Finance Insights

Maximizing the Horsepower of Your EPM

Posted by Bill Lowry on Nov 14, 2017 8:07:00 AM

A little background before I jump to Enterprise Performance Management– one day when I returned home from a business trip when my son was about 6 months old, I noticed that he had lined up all his toys that had wheels in a straight line across the floor of our family room. It was therefore no shock that as he has grown into a teenager, his love for cars has grown in equal measure. He earned his driver’s license on his 16th birthday, and my admiration, when he used money earned from his landscaping job to buy his first car.

Like many first cars, the vehicle he bought for $1,400 is a 12-year-old high mileage hatchback. So, he has learned the necessary skills to maintain it and is obsessed with getting every bit of performance out of it - that his limited budget allows. He continues to save more money to put toward incremental improvements to the suspension and steering, and to increase the power of the engine. I asked him recently when he will be satisfied and his answer was, “When it runs like new.”

That got me thinking in a different direction.

In the Oracle Hyperion consulting business, we often run into cases where organizations have a planning or reporting solution that no longer runs like new. They often get frustrated because they can still remember when the system’s reports refreshed quickly, calculations ran faster, and, like a new car, everything else was just smoother. The horsepower just isn’t there anymore.

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Topics: EPM, .Finance

To Upgrade or Not to Upgrade Your EPM

Posted by Bill Lowry on Nov 7, 2017 11:05:00 AM

 

The 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.

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Topics: EPM, .Finance, Oracle Hyperion

5 Legal Risks Professional Services Organizations Face – and How to Manage Them

Posted by Adrienne Bouleris on Oct 9, 2017 9:06:22 AM

Professional services organizations, especially those providing app dev and IT consulting services, provide intangible expertise and therefore face a unique set of legal risks.

This blog describes 5 legal risks professional services organizations often face and how their C-level leaders, legal team and other departments should work together to help mitigate them.

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Topics: ERP, .HR, .Finance, .Sales and Marketing, Oracle HCM Cloud

Niche Accelerators for Oracle HCM Cloud Save Payroll Headaches

Posted by Richard Marko on Aug 28, 2017 8:23:00 AM

In addition to integrating Oracle HCM Cloud with ADP to better manage the Affordable Care Act reporting requirements as discussed in a previous post, there are other ways businesses can configure the software to better manage various payroll functions. 

Emtec has built specific accelerators designed to extend Oracle’s guidance about local employer tax configurations and how to pay terminated employees. These two configurations, which can be set up quickly in an organization’s Oracle HCM Cloud system, are the most common requests we receive.

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Topics: .HR, .Finance, .IT

Business Profitability Analysis Beyond the General Ledger

Posted by Dan Franceschina on Aug 21, 2017 8:27:00 AM

Companies are always seeking new ways to analyze their business profitability to discover how they can gain a competitive edge in the market. 

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Topics: .Finance, PBCS, Oracle Hyperion, Profitabilty

Accelerator Integrates Oracle HCM Cloud with ADP Systems

Posted by Sarju Shah on Aug 14, 2017 9:04:00 AM

Many organizations are seeking a more direct interface between their HCM and payroll systems to get a better handle on managing all their employee data. However, Oracle HCM Cloud toolsets currently does not offer an out of the box integration with ADP's HCM and Payroll systems like GlobalView, Streamline, or Workforce Now.

Working with numerous clients that have this challenge, Emtec developed an accelerator specifically within the Oracle HCM Cloud system that enables organizations to send data to an ADP payroll system. While potential use cases for this type of accelerator are limitless, we’ve worked with numerous clients that had one specific challenge in mind that could benefit from such integration.

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Topics: .HR, .Finance, .IT, Oracle HCM Cloud, ADP

KPIs to Measure for a Successful IT Project

Posted by Don Sweeney on Jun 6, 2017 10:32:00 AM

Many organizations approach IT projects only by their technical objectives, such as “implement X module(s)” or “replace XX application with YY application.” 

There are two main drawbacks to this process: it doesn’t address the business value of why they are doing the project in the first place and it doesn’t include any specific or measurable goals. 

To help better define and ensure success for an IT project or other initiative, organizations should identify Key Performance Indicators (KPIs) during project planning, and refer to them during implementation and rollout to guarantee primary objectives are met.

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Topics: Key Performance Indicators (KPI), .Finance, .Sales and Marketing, .IT, Business Case, Time to Value

Finance Departments Must Keep Pace with Technology Trends

Posted by Greg Chandler on May 10, 2017 10:43:00 AM

 

It’s a revolutionary time for finance departments. New technologies and processes have changed the landscape of best practices within finance organizations, making integration of information critical with other business units across the enterprise. And these new trends are affecting finance departments from the top down.

For example, CFOs can no longer solely cost justify new systems or processes based on how much leaner it will make their organization, as technology already has enabled many larger and some mid-sized companies to offshore some of their resources, as well as create better interfaces among their systems. Also, traditional accounting and data processing roles within many organizations are being additionally tasked with running analyses to spark data-driven decisions enterprise wide.

Finance departments, not wanting to look like a dinosaur, need to be on the forefront of these emerging notions. By changing the ways they approach technologies and processes to better mirror new industry standards, finance departments can help transform their entire organization into a more effective and efficient company.

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Topics: ERP, Company Culture, .Finance, CFO, Oracle ERP Cloud, Oracle Cloud, Cloud Computing Solutions

Preventing ERP Implementation Failure

Posted by Emtec Blog Team on Apr 19, 2017 4:42:10 PM

 

Enterprise resource planning (ERP) systems are key to streamlining business processes and ensuring visibility into the health of the overall organization.

Unfortunately, failed ERP implementations have kept organizations from realizing the benefits of such technology. For example, a 2015 IBM Change Management survey showed that 60% of IT projects failed to meet scheduling, budgeting or quality goals.*

With fresh and innovative technologies abound, many organizations are looking to upgrade or modernize their ERP systems to take advantage of the latest in cloud, mobile and application functionality that wasn’t previously available.  But how do you avoid becoming another statistic and ensure you realize the return on such a critical investment?

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Topics: ERP, .Finance, ERP Implementation Failure

Planning - Seinfeld Bizarro Style

Posted by Bill Lowry on Sep 7, 2016 9:36:30 AM

Image Credit: Stocksnapper / Shutterstock.com
Image used under license from Shutterstock.com

There is an episode of Seinfeld in which the female lead, Elaine, meets a new group of friends who are very similar to her longtime pals Jerry, George, and Kramer. They are similar except that the new group gathers in an apartment which is arranged in the opposite of Jerry’s, and whereas Elaine’s old friends are selfish, indifferent, even sometimes mean, the members of the new group are the opposite: they are caring, conscientious, and friendly.

In reference to the DC Comics character Bizarro, who is the opposite of Superman, Elaine begins to refer to her new friends as Bizarro Jerry, Bizarro Kramer, etc. At first, her new friends are a welcome relief from the annoying habits of her old friends, but soon, the subtle differences between Elaine’s friends and her Bizarro friends begins to irritate her, and she breaks things off with the Bizarro group.

If you are used to working with Oracle Hyperion Planning and have logged into Oracle’s Planning and Budgeting Cloud Services (PBCS), it may seem a bit like you have just discovered (at risk of going afoul of DC Comics’ copyright) Bizarro Planning.

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Topics: EPM, .Finance, PBCS, .IT, Oracle Cloud, SmartView, Cloud Computing Solutions

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