Oracle Hyperion Conversion
Thousands of organizations around the world are using legacy performance management application suites such as Oracle Hyperion. While these products
have provided value over spreadsheets and manual approaches, their architectures can cause Finance teams to spend a large amount of their time
on data integration and movement between applications, maintaining metadata in multiple systems, and managing upgrades.
These suites typically include separate products or modules for:
Financial Close and Reporting: Data Integration/Data Quality, Financial Consolidation, Financial and Management Reporting, Account Reconciliations,
Disclosure Management, Tax Provisioning.
Financial Planning and Analysis: Financial Budgeting and Forecasting, Strategic Planning, Workforce Planning, Capital Asset Planning, Project Planning,
Sales Planning, Profitability Management, Performance Reporting, Multidimensional Analysis, and Modeling.
As a result, data from source systems such as GL, HR, CRM, and others must be loaded into multiple databases and applications. In addition, data must
be moved between applications to perform simple tasks such as actual vs. budget or forecast analysis.
Getting organizations to make the move from legacy application suites to more modern, unified CPM solutions can be challenging due to many forces.
This can include a lack of leadership, lack of time, lack of resources, risk avoidance, and others. But building a solid and compelling
financial business case for conversion can help get the attention of senior management and spur the entire organization to action.
Key Advantages and Benefits of OneStream
Hundreds of mid-to large-size enterprises around the world and across industries have migrated to OneStream and are seeing these advantages:
- One, unified application for financial consolidation, reporting, budgeting, planning, forecasting, analysis, and data quality
- Deep functionality and scalability that meets the more complex needs of large, sophisticated, global enterprises
- The same solution can be deployed in the cloud or on-premise
- Extensible Dimensionality enables BUs to report and plan at a lower level of granularity without impacting corporate standards
- Integrated financial data quality ensures confidence in financial and operating results
- The MarketPlaceTM delivers more solutions without adding complexity.
These advantages of OneStream translate into substantial business benefits that easily support the business case for replacing legacy
applications and converting to OneStream. Examples include:
Reducing the time, effort, and cost of maintaining legacy applications
- Replace multiple legacy systems with one unified application
- Reduce costs of ownership and upgrades
- Shifts Finance staff time from admin to value-added analysis
Simplifying financial close, consolidation, and reporting
- Quickly collect, validate and integrate data from financial and operational systems, enable drill- through to transactional details
- Automate manual steps in the financial close/consolidation process
- Supports complex global consolidation and reporting requirements
Improving agility in budgeting, planning, and forecasting
- Aligns BP&F with financial close and actual reporting
- Corporate plans and forecasts linked to more detailed operating plans
- Support more agile planning such as rolling forecasts and driver-based plans
Accelerating the delivery of new applications and business insights
- A unified platform enables standardization and reuse
- MarketPlace solutions enables deployment of new applications quickly
- An extensible platform supports the rapid creation of new solution
- Accelerates business insights and enhances decision making
Migrating to OneStream Software
Unlike Oracle Hyperion, OneStream combines all financial processes using intelligent tools and processes to provide an all-in-one finance
and accounting environment. Financial data quality is important to any accounting and reporting team and having all the financial aspects
of a business in one environment allows for high-level reporting that can be drilled down into the lowest operational level for complete
accuracy and auditable trail.
Contact MindStream Analytics
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