Category Archives: Hyperion

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Oracle Hyperion Tax Provision: An Integrated Solution Bringing Tax and Finance Together

By Guest Blogger: McKenzie Clune

Oracle Hyperion Tax Provision (HTP) is an unparalleled tax reporting solution that integrates directly with the financial close and reporting process. This solution solves data and process challenges faced by corporate tax departments. The secret is that the tax provision problem does not lie with actual calculation of a tax provision, but rather with the collection and management of the data necessary to calculate the tax provision, which is why Oracle HTP works to streamline the process. Additionally, with alignment to financial department data and processes, you can achieve a more effective, efficient and transparent tax function.

At Oracle OpenWorld, Nigel Youell, Senior Product Marketing Director of Enterprise Performance Management at Oracle, was joined by Jim Gruber and Michael Pilch from TransRe to discuss their experience with Oracle HTP. Jim Gruber is from the Tax Department and Michael Pilch is from the Accounting Department of TransRe, which added interesting insights to this interview because Tax Provisioning is often a discussion between these two departments as the tax close process is  integral to the finance close.


TransRe shed light on their implementation process of Oracle HTP and how they achieved a “bringing together” of accounting and tax, which is something that had been lacking on the tax side of things previously. Due to this “bringing together”, the benefits realized in the tax provision process directly improved the financial close. Furthermore, by working within an integrated finance and tax-reporting platform, both the finance and tax departments spoke the ‘same language’ or ‘one version of the truth’ as TransRe describes it. There is less room for misunderstandings or inconsistencies involving data, metadata, and process, and more room for analysis–which is their ultimate goal.  TransRe is working to shorten their processes further, which will allow for even more time for analysis and improvements.

To watch the video, click here

Also at Oracle OpenWorld, Nigel was joined by Bart Janssen from Deloitte Netherlands to discuss how things have changed with the availability of Oracle Hyperion Tax Provision. Bart indicated that this solution is truly a game changer for tax because it leverages the knowledge of and closes the gap between finance, tax, and IT. This enables these parties to collectively work together, which ultimately results in the best tax solution for the company. The tax provision and financial close of a company go hand in hand as the Tax Department receive their data from the Financial Department, and therefore they need to be integrated. Oracle Hyperion Tax Provision results in a successful, more integrated process.

To watch the video, click here.  
To learn more about Oracle Hyperion Tax Provision, click here

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Enterprise Performance Clearly Explained With a Collaborative, Intuitive, Reporting Solution

In today’s Digital Age, the ability for management to clearly explain the quality and sustainability of corporate performance has become more important than ever.  Increasingly, the ability to value and explain the value of intangible assets is becoming a competitive differentiator.  Global and regulatory mandates around narrative reporting are also emerging, with the EU Directive on Non-Financial Reporting and SEC interest in making financial disclosure more effective.  

While there is a clear need for increased commentary and narrative in reporting, most performance reporting processes remain manual and ad-hoc.  The effort is time consuming, lacking process rigor and collaboration.  Errors are made in combining ‘data’ (what) with ‘narrative’ (who, when, why), especially with re-keying data.  In addition, organizations lack the ability to analyze the data to validate the narrative.  The disconnected nature of the process means it is difficult to bring subject matter experts into the process for centralized commentary.  Finally, there are auditability concerns and weak security around supporting “need to know” access to content.

In fact, in a recent survey, 90% of respondents agreed that expanding qualitative commentary in management reporting processes was critical to their organization. Yet, more than half of respondents were not confident in their tools to provide sufficient collaboration to produce that qualitative commentary.   

Oracle Enterprise Performance Reporting Cloud,  the newest offering in Oracle Enterprise Performance Management (EPM) Cloud, helps address these challenges.  It uniquely combines management, narrative and statutory reporting needs in a single, secure, and collaborative solution.  Complete authoring, collaboration, commentary, and report delivery capabilities streamline the process.  You can easily combine system of record data for more accurate reporting.  Secure, role-based auditable access on desktop and mobile devices enables the delivery of faster, meaningful insights to all stakeholders, anytime, anywhere.

