What is FDMEE?

FDMEE (Oracle Hyperion Financial Data Quality Management, Enterprise Edition) is a solution that allows you to create standardized financial data management processes and validate data from any source system. FDMEE eliminates the data integrity risks associated with collecting, mapping, verifying, and moving critical financial data.

Benefits of using FDMEE:

  • Increase your confidence in the numbers
  • Lower the cost of compliance
  • Simplify financial data collection and transformation
  • Standardize with repeatable financial processes
  • Deliver process transparency through audit trails
  • Achieve timeliness of data with a Web-guided workflow process
  • Improve the productivity of finance staff
  • Support multi-GAAP reporting

With FDMEE, you can build standardized, repeatable processes, and avoid the typical inefficiencies of collecting financial data. These transparent processes give you greater assurance of clean data and accurate results:

  • End-to-end automation of the collection, mapping, verification, and movement of financial data creates a standard process that eliminates variability.
  • Data validations and quality checks allow you to inspect data at each step to identify errors, generate notifications, and reconcile discrepancies.
  • Robust reporting provides prebuilt audit, log, system, and process management reports which can be easily amended to create user-specific versions and additional reports.

Annual audit fees can be reduced with FDMEE as tracking the movement and preparation of financial data includes:

  • Instant error checking that enables you to identify errors and notify stakeholders in a timely fashion.
  • Audit reviewing that tracks evaluations, gap analysis, and action plans, and lets you trace consolidated financial results back to original sources.

FDMEE also eliminates data bottlenecks and manual file manipulation by efficiently importing data from a range of financial data sources. Features that allow you to collect clean data from multiple sources include a data preparation engine that integrates, transforms, and validates data from any source system. A unique "push" integration verifies mapping and intersection, retrieves data for verification, and helps meet quality requirements of Oracle Enterprise Performance Management (EPM) target systems.

Oracle's prepackaged source adapters allow you to seamlessly link Oracle EPM applications to transaction systems, which further reduces integration costs and data mapping complexities. Oracle's EPM applications provide the following capabilities: Strategy Management, Financial Close and Reporting , Planning, Budgeting and Forecasting , Profitability and Cost Management , and Enterprise Data Governance.

The process can be configured to import standard data files or connect to source transaction systems, validate data, and export it to its final target system. Administrators can set up predefined mappings and "wildcards" for any unmapped items in the data import file or underlying transaction system. The creation of batch definitions automates as much or as little of the data loading process as you require. FDMEE also streamlines the time-consuming task of manual data reconciliation by automating and verifying data submissions:

  • Complete audit trails from trial balance to report give users a transparent, intuitive view of data and processes.
  • A Web-based user interface enables business users to load, review, and verify data for any target system.
  • Guided workflow helps users create sophisticated data mappings and repeatable processes.
  • Support for multi-GAAP (IFRS) reporting and reconciliations.

MindStream Analytics is a premier consulting and managed services provider. We help organizations acquire, implement, host, and manage strategic finance solutions including Oracle Hyperion that are designed to grow your business by bringing people, processes, and information together. Our team is made up of business and technical experts with years of experience with Enterprise Performance Management, Business Intelligence, and Advanced Analytics.

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