Visual Media Company Migrates from Hyperion to Oracle EPM Cloud
The client was running Hyperion on-premises which was desupported by Oracle and was falling short in presenting both detailed and consolidated views of the business. The financial close process was slow and cumbersome, and they were finding it difficult to configure coherent reports in Hyperion that work across the entire organization. They decided to migrate to Oracle FCCS to simplify and automate their financial close processes.
ITC implemented Oracle FCCS with extended dimensionality and migrated 10 years of historical data to the cloud. All existing on-premise HFM functionalities were mapped to the cloud including custom calculations. ITC faced some challenges due to the limitations of FCCS for YTD Data Storage and YTD Calculations. but they were resolved and knowledge transfer was done to the Accounting and Finance teams. Historical JEs were also migrated with additional tracking for easy auditing.
- The project was completed on-time within 18 weeks
- 10 years of historical data migrated to the cloud with simplified templates for
- New process owned by Accounting/Finance teams with clear roles and
- Reduced manual effort with Smart View Templates for the financial close
- Effective calculations for custom translations and consolidations
- Achieved consolidation execution time of 12-14 minutes