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Oracle EPM Cloud for Financial Consolidation and CloseSession 10554
Rich WilkieSr Director, EPM Product Management
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Safe Harbor Statement
The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
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How are you keeping up with the increased business complexity & reporting requirements?
More than 70% of companies have more than 5
reporting standards.
Sources: E&Y’ Connected reporting Responding to complexity and rising stakeholder demands: 2014
50% of companies increased staff in the last 3
years to keep up with requirements
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EXAMINEYOUR CONSOLIDATION & CLOSEPROCESS
68%
57%
use Excel or e-mail to track the financial close, reporting, and filing process
State they have inadequate visibility across the close
86%
Say Non-Financial data is greater than 25% of required Filings
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Source: The Challenge of Corporate Reporting Research Study carried out by Dynamic Markets on behalf of Oracle and Accenture.
Manage the entire process…
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E&Y Confident Reporting, 2014
Just 27% say that they are highly effectiveat efficiency of production in corporate reporting,
and only 25% are very effective at speed of closing.
63% fewer FTEs used by Top
Performers in the Account-to-Report
Process.
Hackett A2R Performance Study, 2013
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Evolution of Hyperion Consolidation and Close Solutions
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Micro Control Hyperion Enterprise
Hyperion Financial
Management
Financial Consolidation
and Close
30+ years of experience and best practices allow us to constantly improve and evolve
Financial Data Management
Financial Close Management
Supplemental Data
Management
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ISSUES OFTEN CONSTRAINING THE CONSOLIDATION & CLOSE PROCESS
MANUAL PROCESSES
INCOMPLETE INFORMATION
AUDIT ISSUES
LIMITED VISIBILITY
causing delays in the close and limiting high-value activities.
SECURITY QUESTIONS
LACK OF GOVERANCE
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DO YOU HAVE…
- increasing regulatory reporting requirements such as IFRS 16 or local GAAP?
- a desire to streamline your close and perform more analysis on the results without increasing headcount?
- a single source for both financial & non-financial information?
- insight to real-time status of your close & a means of reviewing performance for continuous improvement opportunities?
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The Complete Financial Close Process
Reconciliations04
Compliance06
Internal Reporting05
Post Sub-ledgers01
Consolidations03
Close General ledger02
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The Complete Financial Close Process
Account Reconciliation 04
Tax Reporting 06
Enterprise Performance Rpt05
Cloud Financials01
Financial Consolidation & Close 03
Cloud Financials02
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EPM Cloud Today: Financial Close Domain
• Global reconciliation process fully integrated into financial close
• Instant visibility into progress of reconciliation lifecycle
• Transaction Matching module for automated high-volume & complex reconciliations
• Perform and monitor variance analysis
• Comprehensive built-in functionality to address management and legal entity consolidations
• Configurable, with limited need for customization
• Extended close process management with intelligent process automation
Financial Consolidation & Close
Account Reconciliation
• Narrative Reporting for Management, Tax and Statutory reporting use cases
– Annual reports
– Statutory disclosures
– Country by Country Tax reporting
• Comprehensive Tax Reporting solution: Tax Provision, Country by Country (CbCR), Uncertain Tax Positions, Workflow & Task Management
• Integration with Cloud and on-premises ERP, financial consolidation and reporting solutions
Tax Reporting Enterprise Performance Reporting
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Focused on Best Practices from 30+ years experience
Extended close from sub-ledger to final reporting
Integration with ERP, EPM, & 3rd party sources
Consolidate and Report with ConfidenceFinancial Consolidation and Close
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Best Practice
ConsolidationsSupplemental
data Close
CalendarDashboard Data
Management
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Ensures the use of best practices for an accurate and efficient financial consolidation and close
Makes it easy for finance departments to meet global financial regulation requirements like IFRS and GAAP
Significantly reduces timescale, cost and risk in the financial consolidation and close process
Best Practice Consolidation Out-of-the-Box
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Reduce the time it takes to complete the financial close
Ensure visibility and predictability in financial consolidation and close
Trust and reliability that the numbers are complete and accurate
No need to replace/alter existing transactional systems
Increase collaboration
Comprehensively Address the Extended Close Process
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Secure anywhere anytime access to latest financial information that remove the dependency on finance for generating reports and analysis
Improve the security, consistency and quality of financial reporting
Contain / reduce audit costs
Confidence in compliance with regulations
Integrated, Secure and Auditable
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Close in the Cloud – Beyond just consolidations
• Close Manager – totally integrated process orchestration (includes automation, task management, sign offs, etc) across ERP and EPM
• Supplemental Data – robust ad hoc data collection process useful for footnotes, disclosures, and supporting details
• Data Management – Integrate data from any source (w/ drillback)
• Consolidations* – Multi-GAAP, Statutory and Management, Complex Consolidations, Ownership management
• Reporting* – Financial Reports, Smart View, Dashboards
* Included with core HFM
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Key design principles of Close in the Cloud
• Pre built functionality and out box of content– Based off 30+ years of consolidation experience
– Best practices from HFM, Enterprise and practical experience
