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

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

Should You Drill back to Your Source Data from Hyperion Planning

Posted by Deborah Jelley

Mar 2, 2015 2:32:12 PM

You know you want to.

Where did that $5,000 come from last month? What, you ask yourself, are the details behind that number you see before you on the web template? It’s something you need to know. It gnaws at you. Your finger is poised over your mouse or track pad. Your analysis would be that much more comprehensive and accurate if you understood all the details. You exhale and double-click on the link. You’ve done it… In Hyperion Planning, you’re drilling back to the source system against that number and its Point of View.

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Topics: Budgeting and Forecasting, Financial Reporting, Hyperion Planning, Oracle PBCS

Standardize your chart of accounts? Not that question again!

Posted by Deborah Jelley

Dec 2, 2014 4:28:36 PM

No Way!

Now you’ve done it: you’ve gone out and bought another company, and you have to figure out how to include the new information within a reasonable time-frame in your consolidation process. Your company already has an ERP (Enterprise Resource Planning) system in place, but so does your new company. Your stakeholders will soon be clamoring for data averaged for the past five years, including the new company results. All you can see on the horizon is 

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Topics: Consolidation and Close, Financial Reporting, Hyperion Financial Management (HFM), Hyperion Planning, Finance Best Practices

What is the impact of IFRS on your HFM or SAP BPC system?

Posted by Deborah Jelley

Nov 12, 2014 1:17:00 PM

Have you had to include IFRS (International Financial Reporting Standards) into Oracle Hyperion Financial Management (HFM) or SAP Business Planning & Consolidation (BPC) yet? Of course if your company operates internationally, you’ve been aware of the general recommendation to adopt IFRS since 2001; especially if your international finance teams regularly produce both US GAAP (Generally Accepted Accounting Principles) and IFRS reporting for consolidation purposes.  The US SEC (Securities and Exchange Commission) has not made a policy decision for US companies to adopt

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Topics: Financial Reporting, SAP Budgeting and Planning, Cloud EPM, Oracle Products

Get Enhanced Office Integration with Hyperion Smart View

Posted by Michele Morrill

Nov 3, 2014 9:28:00 AM

Most longtime users of Hyperion Enterprise are familiar with the Retrieve function. Retrieve allows you to integrate Microsoft Excel spreadsheets with Hyperion Enterprise databases. Working from within an Excel spreadsheet, you can easily access data from your Hyperion application and have the ability to analyze, manipulate, and report data in a widely used office tool.

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Topics: Financial Reporting, EPM Support, Cloud Hosting, Hyperion Financial Management (HFM), Hyperion Planning, Oracle Products

Value of a EPM Checkup a Year After Your System Goes Live

Posted by Deborah Jelley

Sep 3, 2014 9:00:00 AM

A Year Later…

So it’s a year after your new EPM (Enterprise Performance Management) system went live. You are preparing for the budget season and are wondering if your new system might need a little tune up. As with a new car where an oil change is recommended at 3,000-5,000 miles, it may be time to perform a checkup and make sure your EPM system is running as efficiently and effectively as possible. 

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Topics: Consolidation and Close, Budgeting and Forecasting, Financial Reporting, Cloud ERP, Enterprise Performance Management (EPM)

When Should You Invest In A New Budgeting and Forecasting System?

Posted by Deborah Jelley

Aug 8, 2014 10:54:20 AM

Budgeting and forecasting allow a business to plan accurately for its fiscal year. In a 2016 survey by Radius Global Research, it showed 57 percent of respondents were still relying on Excel for their budgeting—either standalone or with other systems. A budgeting and forecasting system (or process) that is manual is ineffective and inefficient. 

Is it time for a new budgeting and forecasting system?

Have you delayed your decision to invest in a new forecasting and budgeting system thinking that your existing Excel models are sufficient to the task, and that you have

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

Should You Link Finance or ERP Software to Your General Ledger System?

Posted by Deborah Jelley

Aug 1, 2014 10:57:00 AM

You work for a mid-range to large company and revenue has been declining and at the current month’s mid-point, you have to give a presentation to your management team on why this is happening.  You need an immediate update of your monthly reports, so you ask your financial analyst to get it done by early afternoon.  She looks so horrified and you wonder if you’ve

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Topics: Budgeting and Forecasting, Financial Reporting, Enterprise Resource Planning (ERP)