This week we thought we would share a brief video that shows a recent implementation where Seismi managed to use Oracle Hyperion Data Relationship Manager (DRM) to create a Finance Hub for a large corporate client. This enabled the client to achieve the following:
- govern a general ledger containing disparate charts of accounts;
- model a standard set of reporting structures covering both financial and non-financial information;
- control the mapping between the general ledger, a standard view of the business, as well as consistent reports definitions for all business units; and
- create a set of standard reports that could be delivered to SAP Business Objects and Oracle’s Essbase (or any other reporting tool for that matter!).
The benefits of this approach were wide-ranging and included the following:
- Control of the core general ledger and reporting structures was placed in the hands of the business users;
- Business rules were deployed to ensure that these users proactively considered the impact of general ledger changes on core financial reports at the point of entry;
- Reconciliation between applications has been removed as Hyperion DRM enforces the necessary mappings; and
- Month-end processing time has been significantly reduced because users have confidence in the figures being reported.
This project delivered a truly robust approach to governance and reporting by integrating the general ledger with the client’s Enterprise Performance Management requirements.