For those companies that consider it every year.
It’s an old topic and we’ve discussed it many times, but we’ll repeat it: moving from HFM to FCCS is not a migration … But also, it’s not a new project starting from scratch.
I see these steps in our implementation plan for an FCCS based on an HFM:
1- A detailed functional analysis aimed at identifying improvements we can introduce into FCCS. FCCS introduces many new functionalities to be explained to key-user.
2- The migration, via flat files, of existing application structures. We do not migrate obsolete structures. We do not migrate the old HFM technical consolidation accounts !!
3- The development of calculation, translation, and consolidation rules directly using FCCS functions. We do not reproduce, in FCCS language, the old HFM calculation scripts !!
4- The migration of one or two previous closings. The FCCS consolidation chart of accounts is different from the one in the HFM Starter Kit. Therefore, the approach must be: not a line-by-line reconciliation between FCCS and HFM, but a validation of how FCCS presents consolidated data !!
Many key users are attached to their HFM and, if they absolutely must abandon it, they believe that a twin copy and having an FCCS identical to HFM are the preferred route.
The preferred route, however, is to exploit the FCCS functions. This provides a minimum of user training on a tool that has (few) differences from HFM, but allows for a stable, functional application with reduced implementation times.
We’re ready to show you a demo of how FCCS does statutory & managerial consolidation!