Financial Close

Financial Close Management (FCM, ARM, SDM) at Kscope17

If you are responsible for managing FCM tasks and those related to the financial close cycle, you won’t want to miss the FCM sessions and presentations at Kscope17. Learn real-world implementation experiences and tips and tricks related to the Financial Close Management suite, which includes Close Manager, Account Reconciliation Manager (ARM), and Supplemental Data Manager (SDM). 

Hyperion Financial Management (HFM):  

We’ll go over HFM implementation, design ideas, rule tips and tricks, feature highlights, and strategies.

HFM Foundation Components:  

You’ll learn tips and tricks for using Shared Services, Smart View, Calculation Manager, and EPM Architect.

Financial Close in the Cloud:  

Learn from the best and complete Financial Close in the cloud. You’ll hear Implementation experiences, practical feature highlights, and tips and tricks related to Financial Close, Close Cloud Service, and Account Reconciliation Cloud Service.

Other Financial Close  

Kscope17 presentations will also cover Oracle products that connect to Hyperion Financial Management, including Financial Management Analytics, Essbase Analytics Link, Disclosure Management, and prepackaged solutions such as Hyperion Tax Provisioning, along with starter kits, and customer experiences with non-Oracle products used to extend the Financial Close suite functionality and aid in managing applications.

Check out the presentations listed below.



Close Manager: Your Interactive Project Manager
Catherine Baldasty , Global Business Intelligence
Co-presenter(s): Laura Potts, Global Business Intelligence, LLC
Topic: Financial Close - Subtopic: Financial Close Management (FCM, ARM, SDM)

Are you sick and tired of maintaining your close through post-it notes and individual checklists? Don’t miss your delivery to senior management because you don’t know about a bottleneck in your close process. Meet Close Manager, your interactive project manager. Watch as we eliminate those bottlenecks by creating schedules with email notifications where progress and completion can be managed from a central dashboard. Let us show you how to make FCM rival all other project tools combined.

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Campfire Stories: Tips for Making Life Easier for the Financial Close Administrator
Christopher Barbieri , Finit Solutions
Topic: Financial Close - Subtopic: Other Financial Close

Life for the financial close administrator can be pretty rough at times. As they say, “necessity is the mother of invention," and so we invite you to gather around, pull up a seat and listen to true stories from folks like you as they share tips and inventions that make their lives easier. Stories cover a range of home-made utilities, macros, tips for using Notepad++, novel ideas with custom member lists, dashboards in Smart View, interesting uses for WriteToFile, and more. We hope the tips from this Deep Dive session will inspire you and make your life easier too!

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Backstage Pass: Lesser-Known Features for Easier HFM Management
Christopher Barbieri , Finit Solutions
Topic: Financial Close - Subtopic: HFM

Oracle ACE Chris Barbieri takes you backstage to work with some lesser-known HFM administrator features. We’ll investigate the Insights module, review common System Messages, and make use of the Admin mode while performing application updates. We’ll discuss a few of HFM’s system settings to control HFM’s behavior and explore the Module Configuration. Finally, we’ll cover Shared Services logs and HFM’s data audit log for tracking user activity and data changes. Please note that although some of these features are particular to 11.1.2.4, many of them apply to earlier versions.

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What Would Happen If I Did ... in HFM? Greatest Hits and Disasters
Christopher Barbieri , Finit Solutions
Topic: Financial Close - Subtopic: HFM

Ever wonder what would happen if you changed the currency on an entity? Or switched an account to be IsCalculated? Or renamed an account? Have you made metadata changes and loaded the file without the check integrity flag? Oracle ACE Chris Barbieri revisits these and other HFM topics, taking a Mythbusters approach to defining the myths, setting up the tests, and explaining what happens "under the hood" so you can more deeply understand what would happen if I did ... in HFM.

This is a compilation of popular topics from three "What Would Happen..." presentations and is geared toward HFM administrators and power users, though all are welcome.

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The HFM Value Dimension in Four Easy Concepts
Keith Berry , The Hackett Group
Topic: Financial Close - Subtopic: HFM

If the standard explanations of the value dimension leave you confused, this session is for you.

The value dimension makes perfect sense once you understand the underlying operation of the HFM consolidation engine. We'll break down that information into four basic concepts, each of which explains an (otherwise perplexing) aspect of the value dimension. We'll skip the abstract diagrams and learn about these concepts with pictures of dogs, dice, and other everyday things. You'll walk out of the presentation with a complete understanding of the value dimension and a deeper appreciation of how things really work in HFM.

