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What’s New and What’s Coming: Financial Close in the Cloud

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Many of the world’s largest organizations rely on Oracle Hyperion Financial Close Suite to meet their complex and ever-changing financial and nonfinancial reporting requirements while also lowering the cost of compliance and delivering an unprecedented level of data quality. The purpose of this session is to introduce and demonstrate the new Oracle Hyperion Financial Close Suite cloud-based solutions as well as discuss the roadmap for further cloud solutions.

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What’s New and What’s Coming: Financial Close in the Cloud

  1. 1. OpenWorld 2015 CON7031 – What’s New What’s Coming Financial Close in the Cloud Richard Wilkie Sr Director EPM October 28, 2015 Oracle Confidential – Internal/Restricted/Highly RestrictedCopyright © 2015, Oracle and/or its affiliates. All rights reserved. |
  2. 2. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | 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. Oracle Confidential – Internal/Restricted/Highly Restricted 2
  3. 3. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | of surveyed companies currently use or will consider deploying EPM in the cloud over the next year Finance Sees the Benefits of Cloud > 75% Source: Oracle 2014 Top Trends Research
  4. 4. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Finance Sees the Benefits of Cloud Source: Oracle 2014 Top Trends Research
  5. 5. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Deployment • No IT involvement • Can be departmental solutions rather than Enterprise • Easier to deploy globally since operators have Global data centers
  6. 6. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Cloud: Global Data Centers • Unsurpassed Global & Regional Coverage • State of the Art Facilities – Tier IV Class • Baseline 99.999% Availability of Power/Cooling • 24X7 Active Monitoring and Support Chicago Ashburn Austin Japan Singapore Sydney CY15 Linlithgow Amsterdam London Brazil CY15 Germany Canada Melbourne CY15 PBCS
  7. 7. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Cost • Less upfront cost • CAPEx v/s Opex • Cheaper consulting wise since many Cloud applications have configurations built in
  8. 8. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Speed • Quick to get started since the system can be up in hours v/s months • Always available since operator is doing all the backups/uptime etc. • New features/functions quickly available in frequent service updates
  9. 9. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Installation Patching Upgrade On Cloud • No Hardware  Reduced Implementation Time No Set-up & Maintenance Requirements Design Build Learn Roll Out  Retain Configurations & Customizations
  10. 10. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Simplicity • Cloud apps are modern – Social, Mobile, Analytics built in • User interface is simpler so easier to adopt
  11. 11. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle EPM Cloud - • Oracle EPM Cloud is Comprehensive 1. Planning and Budgeting Cloud Service: General Availability 2. Enterprise Performance Reporting Cloud Service: General Availability 3. Planning and Budgeting Enterprise Cloud Service: Active Development 4. Financial Consolidation and Close Cloud Service: Active Development 5. Account Reconciliation Cloud Service: Active Development 6. Profitability & Cost Management Cloud Service : Active Development 7. Essbase Cloud Service : Active Development 8. Tax Provision and Reporting Cloud Service: Active Development
  12. 12. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle EPM Cloud Service 14 Planning (PBCS, EPBCS, PSPBCS, HEPBCS) Corporate Finance & Tax Operational Users Executive Information Technology Financial Close (FCCS, TPRCS, ARCS) EPM Cloud Platform Configurable Platform Automated Oracle Updates Secure & Scalable ESSBASE
  13. 13. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | • Comprehensive stand-alone Tax Provision & Reporting solution • Data Collection • Calculation • Reporting • Integration with Financial Consolidation and Close Cloud Service (FCCS) • Simplified Tablet Interface • Data & metadata integration with On-premise finance systems • Secure: Role-based, auditable access • Governance-Like capability included in cloud service • Expected migration from HTP • Enterprise Grade: Security, High Availability, Scalability • Fully Managed: Patched, Backed Up, Upgraded by Oracle Oracle EPM Cloud Oracle Tax Provision and Reporting Cloud Service
  14. 14. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | • Address the global reconciliation process • For each process provide complete lifecycle including – verifications, tracking of assignments, managing preparation and review, minimizing risk and optimizing the process. • Integrated with transaction systems • Flexible and robust user owned reporting • Fully integrated with the EPM Cloud Oracle EPM Cloud Oracle Account Reconciliation Cloud Service
  15. 15. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | ARCS Benefits • All the great functionality in On Premise ARM plus: • Simplified Tablet User Interface • New analytics covering operational performance and compliance • Supporting “social interactions” around reconciliations • Quick deployments – Pre-Defined content – Flexible integrations
  16. 16. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Demo Oracle Confidential – Internal/Restricted/Highly Restricted 18
  17. 17. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | • Management and Legal Entity consolidation needs for broad spectrum of customers • Significant out of the box functionality with limited need for customization (no scripting) • Out of the box calculations, hierarchies and reports for quick deployments • Built in task orchestration and detailed data collection for management of overall process • Flexible, robust user owned reporting • Fully integrated with the EPM Cloud • Delivered under Enterprise Hosting Policy Oracle EPM Cloud Oracle Financial Consolidation and Close Cloud Service
  18. 18. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | FCCS Benefits • Simplified Tablet User Interface • Native dashboarding and analysis • Dynamic out-of-box calculations with limited need for customization (no scripting) • Built-in Balance Sheet Movement Translations with FX / CTA Calculations • Simplified Consolidation Dimension for easy audit • Predefined dimensions for detailed analysis • Automated Cash Flow • Powerful close orchestration and detail data collection • Supporting “social interactions” around close and consolidation
  19. 19. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | • Consolidation – Predefined dimensions with built-in Financial Intelligence – Flexible application configuration with pre-built forms & reports – Standard consolidations & eliminations – Currency translations and FX adjustment calculations – Built-in KPI ratio analysis – Custom calculations using member formula – Automated Cash Flow – Data source detail tracking with drill through capability – Multi-GAAP support – Approvals – Journal entry with approval workflow – Intercompany matching – Data audit • Close Calendar – Task Management – Workflow • Supplemental Schedules – Data Collections • FCCS Dashboard Oracle Confidential – Internal/Restricted/Highly Restricted 21 FCCS Functionality in first release
  20. 20. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Demo Oracle Confidential – Internal/Restricted/Highly Restricted 29
  21. 21. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Data Integration • File based only • Metadata must be in specific format • Data load options – Native format – Data Management • Data in delimited , fixed or Excel formats Oracle Confidential
  22. 22. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Automated Patching & Upgrades • Patch Every Month • New Features Every Few Months (expected 3-4) • Patches Automatically Applied During Maintenance Window • Bug Fixes Patches Applied to Pre-Prod and Prod instance • Feature updates done with 3 weeks window between Pre-Prod and Prod • Emergency Fixes Applied As Needed
  23. 23. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal 57 Classroom Training Learning Subscription Live Virtual Class Training On Demand Keep Learning with Oracle University education.oracle.com Cloud Technology Applications Industries

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