Cloud Hosting Benefits

Hyperion Financial Management (HFM) In The Cloud

A Reliable, Secure Managed Application Hosting Service from Strafford

Oracle’s Hyperion Financial Management (HFM) 11.1.2.4 is a financial consolidation and reporting application offering advanced Web technology to Finance users. It provides finance managers the ability to rapidly 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, 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 a private cloud offering that allows the Finance Department to Focus on Finance. How can our Managed Application Hosting service for Hyperion Financial Management improve the financial process within your organization? Here's a few ways how...

Always Current, Always Updated

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 hosted HFM environment offers the full functionality of an on premise version… but within a cost-effective, fully supported and managed environment.

Benefit from Hyperion Support Services

HFM is an application that requires specialized EPM support services. 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 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. 

Same Features and Functionality

Hyperion Financial Management in the Strafford cloud provides all of the same functionality as the on premises version. Your applications are fully transportable to and from the cloud servers. Data integration is easily set up and seamless to on premise or other cloud based ERP as well as other data sources. Smart View integration into Excel is fully supported along with all of the applications including Financial Data Quality Management (FDM) and FDMEE.

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.

Flexible Pricing Structure

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.

Managed Backup and Restore Services

Backing up 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!

Risk and Compliance Support

Our Annual Application Review process provides complete analysis and reporting on your end user security, system security, backup validation, disaster recovery and the functional finance process. This document and the recommendations provided could be used during the financial audit process in addition to providing peace of mind for the management team. We're also available to consult with you around compliance standards such as IFRS and ASC.

In addition, Amazon maintains a complete list of industry certification and compliance standards, including SOC, HIPAA, PCI, ISO 27001and ITAR certification information.

Network Monitoring

Strafford offers 24/7 real-time monitoring for our hosted HFM. Every 3 minutes, our network management team monitors over 200 key metrics on each Hyperion server environment. Whether it is a developing disk space issue or a business rule overtaxing the server, our team of experts will become aware of and correct it before anything impacts the user community.

Web-based Self-service Portal for Clients

One of the most persistent inconveniences facing internal IT departments is managing user authentications, forgotten passwords, and required password changes for compliance. Strafford has developed a web-based password self-service tool that enables users to reset their passwords independently if and when needed without having to contact your IT department.

A Stable, Reliable and Secure Cloud Platform

Strafford Technology uses the Amazon Web Services (AWS) cloud to provide a robust, stable and secure environment for our managed HFM cloud hosting services. AWS is the world’s leading provider of cloud infrastructure-as-a-service, and as an AWS Advanced Consulting Partner, Strafford has demonstrated a high level of expertise in designing, building and managing solutions on the AWS cloud.

Strafford offers the full suite of Hyperion products within a Managed Application 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, and can then Focus on Finance.

Client Testimonial

"From design sessions, to requirements gathering, to design documents for the different applications...[Strafford] worked with us until we went live...it was a very successful implementation."

~ Paul, Corporate Controller