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  • Oracle Joins XBRL US To Help Drive Adoption

    - by Theresa Hickman
    Recently, Oracle joined XBRL US, the national consortium for XML business reporting standards to stay ahead of the technology and help increase XBRL adoption by U.S. companies by 2011. Large accelerated filers were mandated to use XBRL starting in 2009; other large filers started in 2010 and all other public companies must comply in June 2011. Here is a list of other organizations that recently joined XBRL US: Oracle Citi Federal Filings LLC Edgar Agents LLC XSP For those of you who have been living under a rock, XBRL stands for eXtensible Business Reporting Language. Simply put, it's reporting electronically. Just like PDFs or spreadsheets are a type of output, XBRL is another output option in electronic form. Right now, the transition to XBRL means extra work for publicly traded companies because they need to file their financial statements in both EDGAR and XBRL formats. Once the SEC phases out the EDGAR system, XBRL will be the primary way to deliver financial information with footnotes and supporting schedules to multiple audiences without having to re-key or reformat the information. A single XBRL document can be converted to printed output, published via the Web, fed into an SEC database (e.g. EDGAR) or forwarded to a creditor for analysis. Question: How does Oracle support XBRL reporting? Answer: The latest XBRL 2.1 specifications are supported by Oracle Hyperion Disclosure Management, which is part of Oracle's Hyperion Financial Close Suite along with Hyperion Financial Management, Hyperion Financial Data Quality Management and Hyperion Financial Close Management. Hyperion Disclosure Management supports the authoring of financial filings in Microsoft Office, with "hot links" to reports and data stored in Hyperion Financial Management or Oracle Essbase. It supports the XBRL tagging of financial statements as well as the disclosures and footnotes within your 10K and 10Q filings. Because many of our customers use Hyperion Financial Management (HFM) for their consolidation needs, they simply generate XBRL statements from their consolidated financial results. Question: What if you don't use Hyperion Financial Management, and you only use E-Business Suite General Ledger or PeopleSoft General Ledger? Answer: No problem, all you need is Hyperion Disclosure Management to generate XBRL from your general ledger. Here are the steps: Upload the XBRL taxonomy from the SEC or XBRL website into Hyperion Disclosure Management. Publish your financial statements out of general ledger to Excel. Perform the XBRL tag mapping from the Excel output to Hyperion Disclosure Management. For more information and some interesting background on XBRL, I recommend reading What You Need To Know About XBRL written by our EPM expert, John O'Rourke.

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  • How can I make feasible the deployment of my application on the servers

    - by aklin81
    I am a Java Web Application Developer. I have an idea for a web application project that I am working on. I personally believe that the app has potential to become a popular website. Currently I am working on it as a developer with two others in the project. The development costs has been almost null uptil now since we are doing in-house development with open source technologies. But the costs are now going to appear as we'll have to host our application online on the servers. Right now I see this as the major expense as we go live. Are there any ways by which we can smartly deal with this hurdle ? We want to minimize the costs as much as possible, or even better, if we can make this null, perhaps, through some partnership agreement with the hosting solutions provider!? Your opinions are highly solicited!! Please enlighten with your experiences and knowledge. Thanks so much, for your time !

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  • Splitting up revenue among development team members on Apple's app store

    - by itaiferber
    A friend and I have started developing an app to put on Apple's app store. Development is going fine, but thinking ahead, we're trying to come up with an easy way to share any revenue coming from our efforts. The app store allows you to deposit your revenue into a single bank account, but there's no easy way to split revenue among several people. How do (small) dev teams split up revenue on their products, on, and off the app store? As far as I can tell, banks don't offer an easy way to automatically split the balance on an account 50-50 (or any other percentage, for that matter), especially on a regular basis. So how do teams deal with this? We're not incorporated, and we don't have an official business set up. We're considering depositing all the money into one of our accounts and manually transferring half the money to the other person, but this isn't sustainable over long periods of time. Is there a low-cost, sustainable, automatic process for handling these finances?

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  • To refund or not to refund this client?

