X

Proactive insights, news and tips from Oracle Hyperion EPM and BI Support. Learn Oracle from Oracle.

What's New and Why Migrate to Oracle Financial Consolidation & Close Business Process from HFM (Hyperion Financial Management)

Tanya Heise
Sr Principal Technical Support Engineer

Thank you to:

  • Rich Wilkie, EPM Product Management, for his presentation on migrating HFM to Financial Consolidation and Close (EPM Cloud); and
  • Al Marciante, EPM Product Management, for his presentation on migrating HFM Financial Reporting Definitions to Financial Consolidation and Close (EPM Cloud)

Migrating HFM to Financial Consolidation and Close EPM Cloud

Check out the Oracle Cloud Marketplace for Hyperion Financial Management Migration to EPM Cloud

All major HFM capabilities are now covered

  • Currency Translation Adjustment                
  • Copy & Clear                        
  • Movement enhancement for Balance Sheet Accounts    
  • Configurable Calculations & Translations                        
  • Advanced Consolidations                    
  • Ownership Management                    
  • Journals – Auto reversing, Attachments, Recurring, Templates        
  • Configurable Consolidation Rules                
  • Extended Dimensionality
  • Process Management    
  • Equity Pickup

Why should I consider moving from HFM to EPM Cloud Financial Consolidation & Close?

Comparison of Features and Functionality:

HFM vs. EPM Cloud: Dimensionality

 

"Configurable" Logic

 

Easily Migrate HFM Financial Reporting Definitions to Financial Consolidation and Close (EPM Cloud)

Check out the Oracle Cloud Marketplace for Hyperion Financial Management Reports Migration to EPM Cloud

Migration Tool:

  • Utility to automate application build
  • Moves all artifacts using Lifecycle Management
  • Respects capabilities and validations of EPM Cloud
  • Works with the latest monthly release - Updates to tool as metadata changes each month
  • Persists all mappings
  • 11.1.2.3 and 11.1.2.4 HFM applications are supported - Process can only be run once per target application

FR Migration Tool: What You Get

  • 01 Readme: The FrmtUserGuide.docx
  • 02 Script: The Script in Python format (Customizable)
  • 03 FRMT: The working folder structure and the Utility ready to use
  • 04 Examples: The IFRS4DIM application for training purposes with both HFM and Financial Consolidation and Close formats as well as example input reports

FR Migration Tool: What You Need to Know

  • User

    • Exporting and importing reports in “des” format from the reporting Repository
    • Creating and editing reports with the Reporting Web Studio
    • Running reports
    • Understanding HFM and FCC metadata models and the mapping between them including specifics of the migration project for which FRMT is used
  • Developer (Customizing Script)

    • Scripting in Python
    • XML
    • HFM and FCC metadata models

FR Migration Tool: What it Does (Features)

  • Preserves all the report formatting
  • Updates the data source to read data from Financial Consolidation and Close (FCC)
  • Updates the header logo if present
  • Matches the FCC pre-seeded content in terms of dimensions and member names
  • Adds FCC Consolidation dimension to the report’s dimension layout
  • Allows the mapping of dimensions
  • Provides suggestions for member names based on HFM input or FCC pre-seeded members
  • Allows the mapping of member names
  • Keeps only the data source of the migrated application
  • Converts reports based on an HFM application with 4 custom dimensions to an FCC application with 2 custom dimensions.

FR Migration Tool: Automatic Actions

  • Checks if the folder structure is the correct one
  • Checks if the FCC Template report is present
  • Removes the old report logo
  • Inserts the new logo
  • Maps out of the box dimensions (for example “Year” becomes “Years”)
  • Creates the “Consolidation” dimension
  • Creates the new FCC report
  • Moves to process the next report in the folder if present, also keeping all the dimensions as mapped for the first report

FR Migration Tool: User (Prompted) Actions

  • Asks for the default location of the folders when run as script only, implicit location for Utility;
  • Asks for the names of the 4 Custom dimensions. User should input Movement and Data Source for two of them;
  • Loops through Rows, Columns, Page and POV searching for Anchor
    • If static Anchor (the function for the Anchor is Member) suggests the value for the Anchor as the value to keep and gives the option to change it
    • If dynamic Anchor (for example, Descendants) asks if the function should be kept
      • Yes (y) moves on and suggests the value for the Anchor as the value to keep and gives the option to change it
      • No (n) asks the user to provide the full expression for that Anchor

 

What's New and Coming in Oracle EPM Cloud: Financial Consolidation and Close

* Oracle Safe Harbor applies

 

What's New and Coming in Oracle EPM Cloud: Account Reconciliation

* Oracle Safe Harbor applies

=============================================================================================================================

References:

Be the first to comment

Comments ( 0 )
Please enter your name.Please provide a valid email address.Please enter a comment.CAPTCHA challenge response provided was incorrect. Please try again.