Archivi autore: Stefano Francese

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.

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