    - by Mahalia Samuels
    I'd really appreciate your advice on an ongoing project. I presented my client with a proposal and design samples which he approved, and he paid in full instead of the 50% upfront deposit as I'd given him a generous discount. He was then slow in furnishing me with some of the content, but once we did, he expected the website to be finished immediately which was not possible. Because he needed it done urgently, we agreed to try to get it done about 10 working days after the content was provided, but the developer who was helping me let me down. The next week, I completed the website myself and uploaded it to the server on a Friday afternoon. He then calls and texts me on following Sunday while I'm at church to say it's not online (there was probably a problem with his browser). The next morning, I received an email from him demanding a full refund within two days because he couldn't see the website (even though it was live, and I tested it on multiple browsers, a different computer and my phone), and he called me shouting at me because he couldn't access it. Finally when he was able to access it, he was unhappy with a certain detail regarding the slideshow which I began fixing and which was done the next day. He then referred me to another website and said he wanted it to look similar but not identical to it in terms of the layout. He also now wanted to add more features which were not in the original design. I got a designer to work on a new design which I sent to him for review, which if approved would be completed by 15 October, and he approved it last Thursday. He then called me yesterday to say that he wanted to change the design - he only approved it out of impatience. He now wants the website to be more similar to the other website he referred me to and he wants it done before the 15th! Then, he says to me that other people have done websites for him in three days - website's he's complained to me about for lacking dimension because they were just premium themes, whereas we'd designed and coded from scratch. I'm thinking of finishing the website but refunding him in full (or at least the refundable 50%) less domain registration and other non-refundable amounts, just to avoid further escalation of this matter and having him call me next week and say he wants to change it again. These are the applicable terms and conditions as laid out in the agreement: Total amount due for this project is Amount A. Client shall pay Consultant a deposit of Amount B (50% of total amount due for project) in advance before any work commences on the Project. The balance is due within 7 working days of completion of project. Deposit is non-refundable. Should client opt to host elsewhere, applicable transferral fee of Amount C will apply. Estimated project completion time frame is 14 to 30 days from the date Client furnishes Consultant with Brief and all other required media and data, provided that Client has made payment to secure the project. Consultant will make every effort to meet agreed upon due dates. The Client should be aware that failure to submit required information or materials, or last minute changes and excessive changes may cause subsequent delays. Client delays could result in significant delays in delivery of finished work. Major changes in client input or direction or brief will be charged at normal rates. Any work the Client wishes Consultant to create, which is not specified in the attached Proposal will be considered an additional service. Client agrees to pay Consultant for any additional expenses or additional services not included in the attached quotation and proposal if requested by the Client. Web design credit in the name of the Consultant, and link to Consultant’s website shall be placed on the footer of the final Website. Either party may terminate this Agreement by giving 7 days written notice to the other of such termination. In the event that Work is postponed or terminated at the request of the Client, Consultant shall have the right to bill pro rata at full rates for work completed through the date of that request, while reserving all rights under this Agreement. If additional payment is due, this shall be payable within seven days of the Client's written notification to stop work. In the event of termination, the Client shall also pay any expenses incurred by Consultant and the Consultant shall own all rights to the Work. Advice please?

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  • What is the difference between being an IT in investment bank and a professional IT company?

    - by deepsky
    Suppose there are two positions: IT in investment bank: developer for the infrastructure or the platform a famous IT company: embedded developer, linux As far as I understand, since in the investment bank not everyone will have the chance to work for the core trading system, most people just do the same job as they do in a normal IT company. And some of the tasks can even be outsourced. But in a professional IT company, you will have more chance to practice your coding skill and enhance your professional knowledge. So there are many choices when you want to change your job while the IT in invest bank not. Is this correct?

