Archivi autore: Stefano Francese

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.

Discovering FCCS Closing

It’s time of Financial Statements collection; holding companies controllers stress foreign controlled companies to gain the balances and the data quality to be consolidated.

Here we talk about a new winning approach to the closing: ready to see the new features of Oracle FCCS?

Experlab organizes webinars and assessments on Financial Close and Consolidated Financial Statements (and the disclosures), based on its many years experience in Finance processes.

For HFM historical customers we will focus on differences and affinities with Oracle FCCS, in terms of:
– Dimensional model and metadata management;
– Rules for calculation, conversion and consolidation.

For those who remain attached to a management of closures with the good old excel: a nice opportunity to see how easy it is to implement the new cloud consolidation solution along its design phases.

In two words, strengths that the consultant likes:
– The flexibility and speed in the creation of the master data of the dimensions, and in the management of the properties;
– The speed in loading data from different source systems, and in the production of Reporting;
– The preconfigured rules model at the consolidated level.

Winning projects also thanks to the new Cloud paradigms: we see the interest of the CIOs growing towards a model with zero internal maintenance costs, with advantageous fees and with applications that are always up-to-date also in terms of new features.

ECMA, Moving to the cloud

The moment is good to look at the favorable licensing of the EPM Cloud.
With FCCS we then have Demo Kits to start working on the following processes:
– IFRS Consolidated Financial Statements;
– Sustainability Reporting with GRI;
– Leases with the IFRS16 method.
EPM Cloud Migration Accelerator speeds up the migration of metadata from HFM to FCCS. From a system integrator point of view this is an added value for the implementation of the best practices of an FCCS project development.
After metadata migration we prepare the way to work on the data and the consolidation and Closing process, keeping a parallel with an on-premise HFM application active.

ExperLab EPM University

Our goal is to create value solutions for companies. Our pleasure is to see users confident in using these solutions.

Oracle EPM Training Topics:

FCCS (FINANCIAL CONSOLIDATION AND CLOSE CLOUD SERVICE):

  • Application Overview;
  • Manage Metadata;
  • Manage Rules;
  • Manage Financial Close.

EPRCS (ENTERPRISE PERFORMANCE REPORTING CLOUD SERVICE):

  • Manage Report Packages for the Notes;
  • Disclosure Management and XBRL overview.

From HFM to FCCS

  • Overview of the differences in the main logics of the two products;
  • Migration Considerations.

HFM (HYPERION FINANCIAL MANAGEMENT):

  • Manage Dimensions / Metadata;
  • Manage Rules;
  • Manage Web Forms and Documents;
  • Consolidator and base user training;

Essbase:

  • Manage application on EAS console;
  • Manage Load Rules;
  • Manage Calculation scripts.

Planning:

  • Using Calculation Manager;
  • Manage Task Lists and Planning Workflow.

FDM (FINANCIAL DATA MANAGEMENT):

  • Setup Import Format and Location;
  • Setup Mapping;
  • Report Execution and Drill Through.

Financial Reporting Studio:

  • Create FR Reports, books, templates.

Smart View:

  • Free “Ad Hoc Analysis”;
  • Retrieve Get Value for the Notes to Financial Statements;
  • Set Value.

Shared Services:

  • User creation;
  • Group Creation;
  • Assigning Roles;
  • Assigning Security classes.