Oracle Enterprise Performance Reporting Cloud combines data and narrative, providing a single web interface for report package contributors.  Report package owners define, manage, monitor and interact with content through this interface, while assigned users see only the content applicable to the role they have been assigned. In addition, users can easily take a deeper dive into the data without leaving the application.  Oracle Enterprise Performance Reporting Cloud includes the ability to perform multi-dimensional and other analysis on financial data.

The solution enables business users to participate in the narrative reporting process through the web interface on a variety of devices, including desktops and tablets.  Collaboration throughout the process is key to getting the most accurate picture possible, and helps shrink the time it takes to define, produce and deliver reports.

Increased demand, both internally and externally, for information, plus many data sources can make it challenging to have confidence in the results reported.  Oracle Enterprise Performance Reporting Cloud enables you to easily combine system of record data into your narrative reporting.  Authors can integrate both on-premises and cloud-based EPM and BI data sources directly, as well as integrate data from Oracle and other ERP systems, thereby leveraging existing IT investments.  This helps provide trust and reliability that the numbers and information are accurate.

We have seen tremendous interest from customers looking to “standardize” on a platform for narrative-based performance reporting.  Reporting needs range from quarterly or annual reports for external stakeholders, to internal management and business performance reviews, as well as periodic reports submitted to industry agencies, sustainability reporting, and more.

“We find Oracle Enterprise Performance Reporting Cloud extremely intuitive and easy to use.  The cloud-based nature of this solution, along with strong collaborative and security features, will help streamline the time it takes our clients to produce and deliver reports.”  Neil Sellers, Director Qubix

Stay tuned for more exciting news around customer adoption in the coming months!

To learn more about Oracle Enterprise Performance Reporting Cloud, click here.

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Insights from “Gartner Magic Quadrant Report for CPM” rating Oracle Hyperion as the leader

Gartner’s latest Magic Quadrant report for Corporate Performance Management (CPM) released on 19-Mar-2014 has rated Oracle EPM offering, Hyperion suite of EPM products, as the leader amongst all the CPM vendors.

Well, it is not very surprising to hear this (considering the past performance by Oracle Hyperion vis-a-vis other CPM vendors and being associated with Oracle Hyperion product suite since almost a decade), but definitely the results on quadrant and further information shared within the report are really interesting. My observations as below:

=> SAP & Oracle are placed almost together. Oracle beats SAP by maybe few basis points but strides made by SAP Hana probably had an impact on the results. We’ve lost few cases to SAP Hana on account of in-memory analytic features but I personally believe that most of the growth would be derived from SMB market due to which cloud offering on EPM is gaining recognition and more impetus amongst the big three players. Considering the same, the next year results would definitely account for cloud offerings by these three players (as pointed out within the report – Oracle was supposed to launch its EPM on cloud offering which is now already live)

=> IBM is a distant third and no one other CPM vendor is listed within the leadership quadrant. However, it seems that the quadrant may become more interesting next time with few other players in the Visionaries and Challengers Quandrant trying to gain make an entry into the leadership quadrant.

=> Gartner has a specific mention for Oracle regarding the low score achieved in CPM customer satisfaction survey and all the mentioned reasons are surprisingly controllable by Oracle. The reasons include: Contract Negotiation, Consulting Services and Help Desk Support.

=> It proves that one may have the best product in the market but if the company is unable to manage the customer requirements by way of support and quality service providers, you may risk being downgraded by the customers. In one of the meetings, a senior consulting member quoted, “In more than 90% of the projects that fail, it is not the problem of tool / system”. None of the above three highlighted issues in the report are non-manageable but somehow it seems that Oracle might have lost its way in the middle path to EPM leadership thereby allowing other players to gain substantially better in terms of customer satisfaction.

=>  I wish to also highlight Dodeca by Applied OLAP (a beautiful piece of software from an Essbase master, Tim Tow) which plugs in the gap between spreadsheet flexibility and Essbase Cube analytical abilities. During our demo session with Applied OLAP, we were informed of the fact that Essbase used to always score less in terms of BI customer satisfaction surveys until 2012 wherein it was the first time that Essbase actually was ranked #1 in BI Survey and  majority of the responses were from users who used Dodeca in conjunction with Essbase rather than standalone Essbase Excel Add-in. This point only goeas ahead in assisting the statement that a good product requires to be accompanied by usability factor to be termed as a market leader. Details about the BI survey report can be located at Applied OLAP website – here.

