Oracle Extends Financial Performance Management Suite - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Software
News
4/8/2010
09:36 AM
Connect Directly
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Oracle Extends Financial Performance Management Suite

The first major EPM enhancement in two years delivers a host of new Hyperion features.

The Oracle Enterprise Performance Management (EPM) System release 11.1.2 announced yesterday is the vendor's first upgrade of its EPM portfolio in nearly two years. Despite the point-release billing, it stacks up as a major upgrade, adding new applications, new bundles and new core functionality for Hyperion and Essbase--though perhaps not all the functionality some might have expected.

Hyperion Planning enhancements include user-configurable workflows for common planning and forecasting processes and "zero-code" Web forms for creating task-specific data-entry and planning interfaces. The planning application's SmartView add-in has been upgraded to provide tighter integration with Microsoft Excel and Outlook. The goal of all these upgrades is to extend the reach of the planning system to a broader base of business users. Task steps supported in workflow, for example, show up in e-mail inboxes and can be managed entirely through Outlook.

The new EPM applications include Financial Close Management, Disclosure Management, and Public Sector Planning and Budgeting. The close management app expands existing Hyperion capabilities for managing and coordinating quarterly and annual financial consolidation processes. New data quality assurance features, for example, support data validation before the close process even begins. Extensive links into ERP systems ease access to core financial data, and a process task list is said to streamline and track the various steps in the financial close process.

"The idea is to centralize the overall close process, providing better visibility, coordination and predictability so it's not a period-end fire drill," said Hari Sankar, vice president of Oracle's EPM product management team, in an interview with Intelligent Enterprise. The Oracle Hyperion Disclosure Management application extends capabilities to handle statutory reporting to government agencies such as the Securities and Exchange Commission. The SEC and many of its counterpart agencies globally now require the use of XBRL (eXtensible Business Reporting Language) for computer-readable reporting. That requirement has complicated reporting, and many companies have outsourced the XBRL work to specialized publishers. The Disclosure Management application brings XBRL publishing back in house to save time and reduce cost.

"Disclosure Management handles all the XBRL mapping and tagging at the source level in Hyperion Financial Management and Essbase, so people in finance can easily author the disclosure documents and reuse those components from quarter to quarter," Sankar said.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Previous
1 of 2
Next
Comment  | 
Print  | 
More Insights
News
IT Spending Forecast: Unfortunately, It's Going to Hurt
Jessica Davis, Senior Editor, Enterprise Apps,  5/15/2020
Commentary
Helping Developers and Enterprises Answer the Skills Dilemma
Joao-Pierre S. Ruth, Senior Writer,  5/19/2020
Slideshows
Top 10 Programming Languages in Demand Right Now
Cynthia Harvey, Freelance Journalist, InformationWeek,  4/28/2020
White Papers
Register for InformationWeek Newsletters
The State of IT & Cybersecurity Operations 2020
The State of IT & Cybersecurity Operations 2020
Download this report from InformationWeek, in partnership with Dark Reading, to learn more about how today's IT operations teams work with cybersecurity operations, what technologies they are using, and how they communicate and share responsibility--or create risk by failing to do so. Get it now!
Video
Current Issue
Key to Cloud Success: The Right Management
This IT Trend highlights some of the steps IT teams can take to keep their cloud environments running in a safe, efficient manner.
Slideshows
Flash Poll