Oracle and Walker Inc. next week plan to announce a joint effort to create an analytic application package that will help companies predict business performance.
The companies will combine Oracle's Financial Analyzer and Walker's Financial Consolidation applications to create the Performance Management Suite. The suite will run on top of Oracle Express OLAP server and will be bundled with it. Oracle and its alliance partners will sell the software.
The Performance Management Suite takes accounting and operations data to perform financial modeling, what-if scenarios, budgeting, and forecasting. The suite monitors performance indicators and projects how internal actions and external factors will affect a company's results. "It gives you fact-based reporting, rather than gut-based," says David Menninger, VP of product marketing for Oracle's OLAP division.
Dataquest analyst Jose Santa Ana says the suite will give financial analysts a shrink-wrapped solution where in the past they had to build their own using spreadsheet models, macros, and other tools. Oracle officials said the suite will differ from analytic applications from PeopleSoft and Hyperion Solutions because the Walker Financial Consolidation application lets companies pull data from a number of sources, including spreadsheets, outside market data, and Oracle, SAP, and PeopleSoft applications. And the Oracle Express server provides a central repository for data.
The suite will be available in the first quarter of 1999.