Archivi autore: Stefano Francese

Meetings on the EPM’s

EXPERLAB is pleased to offer a series of 5 online meetings, to be held on Teams or Zoom, starting in January, on the subjects of EPM and CFO Reporting.
The meetings are aimed at resources in the Administration and Finance, Management Control and IT areas of companies that use or intend to use Performance Management tools.
All sessions are organized into a maximum duration of 50 minutes and include:
1. Presentation of a specific topic by EXPERLAB, lasting half an hour;
2. Interaction with companies and in-depth studies on issues related to their reality, lasting twenty minutes.
The technology presented is that of ORACLE EPM on premise and Cloud, in the various application modules.
The first meeting is scheduled for Tuesday 19 January, 12:00 – 12:50: the title of the meeting is “The advantages of acquiring an EPM tool”.
To subscribe, please send an e-mail to Stefano Francese, at S.Francese@experlab.it by Wednesday 13 January.
Happy to make our experience available.

Epm updates

We summarize some of the latest release updates in order of importance (both from a consultant and a user point of view), up to October 2020:
1. Journal in YTD;
2. Internet Explorer no longer supported;
3. Choice of the scenario for the reopening of balances 31.12;
4. Extraction of Intercompany, Journal, Consolidation reports in number format, no longer text;
5. Changing the order of execution of the rules set;
6. Business rules available in the Data Integration;
7. Ability to customize the column width of the Web Forms;
8. New entities created inherit the process status of the parent entity, on previous periods;
9. Refresh is no longer necessary before Member Selection in Smart View;
10. Possibility of activating notifications (promotion, approval, rejection) for a specific entity, for a user;
11. New Disclosure Management extensions for Smart View;
12. New commands of EPM Automate;
13. New dashboard 2.0 on Oracle Jet technology;
14. Improvements in the activity report on system performance / rules execution;
15. Assigning users to user groups that can be imported via CSV.

XBRL in the Cloud

Oracle EPM Cloud Enterprise suite is increasingly mature and complete.
Among the various tools of the Financial Closing, within the Narrative Reporting, the tagging functions of the new iXBRL format are fully operational. A point to bear in mind in the analysis and development of the group chart of account which must be complete and “mappable” on the XBRL format required by the legislation.

And to clarity on statutory level, regarding the Inline XBRL (iXBRL), we have two steps:
1 – In the first two years (2020 and 2021) the Balance Sheet, Income Statement, Cash Flow Statement and Statement of Changes in Equity must be presented;

2 – From 1st January 2022: Notes to Financial Statements and Disclosures are added to the above.

EXPERLAB and EPM Cloud

With seven implementations already live from 2019 to today (five on FCCS, one on PBCS, two on EPRCS) EXPERLAB is increasingly being recognized as a company that invests in new Oracle EPM Cloud technologies; also strong of the experience started in 2005 on traditional Hyperion applications.
We make fifteen years of project history available to CFOs and CIOs.
Together we think about:
– Make a new implementation of EPM Cloud;
– Migrate from EPM on premise to EPM Cloud;
– Stay on EPM on premise, on updated releases;
– Migrate individual application parts from “on premise” to Cloud keeping the two worlds active and managing a “light” passage and in parallel for a period of time.

EXPERLAB is:
Training of young resources on new technologies.
Experience.
Reference point for companies on all traditional and modern EPM.

EPM Cloud integration

We are in front of a company that tells us that it is evaluating Oracle to cover the following Financial Close processes:

– Statutory and managerial reporting;

– Budget and planning;

– Consolidated financial statements.

What can we offer?

Today we will be able to start from EDMCS (Enterprise Data Management Cloud Service) to explain how metadata is imported into a shared environment and how it is distributed in planning and consolidated applications.

We will show the strengths of FCCS (Financial Consolidation and Close Cloud Service) for the consolidated financial statements, and PBCS (Planning & Budgeting Cloud Service) for planning.

We will go back to EDMCS and we will say that in addition to keeping the metadata aligned between different modules, it moves the data from one environment to another: we can show a practical case where the Budget data processed and validated in PBCS is brought to FCCS to be consolidated and compared to the actuals.

On EPRCS (Enterprise Performance Reporting Cloud Service) we will build the reporting book: variance analysis, management reporting, note to the financial statements, supplemental info.

