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HFM VS FCCS?

Oracle vs Oracle - HFM or FCCS?

Hyperion Financial Management (HFM) and Financial Consolidation and Close Cloud Services (FCCS) are two of the most popular Corporate Performance Management products commercially available today, and both are sold and supported by Oracle. Can one be better than the other? Absolutely. But which one is better for you?

HFM and FCCS - Key Similarities

  • Both provide consolidation, reporting, and analysis of financial data.
  • Both provide the means to gather, store, and report on different types of data such as Actuals, Forecast, and Budget.
  • Both have access to data integration tools for mapping and importing source data.
  • Both provide currency translation and intercompany eliminations.
  • Both provide the means to create custom calculations and consolidations.
  • Both provide reporting solutions, including spreadsheet interfaces, PDF file generation, and HTML reports.

So why do these products exist separately if they can both do the same thing?

Some people may have heard that FCCS is the next step in the evolution of HFM, or that FCCS is "HFM in the cloud". This is absolutely not the case. While HFM is an "on-premise" tool and FCCS is cloud-based, FCCS and HFM should be considered competing products, each providing different means to the same end.

Key Difference: Customization vs Standardization

HFM is essentially a blank slate. Applications can be highly customized and designed with large or small business operations in mind. Simple or complex business requirements can be accommodated via flexible business rules and hierarchies.

FCCS, while providing some customization, favors those who are willing to adapt to out-of-the-box functionality based upon Oracle's research into "best practices". For example, every FCCS application starts with a pre-defined Chart of Accounts. The thought is that a more "out-of-the-box" structure will require less customization and therefore a faster implementation cycle.

HFM and FCCS - Other Important Differences

MindStream can help you decide!

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