Challenge
Organization has changed ownership multiple times, and Acquisitions have been made, since the deployment of the original HFM solution in 2006- Organization has enhanced its business offering, resulting in limited functional reporting based on original ownership and original market
- Upgrade HFM application from version 4 into HFM 11.1.2.4
- Implement enhancements to minimize manual processes and streamline reporting
Solution
- Rebuilt application in 11.1.2.4 / converted to EPMA platform
- Verified all objects had migrated properly
- Reconciled data between applications
- Added new dimensionality (“Tracking” and “Rollforward”) for enhanced reporting and to allow manual Excel calculations to be performed within HFM. Examples include: AdjEBITDA, intercompany and investment equity eliminations, ProForma reporting, enhanced cash flow reporting, and more robust constant currency analysis
- Instituted periodic data loads and consolidations to account for ownership changes, acquisitions and enhanced legal entity reporting
- Implement Financial Data Quality Management Enterprise Edition (FDMEE) as the integration tool to map any source data into the target HFM, application including drill back to JDE GL
- Configured JD Edwards source adapter to pull data directly from the ledger
The solution has been running in production since 2016
Benefits
- Provided more robust reporting capabilities utilizing minimal manual processes by implementing Periodic data loads, adding custom dimensionality, and performing in-system calculations
- The redesigned business rules and data tracking capabilities allowed audit reports to be provided with less manual intervention
- Use of FDMEE allows acquisition-company results to be loaded seamlessly – and consistently – into the solution.
- Direct integration from JDE and “Drill-through” back into the JDE financial information for robust analytics