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  • Open Financial Exchange (OFX) Banking API

    - by Gabriel Susai
    Hi, First of all I apologize if this question is asked before. I am planning to develop a small application which displays my bank account details(like Mint.com) where I can customize the display of my own. I want to know how and where to start. Where these OFX API's are available? Are they free or we need to pay and get access to those API? What is data format ( xml, xml/atom, json) ? Any article or document to understand this requirement and start developing? Any open source software where I can download the code and customize it? FYI : I am working on C#.Net. Any help would be appreciated. Edit : Mark : Thanks for you info. If I want to develop a application like Mint.com what are the other companies provide API's other than Yoodlee? Also any idea on the pricing? Thanks Gabriel Susai

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  • How to allow users to define financial formulas in a C# app

    - by Peter Morris
    I need to allow my users to be able to define formulas which will calculate values based on data. For example //Example 1 return GetMonetaryAmountFromDatabase("Amount due") * 1.2; //Example 2 return GetMonetaryAmountFromDatabase("Amount due") * GetFactorFromDatabase("Discount"); I will need to allow / * + - operations, also to assign local variables and execute IF statements, like so var amountDue = GetMonetaryAmountFromDatabase("Amount due"); if (amountDue > 100000) return amountDue * 0.75; if (amountDue > 50000) return amountDue * 0.9; return amountDue; The scenario is complicated because I have the following structure.. Customer (a few hundred) Configuration (about 10 per customer) Item (about 10,000 per customer configuration) So I will perform a 3 level loop. At each "Configuration" level I will start a DB transaction and compile the forumlas, each "Item" will use the same transaction + compiled formulas (there are about 20 formulas per configuration, each item will use all of them). This further complicates things because I can't just use the compiler services as it would result in continued memory usage growth. I can't use a new AppDomain per each "Configuration" loop level because some of the references I need to pass cannot be marshalled. Any suggestions?

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  • SQL Function for On Balance Volume (Financial Query)

    - by CraigJSte
    I would like to create a function for On Balance Volume (SQL Function). This is too complex of a calculation for met to figure out but here is the outline of the User Defined Table Function. If someone could help me to fill in the blanks I would appreciate it. Craig CREATE FUNCTION [dbo].[GetStdDev3] (@TKR VARCHAR(10)) RETURNS @results TABLE ( dayno SMALLINT IDENTITY(1,1) PRIMARY KEY , [date] DATETIME , [obv] FLOAT ) AS BEGIN DECLARE @rowcount SMALLINT INSERT @results ([date], [obv]) // CREATE A FUNCTION FOR ON BALANCE VOLUME // On Balance Volume is the Summ of Volume for Total Periods // OBV = 1000 at Period = 0 // OBV = OBV Previous + Previous Volume if Close Previous Close // OBV = OBV Previous - Previous Volume if Close < Previous Close // OBV = OBV Previous if Close = Previous Close // The actual Value of OBV is not important so to keep the ratio low we reduce the // Total Value of Tickers by 1/10th or 1/100th // For Value of Volume = Volume * .01 if Volume < 999 // For Value of Volume = Volume * .001 If Volume = 999 FROM Tickers RETURN END This is the Tickers table [dbo].[Tickers]( [ticker] [varchar](10) NULL, [date] [datetime] NULL, [high] [float] NULL, [low] [float] NULL, [open] [float] NULL, [close] [float] NULL, [volume] [float] NULL, [time] [datetime] NULL, [change] [float] NULL )

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  • Credit Card checksums and validations that do not require connection to the financial institution

    - by cjavapro
    The validations I know of are: Checksum the whole card number should add up to zero. (range is 0-9) Check the first digit(s) against the card type Check the length against the card type Check the CCV length against the card type (I think all the major types are 3 anyway) Of course make sure it is accepted card type as well as non expired. Are there any other validations :) (I expect many folks did not know about all of these) The reason I ask is because I overheard there was one to checksum number against expiration or CCV.. I just wanted to check.

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  • Building a financial app with Django

    - by mfalcon
    Hi guys, I'm building an app for a small business so I've to work with currencies, decimal numbers, etc... My goal is to create something like pulseapp.com. I've searched for opensource projects to look and the only thing I had found was django-cashflow. This app uses python-money. I've read some of the code and the ways it's coded seems a bit weird to me and it's not fully complete. Is the app worth to take a deep look? Does anyone know about another similar app? Is the task difficult or a begginer like me could find a way to code it himself?

