Michele Morrill

Recent Posts

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: Budgeting and Forecasting, Finance Best Practices

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

Do you know what questions should ask when selecting a Finance consulting firm to implement your new planning and budgeting application? In order to have a successful implementation that is delivered on-time and on-budget, here are some important questions you should know the answers to.

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Topics: Consolidation and Close, Budgeting and Forecasting, Financial Reporting, Oracle PBCS, Finance and Technology Staffing

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, Oracle PBCS (Planning & Budgeting Cloud Service), was introduced in 2014. Now in 2016, other Oracle Cloud EPM products are starting to pick

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Topics: Consolidation and Close, Financial Reporting, Cloud Hosting, Hyperion Financial Management (HFM), Oracle FCCS, Oracle Products

Hyperion Planning: A Better Choice Than Excel-based Planning

Posted by Michele Morrill

Dec 11, 2015 2:52:18 PM

A “day in the life” of an Excel-based planning and consolidation process resembles “spreadsheet hell”. It happens when finance teams are constantly sending and receiving files, trying to collate data, and assembling reports for management. Hyperion Planning can alleviate the headaches and unite your team.

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Topics: Budgeting and Forecasting, Hyperion Planning, Oracle PBCS, Finance Best Practices

Strafford Insight: Next Generation Financial Reporting

Posted by Michele Morrill

Dec 3, 2015 11:04:15 AM

Is it possible to create a more effective financially intelligent organization?

Strafford Insight provides managers and executives access to a whole range of EPM information, functionality, and pre-built financial dashboards and reports.

A cost effective, finance-owned management reporting tool, it contains Balance Sheet, P&L statements and Cash Flow reports and Waterfall, Trend, Portfolio and Benchmark dashboards. All reports are based on Financial Reporting Best Practices and provide rich drill-down, analysis, alerts, KPI’s and rankings by entity, channel, customer, market, or any other dimension available in your EPM application.

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Topics: SAP Budgeting and Planning, Hyperion Financial Management (HFM), Hyperion Planning, Cloud EPM, Cloud ERP

Reports: Being All Things to All People

Posted by Michele Morrill

Oct 30, 2015 1:51:28 PM

How can reports be all things to all people?  A key part of a Planning, Budgeting and Forecasting system – or a Reporting and Financial Consolidation system – is reports.  And while there is always a balance between customized or canned reports in any EPM project, a more efficient balance is achievable.

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Topics: Consolidation and Close, Budgeting and Forecasting, Financial Reporting

Financial Reporting – Customized vs. Canned

Posted by Michele Morrill

Oct 14, 2015 3:32:45 PM

In any Enterprise Performance Management (EPM) project, as the Financial Reporting and Consolidation pieces are being scoped, a dilemma often faced by the project team is estimating how many reports to provide to the user, and how personalized or customized each report should be. This can be exponentially more complex when you consider the various user groups who may need access to the data, and the original source of the funds for the project. 

It is a particularly acute question when working with a planning, budgeting and forecasting project or a reporting and financial consolidation effort.  Regulatory requirements must be met, yet how valuable are the reports that are currently in use? How often are they used?  Financial reporting requirements vary widely. Developing individual reports can be time consuming and expensive, whether that effort is provided by an in-house team of experts or an outside resource – maybe a Hyperion Planning consultant or an SAP BPC consultant.  Reporting self-service is an option, but trying to be “all things to all people” can generate large volumes of developed reports, which can be a management and maintenance nightmare.

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Topics: Financial Reporting

Strafford Undergoes SOC 2, Type II Examination

Posted by Michele Morrill

Oct 2, 2015 9:25:09 AM

Strafford Technology recently underwent a Service Organization Control 2, Type II examination. The resulting CPA’s report states that Strafford management maintained effective controls over the data security of its Hyperion Managed Application Hosting solution.

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Topics: Cloud Hosting

Considering a Daily Time Dimension – Pros and Cons

Posted by Michele Morrill

Sep 25, 2015 2:28:17 PM

There are some business cases where a daily time dimension can be helpful, essential, or even required, but many clients shy away from a daily time dimension for a variety of reasons.  Regardless of the chart of accounts used or the planning, budgeting and forecasting required, a daily time dimension can add breadth to the information and promote more timely responsiveness under the right circumstances.

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Topics: Financial Reporting, SAP Budgeting and Planning, Cloud ERP

Migrating Oracle Hyperion Enterprise to the Cloud

Posted by Michele Morrill

Sep 22, 2015 3:03:46 PM

Are you in need of a Hyperion Enterprise environment that is fully supported at the application and system level? Would you rather use the web accessed application that you have without worrying about maintaining it, backing it up, or ensuring that your hardware platform is stable?

Strafford Technology offers a low cost hosting option for Hyperion Enterprise that allows you to utilize the application's functionality via remote access while also giving you direct Smart View access from within your local spreadsheets. Strafford's solution provides the latest patched version of Hyperion Enterprise with no upfront costs and simple monthly maintenance, and offers complete application support for your Administrator, power users and end users.

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Topics: Cloud Hosting