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Understanding HFM System Tables
Keith Berry , The Hackett Group
Topic: Financial Close - Subtopic: HFM

The HFM repository is not designed to be accessed directly, so there is little official documentation on how it works. This presentation will try to shed some light on the inner workings of the HFM database.

In the first part of the session, we'll cover the basics of the HFM repository and the architecture of the primary table sets for storing data, journals, and metadata. In the second part of the session, we will go through a cookbook of useful queries for troubleshooting errors, extracting hierarchies, and analyzing audit data.

The presentation is for HFM administrators/developers and integration specialists who use HFM as their data source. Some knowledge of relational databases will be helpful, but the material will be useful to anyone looking for a greater understanding of how HFM works.

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How to Successfully Set Up an HFM Environment for a New Spinoff Company
Ray Chontos , Finit Solutions
Co-presenter(s): Kathleen Marschak, Adient
Topic: Financial Close - Subtopic: HFM

Spinoffs are a common practice, as companies continually adapt to new and different markets. In 2016, Johnson Controls – a company with one of the largest and most complex HFM environments in the world – spun off a $17B portion of its business into a new, independent company. Learn how that newborn company, Adient, successfully designed and deployed HFM applications to meet revised reporting requirements, and satisfy a new CFO and over 1,300 HFM users. This session will walk through the critical actions and lessons learned as the JCI HFM team members transformed their systems and themselves into Adient and helped this huge and hectic spinoff to roll out as smoothly as a stroll down the River Walk.

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Fast, Effective, and Successful HTP Implementation at Wilsonart
Julien Coudrette , Grant Thornton
Co-presenter(s): Vinay Nagareddy, Wilsonart International
Topic: Financial Close - Subtopic: Other Financial Close

While most finance functions are equipped with Financial consolidation and reporting systems, many tax departments are still relegated to Excel silos, struggling with manual processes and disconnected from the information flows.

In 2016, Wilsonart successfully implemented Hyperion Tax Provision, in partnership with Grant Thornton. The implementation answered the specific needs for automation and reporting of the tax department, and integrates with a broader state-of-the-art Finance Systems architecture with direct feeds from the multiple ERPs and HFM.

Wilsonart can prepare its tax provision confidently and is now well-positioned to handle future growth. This session will present why and how Wilsonart implemented HTP and the benefits attained after a year-end and a few quarter closes.

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Supplementing the Close Process at UHS
Geordan Drummond , Edgewater Ranzal
Co-presenter(s): Dan Noon, United Health Services
Topic: Financial Close - Subtopic: Financial Close Management (FCM, ARM, SDM)

Oracle’s Supplemental Data Manager (SDM) module is designed to capture supplemental information in a structured process. Join us for a discussion on how UHS was able to replace a long list of Excel-based schedules with SDM and automate the data population to make the process more efficient. UHS was able to accommodate schedules used both at the beginning of the close process in order to formulate and validate accruals as well as at the end of the close process for reporting purposes.

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Back to the Future: EPMA to Classic Migration with HFM
Eric Erikson , PQR Company
Topic: Financial Close - Subtopic: HFM Foundation Components

It is "Back to the Future" time at Kscope17. EPMA used to be the future for EPM metadata maintenance. But what if you're now implementing DRM or want to migrate the EPM environment onto Exalytics? Were shared dimensions and data synchronization ever used? This presentation walks through the steps of migrating an HFM EPMA application to Classic – the new future.

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HFM Performance Optimization: 10 Things That Can Save Your Application
Topic: Financial Close - Subtopic: HFM

Application running slower than you think it should? Afraid the application will slow over time? Not sure if it’s an application problem or environment issue? Then join this session to hear about the HFM 11.1.2 performance optimization efforts of General Electric. See how GE has optimized one of the largest (16) dimension HFM applications and environments known to Oracle. We would tell you more, but then we would spoil the ending. Join us to see how it all turned out.

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HFM Rules Automation: UDs and Triggers Gone Wild
Topic: Financial Close - Subtopic: HFM

Ever think you would see the day that an HFM rule file could be so dynamic that it virtually eliminated the need for maintenance? Well, at General Electric we have put UD fields on steroids and enabled triggers to achieve just that.

