Its all about data. Data is the key for Management reporting. It is not the availability of data that is of concern, it is the availability of the right data, at the right time, and the right version. The focus of the Finance Professionals should be on making decisions based on accurate data and not to be spending sleepless nights in reconciling data across different systems. Every finance professional needs confidence in the data to be able to perform their activities efficiently.
We provide solutions which enable clients to efficiently utilize the investments in EPM solutions. Our pool of talented consultants, both functional and technical, provide solutions based on leading industry practices. We provide integrated solutions with efficient drill back functionality using out of the box functionalities as well as customized solutions to meet the client requirements.
With non-integrated systems the sets of data looks like this:
Different sets of data telling different versions and showing different numbers supported by human interventions.
We deliver solutions to ensure data is reliable.
Our solution is based on the world’s leading EPM technology using Oracle’ Hyperion Enterprise Performance suite of Products.
More about Oracle Hyperion Enterprise Performance Management
Enterprise Performance Management (EPM) is the process of monitoring performance across the enterprise with the goal of improving business performance. An EPM system integrates and analyzes data from many sources. Integration of data ensures one version of the truth.
EPM – Domains
There are several emerging domains in the EPM field
- Strategy Formulation
- Business Planning and Forecasting
- Financial Management
Based on the mission and vision of an organization, different strategic needs may drive how EPM domains are leveraged and promoted within an organization.
In recent years, organizations embed formal approaches to risk management to address market opportunities that organizations pursue. In this way strategy is aligned, performance is predictable, and executives can make better business decisions.
Executives live in a financially driven environment, where operational processes are traditionally a means of organizing resources inside the company and its value chain and employees are the responsible actors to execute those processes. The strategy gap that some industry watchdogs have noted is real and growing. Innovative technologies provide one approach to collapsing this gap and allowing corporate strategic outcomes to be fully realized and risk management programs to be fully described.
Business Planning and Forecasting
Traditionally Planning and Forecasting is done using various spreadsheets. The advantages of spreadsheets is the convenience and flexibility. Numbers can be changes with change in formulae or manually overridden. So Simple.
But that’s the point. From an individual perspective this is appealing. But think from the top Management stand point. Not sure how numbers are made up of. Only the individual who created the plan knows and can explain. On top of that we have human errors. When plans are consolidated by linking of spread sheets it creates a whole new set of problems. With Oracle Hyperion Solution the planning process can be made seamless. It enables transparency and improved efficiency in:
- Data transformation – complete audit trail of the data transformations and mappings.
- Planning process – Driver based planning process where the numbers are derived based on set and approved processes with very less individual discretion.
- Speed in creation of plans and forecasts – with proper use of technology and with process changes forecasts can be more frequent with automatic changes based on change in circumstances.
Oracle Hyperion Financial Management enables seamless consolidation process. Complicated exchange difference / Minority or Non – Controlling interest calculations can be automated.