings delivered via the Oracle Cloud services platform, one of which is the Oracle Planning and Budgeting Cloud Service.  Based on Oracle Hyperion Planning, this service is the first of Oracle’s EPM applications to be to be offered in the Cloud.    This solution is targeted to organizations that are struggling with spreadsheets or legacy planning and budgeting applications, want to deploy a world class solution for financial planning and budgeting, but are constrained by IT resources and capital budgets. With the Oracle Planning and Budgeting Cloud Service, organizations can fast track their way to world-class financial planning, budgeting and forecasting – at cloud speed, with no IT infrastructure investments and with minimal IT resources.


Oracle Hyperion Planning is a market-leading budgeting, planning and forecasting application that is used by over 3,300 organizations worldwide.  Prior to this announcement, Oracle Hyperion Planning was only offered on a license and maintenance basis.  It could be deployed on-premise, or hosted through Oracle On-Demand or third party hosting partners.  With this announcement, Oracle’s market-leading Hyperion Planning application will be available as a Cloud Service and through subscription-based pricing. This lowers the cost of entry and deployment for new customers and provides a scalable environment to support future growth.


With this announcement, Oracle is the first major vendor to offer one of its core EPM applications as a cloud-based service.  Other major vendors have recently announced cloud-based EPM solutions, but these are only BI dashboards delivered via a cloud platform.   With this announcement Oracle is providing a market-leading, world-class financial budgeting, planning and forecasting as a cloud service, with the following advantages:


·                     Subscription-based pricing


·                     Available standalone or as an extension to Oracle Fusion Financials Cloud Service


·                     Implementation services available from Oracle and the Oracle Partner Network


·                     High scalability and performance


·                     Integrated financial reporting and MS Office interface


·                     Seamless integration with Oracle and non-Oracle transactional applications


·                     Provides customers with more options for their planning and budgeting deployment vs. strictly on-premise or cloud-only solution providers.


The OpenWorld announcement of Oracle Planning and Budgeting Cloud Service is a preview announcement, with controlled availability expected in calendar year 2012.  For more information, check out the links below:


Press Release


Web site


If you have any questions or need additional information, please feel free to contact me at john.orourke@oracle.com.

Thursday Sep 13, 2012

What's Happening in Business Analytics at OpenWorld 2012?

Oracle OpenWorld 2012 is rapidly approaching on September 30th when we take over the city of San Francisco for five days.  The Business Analytics this year is our strongest ever with over 150 EPM, BI, Analytics and Data Warehousing sessions delivered by Oracle, our customers and partners.  We’ll also have Hands-On Labs, 20 demo pods dedicated to Business Analytics products, and over 30 partners exhibiting their solutions. 


So what’s hot in the Business Analytics program at OpenWorld?  Here are some of the “can’t miss” sessions at this year’s conference:



  • The EPM and BI general sessions, led by SVP of Product Development Balaji Yelamanchili will highlight what’s new provide a view into Oracle’s EPM, BI and Analytics strategies.  Both sessions are scheduled on Monday, October 1st.

  • Thursday Keynote:  See More, Act Faster:  Oracle Business Analytics, led by Oracle President Mark Hurd, will provide a view into Oracle’s strategy for Business Analytics, especially engineered systems designed to provide extreme performance for the most rigorous analytic tasks.

  • Superfast Business Intelligence with Oracle Exalytics.  Hear about various business intelligence scenarios in which Oracle Exalytics provides exemplary value—from operational reporting and prepackaged applications to analytics on unstructured data.

  • Turn Insights into Real-Time Actions with Oracle Business Intelligence Mobile.  Learn how Oracle Business Intelligence Mobile enables organizations to deliver relevant information and turn insight into real-time action, no matter where employees are located.

  • Empowering the Business User: Introduction to Oracle Endeca Information Discovery.  Find out how you can find fast answers to the new questions that confront your business every day, while avoiding the confusion and inconsistencies brought about by spreadsheets and desktop tools.

  • Big Data:  The Big Story.  Learn how to harness big data, your existing data, and predictive analytics to make better decisions in an environment of rapid shifts in behavior and instant feedback.  Learn about the technologies that constitute a big data architecture, how to leverage and implement advanced analytics for real-time decisions, and the tools needed to know the unknown.

  • Planning at the Speed of Business with Oracle Exalytics.  Learn how Oracle Hyperion Planning leverages the power of Oracle Exalytics to do planning faster, with more detail and more users than ever.


For more details on these and other Business Analytics sessions at OpenWorld, download the Focus On Business Analytics program guide at:  http://www.oracle.com/openworld/focus-on/index.html


We look forward to seeing you in San Francisco!

Friday Aug 03, 2012

What CFOs Need to Know About the Cloud

“The Cloud” has become one of the hottest buzz topics in the industry this year, and what started out as a topic mostly of interest to IT executives is quickly moving to the radar screen of CFOs and Finance Executives.  To help companies understand “the cloud”, as well as the advantages and considerations of cloud computing, Oracle has recently published a number of articles, white papers and videos on this topic. 


Some of the advantages of cloud-based applications include improved time to value, reduced up-front costs, leveraging 3rd party skill sets and having a scalable environment to support future growth.  Some of the considerations and risks include security, performance, integration of cloud-based applications with on-premise systems and long-term costs of ownership.


Here are some links to articles, case studies and videos covering what CFOs should know about the cloud on Oracle C-Central:


Partner Perspectives video: What CFOs Should Know About the Cloud


CFO Market Watch article: What CFOs Should Know About the Cloud


Essex County Council Adopts Cloud Computing for Payroll to Save US$ Millions & Offer Shared Services


Here’s a general link to Oracle C-Central/CFO in case you want to start there:


www.oracle.com/c-central/cfo


Here’s an article from Profit Magazine that might be of interest:


Five Ideas: Finance - What CFOs need to know about cloud and other technology solutions


Feel free to contact me if you have any questions or need additional information:  john.orourke@oracle.com


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This blog will highlight key EPM market trends, recent events and other news of interest to our field, customers and partners.

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