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Global Insurance Company Case Study

UPGRADING A GLOBAL HYPERION FINANCIAL MANAGEMENT ENVIRONMENT AND INCORPORATING NEW APPLICATIONS FOR ENHANCED CONSOLIDATIONS

The Company is a global health service company dedicated to helping people improve their health, well being, and sense of security. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident, and related products and services worldwide. The Company's 39,000 employees have capabilities in 30 countries & jurisdictions and more than 90 million customer relationships.

The Company's corporate Finance team needed to begin the upgrade of their Oracle Hyperion Financial Management application to 11.1.2.4, and foresaw an opportunity to improve their system with Financial Close Manager (FCM) and Financial Data Quality Management (FDMEE). The Chief Accounting Officer wanted to newly implement Account Reconciliation Manager (ARM), an FCM module, to enhance automations for the financial close and consolidation process The timing was ripe to upgrade all the Hyperion products, so, the organization wanted to make the ARM/FCM 11.2.4 environment the standard for all other Hyperion products, including Hyperion Financial Management (HFM), Essbase, and Hyperion Profitibaility and Cost Management (HPCM).

Solution

Drill-back capabilities would need to be greatly improved, however. In addition, performance as it related to integration with their Oracle E-Business Suites (EBS) needed enhancements due to excessive custom scripting. With corporate Finance executives watching, the project was expected to become the corporate Center of Excellence for Hyperion products globally.

Due to MindStreams's proven record of multiple Oracle Hyperion application implemetations for the company, as well as its close, long-standing relationship with Oracle, the Company chose MindStream to upgrade their global HFM application. MindStream asked to advise and manage a team of 8 resources in the process of aligning HFM, Essbase, and HPFCM with the ARM implementation. The project involved leads across the Finance team as well as a senior director of IT. All environments would need to continue its life hosted by Oracle's Private Cloud Hosting Services in order to maintain security and continue previous performance levels for enterprise critical applications.

A critical piece of the project was the upgrade to FDMEE with the new 11.1.2.4 system to provide more effective drill-back capabilities. MindStream took an approach that would leverage a combination/hybrid schema copy of relational repositories and Oracle's Life Cycle Management (LCM). Overall, the desire was to reduce analysis time by leveraging FDMEE's load/drill back capabilities. With enhanced drillback, MindStream advised, migration capabilities for new applications and upgrades would be greatly improved. In addition, the value of built-in multi-dimensional mapping functionality of FDMEE was also key to reducing custom scripting for enhanced data loads.

Results

MindStream effectively managed the process, and the results were efficiencies across the entire financial close process. A 20% increase in consolidation performance was realized. Wit the use of the built-in ERPi adapter for FDMEE, analysis time was reduced by 30%. In addition, with new optimization in both script and script maintenance, scripting and script maintenance experienced a 50% reduction, saving time and resources in the long-term.

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