=> We firmly believe that in order for a product to be highly successful in market alongwith higher consumer satisfaction, it needs to keep things simple. Currently, majority of the CPM tools may have integration with MS Office as a standard functionality but what users actually need is a simple tool to ensure that his requirements are met.

=> 90% of the customers (business team as well as IT) that I’ve met have always wanted to keep things simple. Businesses are now more concerned on TCO being increased due to additional IT burden and would even opt for a solution which ensures minimal IT interference while ensuring the data security within day to day business operations.

P.S.: It is with the philosophy of simplicity, that we have developed Smart Metadata Creator System (SMCS) which targets finance business owners to take ownership of the dimensional hierarchy with minimal Oracle Hyperion Planning knowledge for ease in design process and also safeguarding possible future data mismatch and having a positive impact on the entire project timeline.

Disclaimer: Dodeca and all the associated trademarks are owned by Applied OLAP and / or Mr. Tim Tow and Innov8 Infinite is not yet a member of the Applied OLAP partnership network. The firm do intends to include the product within its solution portfolio in future but it has not influenced our decision towards inclusion / exclusion of any of the above information.

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Oracle Planning and Budgeting Cloud Service — What’s All the Buzz About?

Earlier this week, Oracle announced the general availability of our first EPM application in the Oracle Public Cloud, Oracle Planning and Budgeting Cloud Service, thereby extending our existing portfolio of on-premises and managed /hosted applications with a SaaS offering.

I had the pleasure of speaking and demo’ing our solution to a group of customers that day at an event in Dallas, and there was clear enthusiasm about the ability to access world-class planning functionality in a SaaS-based model.  Our announcement also generated excitement in social media and news articles.  In addition, existing Oracle EPM partners, as well as partners who have worked with us in other product areas, are lining up and are in the process of becoming specialized for Oracle Planning and Budgeting Cloud Service.  Some have already launched their rapid start offerings.

So, why are customers and partners excited about Oracle Planning and Budgeting Cloud Service?  What’s new and differentiated about this offering?

Fast Adoption

This application is built for SaaS adoption to meet cloud user expectations around ease of use and self-service.  It includes a number of cloud-specific capabilities that make it easy to roll out planning and forecasting to your lines of business across the enterprise.  These include:

+ Extensive online help and video tutorials
+ Best practice design templates and guides that are based on years of experience with Hyperion Planning implementations
+ Guided application navigation features that literally take a new user through the whole process of building an application
+ Plus diagnostics and governors that assist with building and monitoring an application from the administrative side

During the 3-month customer and partner preview program that we ran last year, we received very positive feedback about how users could get up and running with virtually zero training needed.

First-in-Class Functionality

While Oracle Planning and Budgeting Cloud Service is a new product, it leverages the code base of the market-leading Hyperion Planning application, which has seen rapid adoption over the past 10 years, with close to 4K organizations implementing it.  Many of these deployments have become quite large with over 1000, and some even over 5000 users globally.  This is what sets Oracle apart in the marketplace — proven on-premises technology, now optimized for the cloud.

+ Powerful multi-dimensional analysis capabilities and sophisticated rules framework for fast processing of complex calculations
+ Collaborative workflow and plan management capabilities, including powerful annotations, commentary, document attachments, task, workflow and burst reporting capabilities
+ Intuitive web interface with full MS office integration for driver-based modeling, rolling forecasts and analytics
+ On the fly models that can be created and shared collaboratively and validated against sophisticated predictive capabilities
+ Built-in management reporting capabilities

Flexible Deployment

Many companies today are assessing cloud options in parallel with traditional implementations of on-premises solutions.  They are concerned about potentially locking themselves into a single approach from vendors that can only offer either a cloud solution or an on-premises solution with no way back.

