Finance Insights

To Upgrade or Not to Upgrade Your EPM

Posted by Bill Lowry on November 7, 2017

 

To Upgrade or Not to Upgrade Your EPMThe need to upgrade can happen whether in your personal life or your EPM.  

My wife pointed out to me the other day that we have been living in our current home for exactly 11 years. That got me thinking about our first home, which we purchased not long after we were married many years ago. As newlyweds with no kids, it was perfect. Three bedrooms meant we had one room for a home office and another for a dedicated guest room, which was great for encouraging her family, who lived at a distance, to visit more often.

Soon, however, the needs of our family changed. First, our son was born, so our dedicated home office and guest room became combo space to make room for the nursery. Then, we wanted more outdoor space as our son became older and needed more room to play and run.

It became apparent that, although the house was once perfect for us, it was quickly going to be time to upgrade as it no longer met the needs of our growing family. The need for an upgrade, also happens quite often in the corporate finance space.

Change is Constant

Organizations and their business and functional requirements are constantly in flux.

Perhaps your organization implemented Oracle Hyperion Planning a few years back and the solution worked wonderfully – until your business needs changed. Or maybe your Essbase reporting cube was perfect to meet your senior management’s reporting needs – right up to the point where they started to ask for data that wasn’t in there.

Companies generally respond to these growing pains in one of two ways: either they make changes to their applications or they go back to using off-line spreadsheets. If you find yourself challenged by updating your current Hyperion forms, calculations and reports to meet new functional requirements, or have given up and gone back to spreadsheets, please know you are not alone. All organizations experience similar challenges as their systems mature and business needs change.

What’s Next?

EPM solutions from Hyperion applications are designed to be administered by business users, but you are not expected to be an expert developer. The challenges of trying to adapt your solution to meet new requirements can be frustrating, sometimes to the point where the temptation to start over is irresistible.

If you reach this point, Emtec can help. We can help your organization face growing pains by first assessing your solution’s original design and functional needs against your current requirements. We then can recommend ways to help you upgrade functionality effectively and efficiently leveraging your existing investment in Oracle Hyperion.

Sometimes we’ve helped organizations assess their current solutions and emerging needs when they were just about at that breaking point, only to have them realize that they just needed an additional module or slight customization to have it function the way want. They really didn’t need to completely rip and replace the entire system after all.

Sitting in our little house watching our baby take his first steps, my wife and I thought we were going to have to trade up. After talking to family members who had faced similar challenges and reassessing our needs, it turned out that all we really needed to do was upgrade our home by finishing unused basement space and clearing out trees on our land to make some more room.

Our newly upgraded home continued to serve the needs of our family even as our son grew older. Just like a house can be customized to fit a growing family, Emtec can help you extend the life of your Oracle Hyperion applications for your expanding business.

Join our webinar Nov. 16 to learn the top reasons why ERP performance suffers and how your can maximize your investment.

Contact us today to learn more!

Topics: EPM, .Finance, Oracle Hyperion

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