It’s time to dive into the new closed-loop solutions for financial close and disclosure management within the Hyperion Financial Close Suite.  There are several enhanced capabilities including Account Reconciliation Manager™ (ARM), configurable dimensionality in Hyperion Financial Management™ (HFM), Oracle® Financial

Management Analytics™ for executive visibility, and improvements within Disclosure Management™ for regulatory reporting. Let’s first take a look at ARM.

Reconciliationsare a major bottleneck in the close process for most organizations.  Ensuring completion and enabling audits are key requirements.  With the new ARM module now available, organizations can streamline the account reconciliation process for improved efficiency and significantly reduce audit risk.  In fact, ARM is now designed to manage global reconciliation processes across Balance Sheet, Consolidation, and Local GAAP.  Delivered as part of the Oracle Hyperion Financial Close Management™ application, the processes are all work-flow driven and auditable.

Additional details and benefits of ARM in include:

  • Complete process support
  • Very competitive V1 offering
  • 5+ early adopter customers
  • Balance integration using Oracle Hyperion Financial Data Quality Management™ (FDM) ERP integration adaptor for Oracle applications
  • Mapping features to summarize low-level balances to the level appropriate for reconciliation
  • Auto reconciliation of authorized zero balance accounts and balance comparison
  • Easy to use features for maintaining reconciliation assignments, including mass
    update and import capabilities
  • Configurable frequencies and unlimited levels of approval
  • Flexible formats adaptable to each type of account
  • Powerful filtering and ad-hoc reporting capabilities
  • Pre-built dashboards for monitoring status, aging, performance metrics, and compliance metrics

The enhanced configurable dimensionality in HFM provides the needed flexibility to address all statutory (e.g., IFRS) and internal reporting initiatives.  Analyzing an account by 5 or more dimensions is a common need. With, users are now able to create an application with up to 100 configurable dimensions.  Furthermore, provides improved dimensional conformity with Hyperion Planning™.  Additional details include:

  • Support for multiple applications in EPM workspace, multiple modules in an application and multiple documents or items in a module

Several benefits include:

  • Advanced menu navigation and overall screen layout
  • Improved Document Manager, Task List Management and Journals
    Module UI
  • Enhanced Member Selector, Data Grid Designer, and Data Form
  • Upgraded System Report creation and Point of View
  • Increased functionality of Consolidated Load and Extract

The configurable dimensionality of also enables full compliance with ever-changing statutory requirements.  HFM Starter Kits address reporting needs including sustainability reporting, IFRS and geographic-specific needs, e.g., Japan.  There is also Solvency II Reporting for insurance and Disclosure Management for XBRL compliant reporting.

EPM also has a new offering, Oracle Financial Management Analytics™ (OFMA)
that leverages Oracle Business Intelligence Enterprise Edition™ (OBIEE) for pre-built dashboards and analytics.  Users now have direct, native access to data in HFM and Financial Close Management.  Plus, the packaged analytics are configurable, extensible and enables CFO and controllers to leverage pre-built content.  Furthermore, an excellent improvement for performance visibility, OBIEE with OFMA enables mobile delivery of EPM data to finance executives and business users.

Finally, the new version for EPM addresses several needs within Disclosure Management.  Formula validation support is now available for XML- based reporting, including SEC, HMRC and XBRL and XBRL dimensions are tagged at the EPM data source level.  Plus, coming soon will be EDGAR format support for complete SEC filing creation.

EPM provides the following business value for the Financial Close and Reporting process for organizations:

  • Streamlines the account reconciliation process for improved efficiency
  • Significantly reduces audit risk
  • Provides flexibility users need to address all statutory and internal reporting needs
  • Enhanced, easier, and richer UX allows for easy adoption by business users
  • Improved (mobile) visibility into financial performance for executive users
  • Faster time-to-value with starter kits that address new industry/ geography specific statutory reporting

Join us next time as we review “What’s New in EPM Essbase and Essbase Studio”.

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