Consolidation and Financial Reporting on Strafford's Private Cloud
Hyperion Financial Management (HFM) is Oracle's best-of-breed financial consolidation and reporting application. Oracle HFM provides finance managers the ability to quickly consolidate and report financial results, meet global regulatory requirements, reduce the cost of compliance, and deliver confidence in the numbers.
Utilizing the most advanced technology, Oracle HFM is built to be owned and maintained by finance users and frees them from the drudgery of manual spreadsheet consolidation, allowing them to focus more of their time on analytics. However, owning the application is one thing...maintaining it from a technical standpoint is another.
Strafford Technology combines HFM specific managed services with private cloud hosting that allows the Finance Department to Focus on Finance.
How can our Managed Application Hosting service improve the financial process within your organization?
Here are 5 reasons:
1 – Upgrade to the Latest Release, Stay on the Latest Release
Strafford can migrate your existing application to the cloud while also upgrading your software to the latest version available. Your existing physical implementation will remain in place until your team is fully trained and comfortable using the cloud, making the transition as smooth and painless as possible. When you are ready, you can turn off your old servers and stop worrying about them: no more on-site hardware or software upgrades.
With full support of the range of Hyperion applications; including Financial Data Quality Management (FDM) for integrating data and GL mapping from your General Ledger application, our Private EPM Cloud offers the full functionality of an on-premises version… but within a cost-effective, fully supported and managed environment.
2 – Help Desk and Support
Oracle HFM is an application that requires specialized support.
Finance organizations typically have only a few or in most cases only one person who can support the application.
Strafford has a strong team of Hyperion Financial Management experts supporting our clients on the cloud. Our application Help Desk and Support team fully assists your group, ensuring your ability to meet your goals and deadlines. When the pressure is on, you will have the peace of mind that Strafford’s experienced consulting team can come to your aid whenever you need help.
Strafford’s Help Desk is staffed by Oracle Hyperion experts who can provide you with timely and insightful answers. Whether it’s a small application design change or custom report development, our team of consultants has been supporting clients with HFM since the product was first introduced. We know finance. We know Hyperion.
3 – Built-in Disaster Recovery Strategy
Once your application has been migrated to Strafford’s cloud, you’ll have an automatic disaster recovery plan in place. Your installation will no longer reside solely in your facility or on your network. In the event of a network or power outage or catastrophic event in your facility, the cloud service is still available to you from any internet-connected computer. Our cloud server storage and backup data is stored on the Amazon S3 storage architecture. Data is dispersed securely among multiple availability zones and geographic locations, allowing us to restore and rebuild your servers in a different datacenter if needed.
4 – Flexible Costs
There are no up-front hardware or installation costs with the cloud, and you’ll never need to worry about upgrading or moving your HFM implementation to new hardware again.
Whether you are moving your existing on premise HFM application to our cloud (BYOL-bring your own license), upgrading to the latest HFM version (while transferring your application data), or deploying HFM in the Cloud for the first time and need to purchase or rent the software, we offer a range of pricing options. We can include the entire amount of development, hosting, software and maintenance costs into a single CAPEX fee or through an OPEX fee with yearly billing.
5 – Managed Backup and Restore Process
Backing up Oracle HFM is a unique endeavor. What happens if a partial restore needs to be done during the close process? Finance departments are usually nervous about losing data or a few days of work, and would be less stressed if they knew an expert in the field managed the restore.
Our cloud service offers a completely managed backup and data restore process: we manage the HFM and system backups. Our backup procedures are customized for HFM and are integrated into our Network Monitoring platform. To clearly demonstrate our world-class backup process, we regularly restore production data to development and or test servers. One cannot put a price on your finance department’s peace of mind, but we can!
Interested in migrating from Oracle HFM? Strafford can help.
Strafford offers the full suite of Hyperion products within a Managed Hosting Service. The net result of having a partner who provides an optimized, fully supported, managed private cloud is that Finance can then stop worrying about the status of their backups, enhancements, patches, performance monitoring or help desk issues. Our EPM cloud give you more time to analyze results and make smart decisions, and less time managing your finance ecosystem.