For most organizations today, flexibility of deployment holds the key to the way forward.  That is, the ability to adopt mixed mode deployments (public, private and hybrid clouds) as desired and to alter the mix when business circumstances dictate it.  Moreover, the Oracle Cloud offers security and encryption at every layer of the tech stack, utilizing the latest physical and logical data security and protection solutions. Oracle is the only vendor who can deliver this, leveraging our own hardware, database, and applications technology, plus the Oracle Cloud infrastructure.

Customers I’ve spoken with welcome this flexibility of deployment and see the Oracle Planning and Budgeting Cloud Service as an additional option to meet their planning and forecasting needs.  Customers have the ability to move applications back and forth between Planning and Budgeting Cloud Service and Hyperion Planning on premises, through Lifecycle Management (LCM) packages, which is proven technology from the Hyperion applications portfolio.

And, unlike niche cloud vendors, Oracle lets you decide when upgrades happen, so you don’t have to go through planned downtimes at a critical time. With Oracle’s flexible upgrade schedule, you can choose an upgrade window that best fits your business. Customers also have the ability to specify the 1-hour slot for daily maintenance and backups performed by Oracle.

So what’s all the buzz about?  Simply put, Oracle Planning and Budgeting Cloud Service offers world-class functionality with the simplicity of the cloud.

For more information about the Oracle Planning and Budgeting Cloud Service click here.

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Strategic P&L Statements and Opportunities for Improvement in Retail

Do you have strategic profit and loss statements for your customers, stores, and stock keeping units (SKUs) or products? Having little experience with this type of statement before, I was very fortunate to have two experts join me for a discussion about how strategic profit and loss statements can make a significant bottom line impact for Retail companies. Mark Wright, Principal Sales Consultant for Oracle EPM Applications and Bart Stoehr, Senior Director of Product Strategy Development, both specialize in the Oracle Hyperion Profitability and Cost Management Product. Both have an amazing depth of experience to share on all matters pertaining to profitability and cost management practices.

To start, I asked Mark to describe shortcomings he has seen in Retail company management practices. Mark explained that for decades retailers have been tasked to improve shareholder value by making decisions based on statutory financial statements and rarely do these mandated statements represent strategic views that embody the business.  Marketing, sales and operations often have to recreate their financials to better serve their decision needs.  Mark offered that “financial” profit and loss statements are generated from ERP systems designed to meet statutory reporting requirements, not the needs of strategic executives. Transactions are recorded in accounting structures by division, department and account with little linkage to profit dimensions such as customer, product, and vendor. When a customer pays for a product, key hidden expenses such as labor, warehouse, transportation, vendor, etc., are recorded in unrelated and separate accounting formats. This lack of linkage and transparency can lead to incomplete, inefficient and sometimes bad decisions.

Mark told us about a company that he had worked with that completely changed their product strategic direction by switching from product and SKU gross margin management to strategic profit and loss statements. This change resulted in driving .5% to 2.5 % profit points to the bottom line!

Diving deeper into this subject area, Mark relayed that marketing executives want to know where to make money so they can plan advertising budgets.  Sales organizations focus more on who is buying so they can set sales targets and quotas. Operational managers focus on what and how so they can balance supply to demand. Merchandisers focus on store floors and aisles so they can plan.  Corporate level executives just want to know when so they can set profit expectations.  Everyone wants different views of profitability.

Mark offered a good example of how a mistake can be made from too little information. Merchandisers want to turn over high volume products but likely don’t understand the hidden costs associated with them such as import fees and distribution costs.  Sales may want to push high revenue products to high volume customers even though the customer may be unprofitable because they tend to buy massive loss-leading products. These are very conflicting agendas and objectives and will not lead to profitability.

Bart provided good insight as to how Hyperion Profitability and Cost Management can transform traditional profitability information into strategic profit and loss reporting, giving execs and others the information they need to make good decisions. “Imagine an executive in your company pulling up a dashboard that has four different points of view into the same profit number”, Bart said. Views such as customer, product, channel (i.e. store), and warehouse all tying to the same bottom line with each view showing a color coded profit graph with the most and least profitable members. Continuing the story, the executive then clicks on the negative portion of the product graph and it displays an independent strategic profit and loss statement showing revenue, discounts, rebates, vendor costs, warehouse costs, transportation costs, store activity costs, cogs and negative income – all fully loaded with transparency and linkage to profit drivers such as quantity, activities, allocations, and other inter-dependencies.  