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  • EPM and Business Analytics Talking-head Videos from Oracle OpenWorld 2013

    - by Mike.Hallett(at)Oracle-BI&EPM
    Normal 0 false false false EN-GB X-NONE X-NONE Here is a selection of 2 to 3 minute video interviews at this year’s Oracle OpenWorld: 1. George Somogyi, Solutions Architect, New Edge Group, talks about the importance of having their integrated Oracle Hyperion Platform consisting of Oracle Hyperion Financial Management, Oracle Hyperion Financial Data Quality Management, Oracle E-Business Suite R12 and Oracle Business Intelligence Extended Edition plus their use of Oracle Managed Cloud Services. Speaker: George Somogyi @ http://youtu.be/kWn0dQxCUy8 2. Gregg Thompson, Director of Financial Systems for ADT, talks about using Oracle Data Relationship Management prior to implementing an Enterprise Performance Management solution. Gregg confirmed that there are big benefits to bringing the full Oracle Hyperion Financial Close suite online with Oracle DRM as the metadata source. Reduced maintenance time and use of external consultants translates into significant time and cost savings and faster implementation times. Speaker: Gregg Thompson @ http://youtu.be/XnFrR9Uk4xk 3. Jeff Spangler, Director Financial Planning and Analysis for Speedy Cash Holdings Corp, talked to us about the benefits achieved through implementing Oracle Hyperion Planning and financial reporting solutions. He also describes how the use of Data Relationship Management will keep the process running smoothly now and in the future. Speaker: Jeff Spangler @ http://youtu.be/kkkuMkgJ22U 4. Marc Seewald, Senior Director of Product Management for Oracle Hyperion Tax Provision at Oracle, talks about Oracle Hyperion Tax Provision, how it is an integral part of the financial close process and that it provides better internal controls and automation of this task. Marc talks about Oracle Partners and customers alike who are seeing great value. Speaker: Marc Seewald @ http://youtu.be/lM_nfvACGuA 5. Matt Bradley, SVP of Product Development for Enterprise Performance Management (EPM) Applications at Oracle, talked to us about different deployment options for Oracle EPM. Cloud services (SaaS), managed services, on-premise, off-premise all have their merits, and organizations need flexibility to easily move between them as their companies evolve. Speaker: Matt Bradley @ http://youtu.be/ATO7Z9dbE-o 6. Neil Sellers, Partner, Qubix International talks about their experience with previewing Oracle’s new Planning and Budgeting Cloud Service. He describes the benefits of the step-by-step task lists, the speed of getting the application up and running, and the huge benefits of not having to manage the software and hardware side of the planning process. Speaker: Neil Sellers @ http://youtu.be/xmosO28e4_I 7. Praveen Pasupuleti, Senior Business Intelligence Development Manager of Citrix Systems Inc., talks about their Oracle Hyperion Planning upgrade and the huge performance improvement now experienced in forecasting. He also talked about the benefits of Oracle Hyperion Workforce Planning achieved by Citrix. Speaker: Praveen Pasupuleti @ http://youtu.be/d1e_4hLqw8c 8. CheckPoint Consulting, talked to us about how Enterprise Performance Management should be viewed as an entire solution, rather than as a bunch of applications in silos, to provide significant benefits; and how Data Relationship Management can tie it all together effectively. Speaker: Ron Dimon @ http://youtu.be/sRwbdbbXvUE 9. Sonal Kulkarni, Enterprise Performance Management Leader, Cummins Inc., talks about their use of Oracle Hyperion Financial Close Management (Account Reconciliation Manager), Oracle Hyperion Financial Management and Oracle Hyperion Financial Data Quality Management and how this is providing efficiency, visibility and compliance benefits. Speaker: Sonal Kulkarni @ http://youtu.be/OEgup5dKyVc 10. Todd Renard, Manager Financial Planning and Business Analytics for B/E Aerospace Inc., talks about the huge benefits that B/E Aerospace is experiencing from Oracle Financial Close Suite. He was extremely excited about Oracle Hyperion Financial Data Quality Management and how this helps them integrate a new business in as little as three weeks. Speaker: Todd Renard @ http://youtu.be/nIfqK46uVI8 11. Peter Smolianski, Chief Technology Officer for the District of Columbia Courts, talked to us about how D.C. Courts is using Oracle Scorecard and Strategy Management to push their 5 year plan forward, to report results to their constituents, and take accountability for process changes to become more efficient. Speaker: Peter Smolianski @ http://www.youtube.com/watch?v=T-DtB5pl-uk 12. Rich Wilkie, Senior Director of Product Management for Financial Close Suite at Oracle, talked to us about Oracle Financial Management Analytics. He told us how the prebuilt dashboards on top of Oracle Hyperion Financial Close Suite make it easy for everyone to see the numbers and understand where they are in the close process, and if there is an issue, they can see where it is. Executives are excited to get this information on mobile devices too. Speaker: Rich Wilkie @ http://www.youtube.com/watch?v=4UHuHgx74Yg 13. Dinesh Balebail, Senior Director of Software Development for Oracle Hyperion Profitability and Cost Management, talked to us about the power and speed of Oracle Hyperion Profitability and Cost Management and how it is being used to do deep costing for Telecoms, Hospitals, Banks and other high transaction volume organizations effectively. Speaker: Dinesh Balebail @ http://youtu.be/ivx5AZCXAfs /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Calibri","sans-serif"; mso-bidi-font-family:"Times New Roman"; mso-ansi-language:EN-US; mso-fareast-language:EN-US;}

