Archivi autore: Stefano Francese

EPM Cloud implementation

With the Hyperion suite “on premise” Performance Management consultants used to create different separate application modules: HFM for the consolidated statements; Planning, with the Essbase engine, for the Budget and Reporting; just to stay on the main ones.

In the consulting team, the consolidated senior consultant and the senior reporting and budgeting consultant spoke different languages ​​and met with different customer users. The modules were implemented at times that were often far from each others, even years. The owners of the applications changed over time, there was the issue of how to integrate the world of the consolidated with the planning one, at the level of data and metadata.

There was the aspect of the purchase of additional licenses to be made available to the same user who was already “live” on the consolidation application, but had no access to the planning one, and remained interdicted by a “profane” of computer science.

The implementation projects risked being “short-sighted” because a module was implemented without having full visibility of the subsequent process to be covered. Risks of reworks on project streams already released. “River” meetings, where to put together general accounting and analytical accounting.

The implementation activity was more complex and certain reporting or financial close functions had to be reconstructed by passing days to write distant and insurmountable code for finance users and application controllers.

With regard to Hyperion, we have often heard controllers and managers of consolidated talk about “Ferrari” used maybe 10% of their possibilities. Very solid and market-leading applications for all Financial Close processes, but distant for all these reasons from the concept of “user friendly” so dear to users who already have different headaches in the normal activity of finance administration and controlling.

Today we implement also Oracle EPM Cloud Enterprise.

A unique suite that integrates all the Financial Closing modules. The Planning and the consolidated, together with the narrative reporting, or the account reconciliation are in the same environment. They talk to each other. Data Management integrates accounting data and takes them from one module to another; in the planning we launch allocations and manage worfklow and data validation; and then we import everything into the consolidated module to see the budget and forecast numbers at group level, and analyze the variances with the actuals.

The application key user and owner is active on the development of all Financial Close views and has the full history of application choices. It has a global vision of all developments phases and guides consultants within this global vision. Consultants grow in implementation best practices.

The new integrated modules introduce new functions, based on Oracle’s experience in the Performance Management sector on the various Closing processes. Technical and functional release updates on a monthly basis. These are economies of scale for simplified implementations (with less work for the EPM consultant!) and with key users who play more active roles and are owners of more accessible applications and faithful friends in stressful times during the closure days.

Obviously, with the Cloud, we no longer hear about compatibility issues and server or service restarts. But this is yet another theme.

Contact us to understand how ExperLab is already implementing the new Oracle EPM Cloud practice, both on new customers and on “on premise” applications to be progressively migrated to new technologies.

Discovering EPMs status

For the period of December 2019 / January 2020, looking at the financial closing processes of the end of the year, Experlab proposes an assessment meeting where to analyze the following areas:

Existing applications:

  • Applications ability to support the Closing process;
  • Level of user skills in the use of applications;
  • Needs for application new developments on data integration, reporting, calculation rules, user workflows;
  • Integration requirements for new modules.

Old Applications release / no longer covered by Oracle support:

  • Possibility of migration to Oracle EPM «on premise» 11.1.2.4;
  • Possibility of migration to Oracle EPM «on premise» 11.2;
  • Possibility of migration to Oracle EPM Cloud.

Non existing EPM application:

  • Possibility of Oracle EPM Cloud implementation;
  • Possibility of one or more EPM modules «on premise» 11.2 implementation.

The meeting is proposed to the following professionals:

  • Management control;
  • Administration, finance, treasury;
  • IT Departments.

An EPM system for the CFO

At the Oracle Cloud Day summit on November 5th in Milan we will be pleased to present how an Enterprise Performance Management (EPM) system can support the various financial closing processes.
ExperLab consultants, product experts and experts in different areas of management control, will show the strengths of Oracle FCCS and PBCS applications in terms of:
– Data acquisition and integration with different ERP or source accounting systems;
– Elaboration of a budget or consolidated financial statements process, along the various functional phases;
– Workflow, user tasks, review, promotion and data validation;
– Safe and frozen reporting book on web or Excel platforms;
– Use of modern systems, in step with the times, with the introduction of always new functionalities capable of supporting the management control closing processes.

Ready to Oracle Cloud Day

ExperLab will be present at the Oracle Modern Business Summit scheduled in Milan on November 5th.
We will talk about our implementations on the Cloud Performance Management tools:

  • Oracle FCCS;
  • Oracle PBCS;
  • Oracle EPRCS.

making all the insights on the development project phases.

We are available to meet controllers, CFO and IT Directors, to talk about:

  • New implementations of Oracle EPM Cloud tools;
  • Migration from Oracle EPM tools “on premise” to Oracle EPM Cloud;
  • Assessment on Financial Closing processes of statutory and consolidated financial statements, budgets and management reporting.