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A Lesson Your Teacher Never Taught You: Automated Account Reconciliations
Joy Hsu , The Hackett Group
Co-presenter(s): Charles J. Zorbach, Laureate Education
Topic: Financial Close - Subtopic: Financial Close Management (FCM, ARM, SDM)

To implement world-class financial close process and best practices, Laureate International Universities transformed from a manual reconciliation process to an integrated and automated process, using Oracle Account Reconciliation Management (ARM). The solution rolled out to six shared service centers (SSC), including the US, Chile, Europe, Mexico and Brazil. The solution automated data load with PeopleSoft GL and Subledgers to improve accuracy and accelerate the reconciliation process. Overall, automated reconciliations grew up to 50%. Automation enforces standardization across the reconciliation process and improves quality and accuracy of financial data.

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A Real-World Implementation of FCCS: Lessons Learned and Mistakes You Do Not Want to Repeat
Mike Janik , New Flyer Industries Canada ULC
Co-presenter(s): Edward Roske, interRel Consulting
Topic: Financial Close - Subtopic: Financial Close in the Cloud

One month after the Oracle Financial Consolidation and Close Cloud Service (FCCS) product was released, we found ourselves deep in the thick of implementing a solution and there was no roadmap to follow. To begin with, we quickly discovered that HFM and FCCS are as similar as two completely dissimilar things could be, as was implementing FCCS vs HFM. We then found out that while there were many prebuilt things that existed in FCCS that didn't exist in HFM, things we felt surely must exist (specific forms, reports, and calculations) weren't there at all. How did we work around what was missing? How did we take advantage of what was there? How can you learn from our journey of exploration (so you can be a lot smarter in your journey)? While there's far more than an hour's worth of lessons, we'll make sure we cover the big ones before the session is over.

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Reconciliations Made Easy in the Cloud at New Flyer
Mike Janik , New Flyer Industries Canada ULC
Co-presenter(s): Glenn Schwartzberg, interRel Consulting
Topic: Financial Close - Subtopic: Financial Close in the Cloud

The most significant time-consuming (and boring) step in closing your books is verifying that the data ties: Does the total from the AP subledger equal the accounts payable line in the GL, does the journal entry detail match the account balances, and does the general ledger foot to what’s in FCCS or HFM? Oracle EPM's solution to quick reconciliation of data? Account Reconciliation Cloud Services (which also has an on-premise version if you want to kick it old-school). This technology will not only speed up your manual reconciliations by helping you find the discrepancies; in most cases, it will do it automatically. Come learn how New Flyer Industries Canada ULC reduced its close cycle (and got a large dose of sanity back) with Oracle Account Reconciliation Cloud Service.

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Do You Want an Extra Custom Dimension with That?
Dennis Jensen , FLSmidth A/S
Topic: Financial Close - Subtopic: HFM

Why should you consider having more than four custom dimensions in your HFM application? At FLSmidth, we found that we could solve some major reporting pains while also making the application more simple and intuitive.

The presentation will cover areas such as:
• Which reporting dimensions we use
• The problems with having multiple reporting dimensions on one custom dimension
• Why it matters on which custom dimension you place your reporting dimensions, when you have more than four custom dimensions
• The benefits of the DataSource dimension
• Concerns about negative influence on performance
• Be careful not to make data input from users too complex or cumbersome
• Changing metadata and rules
• How to use FDMEE to convert the historical data

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Tools for Rules
Dennis Jensen , FLSmidth A/S
Topic: Financial Close - Subtopic: HFM

Tips and tricks for how to make your task as an HFM rule programmer just a little easier:
• Create your own powerpack for Notepad++, adding formatting capabilities such as expand/collapse blocks of code, background coloring, etc.
• How to measure time for running your rules calculations
• How to use UDs and member lists to create custom lists for your rules programming and make your rules maintenance more simple
• Open data unit, your best friend for limiting data processed by your rules code
• Use variables!
• Create on/off switches that can be updated in a data form to enable activation/deactivation of validations, etc. without changing rules
• Use writeToFile for your debugging

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Hacking FCCS to Create a Custom Consolidation Engine
Pritpal Kalsi , SC&H Group
Topic: Financial Close - Subtopic: Financial Close in the Cloud

We’ve all heard it 1,000 times before: FCCS is NOT HFM in the cloud. But can you hack it to make it HFM in the cloud? Don’t worry, Oracle; we are not hacking your software, but we will show you how to use out-of-the-box tools that are part of FCCS to make it your own unique consolidation engine. In this demonstration, you will learn tips and tricks that we have used with our FCCS clients to make applications more flexible, dynamic, and customizable than you ever thought possible. We will also cover the latest and greatest functionality up to and including the June 2017 FCCS release.