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  • ArithmeticException thrown during BigDecimal.divide

    - by polygenelubricants
    I thought java.math.BigDecimal is supposed to be The Answer™ to the need of performing infinite precision arithmetic with decimal numbers. Consider the following snippet: import java.math.BigDecimal; //... final BigDecimal one = BigDecimal.ONE; final BigDecimal three = BigDecimal.valueOf(3); final BigDecimal third = one.divide(three); assert third.multiply(three).equals(one); // this should pass, right? I expect the assert to pass, but in fact the execution doesn't even get there: one.divide(three) causes ArithmeticException to be thrown! Exception in thread "main" java.lang.ArithmeticException: Non-terminating decimal expansion; no exact representable decimal result. at java.math.BigDecimal.divide It turns out that this behavior is explicitly documented in the API: In the case of divide, the exact quotient could have an infinitely long decimal expansion; for example, 1 divided by 3. If the quotient has a non-terminating decimal expansion and the operation is specified to return an exact result, an ArithmeticException is thrown. Otherwise, the exact result of the division is returned, as done for other operations. Browsing around the API further, one finds that in fact there are various overloads of divide that performs inexact division, i.e.: final BigDecimal third = one.divide(three, 33, RoundingMode.DOWN); System.out.println(three.multiply(third)); // prints "0.999999999999999999999999999999999" Of course, the obvious question now is "What's the point???". I thought BigDecimal is the solution when we need exact arithmetic, e.g. for financial calculations. If we can't even divide exactly, then how useful can this be? Does it actually serve a general purpose, or is it only useful in a very niche application where you fortunately just don't need to divide at all? If this is not the right answer, what CAN we use for exact division in financial calculation? (I mean, I don't have a finance major, but they still use division, right???).

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  • Which technologies will most affect Financial Services over the next decade? [on hold]

    - by opposite of you
    I couldn't quite think of a proper description, so as Wikipedia puts it so beautifully: Financial services are the economic services provided by the finance industry, which encompasses a broad range of organizations that manage money, including credit unions, banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises. These are quite a range of industries. I've already thought about how banks specifically have gotten involved with app markets allowing users to make transfers on the go, and this goes with cloud computing, but what else could there be apart from mobile technologies and cloud computing? Or how else could they be used? I feel like I'm thinking about this wrong.. Apart from mobile computing and cloud computing, what other examples will influence the sector either positively or negatively?

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  • Recommendation for high performance WPF Chart

    - by Ajaxx
    We're working on a WPF-based desktop application that charts financial markets information (candlestick charts, overlayed indicator curves, volume, etc). The charts are displayed in real-time with responses to market ticks being shown in real-time (updating one to two times per second is probably a reasonable display refresh policy). We've been looking for a software package (commercial is fine by us) that has the capability of displaying these charts. Additionally, we'd like to have an approach that can render the initial amount of data in a reasonable timeframe (give or take 100-200ms from the time we hand the data over to a complete render on screen). Also we view multiple charts (5-10) simultaneously so a solution that chews up 50% of my CPU to display one chart really isn't going to work well. Has anyone had any good experiences with charting controls. We've had to hand roll the last few charts we've done and I'd prefer not to do it again. Solutions that can make use of the GPU to minimize CPU utilization would be nice as well.

