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Financial Close & Consolidation

Today’s successful organizations depend heavily on the timely and accurate reporting of financial, non-financial and regulatory information to its stakeholders and regulatory agencies. Over the years all corporate reporting organizations have been continually challenged with the ever increasing and changing reporting requirements and the demand on providing this information faster.

Our expert resources have helped numerous organizations meet these challenges by implementing successful solutions with the Oracle Hyperion Financial Close Suite at its core, which provides an integrated solution for the extended financial close and reporting process. These solutions have provided the needed control to improve the entire financial close process, reduced the time and effort to complete, increase accuracy, follow good governance, visibility and allow for transparency into the financial close and reporting effort. The end game will also give management the necessary confidence in the numbers and information that is being reported to those key stakeholders. The key is in addressing the entire process from the beginning, starting with the sub ledgers and ending with the delivery of the required statutory reporting and implementing a reliable and efficient integrated financial close process.

The following are the key Oracle Hyperion Financial Close Suite modules:

Oracle Hyperion Financial Management – This module provides the key functionality for financial consolidation and reporting. It takes advantage of advanced Web technology and it delivers to the organization finance managers a solution to quickly consolidate and report results, comply with regulatory requirements, reduce cost of compliance and provides management with confidence in the numbers.

Oracle Hyperion Financial Close Management – The extended Financial close process is different for the various levels in the organization such as division controllers, corporate accountants and the CFO, and involves all the processes and tasks from closing out the sub-ledgers through SEC filings and regulatory reporting. This module was developed to implement a centralized, web-based for the management of the period-end close activities across the extended financial close cycle. The is key to assisting the management of all financial close tasks, including ledger and sub-ledger close, data loading and mapping, financial consolidation, account reconciliation, tax/treasury and internal and external reporting processes. Oracle Hyperion Financial Close Management includes three key modules: Close Manager, Account Reconciliation Manager, and Supplemental Data Manager. When implemented the overall solution allows for the proactive management of the financial close process.

Oracle Hyperion Financial Data Quality Management – This module can assist in enhancing the quality of internal controls and the reporting process, provide visibility and transparency into the process and the data as it is moved from the source systems to the financial reporting of the data. Implement standardized financial data management processes to ensure the validity and accuracy of data from any source system and reduce costs and complexity while maintaining full integration with the other Oracle Enterprise Performance Management applications. Establish confidence in the numbers through standardized and repeatable processes. Reduce data integrity risks related to data collection, data mapping, data validation and the movement of critical financial data. Increase confidence in the numbers, lower cost of compliance, simplify financial data collection and transformation, improve finance staff productivity, and connect source data to OEPM System, source adapters for standard file formats and transaction systems.

Oracle Hyperion Financial Reporting – Simplify and improve the ever changing and demanding task of reporting financial and non-financial data with OHFR. Every organizations reporting demands are different. Companies need to deliver data, enable flexible output and delivery, ensure timely and accurate reporting, access multidimensional data, automate report production and delivery, annotate and collaborate

Oracle Hyperion Smart View for Office – This module provides seamless integration with Microsoft Excel, Word and PowerPoint and integrates with the other Oracle Enterprise Performance Management applications and is used for data entry, reporting and analysis.

Oracle Essbase Analytics Link for Hyperion Financial Management – Create and automate the integration of data with Oracle Essbase cubes and combine that data with operational data accessed by various organizational managers using a variety of reporting tools.

Additional modules that can be added to the suite include;

Oracle Hyperion Disclosure Management – Adding this module to your solution enables your organization to effectively manage the creation of XBRL and inline XBRL (iXBRL) documents and provide key integration with existing Oracle Hyperion financial reporting tools.

Oracle Financial Management Analytics – This module leverages the key integration with Oracle Hyperion Financial Close Management and Oracle Hyperion Financial Management and uses Oracle Business Intelligence Enterprise Edition Technology. It provides a valuable view into status of the extended financial close process and financial results. It includes pre-built dashboards for Financial Management, Process Management, Close Manager, Account Reconciliation Manager and Tax Dashboard. Implemented it will provide the complete reporting application for senior financial management. Additionally reduce implementation time with out-of-the-box integration with Oracle Hyperion Financial Close Suite.

Oracle Hyperion Data Relationship Management - Provides a centralized change management application that allows you to create, update, and export dimensions, hierarchies, and properties for use by downstream applications.

Oracle Hyperion Tax Provision – Provides a tax reporting solution that includes book and tax reporting in one system, global consolidated tax provision and ensures that tax maintains autonomy and leverages your investment in Oracle Hyperion technology and financial reporting processes.

 

 

 

 

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