– Easily enabled for future growth
• Configurations v/s Customizations
• Modern look and feel– Navigation like your iPhone/Tablet
– Heavy emphasis on reporting (dashboards, reports, Office, etc)
• Leverage EPM Cloud platform– Process (not product) driven navigation
– Innovations driven across the platform
– Single learning curve
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FCCS - Consolidation CapabilitiesAll major HFM capabilities are now covered by FCCS
Currency Translation Adjustment 17.04
Copy & Clear 17.06
Movement enhancement for Balance Sheet Accounts 17.07
Configurable Calculations 17.11
Configurable Translations 17.08
Advanced Consolidations 17.12
Ownership Management 17.12
Journals – Auto reversing, Attachments 18.01
Configurable Consolidation Rules 18.04
Extended Dimensionality Under Preview
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Consolidation Process – Local Currency
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Sample Custom Rule – Script mode
Support Script or Designer mode
Support most of Essbasefunctions
Available Function and Member Selector
Import / Export
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Sample Custom rule – Graphical mode
Switch between script and designer mode
Drag and drop objects to designer
Support most Calc Mgr functionality
Validate and Deploy
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Manage Ownership
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Consolidation Methods
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Configurable Consolidation
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Editable System Calculations
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Three now – more to come
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Rule Set
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Represents a journal entry
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Rule
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Represent lines of journal entry
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FCCS - InnovationsExpanding beyond HFM
Integrated Business Processes 17.11
Intelligent Process Automation 17.12
Autonomous Consolidation 18.04
Infolets 18.04
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Autonomous Consolidations
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• Enabled by customer• Configurable by scenario,
year and period• Impacted status launches
consolidation in background
• Major benefit• Faster Consolidations• Less time spent
executing consolidation job
• Better user experience
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FCCS - HardeningListening to our customers
Metadata Best Practices 17.111. Simplified Editor with Validations
2. Metadata Check
3. Referential Integrity
4. Governors
Consolidation Running Logs 18.02
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Recent Highlights R&D Underway Looking Forward
For Event Use Only. The above is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle Corporation.
• Ability to use Close Manager and Supplemental Data Manager Standalone
• Adv. Consolidations• Manage Ownership• Proportional Consolidations• Equity Eliminations/Min Interest• Org by Period• Configurable ules
• Configurable translations• Integrated EPM Business Processes• Config calculations• Close Manager
• Intelligent Process Automation• Team based assignments• User defined reporting
• Supplemental Data Manager• Team based assignments
• Extend custom dimensions• Supplemental Data Manager
• Additional calculation rules• Smart View for Data Sets
• Intuitive and searchable error logging for easy debugging
• Archiving of data• Autonomous Consolidations• Favorites/Last Used• UI Integration with ERP Cloud• Process Control• HFM Migration Toolkit
• Journal Entries• Integration with any ERP• Recurring• Single click create
• Adv. Consolidation• Automatic Journaling• Ownership register• More pre-seeded rules
• Calculations• Ability to call specific calculations
• Intercompany Matching• Security as partner• More matching options
• Event based alerts
Oracle EPM Cloud: Financial Consolidation and Close
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Intelligent Process Automation
Manage Optimize Predict
Close Calendar EvolutionClose
Calendar
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• Task Management
• Close Templates
• Schedules
• Dependencies
• Reports
• User Defined Attributes
• Workflow
• SmartView Add-in
Close Calendar – Manage
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• Compliance Dashboard
• Email notifications
• Team Assignments
• Alerts
• Intelligent Process Automation
Close Calendar – Optimize
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Intelligent Process Automation
Automated manual/menial tasks across On-Premise and Cloud
applications integral to the financial and tax close to reduce risk and
increase efficiency.
Impact to financial & tax close
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Intelligent Tasks
• Automated Tasks–A task that runs in the background without any user interaction required.
• System Monitoring–A task that a user can use to monitor a particular event that happened
on an external system.
• End Users–A task that requires the user to interact with a user interface to complete
the task
• Autonomous –“Self initiating” financial processes
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Oracle EBS, PeopleSoft, JDE, Fusion
APPs, SAP R/3
Other Systems
EPM Cloud
ERP Cloud Services
Integration Connector
EPMCloud
EPMCloud
Intelligent Process Automation - Flow
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Connected
Analytics
Social
Automated
Best practice consolidation & close processes, intuitive, rapidly deploys
COMPLETE CLOSE SOLUTION OUT OF THE BOX
Available on the Oracle Cloud
No pre-requisite products
Easily integrates
Can stand-alone
Fast time-to-value
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FCCS Benefits
• Single EPM platform
• Configure not customize
• Leverage best practices
• Always up to date
• Built on 30+ years of Hyperion expertise
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FCCS Customers
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Drastically reduce the time & cost to close with Oracle Financial Consolidation and Close Cloud Service
Take your Consolidation & Close Process to the Cloud
Find out more – Read our whitepaper
Watch a live demo
Give us 2 hours to show you a tailored demo
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