After an acquisition by a venture capital firm in late 2016, this company needed a long-term solution for global consolidations, reporting and financial planning and analysis. Previously, the corporate finance and FP&A organizations leveraged an Oracle Hyperion environment. Therefore, the company selected Hyperion Financial Management (HFM) and Essbase to maximize knowledge and workers’ acceptance of the new system across 56 countries with 41 currencies in North America, Europe, Asia and South America. The objective of the project was to install, configure and implement HFM, Essbase, Hyperion Financial Data Quality Management Enterprise Edition (FDMEE) and Oracle Data Integrator (ODI) to support 240 entities in approximately 25 distinct general ledger (GL) systems, including JD Edwards, SAP, Microsoft, and other various systems.
To secure a successful implementation, the company needed:
- A team of professional, certified Oracle specialists that were familiar with their previous environment
- A company that offered world-wide reach to map 25 different GL’s in the 56 countries around the world
- To minimize risk of users rejecting the new system due to poor training or support during the critical Go-Live phase
- To reduce the time to go-live by utilizing a datacenter that would allow them to begin building the solution immediately
The company turned to Key Performance Ideas, an Oracle Gold Partner with 100% of their consultants certified in Oracle Hyperion. Key Performance Ideas leveraged the same consulting team that helped develop the company’s previous environment to maximize transferable knowledge, speed ramp-up, and provide well known and well aligned project team personalities. Additional consultants were provided through Key Performance Ideas’ world-wide reach in London and Singapore that assisted each different entity locally with mappings. Additionally, with Key Performance Ideas S.M.A.R.T. (System Maintenance and Remote Troubleshooting) team of Hyperion Administrators around the world, the company utilized localized support to properly train end users onto the new system. Lastly, Key Performance Ideas also provided an Infrastructure Team to start building the solution immediately via a “sandbox” environment that prototyped the solution options during the requirements definition phase of the project.
The company and Key Performance Ideas partnered and implemented the new solution for over 50 HFM users and 100 Essbase users. The solution included the consolidation of financial data for three entity hierarchies containing approximately 240 entities, including legal, management and currency conversion for 41 currencies. The company has ad hoc financial reporting capability and drill-through from HFM to FDMEE. Additional detailed drill-through is available via Smart View.
The company has six years of historical GL data and account dimensions that include the following hierarchies:
- Income Statement with approximately 500 base level accounts
- EBITDAR with approximately 500 base level accounts
- Balance Sheet with approximately 200 base level accounts
- Roll-forwards with approximately 50 base level accounts
- Statistical/Metric with approximately 200 base level accounts
- Cash flow with approximately 50 base level accounts
The Essbase cube utilizes EPMA to manage metadata and FDMEE to sync data from HFM, including Actual and Forecast. The source dimension maintains adjustments of GAAP, Normalized and Management views of the income statement. And, FDMEE provides the data load from HFM, including intercompany into designated entity members.
By partnering with Key Performance Ideas, this company has a global consolidations, reporting and financial planning and analysis solution to support over 150 users across 56 countries. The solution was delivered quickly by leveraging a “sandbox” environment and with Key Performance Ideas’ ability to provide world-wide localized support to assist in development, as well as knowledge transfer to end users. Unlike other implementations that can be derailed due to poor requirements documentation or improper issues escalation, with Key Performance Ideas the company deployed a fully enriched consolidations and reporting solution and has achieved the following benefits:
- Reduced consolidation, close, and reporting cycles
- Delivery of timely results internally and externally with improved transparency
- Decreased compliance costs with a single version of the truth
- Improved end user acceptance and confidence in the data and financial results