5 Ways to Improve Your Month End Close Process

Posted by Adib Khartabil

Jul 18, 2018 1:50:00 PM

The three legs to the stool: People, Process and Tools. This is borrowed from ITIL* (What is ITIL?) and is a set of detailed practices for IT service management (ITSM) that focuses on aligning activities with the needs of business, or in this case improving your month end close process. These practices can be applied to any activity by

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Topics: Consolidation and Close, Financial Reporting, Finance Best Practices

Oracle FCCS Q2 2018 Updates – See What’s New

Posted by Pam Gazley

Jun 28, 2018 11:39:16 AM

We are committed to keeping our Oracle clients updated on Oracle Cloud product features and enhancements. In case you missed it, here's a recap of the Q2 2018 Oracle FCCS Updates.

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Topics: Consolidation and Close, Financial Reporting, Oracle FCCS, Oracle Products

Oracle FCCS – What’s New: Quarterly Recap

Posted by Pam Gazley

Mar 27, 2018 11:57:33 AM

We are committed to keeping our Oracle clients updated on Oracle Cloud product features and enhancements. In case you missed it, here's a recap of the Q1 2018 Oracle FCCS product announcements.

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Topics: Consolidation and Close, Financial Reporting, Oracle FCCS, Oracle Products

The 11.1.2.4 HFM Features Organizations Love

Posted by Deborah Jelley

Aug 18, 2017 1:29:00 PM

 

Bullet Train Your Financial Close Process - HFM Features 11.1.2.4

Oracle has worked hard on improving HFM features, specifically consolidation times and performance.  We’ve posted tips on how to reduce your financial close process time, by altering or adjusting your business process flows. But this is a physical manifestation of improvements to the actual consolidation cycle.

HFM Features You're Sure to Love

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

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

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: Consolidation and Close, Financial Reporting, Hyperion Financial Management (HFM), Oracle Products

6 Tips for Making Hyperion Financial Management Consolidation 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? If you answered "yes" to any of these questions, you are not alone. We've talked with hundreds of finance organizations who consistently struggle with Hyperion Financial Management (HFM) and their month end close processes. We've also helped hundreds of finance organizations improve the functions of consolidation and close, budgeting and planning, and financial analytics.

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Topics: Consolidation and Close, Financial Reporting, Hyperion Financial Management (HFM)

Roadmap to Finance Planning and Budgeting Efficiency

Posted by Jamie Carpentier

Apr 26, 2017 11:26:38 AM

 

What does the roadmap look like for your finance organization? Based on our experience working alongside finance teams and talking to clients, the roadmap below may sound familiar.

  • 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: Consolidation and Close, Budgeting and Forecasting, Financial Reporting, Cloud Hosting, Cloud 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

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