See you on November the 5th.

Looking at closing FY19

ExperLab proposes assessment sessions in preparation for the closing of the consolidated financial statements at 31.12.2019.

In these sessions the following are presented:

– The functionality of Oracle HFM (Hyperion Financial Management) and Oracle FCCS (Financial Consolidation and Close Cloud Service) products;

– The strengths of each of the two solutions and the identification of which is the most suitable for the company’s control model.

The sessions are aimed at companies that prepare the consolidated financial statements in the following ways:

– Without any Performance Management tools;

– With obsolete / non satisfactory tools.

To organize a first meeting,  please contact the following email addresses:

s.francese@experlab.it or support@experlab.it

ExperLab Q3 2019 Report

ExperLab is increasingly asserting itself as an Oracle Partner for the development of new Cloud Performance Management applications.

To date it manages seven new cloud product implementations (mainly Fccs but also Pbcs), all started in the year 2019.

And it keeps a dozen new developments, support and application maintenance on traditional “on-premise” applications active.

In addition ExperLab works with Oracle on the activities of proposing and demo on products in the Cloud.

Time Report of its consultants in the hands, the breakdown by Business Line is as follows:

– EPM Cloud application developments: 69%;

– Development, maintenance, EPM “on-premise” application support: 23%;

– Training, presale, business development: 8%.

The value for the customer is to have a partner first of all expert on the Financial Close processes, due to an experience on the Performance Management started in 2005, and able to guide him towards the choice of the Oracle EPM technologies most suitable for his control of management.

Fccs may-19 updates

Following are the new enhancements on FCCS May release.

  1. ON-DEMAND RULES: this is really appreciated by the EPMs consultants ! This is the possibility to perform calculations outside of a Consolidation Process. Also from Smart View > Business Rules console.
  2. SUPPORT FOR ADDITIONAL ELIMINATION MEMBERS IN THE DATA SOURCE DIMENSION: this is great ! Into Fccs Elimination world we can track different natures of automatic journals. Using Data Source Dimension. This is data tracking for the Consolidation process.

Other Improvements:

  1. VIEW SIZE AND LAST MODIFIED DATE OF SNAPSHOT;
  2. “CLOSE MANAGER” RENAMED TO “EPM TASK MANAGER”;
  3. EMAIL NOTIFICATIONS FOR SUBMITTED AND REJECTED JOURNALS;
  4. CONSOLIDATION REPORT ENHANCEMENTS;
  5. REMOVAL OF THE ABILITY TO CREATE NEW COMPOSITE FORMS;
  6. APPROVALS PROCESS ENHANCEMENTS;
  7. NEW VERSION OF THE EPM AUTOMATE UTILITY.

Statutory vs. Managerial

In a Planning & Budgeting project view we typically talk about:

  • A managerial / destination income statement;
  • A data entry stage for all the measures involved into the budget process;
  • A phase of calculating the Sales, Opex, Capex, HR budgets;
  • Different dimensions and cubes analysis involved;
  • Allocation drivers and standard or complex calculation algorithms.

 

In an EPM project it is good to immediately share with controllers a mapping analysis between the information of the managerial vs. statutory income statement.

We report case histories and best practices we use in Budgeting, Reporting and Consolidated EPM projects.

FCCS project approach

Ready to share ideas and best practices with customers who have an HFM at home.

Goal: share with HFM experts the roadmaps for the implementation of FCCS, with a focus on these aspects:

1- Start from “SAMPLE” application / from new application;
2- Management of metadata on excel;
3- Native functions of the chart of accounts “seeded” of FCCS;
4- New logics of data entry of asset movements and closing balances;
5- Rules for translation and consolidation;
6- Testing, UAT, training on the job.

IT managers and EPM Cloud

2019 spring era.

The advantage brought by the technology in EPM Cloud is becoming really tangible: we see it in the interest that the CIOs of the companies we visit show when we make our presentations of the transition from “on-premise” applications to applications in Cloud. We see a lot of curiosity and an active participation in our speeches.

The other feeling we experience is that talking about “on premise” “tastes old”.

We talk about visible and hidden costs. Imagine an iceberg.

At the visible cost level, the emerged part of the iceberg seems larger in EPM Cloud, where we have the annual service fee. In the “on-premise” applications we have the cost of annual license support, used by clients to open service requests and manage release migration.

The difference is great in the submerged part of the iceberg, where in terms of “on premise” applications we have:

– Initial investment (one-off);

– The management of upgrade and patching;

– Infrastructure management and costs;

– The cost of a technology that will become obsolete over time.

In the Cloud all this is included in the fee and the environment is always modern, updated with new features for financial closing applications, and patched.