That sounded like utopia for executives, but Bart kept going…Now imagine further drilling into the strategic profit and loss  report and getting details on the store, SKU, vendor, customer, sales person, zip code, store isle and other profit measures important to decision making. I was hooked!

Bart told our listeners that this is just the tip of the iceberg.  This type of tool can also address:

SKU rationalization
Inventory reduction
Vendor negotiations
Bulk & benchmarking
Customer targeted marketing
Market basket & behaviors; sales incentives
Pricing & policy
Cost plus margin and minimum orders
Capital expense alignment
Return on Investment (ROI) alignment
Operating Expense resource alignment
Capacity and process improvements

I was amazed at the power of strategic profit and loss statements for executives. So you really need to ask yourself, “Can my profit and loss statements do all this?"

To listen to the entire podcast, click here.
To learn more about Hyperion Profitability and Cost Management, click here.

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Strategic P&L Statements and Opportunities for Improvement in Retail

Do you have strategic profit and loss statements for your customers, stores, and stock keeping units (SKUs) or products? Having little experience with this type of statement before, I was very fortunate to have two experts join me for a discussion about how strategic profit and loss statements can make a significant bottom line impact for Retail companies. Mark Wright, Principal Sales Consultant for Oracle EPM Applications and Bart Stoehr, Senior Director of Product Strategy Development, both specialize in the Oracle Hyperion Profitability and Cost Management Product. Both have an amazing depth of experience to share on all matters pertaining to profitability and cost management practices.

To start, I asked Mark to describe shortcomings he has seen in Retail company management practices. Mark explained that for decades retailers have been tasked to improve shareholder value by making decisions based on statutory financial statements and rarely do these mandated statements represent strategic views that embody the business.  Marketing, sales and operations often have to recreate their financials to better serve their decision needs.  Mark offered that “financial” profit and loss statements are generated from ERP systems designed to meet statutory reporting requirements, not the needs of strategic executives. Transactions are recorded in accounting structures by division, department and account with little linkage to profit dimensions such as customer, product, and vendor. When a customer pays for a product, key hidden expenses such as labor, warehouse, transportation, vendor, etc., are recorded in unrelated and separate accounting formats. This lack of linkage and transparency can lead to incomplete, inefficient and sometimes bad decisions.

Mark told us about a company that he had worked with that completely changed their product strategic direction by switching from product and SKU gross margin management to strategic profit and loss statements. This change resulted in driving .5% to 2.5 % profit points to the bottom line!

Diving deeper into this subject area, Mark relayed that marketing executives want to know where to make money so they can plan advertising budgets.  Sales organizations focus more on who is buying so they can set sales targets and quotas. Operational managers focus on what and how so they can balance supply to demand. Merchandisers focus on store floors and aisles so they can plan.  Corporate level executives just want to know when so they can set profit expectations.  Everyone wants different views of profitability.

Mark offered a good example of how a mistake can be made from too little information. Merchandisers want to turn over high volume products but likely don’t understand the hidden costs associated with them such as import fees and distribution costs.  Sales may want to push high revenue products to high volume customers even though the customer may be unprofitable because they tend to buy massive loss-leading products. These are very conflicting agendas and objectives and will not lead to profitability.

Bart provided good insight as to how Hyperion Profitability and Cost Management can transform traditional profitability information into strategic profit and loss reporting, giving execs and others the information they need to make good decisions. “Imagine an executive in your company pulling up a dashboard that has four different points of view into the same profit number”, Bart said. Views such as customer, product, channel (i.e. store), and warehouse all tying to the same bottom line with each view showing a color coded profit graph with the most and least profitable members. Continuing the story, the executive then clicks on the negative portion of the product graph and it displays an independent strategic profit and loss statement showing revenue, discounts, rebates, vendor costs, warehouse costs, transportation costs, store activity costs, cogs and negative income – all fully loaded with transparency and linkage to profit drivers such as quantity, activities, allocations, and other inter-dependencies.  

