Oracle Hyperion Financial Management (HFM)

Oracle Solutions

Contact Us

If you need more information on any of our products or would like to arrange a consultation, please feel free to email or call us and we will endeavour to respond to you as quickly as possible.

info@codec.ie

+353 (0)1 603 4300

Oracle Hyperion Financial Management (HFM)

What is Hyperion Financial Management?
Oracle Hyperion Financial Management is a packaged application that combines data in multi-dimensional ‘cubes’, where customers can perform audit trails and robust reporting and analysis in real-time, with the supporting reports stored relationally. Oracle’s Hyperion Financial Management delivers global data collection, financial consolidation, reporting and analysis in a single highly scalable solution. This application also meets global regulatory requirements and reduces the cost of compliance.

Oracle Hyperion Financial Management includes a multi-dimensional business intelligence (BI) dash boarding tool, a purpose-built financial reporting tool for construction of financial statements, and a Microsoft Office add-in providing real-time consolidation and reporting functionality in a Microsoft Excel environment – an environment comfortable to most finance users.

Complete debit/credit audit trails are created automatically when consolidations are run; providing a ‘single version of the truth’ – one view of financial and operational results, integrated from multiple systems, without delays. This in turn can improve an organisations consolidation and reporting process and reduce internal control risks.

Upon consolidation, what-if scenarios and pro-forma financial statements can be easily created to evaluate the financial impact of different roll-ups and hierarchies (such as corporate tax/legal analysis, management and local reporting analysis, and disclosure management activities leading to financial statement publishing and XBRL-based filings). Additionally, rules for eliminations, foreign currency translations, minority interests, etc. are executed automatically.

The packaged functionality of Oracle Hyperion Financial Management reduces customisation requirements so it can be deployed easily and delivers benefit quickly. Designed to consolidate information from multiple sources, Oracle Hyperion Financial Management works with existing Oracle and non-Oracle systems, data warehouses, and other sources.

What does Hyperion Financial Management provide to the end user?  

  • Reduction in consolidation, close, and reporting cycles by days or weeks by minimising the need for duplicated data entry or to double check the results, delivering timely results internally and externally; allowing more time for strategy management.
  • Cut compliance costs by delivering a single version of the truth through the any web-based platform; improving internal and external transparency.
  • Reduce control risk with compliance audit trails: Oracle Financial Management produces audit trails, workflows, internal review and certifications, controls, and validations so you can be confident in your numbers.
  • Conduct in-depth analysis of key performance indicators and operational metrics easily. Financial Management application has features such as flexible scenario ‘what-if’ analysis; therefore providing the ability to consolidate and report on all financial budgets, forecasts, and plans.
  • Identify new sources of profitability and cash flow in terms of company, product, brand and customer segment.
  • Anytime, Anywhere access to information: because the financial management application is web-based, users can input consolidate, and access global financial data securely at any time from any location using a standard browser.

Oracle Hyperion Financial Management provides multicurrency translations and minority interest calculations, delivering large organisation with quick and cost-effective out of the box data information. It also incorporates accepted accounting principles, International Financial Reporting Standards, and local statutory requirements to ensure report accuracy and compliance.

If you need more information on Oracle Hyperion Financial Management (HFM) or would like to arrange a consultation, please feel free to email info@www.codec.ie or call us on 01 603 4300.

Related Articles and Events

How Oracle Hyperion Financial Management can help Ireland’s Leading Organisations

Studio Manager

Finance is the language of business. Proper analysis and understanding of financial statements is crucial to the success of a business. Efficient financial analysis takes the guesswork out of planning and replaces it with opportunities for effective and strategic decision making. In today’s business climate, where rapid change and challenges

Read More