Archivi categoria: Consulting

Value for management control

EXPERLAB is pleased to make its experience available to companies interested in acquiring and generating value from the development of EPM tools with Oracle technologies.

– Experience on projects: over 16 years
– Areas: consolidated financial statements, planning, management reporting
– Products: FCCS, PBCS, EPRCS, HFM, FDM, PLANNING, ESSBASE
– Sectors: Manufacturing, Energy & Utilities, Banking, Construction and Operation, Healthcare technology, Fashion & Luxury. Customer company turnover range: from 40 to 500 million.
– Human resources: considering an average of 3 key users per implementation, 180 human resources involved in our projects, coming from the areas of Finance Administration, Management Control and Information Systems.

We work together with different types of realities:
i. Companies currently not equipped with any EPM tools, which manage Financial Closing through Office tools;
ii. Companies that have implemented EPM solutions on projects but not completed or not optimized;
iii. Companies that intend to migrate from traditional on premise technologies to Cloud technologies.

with a vision and an approach always inclined to share knowledge and solutions, and to pass them on to users.

Third EPM Webinar

Ready with the third meeting: “Loading data on consolidated and budget applications”.

EXPERLAB is pleased to propose the third meeting on EPM and CFO Reporting, which will be held on 25 March, 12 – 12.50 am.
The schedule of the seminar is as follows:
i. The goal of Data Integration between ERP and EPM;
ii. Web Data Entry Forms;
iii. Data input template on Smart View;
iv. Data Management: mapping, validation, data import;
v. Data Management: back up from EPM balances to accounting information;
vi. Interaction with companies and insights on issues related to their reality.
The meeting will be held on Teams or on Zoom. To subscribe, please send an e-mail to Stefano Francese, at S.Francese@experlab.it by Thursday 18 March.

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 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.

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

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