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  • What are good ways to guarantee business continuity with a SaaS product?

    - by tommyvdz
    For my Bachelor Thesis I am researching how SaaS providers can arrange some sort of business continuity guarantee. You probably know the Source Code Escrow arrangements for 'shrink-wrapped' software. They give customers access to the source code and all applicable documentation whenever the software supplier gets into (financial) trouble. This clearly does not work for SaaS, because customers have no use for just the source code, and customers probably can not afford not being able to login to their CRM system for a couple weeks because the SaaS provider went bankrupt. I am currently researching different methods to solve this problem. Do you know good and practical solutions to solve this continuity problem? Or companies that already offer a good solution? Thanks!

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  • How to fundamentally approach creating a 'financial planner' application?

    - by Anonymous -
    I want to create a financial planning application (for personal use), for which the overall functionality will be this: User (me..) can create different 'scenarios'. Each scenario is configured with different incomings/outgoings. Scenarios can be 'explored' in a calendar format with projections taking into account tax, interest (on both debt and savings) and so on and so forth. My problem lies in how to fundamentally approach the project. I've considered: When creating incomings/outgoings for a script to apply them to each day in a 'days' table of a database, acting as a method of caching. This means that if I wanted to look at January 14th, 2074 there aren't thousands of cycles of calculations to run through and the result can just be pulled. Do each calculation dynamically, but again, I'm finding it hard to visuallize how I would handle different tax allowances (I'm based in the UK by the way), payrises and 'changes' to my incomings/outgoings. I've sat on this for a couple of days and am struggling to come up with an elegant approach to my problem. There may well be software out there that does what I'm looking to do (in fact I'm sure it is) but I would like to develop this myself for learning purposes, to be able to add it to my personal life 'toolset' and to allow me to expand on it in the future. Many thanks to all who have any input on my dilemna.

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  • Why does derivative trading position always require C++ knowledge?

    - by Jeffrey
    I’ve never worked in trading environment before and I was curious to see that few of the trading houses seem to use C# but most of them do heavily rely on C++. Why is it? Is it because C++ is better performance wise? Is it because of legacy code base? Is it because cross platform issue? What about dynamic languages (ruby, python)? Are they too slow for this kind of work in terms of performance? Updated: If realibility and performance are important would "Erlang" be the "next big thing" in trading platform?

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  • How can I estimate server costs for creating an app?

    - by G Dottin
    Im writing up a business plan and im having some trouble with the finance part. I put an estimate on the cost of developers, web designers and everything but server costs. Im not a programmer so I dont know all the details. But how much would you think servers are going to cost for a complex app. I cant get into too many details but it keeps track of user preferences, stores data about the user and there is quite alot of back-end to it.

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  • What library should I use for financial product pricing?

    - by watkins
    I work in software division of a large bank and we are considering writing our own financial library. However, before we embark in such a project, I want to check that there is no such library on the market. We would need to have the following feature: Pricing of derivative products (options, futures, swaps, etc) Different financial models Hedging / risk management Open source would be great if it's stable. Otherwise, we would purchase the source code. We are looking for C#/.NET.

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  • What kind of innovative non-cash financial benefits do I offer to my developers to retain them along with a competitive salary?

    - by Fanatic23
    Stock options don't make much sense, since the company's private. [It still does, if you are a facebook of sorts AND the regulatory system permits sites like secondmarket, but I digress.] I could think of some: Health benefits to parents and parents-in-laws Sponsoring a fuel-saving bike to drive to office Gift cards for occasions like completion of 1, 3, 5 years of service I really could do with more suggestions here. Appreciate 1 response per entry for ease of up-voting.

