Archivi categoria: Consulting

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.

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.

The winning EPM project

Ability to transfer skills and knowledge to key users: competence, confidence in the product, perception of this as a “friend” support and not an opponent, full committment in its use. It’s the job of a good senior consultant.
The ability of an application to follow a finance process and the technical and functional expertise of the consultant are basic requirements, but more and more I realize that an Enterprise Performance Management project – budget, reporting, consolidated financial statements that is – is fully successful if it has that surplus that generates advanced users able to make management control using an EPM tool at full capacity.
Happy holidays, and see you in September.