By Rich Wilkie, Vice President, EPM Product Management, Oracle
With thousands of organizations using Hyperion Financial Management (HFM) to manage their close processes and consolidate actuals, it’s inevitable that I get questions about it on a daily basis. One of the most common questions is, “Is HFM dead?”
The answer is a resounding “No.”
Surprised? You might be if you’ve heard the rumors or “fake news” that have been going around about the HFM suite—specifically that Oracle is no longer supporting our thousands of HFM customers and/or HFM applications.
Nothing could be further from the truth. Hyperion is now part of the Oracle Applications Unlimited program. For Hyperion customers, this means:
Our customers tell us that Hyperion Enterprise Performance Management (EPM) is part of their future plans; therefore, it is part of our future plans.
You might be wondering who is out there spreading untruths and why it’s happening. It could be because of our leadership position in the market.
HFM has been a leader in monthly, quarterly, and annual closes for almost 30 years. Sometimes our competitors like to pretend we have disappeared because it would make it easier for them to sell their products. Unfortunately for them, we aren’t going anywhere anytime soon.
There are many smaller cloud providers out there who want to replace a part of what Hyperion does, whether that’s the financial close, account reconciliation, or planning. But they can only handle part of the job. For those Hyperion customers who are ready for a move to cloud, Oracle EPM Cloud is a superior alternative. A complete suite, Oracle EPM Cloud can handle close, consolidation, planning and analysis, narrative reporting, tax reporting and even enterprise data management.
Technology companies always innovate. Oracle will continue to debut groundbreaking inventions such as the self-driving database, but we’ll also continue to support existing customers using long-established products such as HFM.
If someone tries to tell you otherwise, don’t fall for it. In fact, let me know where you heard it so that I can personally set the record straight. You can find me here on LinkedIn.
The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, timing, and pricing of any features or functionality described for Oracle’s products may change and remains at the sole discretion of Oracle Corporation.
Statements in this article relating to Oracle’s future plans, expectations, beliefs, intentions and prospects are “forward-looking statements” and are subject to material risks and uncertainties. A detailed discussion of these factors and other risks that affect our business is contained in Oracle’s Securities and Exchange Commission (SEC) filings, including our most recent reports on Form 10-K and Form 10-Q under the heading “Risk Factors.” These filings are available on the SEC’s website or on Oracle’s website at oracle.com/investor. All information in this article is current as of October 2019 and Oracle undertakes no duty to update any statement in light of new information or future events.