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  • Premera Blue Cross Deploys PeopleSoft Enterprise 9.1 Human Capital Management, Financial Management, Enterprise Learning Management and Enterprise Portal Solutions

    - by jay.richey
    Optimum Solutions Implements Oracle's PeopleSoft Enterprise 9.1 at Premera Blue Cross Premera chose to upgrade to the latest version of PeopleSoft to help the company achieve its strategic goals, which include building and maintaining a skilled employee team that enables the company to deliver highly efficient and valuable service to plan subscribers, sponsors, and healthcare providers. Its decision was influenced by the key capabilities in PeopleSoft Talent Management 9.1, as well as the common technology enhancements for the PeopleSoft PeopleTools 8.50 toolset across all business process areas, which has helped Premera to maximize process automation, increased ease of use, and minimize long term IT support overhead. Read more...

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  • 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]

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  • Challenges in Corporate Reporting - New Independent Research

    - by ndwyouell
    Earlier this year, Oracle and Accenture sponsored a global study on trends in financial close and reporting. We surveyed 1,123 finance professionals in large organizations in 12 countries around the world during February and March. Financial Consolidation and Reporting is the most mature aspect of Enterprise Performance Management with mainstream solutions having been around for over 30 years. But of course over this time there have been many changes and very significant increases in regulation. So just what is the current state is Financial Consolidation and Reporting in our major corporations across the world? We commissioned this independent research to find out. Highlights of the result are: •          Seeking change: Businesses recognize they need to invest in financial reporting to address the challenges they currently face. 47 percent of companies have made substantial investments over the last year to the financial close, filing, and reporting processes. •          Ineffective investments: Despite these investments, spreadsheets (72 percent) and e-mails (68 percent) are still being used daily to track and manage reporting, suggesting that new investments are falling short of expectations. •          Increased costs and uncertainty: The situation is so opaque that managers across the finance function are unable to fully understand the financial impact or cost implications of reporting, with 60 percent of respondents admitting they did not know the total cost of managing and publicizing their financial results. •          Persistent challenges: 68 percent of respondents admitted that they have inadequate visibility into reporting processes, while 84 percent of finance managers surveyed said they find it difficult to control the quality of financial data across the entire reporting process. •          Decreased effectiveness: 71 percent of finance managers feel their effectiveness is limited in some way by data-analysis–related issues, while 39 percent of C-level or VP-level respondents say their effectiveness is impaired by limited visibility. •          Missed deadlines: Due to late changes to the chart of accounts, 15 percent of global businesses have missed statutory filings, putting their companies at risk of financial penalties and potentially impacting share value. The report makes it clear that investments made to date by these large organizations around the world have been uneven across the close, reporting, and filing processes, which has led to the challenges these organizations currently face in the overall process. Regardless of whether companies are using a variety of solutions or a single solution, the report shows they continue to witness increased costs, ineffectual data management, and missed reporting, which—in extreme circumstances—can impact a company’s corporate image and share value. The good news is that businesses realize that these problems persist and 86 percent of companies are likely to make a significant investment during the next five years to address these issues. While they should invest, it is critical that they direct investments correctly to address the key issues this research identified: •          Improving data integrity •          Optimizing processes •          Integrating the extended financial close process By addressing these issues and with clear guidance on how to implement the correct business processes, infrastructure, and software solutions, finance teams will find that their reporting processes are much more effective, cost-efficient, and aligned with their performance expectations. To get a copy of the full report: http://www.oracle.com/webapps/dialogue/ns/dlgwelcome.jsp?p_ext=Y&p_dlg_id=11747758&src=7300117&Act=92 To replay a webcast discussing the findings: http://www.cfo.com/webcast.cfm?webcast=14639438&pcode=ORA061912_ORA

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  • Why Banks or Financial Companies prefer Oracle than other RDBMS for their "Core" systems?

    - by edwin.nathaniel
    I'd like to know why most Banks or Financial companies prefer Oracle than other RDBMS for their core systems (the absolutely minimum features that a Bank must support). I found a few answers that didn't satisfy me. For example: Oracle has more features. But features for what? Can't you implement that in application level if you were not using Oracle? Could someone please describe a bit more technical but still on high-level overview of what the bank needs and how Oracle would solve it and the others can't or don't have the features yet? I came from the web-app (web 2.0) crowd who normally hear news about MySQL, PostgreSQL or even key-value/column-oriented storage solution. I have almost zero knowledge on how Banks or Financial companies operates from technical perspective. Thank you, Ed

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