That sounded like utopia for executives, but Bart kept going…Now imagine further drilling into the strategic profit and loss  report and getting details on the store, SKU, vendor, customer, sales person, zip code, store isle and other profit measures important to decision making. I was hooked!

Bart told our listeners that this is just the tip of the iceberg.  This type of tool can also address:

SKU rationalization
Inventory reduction
Vendor negotiations
Bulk & benchmarking
Customer targeted marketing
Market basket & behaviors; sales incentives
Pricing & policy
Cost plus margin and minimum orders
Capital expense alignment
Return on Investment (ROI) alignment
Operating Expense resource alignment
Capacity and process improvements

I was amazed at the power of strategic profit and loss statements for executives. So you really need to ask yourself, “Can my profit and loss statements do all this?"

To listen to the entire podcast, click here.
To learn more about Hyperion Profitability and Cost Management, click here.

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Planning and Budgeting in the Cloud

Oracle’s Planning and Budgeting Cloud Service is a new cloud service based on the functionality of the latest release of Oracle Hyperion Planning, which is the global market-leading packaged application for Planning and Forecasting. Recently, I had the pleasure of interviewing Jennifer Toomey, a Senior Director of Product Marketing for Business Analytics at Oracle, on a podcast, and she relayed a lot of useful information to our listeners about the types of companies that are turning to the cloud for budgeting and planning, and the kinds of benefits they can experience. 

But first things first. I asked Jennifer to explain to our listeners why companies are moving to the cloud — what are some of the challenges with planning, budgeting and forecasting that can be addressed with a cloud-based solution?  She relayed to our listeners that planning extends far beyond the walls of the finance organization. “Pretty much every department in your company is involved with planning and budgeting.” The vast majority of planning and budgeting work is done outside of the Finance, Planning and Administration group by line of business users. Jennifer further explained that while common wisdom suggests that more inputs can help lead to more accurate forecasts, the problem is often that these inputs are done via disconnected processes – often using spreadsheets.  There is a huge amount of inefficiency and a general loss of productivity in the planning process done this way.  

According to industry studies, on average:

20% of employees are involved for at least three weeks to create the annual plan
This can add up to 3% of a company’s revenue, or
$1,000 per employee!


So how can Cloud help? Jennifer explained that using a cloud-based model, a planning solution can be quickly and flexibly rolled out across the organization, enabling you to easily gain the input and intelligence of line of business managers as part of the planning process. Moreover, up until a couple of years ago, we still saw reluctance in the Finance department around adopting cloud applications, largely driven by security and data confidentiality concerns. However, this reluctance is vanishing rapidly.    Analyst studies indicate that Finance executives are increasingly buying into the SaaS model, and in a recent survey that we conducted, three quarters of respondents indicated that they are currently using or will consider deploying EPM in the cloud. So what is happening with Oracle’s Planning and Budgeting Cloud Service?  Jennifer explained to our listeners that “Oracle’s been moving aggressively towards the SaaS model across its application suite and, as we’ve seen our customers’ attitudes shift in favor of cloud, we are now moving our EPM applications into the Oracle Cloud.” She also described some of the functionality being offered:

It is based on the functionality of the latest release of Hyperion Planning, which is the market-leading packaged application for Planning and Forecasting, and it is optimized for the cloud.
Ability to migrate from on-premise
Data integration
Financial and management reporting
Full MS Office Integration
Same security, operations and infrastructure as all applications that are part of Oracle Cloud

It is important to note that this is not simply a hosted version of Hyperion Planning, but rather, it is a new application that has been completely optimized for the cloud.  We chatted about some of these cloud-specific enhancements to accelerate usage and minimize administration, including online help, guided tutorials, and diagnostic tools.

