Author: Ron Woodlock, Performance Architects
I presented “Implementing an Integrated Planning and Consolidation Process Solution” at the Oracle Application Users Group (OAUG) COLLABORATE 2015 conference in Las Vegas this April. I am honored that this session was voted one of the highest rated sessions of the conference by the conference attendees. As a result of this ranking, the OAUG’s team asked me to present this session again during their “Webinar eLearning Series: Best of COLLABORATE15.” I wanted to provide a preview of some of the topics I’ll be covering during this webinar. Here is a link to the registration page for the webinar so that you can attend the session.
Overview
In this session, I will explore the benefits of implementing Hyperion Financial Management (HFM) in conjunction with Oracle Hyperion Planning and demonstrate how automated data synchronization during the financial close can help provide a single version of the truth and shorter closing cycle times. Before and after comparisons provide clear evidence of the value proposition of this type of implementation.
Historical Context
The practice of managing an organization using data or metrics has been evolving for 40 years. Universal principles have solidified and include:
- Business strategy needs to be defined in financial terms or “outcomes;”
- The drivers of successful “outcomes” need to identified and managed; and
- Transparency of outcomes and drivers is provided to everyone that needs the information
Oracle’s Enterprise Performance Management (EPM) or Hyperion suite of applications enables organizations to efficiently apply these principles. Oracle EPM provides functionality that enables the configuration and automation of integrating data between applications. In this case study we’ll explore techniques to share actual data between the financial close process and planning application.
Solution
Our overall objective is to create a repeatable process that integrates data between two business processes: the financial close and budgeting and forecasting. This objective can be further broken down as:
- Share data / dimensions between applications
- Automate standard data interfaces
- Define business rules and automate synchronization between applications
- Wrap all of this together in a repeatable close process
This solution combines technology and process redesign to significantly enhance the financial close and planning processes.
Looking forward to having you join the webinar!