Welcome to the Strafford Blog

Oracle FCCS: Where did my Income Statement hierarchy go?

Posted by Deborah Jelley

Jun 14, 2017 11:29:37 AM

 

Who wants “Best Practice Consolidation Out of the Box”? You do (along with a large bowl of sea salt caramel ice cream; but I digress). Am I right? Wouldn’t it be just peachy to have best practice for the consolidation cycle preconfigured for you? Yes, yes it would. It’s a good thing. Don’t get all snarky about “Best practice is just another hackneyed marketing term.” Give this post a serious eyeball before you swipe left, or click away; then if you must go out for ice cream, I won’t stop you.   

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Topics: consolidations, financial reporting, Hyperion, oracle, Hyperion Financial Management

The close cycle cut down to size: 6 tips for trimming days off your consolidation process!

Posted by Deborah Jelley

Jun 6, 2017 11:37:15 AM

 

The close cycle has unique characteristics for every organization, but key to pruning the length of time spent on it is the practice of continuous improvement. Continuous improvement is defined as an ongoing effort to improve products, services, or processes.  These efforts can seek “incremental” improvement over time or “breakthrough” improvement all at once.  We recommend incremental improvement through a constant feedback loop that in turn drives efficiency, or the reduction and elimination of sub-optimal processes.  Most organizations don’t have the time to spend on breakthrough improvement, so chipping away at it is best.

We are going to lay out some strategies you can apply to overhauling your current process. As your company grows, you can implement a consolidation system like Oracle’s Hyperion Financial Management (HFM) to automate many repetitive steps.  We won’t go into detail as to why you want to speed up the monthly close cycle; suffice it to say, time is money. 

Read on for six tips on trimming days off your consolidation process. 

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Topics: consolidations, financial reporting, Hyperion, oracle, Hyperion Financial Management

6 Tips for making your Hyperion Financial Management Consolidation reporting a breeze

Posted by Deborah Jelley

May 10, 2017 11:07:08 AM

Does it take forever to get through the monthly and quarterly close? Do you have to twiddle with the reports each time to get them ready for review? Does it make you wish you had a different job?

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Topics: consolidations, financial reporting, Hyperion, oracle, Hyperion Financial Management, erp

Roadmap to Planning and Budgeting Efficiency

Posted by Jamie Carpentier

Apr 26, 2017 11:26:38 AM

 

A Roadmap to Budgeting and Planning Efficiency

  • You Are Here. Finance has to focus on margin and earnings performance, while preparing for economic and organizational challenges. There are lots of issues that prevent Finance from efficiently organizing and securing the vast amounts of data required for metrics that are used in strategic decision-making.
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Topics: financial reporting, epm, Cloud Hosting, Hyperion, oracle, EPM in the Cloud, erp, cloud erp, enterprise resource planning

Static vs. Rolling Budget: Which is right for you?

Posted by Michele Morrill

Apr 12, 2017 11:29:33 AM

Static budgets and rolling forecasts are different approaches to achieving a similar goal - predicting the future finances of an organization. While static budgets continue to be the most common choice, rolling forecasts provide features that work better for some companies. The ideal budgeting approach largely depends on the business model. The size, growth-rate, and industry fluctuations of your organization can help you determine the ideal budgeting method.

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Topics: forecasting, budgeting, business intelligence, planning, epm

Questions to ask a Finance consulting firm implementing your new Planning and Budgeting application

Posted by Michele Morrill

Mar 30, 2017 10:39:54 AM

What questions should you be asking when selecting a Finance consulting firm to implement your new Planning and Budgeting application? And why is it important to know the answers?

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Topics: forecasting, consolidations, budgeting, financial reporting

Fixes for the Top 5 Planning & Budgeting Issues

Posted by Jamie Carpentier

Feb 21, 2017 12:35:35 PM

 

Fixes for the Top 5 Planning & Budgeting Issues

Your top priority in Finance is margin and earnings performance. The Finance team must prepare for organizational challenges that could occur at any time by focusing on working capital management.

There are many issues that prevent Finance from efficiently organizing and securing the vast amounts of data required for metrics that are used in strategic decision-making.

Let’s deal with some of them head on!

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Topics: budgeting, financial reporting, epm, Cloud Hosting, Hyperion, oracle, Hyperion Planning, EPM in the Cloud

Cloud ERP. Cloud EPM. What's the Difference?

Posted by Jamie Carpentier

Jan 24, 2017 9:05:21 AM

 

Here’s a quick take on ERP and EPM Cloud, and how they work together to help improve your business.

ERP Cloud is an enterprise applications platform that enables the rapid deployment of streamlined transaction-based business processes across enterprises of all sizes.
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Topics: financial reporting, epm, Cloud Hosting, Hyperion, oracle, EPM in the Cloud, erp, cloud erp, enterprise resource planning

Top 8 Reasons to Consider Cloud Enterprise Resource Planning (ERP)

Posted by Jamie Carpentier

Jan 11, 2017 11:05:42 AM

Here is what you should know about Cloud ERP:

  1. Organizational Efficiency – You have lots of different software for different processes. The legacy systems you are using as a “system of record” don’t have the same data structure, so the data doesn’t easily work together. Cloud ERP integrates these systems so that every business function references the same consistent data model. That means a single, unified systems platform to execute business processes against to train on, and to efficiently leverage throughout the business.
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Topics: consolidations, financial reporting, Cloud Hosting, Hyperion, oracle, erp, cloud erp, enterprise resource planning

Consolidating and Closing in the Cloud – Is it right for you?

Posted by Michele Morrill

May 24, 2016 12:31:41 PM

If you’re not bogged down by the month-end close, by now you must have heard the buzz about Oracle EPM Cloud. Oracle has been hyping their cloud products for quite some time now, the first EPM related cloud product, PBCS (Planning & Budgeting Cloud Service), was introduced in 2014. Now in 2016, other EPM products are starting to pick up steam.  As with most new products it takes some time for them to catch on.

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Topics: consolidations, financial reporting, epm, Cloud Hosting, Hyperion, oracle, hfm