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Leverage HFM APIs to Automate Part of Your HFM End of Month Process Without Scripting
Beatrice Sagroun , Grant Thornton LLP
Topic: Financial Close - Subtopic: HFM

What options exist to automate HFM processes? Some would say, "Well, just use HFM Taskflows" but there are some tasks you cannot do in it. So what happens when you need to automate something not available? Happily, Oracle provides an alternate tool to enable more flexible automation with less restriction on which tasks you can automate. This tool is called JHAT (Java HypCon API Tester), previously HAT. It is already located on the HFM server and uses HFM APIs. As an example, if you need consolidations to run in a specific order then need to extract data to an Essbase cube, this can be done using JHAT. During this session, we will discuss JHAT, how it works, where you can find it, examples of automations, and how you can use it with other EPM tools.

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Introducing the Oracle Tax Reporting Cloud
Marc Seewald , Oracle Corporation
Topic: Financial Close - Subtopic: Financial Close in the Cloud

Corporate taxation continues to receive significant focus from regulators. Because of this there is an increasing need to connect tax reporting with financial and management reporting. The new Oracle Tax Reporting Cloud Service offers a single solution for all tax reporting requirements and keeps you connected with other ERP and EPM reporting processes. The solution automates such processes as the tax provision and Country by Country Reporting (required for the new OECD BEPS - Base Erosion and Profit Shifting initiative). This session will be very relevant for any existing Oracle ERP & EPM customers.

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Cash Flow 2D vs. 3D – How to Make Your Data Stand Out
Matt Spencer , Finit Solutions
Topic: Financial Close - Subtopic: HFM

Come explore various approaches to everyone’s favorite financial – the Cash Flow Statement. Learn the difference between the two-dimensional (using 2 HFM dimensions) and three-dimensional (using 3 HFM dimensions for additional detail) approaches, different ways to tackle each, and which one may be a better fit for your business. A brief overview of the Statement of Cash Flows will be provided – no CPA certification required!

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HFM Admin’s Life Made Easier with EPM Maestro, WebSymphony, Admin Switches and Some Copying!
Paulo José Thrige , FLSmidth A/S
Topic: Financial Close - Subtopic: Other Financial Close

For several years FLSmidth has been using HFM for the Financial Consolidation and has been using tools and techniques to reduce the workload on recurrent manual procedures. This is done by re-use of scripts with EPMMaestro (third party tool) that include multiple tasks like copying, calculation, consolidation and process management – See how to build a script in a few minutes that does it all! For the users the addition of WebSymphony (web part of EPMMaestro) have given the users some features that HFM cannot do or is cumbersome to do.
In addition, we have reduced the need for frequent rules loads (due to business changes) by adding rules logic that are triggered by values in trigger accounts in order to turn on rules like Process Management Locks. The recent EPM upgrade from 11.1.2.1 to 11.1.2.4 also made it necessary to explore the new tools for migrating and copying HFM applications between different environments.

The presentation covers topics like:
• EPMMaestro
o What does it do and why should I bother?
o Adapting to the world of Java
o Scripting – Let’s get under the hood!
o Examples on recurrent Closing tasks run by EPMMaestro
• Websymphony
o Extending the HFM tools with nice features
o Run elevated tasks by regular users
o Transparency in your application
• Admin switches – Turn your rules on and off without having to load rules.
• Copy, copy, copy
o Import Application, Duplicate Application and HFMCopyApplication – How do they work and when to use them?
o Unorthodox application migration by DB Magic

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Take Control of Your HFM Environment
Henri Vilminko , Infratects
Topic: Financial Close - Subtopic: HFM

Which users have been active in HFM during the past year? How many concurrent users are accessing the system during busy periods? Why is the volume of HFM data growing so fast? What Financial Reporting reports are used most frequently? These are the kind of questions that Financial Management administrators often need to answer. In this session I will show you how to get answers to the aforementioned questions - and more - using tools that are available without additional cost.

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