Oracle Financial Management Analytics in Hyperion


May 8th, 2012

Oracle continues to up the ante on Hyperion Enterprise Performance Management by adding dynamic reporting capabilities. A primary case in point is the release of Oracle Financial Management Analytics. (We’ll use the acronym OFMA going forward.) OFMA is a business intelligence reporting tool that delivers financial and non-financial information through dashboards. It is positioned to management and executive users who consume high-level, core financial and non-financial data about their organization. The most exciting part of OFMA is the fact that all the dashboards are prebuilt – it means we can implement OFMA in a shorter time frame than building from scratch. This will be a big advantage for organizations that want to move quickly.

  Image courtesy of Oracle Corporation

The image above is an example of one of the dashboard pages that are prebuilt in OFMA. This static picture really does not do enough justice to the capabilities of OFMA. (This is a tool that you will have to get your hands on to understand its power!) Let’s try to explain what OFMA can do. From any dashboard page, like this example above, the reports will show real-time data from your consolidation application (HFM). You can drill-down on data, for example a manager can drill into the Europe, Middle East, Africa region (EMEA) to see the next level down and continue further. You can drill-down from Net Income to Gross Margin or Sales or Operating Expenses. You can compare to historical data like prior quarter or prior year. There are 9 different prebuilt dashboard pages that OFMA delivers with and each dashboard page will present different financial and/or non-financial data that is critical to managing the business.

Look at this box below to understand what types of data each of the 9 prebuilt dashboard pages will present:

Image courtesy of Oracle Corporation

From the 9 prebuilt dashboard pages, there are over 25 prebuilt analytic reports/graphs. Oracle has put considerable thought into what are the standard analytics that managers need for critical decision-making and Oracle has delivered them with OFMA. This will be a major benefit for organizations that want to standardize their reporting and make it easier for managers interact with each other.

So, let’s cover some of the important technical details about OFMA:

  • Good news if your organization is already on Hyperion EPM version and have HFM and Financial Close Management (FCM) deployed. The current release of OFMA will be compatible with it and you do not have to upgrade your Hyperion EPM
  • OFMA will require Oracle Business Intelligence Enterprise Edition (OBIEE) version
  • Another major benefit of OFMA will be that it will use existing security provisioning from HFM and FCM so you do not have to provision users separately in OFMA. OFMA will adopt the security filters that are set in HFM and FCM, which means users will only see the data they are authorized to see.
  • Remember that the 9 dashboard pages are available out-of-the-box with the 27 prebuilt analytic reports/graphs. There really is no reports development necessary. However, there are a few modifications to the analytics that you can make in OFMA:
    • Company logo can be added to reports
    • Scaling of the analytic graphs can be modified by report
    • Sorting of columns in analytic reports can be modified by report
    • Names of reports can be modified
    • If for any reason one of the 27 prebuilt analytic reports/graphs is not applicable to your organization, they can be hidden from all users

Oracle Financial Management Analytics will be an exciting addition to EPM Consolidations reporting. This is a business intelligence tool that will be dynamic and interactive with real-time data. There will be a very short lag time from when you install OFMA to when it will be ready for managers to consume. Oracle has definitely upped the ante and with OFMA in your organization, you will be raising the bar on dashboarding.



About TopDown Team

The TopDown Team includes members of TopDown Consulting who want to let the community know about webcasts, conferences, and other events. The team also conducts interviews on various EPM industry topics.

Leave a Reply

Your email address will not be published. Required fields are marked *