picture11Challenge

  • Upgrade HFM to a consistent platform shared by other company-wide EPM applications (Planning)
  • Remove elements of the HFM application no longer relevant to the business
  • Incorporate new feature/functionality to facilitate more robust reporting
  • Streamline data entry processes

Solution

  • Remove unused elements of the Entity and Custom dimensions
  • Change the calendar in the new application, removing 6 years of history and allowing for 6 years of future data
  • Utilize a new Custom dimension to capture Legal Entity data for one business unit and Regional reporting data for another business unit
  • Change the Actual scenario to “Periodic” view
  • Implement direct integrations leveraging FDMEE
  • picture12Create a Forecasted Cash Flow process

The solution has been running in production since 2003

Benefits

  • All EPM applications on a consistent version (11.1.2.3), minimizes IT maintenance costs
  • Removing unused application elements, and purging history, enhances system performance
  • Legal entity data provides the Tax department with greater visibility into the information, streamlining validation/reconciliation processes
  • Access to Regional reporting information within the application eliminates the need to maintain secondary spreadsheets
  • Reduced manual data entry of Roll forward data and journal entry information, simplifying processes for the end user community
  • The Forecasted Cash Flow process aligns with the Actual Cash Flow, providing consistency and eliminating the need to prepare Excel-based cash flow reports for the Forecast scenarios

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