PBCS, FCM, HFM, BICS, DRM… Having trouble figuring out which Oracle Enterprise Performance Management (EPM) product mix will meet the needs of your organization? You’ve come to the right place.
On-Premise vs. Cloud
Oracle’s latest Enterprise Performance Management (EPM) offerings can be split into two major categories:
On-premise solutions require a significant initial investment to setup data center infrastructure, and require a fully-staffed IT support team to keep that infrastructure up-to-date and running smoothly.
Cloud solutions significantly reduce the up-front investment and support costs, because Oracle hosts the applications on their cloud servers.
There are many additional considerations, but the above table offers a basic overview of the primary benefits of each approach.
Oracle EPM Product Categories
Oracle Enterprise Performance Management (EPM) Applications leverage transactional and financial data to measure and benchmark an organization’s financial performance. The goal of Enterprise Performance Management is to transform the raw business data into meaningful, actionable business intelligence (BI) in the form of financial reports and real-time performance output.
Primary EPM activities include:
- Planning, Budgeting, and Forecasting
- Financial Close and Reporting
- Profitability and Cost Management
Planning, Budgeting, and Forecasting
Oracle’s Hyperion Planning suite of products delivers a purpose-built financial planning, budgeting, and forecasting solution, combining data from all aspects of your organization to create a centralized plan for the future. This process may include outyear forecasting based on historical data and drivers, consolidation of financial data from subsidiaries, workforce planning, currency conversion and consolidation, and/or financial reporting.
Planning and Budgeting Cloud Service (PBCS / Hyperion Planning)
Create financial planning applications to forecast future financial needs
Hyperion Strategic Finance (HSF)
Utilize what-if modeling, on-the-fly scenario analysis, and additional modeling capabilities for sophisticated debt and capital structure management
Hyperion Workforce Planning (WFP)
Leverage prebuilt functionality for planning personnel head count, salary, benefits, and other compensation packages.
Hyperion Capital Asset Planning
Automate capital asset planning and capital asset-related expenses
Financial Close and Reporting
Oracle’s Hyperion Financial Close Management equips organizations with an extended financial close and reporting solution, integrating all parts of period-end close activities including data loading and mapping, ledger and subledger close, financial consolidation, account reconciliation, and both internal and external reporting processes.
Enterprise Performance Reporting Cloud Service (EPRCS)
Integrate author, review, manage, and publish reporting packages
Hyperion Financial Management (HFM)
Perform financial consolidation and reporting with consistency and precision
Hyperion Disclosure Management (DM)
Effectively manage development of internal and external reports
Account Reconciliation Cloud Service (ARCS / AR)
Efficiently manage and improve global account reconciliation
Hyperion Financial Close Management (FCM)
Manage all financial close cycle tasks, including ledger and subledger close, data loading and mapping, financial consolidation, account reconciliation, tax/treasury and internal and external reporting processes
Financial Management Analytics
Provide business critical information about the financial close process and financial results through integration with FCM and HFM
Hyperion Financial Data Quality Management Enterprise Edition (FDQM / FDM / FDMEE)
Develop standardized and automated financial data integration processes, including prepackaged adaptors for HFM, Planning, HSF, Hyperion Enterprise, and Essbase
Profitability and Cost Management
Oracle’s Profitability and Cost Management solution empowers Executives to uncover the drivers of cost and profitability within their organizations. This data-driven tool helps accurately allocate costs, regardless of methodology, leading to increased confidence in allocations.
Hyperion Profitability and Cost Management (PCM)
Empowers organizations to improve resource alignment through identification of cost and profitability drivers
Additional Oracle Enterprise Performance Management Platform Applications and Tools
Data Relationship Governance (DRG)
Monitor changes across transactional and analytical systems to ensure consistency and accuracy
Data Relationship Management (DRM)
Manage changes in master data to ensure consistency across operational, analytical, and enterprise performance management perspectives.
Hyperion Financial Reporting (HFR)
Design and develop financial reports for Planning and Essbase sources
Business Intelligence Foundation/Business Intelligence Cloud Service (OBI / OBIEE / BICS)
Generate comprehensive operations reports, power real-time interactive dashboards, and utilize native data source integrations
Perform data analysis within Microsoft Excel, producing reports on data sources such as Essbase, Planning, and HFM
Backend OLAP (Online Analytical Processing) Engine
There are many many more Oracle EPM acronyms in use, but for now the above can serve as a baseline to get started.
Any acronyms still throwing you for a loop? Let us know in the comments!