What are the key benefits for customers with this cloud offering and who can benefit? Jennifer explained to our listeners that mid-size companies have a lot to gain, especially if they don’t have the resources to implement an on-premises solution. Hyperion customers with a custom-based Planning application in Essbase also have the opportunity to modernize and have a fully workflow-enabled application. But really any customer looking to quickly roll out a departmental or line of business-based planning solution, outside of finance would benefit greatly. They can all expect:

Fast Adoption
First-in-Class Functionality
Flexible Adoption (it is exactly the same software whether in the cloud or on-premises– so organizations can change the deployment method in the future with minimum effort if they need to) 

In summary, Oracle Planning and Budgeting Cloud Service offers world-class functionality with the simplicity of the cloud.

To listen to the entire podcast, click here.
To learn more about Oracle’s Planning and Budgeting Cloud Service, click here.












Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Déjà Vu? Oracle EPM in 2013


As the year winds down, I wanted to share some of the highlights from EPM in 2013 and give a sneak peak about where we’re going next year. 2013 was a busy year with new product developments, new research studies, as well as customer events like Oracle OpenWorld. Let’s look back at some of these happenings and their associated blog posts.


New Product Developments 

Early in 2013, we announced a new release of Oracle Enterprise Performance Management with new integrations and product capabilities and updates to user experience that help companies to Unlock Business Potential – by unlocking business potential, companies are able to drive to the desired business outcomes of Aligned Objectives, Accurate Forecasts, Confident Close and a more Accountable Enterprise.

We also released new product modules, including Oracle Hyperion Tax Provision to help with aligning tax information and financial reporting, and Oracle Data Relationship Governance for improving financial master data governance and managing change.  In addition, we certified Oracle Hyperion Planning and Oracle Hyperion Profitability and Cost Management on Oracle Exalytics In-Memory Machine to help organizations Plan at the Speed of Business.  

For the sixth consecutive year, Gartner recognized Oracle as a Market Leader in its 2013 Magic Quadrant for Corporate Performance Management Suites report.  In this year’s report, among the market leaders, Oracle is positioned with the highest ability to execute and the strongest in completeness of vision.

New  Research

We conducted several interesting research studies in 2013.  Over the past several years, as we have gone through and emerged from the Great Recession, the role of the CFO has transitioned to one of catalyst for change.  New technologies and shifts in skill sets are also contributing to this changing role.  To understand these issues more deeply, we partnered with Accenture and released new research about the CFO’s changing role from financial overseer to corporate strategist and change agent.

To learn more about how Oracle customers perform Business Analytics processes (which includes Enterprise Performance Management, Business Intelligence and more), we launched the Oracle Business Analytics Customer Value Index (CVI) program in 2011, through which we collect valuable business process information from our customers.  The EPM Blog featured some compelling results from the CVI around Enterprise Planning, Budgeting and Forecasting Processes.

Customer Events and Videos 

One of the highlights of the year was Oracle OpenWorld, and winning the America’s Cup during that week certainly added to the excitement!  The Business Analytics program this year was our strongest ever, with over 200 EPM, BI, Analytics, Big Data and Exalytics sessions delivered by Oracle, our customers and partners.   We had the opportunity to catch up with a number of these customers and partners after their sessions, and you can view the interviews here

In one of our blogs about Scorecards, we featured forward-looking DC Courts and their process for managing strategy and KPIs.  DC Courts are making some great strides in setting strategy and executing on it, and are really setting the bar for other US Courts. 
On the topic of Profitability and Cost Management, we interviewed Ida Quamina of Oracle about the great strides being made in mastering the cost of Higher Education, and how these institutions can now address the issues of low or no visibility into individual programs, degrees and course costs, or the cost per student.
Next up – Cloud and Mobile!

As we head into 2014, there are many exciting developments in store, and you can expect to see us talk a lot about Cloud and Mobile technologies next year. Our blog called, “Taking your Business Scorecard Golfing” is just a preview.  

Wishing you a very Happy Holiday and New Year!




Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Alignment of Ever Shrinking Budgets in Federal, State and Local Government

According to Josh Kahn, the Federal, State and Local government agencies are facing austerity, uncertainty and the need for accountability and transparency now more than ever. Josh Kahn, a Solution Specialist  Director at Oracle, and James Antisdel, Manager at KPMG (formerly with Deloitte Consulting), joined me for a podcast to discuss using Oracle Hyperion Profitability and Cost Management to align the ever shrinking budgets in government. Both James and Josh have a deep knowledge of and practical experience with the US Public Sector, particularly in government agencies.

We started off talking about the issues that government agencies are currently facing. Josh indicated that the agencies are facing many similar issues as the private sector in that transparency and efficiency are needed to help combat uncertainty and austerity. He felt that creating and using shared service centers enables organizations to provide a common product or service to a number of other organizations, thus increases efficiency and reducing effort. But without robust cost models to capture, analyze, and report on costs, it is difficult to measure and account for the new efficiencies, and equally difficult to explain the shared service charges.

So, I asked Josh what the barriers or limitations were to accomplishing this challenge. Josh explained that there are really three categories of limitations:

1) Legacy cost models are generally spreadsheet based. They rely on highly manual processes, lack transparency, lack a robust reporting solution and generally make analysis very difficult.
2) Data governance and quality. Many solutions rely on data that is sourced from disparate systems and commonly rely on data requests that require labor intensive processes and error prone manual transformation.
3) Cost models are generally kept simple.  Simple models limit analysis such as transaction level costing and commonly require a delay in producing results — reducing the usefulness of data because it is likely old and irrelevant due to the delay

According to Josh, a good enterprise-level costing system like Hyperion Profitability and Cost Management can address all three of these limitations.

Next, James and I discussed how he had seen Hyperion Profitability and Cost Management used by his Federal, State and Local government customers. He told our listeners that he had seen it used for:

+ Cost allocations
+ Customer bill calculation/generation
+ Service center performance management
+ Assisting with planning and budgeting
+ Financial and operational analysis
+ Decision making

I was very impressed with the versatility of this application.

Digging deeper into a costing model for government, I asked James to tell us what an agency could hope to gain from implementing a costing system. James told our audience  that “development and management of the cost model can provide greater insight into the full cost of services provided to an agency’s customers, and can enable more informed decisions aimed at optimizing resources, increasing value, improving performance, gaining efficiencies, and reducing costs."  Furthermore he explained that Deloitte’s customers, armed with this new information, can begin taking next steps to improve business processes and work to refine their model to gain more insight into particular areas that offer opportunities for savings and improvements.  As a result, an agency will have the capability to accurately identify current and projected costs, formulate and justify budgets, and support operational process improvement and managerial decision making.

James emphasized that an enterprise costing solution can enable an agency to more readily pinpoint cost variances at a detailed-level and be far more responsive to requests for information from customers and other stakeholders.  It is a powerful analytical tool that can be used to support an agency in becoming transparent, efficient, and a Shared Services Center of Excellence.

So it seems that a powerful, versatile,  enterprise-level costing system can go a long way in helping to align the ever shrinking budgets in Federal, State and Local Government.

To listen to the entire podcast, click here
To learn more about Hyperion Profitability and Cost Management solution, click here

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

Evaluation version released for Smart Metadata Creator System for Hyperion

The evaluation version for Smart Metadata Creator System for Hyperion is now available to Hyperion user & consulting community for evaluation purpose.

The full version of the program provides a host of benefit to create metadata for Hyperion Essbase / Planning including and not limited to:

  • Parent Child relationship from hierarchy
  • Intelligently filling the aggregation properties for Accounts Hierarchy
  • Identification of possible Implicit Share instances within the metadata
  • Validation of data storage property against all members and correcting the values wherever possible conflicts are identified
  • Support for EPMA & Classic mode
  • Intelligent property fill for accounts / measures type of dimension
  • Validate & auto-correct the plan-type property value errors
  • Option for textual output for identified metadata errors
  • Now the technical assistance for metadata property fill or metadata load is required in very few instances (like saved assumption)
  • Flexibility of multiple functions based on requirements
  • File validation / check utility checks & identifies the possible causes of pain-points for already completed metadata load file

If you are interested to obtain the evaluation version (restricted functionality) of the utility,  contact me directly or through the link here.

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.