The added value that EXPERLAB brings, beyond the technical competence and constant updating on all Oracle EPM technologies, are the over 15 years of experience in Finance projects of this type and the predisposition to understand the main problems of management control resources.

FCCS case histories

Between 2019 and today ExperLab has managed n.5 implementations of Oracle FCCS applications, n.4 of which are already live and active.
The experience on the Cloud consolidation on Oracle technology grows, after more than 15 years of implementations of the consolidation in HFM.
Here are some of the features of the applications released to our customers:
– N. operating users: between 5 and 15;
– Statutory and managerial consolidation;
– From a minimum of n.8 to a maximum of n.60 companies consolidated in the perimeter;
– Flat and staged consolidated by region, statutory and foreign currency;
– Cash Flow Statement and Notes tables developed in all implementations;
– Import data from different sources, via Data Management;
– Dimensions of managerial analysis such as Channel, Geographical Area, Cost Center, Business Line, Department, Division;
– At least 2 “historical” closing loaded and reconsolidated in all applications;
– Presence of budget and planning scenarios;
– Both new implementations and migrations from HFM.
The relationship with Oracle in identifying the new features introduced in the tool is constant and contributes, together with the technical growth on the tool of our resources, to build the best implementation practices along the various projects.

FDMEE and EPM Cloud

One of the main phases of a migration project from Oracle EPM “on premise” to Oracle EPM Cloud is the transition of the historical data from old to new environment.

Having an FDM EE at home, even if not fully used to upload data from ERP, is of fundamental importance.

This ETL, which we are used to seeing data from JDE, SAP or other sources load into Hyperion, connects our traditional applications with CLOUD applications, maps the existing dimensions with the new ones, migrates the data.

Imagine, in a consolidated financial statement application, that we need to migrate different actual and planning data scenarios, starting from 2015, statutory and managerial. Imagine the need to migrate both the legal entity data and the consolidated data: FDM EE migrates both types, and this allows system integrators and key users a significant time saving in not having to reprocess or reconsolidate, within the new environment , the previous database.

Strongly recommended in the plans to move to the Cloud for the reconstruction of the “historical” Financial Statements and the Notes.

For demos and further information: support@experlab.it

EPM Cloud Migration

Last week we met a company that uses an older version of Oracle Hyperion Financial Management and is considering migrating to the most updated release (11.1.2.4 or 11.2); today they manage both the consolidated and the monthly budget on HFM.
With Epm Cloud Enterprise they could:
1. Separate the two processes on the two separate modules: Oracle FCCS (Consolidated) and Oracle PBCS (Budget);
2. Exploiting cubes and dimensionality of Oracle PBCS to structure the Budget process more;
3. Optimize the execution times of the consolidation process, made heavy by the allocation and monthlyization rules;
4. Use of rules “on demand” to be linked within each phase of the Consolidation and planning process;
5. Bring the Budget data from Oracle PBCS to Oracle FCCS for consolidation through Data Management.

#experlabstories

Services for Actual Fy19

Looking at the closing of the Group Consolidated Financial Statements as at 31.12.2019 ExperLab offers:

  • Assessment on current use of EPM systems, in particular Oracle Hyperion “on premise” and Cloud, and gaap analysis with desired level of use;
  • Training sessions for basic users, key users and administrators;
  • Development of templates to improve the process of loading of financial statements by Legal Entities and ensuring the control of the integrity of the data in the system;
  • Development of templates for the management of manual consolidation entries;
  • Evolution of application structures (metadata), calculation rules, translation, consolidation;
  • Creation of new data analysis reporting along the consolidation process (Translated / Aggregate / Eliminations / Contribution levels).

The aim of the proposal is to provide the key user with a single service package, capable of:

  • Strengthen his skills in the use of the various components of the system;
  • Increase the application’s ability to respond to its Financial Close needs.

Oracle Hyperion 11.2

The new version of Oracle Hyperion EPM “on premise” 11.2 is officially available.
A migration alternative for those customers who have Hyperion version 11.1.2.3 or earlier installed at home.
ExperLab is available to assist Hyperion application key users to understand together migration opportunities to:
– Oracle Hyperion EPM 11.2;
– Oracle EPM Cloud Enterprise.