What's New in Oracle's EPM System?
- by jmorourke
Oracle’s EPM System R11.1.2.2 is now generally available to customers and partners on the download center. Although the release number doesn’t sound significant, this is a major release of Oracle’s Hyperion EPM Suite with new modules as well as significant enhancements across the suite.
This release was announced back on April 4th as part of Oracle’s Business Analytics Strategy launch, so analytics is a key aspect of the release. But the three biggest pieces of news in this release are Oracle Hyperion Planning support for the Exalytics In-Memory Machine, the new Project Financial Planning Application and the new Account Reconciliations Manager module.
The Oracle Exalytics In-Memory Machine was announced back in October 2011, at Oracle OpenWorld. It’s the latest installment from Oracle in a line of engineered systems that combine Oracle Sun hardware, with Oracle database and application technologies – in solutions that are designed to provide high scalability and performance for specific tasks. Exalytics is the first engineered system specifically designed for high performance analytics. Running in-memory versions of Oracle Essbase, as well as the Oracle TimesTen database and Oracle BI tools, Exalytics provides speed of thought response times for complex analytic processes with advanced visualizations. Early adopter customers have achieved 5X to 100X faster interactivity and 6X to 10X faster planning cycles. Hyperion Planning running with Oracle Exalytics will support enterprise-wide planning, budgeting and forecasting with more detailed data, with hundreds to thousands of users across an organization getting speed of thought performance.
The new Hyperion Project Financial Planning application delivered with EPM 11.1.2.2 is also great news for Oracle customers. This application follows on the heels of other special-purpose planning applications that Oracle has delivered for Workforce and Capital Asset planning. It allows Project Managers to identify project-related expenses and revenues, plan and propose new projects, and track results over time. Finance Managers can evaluate and compare different projects, manage the funding process, monitor and report the actual financial results and impacts of projects and project portfolios. This new application is applicable to capital projects, contract projects and indirect projects like IT and HR projects across all industries. This application is a great complement to existing Project Management applications, and helps bridge the gap between these applications, and the financial planning and budgeting process.
Account reconciliations has to be one of the biggest bottlenecks and risks in the financial close and reporting process, and many organizations rely on spreadsheets and manual processes to perform this critical process. To help address this problem, Oracle developed an Account Reconciliation Manager module that is being delivered as part of Oracle Hyperion Financial Close Management. This module helps automate and streamline account reconciliations and eliminates the chances for errors, omissions and fraud. But unlike standalone account reconciliation packages, it’s integrated with the rest of the Oracle Hyperion Financial Close suite, and can integrate balances from any source system. This can help alleviate a major bottleneck in the financial close process, increase accuracy and reduce risk, and can complement existing investments in Hyperion Financial Management, as well as Oracle and non-Oracle transaction processing systems.
Other enhancements in this release include an enhanced Web 2.0 interface for Hyperion Planning and Hyperion Financial Management (HFM), configurable dimensionality in HFM, new Predictive Planning feature in Hyperion Planning, new Detailed Profitability feature in Hyperion Profitability and Cost Management, new Smart View interface for Hyperion Strategic Finance, and integration of the Hyperion applications with JD Edwards Financials.
For more information about Oracle EPM System R11.1.2.2 check out the links below:
Press Release: http://www.oracle.com/us/corporate/press/1575775
Product Information on O.com: http://www.oracle.com/us/solutions/business-analytics/overview/index.html
Product Information on OTN: http://www.oracle.com/technetwork/middleware/epm/downloads/index.html
Webcast Replay: http://www.oracle.com/us/go/index.html?Src=7317510&Act=65&pcode=WWMK11054701MPP046
Please contact me if you have any questions or need additional information – [email protected]
