we are using Oracle Oracle Hyperion Enterprise Performance Management for financial Close and Planning. We have merged with 6 other companies and needed a consolidated ledger. Financial Close offers that and our planning process is made easier across the divisions with Planning
Pros
Consolidation of multiple GLs in the Close process
Budgeting in multiple ways(zero based, driver based, strategic long term planning)
providing detailed task lists to help new planners be successful without a lot of training
ability to plan in web based forms or within the same form in excel
Cons
users most likely can not create a system themselves, it requires knowledgeable consultants to help get the most out of the system
Some users get frustrated because unlike excel based planning, there is structure and controls built in.
Likelihood to Recommend
Because it is a full suite of business processes, you can do most types of planning and financial close. It has processes for Financial, cash flow, Workforce, CapEx, project and strategic planning. It does not have anything for production planning
The Hyperion Enterprise Performance Management software is being used by the Finance Department. It particularly serves the company in financial reporting and data analysis for our finance directors and CFO. The Business Problems it addresses are gathering and summarizing information for multiple locations (domestic and foreign offices) to be used at headquarters.
Pros
It was easy to consolidate financial data from multiple domestic and foreign offices.
Training other colleagues in other offices for using the software was easy.
We could easily send the consolidated financial data to our C-suite executives and it looked really readable for them to understand the data.
Cons
If there are ways to transfer data into the Hyperion software from other software applications (MS Excel) that would be ideal.
It would be wonderful if data from Hyperion could be downloaded directly into an attachment which can be emailed to other financial colleagues.
It would be great to be able to toggle between various currencies to make it easier for financial staff to understand the impact that some management decisions would make.
Likelihood to Recommend
Well suited: For use in multiple offices around the world. I was able to obtain financial reporting data from 5 foreign offices and then consolidate their data with 3 domestic USA offices to prepare a consolidated financial statement.
Less Appropriate: Translating the financial value for consulting services could be a bit challenging because that required human interaction and judgement. It would have been great to be able to set up some software to be able to interpret this and let it run for all future project work revenue projection.
Verified User
Employee in Finance and Accounting (501-1000 employees)
Oracle Hyperion is used in our accounting and finance department to check and audit financial data. Hyperion makes it easy to compare financial data from different regions and departments for each and every month and year. Hyperion can also be exported for financial analysis in Excel. The data gathered from Hyperion is accurate and decreases the use of many different spreadsheets.
Pros
Oracle Hyperion is great for making monthly or yearly financial planning
It's great for analyzing different types of financial data
Ad-hoc reports can be created easily
Cons
Hyperion is difficult to update and maintain
Training for how to use Hyperion is difficult
It is not a mobile application that can be used anytime anywhere
Configuring for an user can be difficult
Likelihood to Recommend
Hyperion is great in what it does. It allows user to view different financial data in one single location. The data from Hyperion can be used to create reports easily. It is also useful for making changes to financial plans. However, Hyperion is hard to maintain and configure. It's hard to maintain Hyperion without proper training and configuring Hyperion for users is not easy. Hyperion is also not very mobile. It's not possible to use it anywhere with proper configuration.
Verified User
Technician in Information Technology (201-500 employees)
I have been using the BI tools within Hyperion since it was still Brio. Very powerful, yet easy to use GUI tools to help develop reporting, dashboards and more. Used for data management, integration feeds, and ad-hoc queries also. Quite simply, an easy way to access and manipulate your data. We use it in almost every aspect of our business for analysis and operational tools.
Pros
Very easy to use interactive GUI system, but also has powerful underlying ability to code as complex as necessary.
Easy mass distribution/access for multiple end users.
Cons
Expense is the number one concern.
Likelihood to Recommend
Well suited for mid-large scale operations that can afford it. As a small to mid-sized company, we love the software but struggle with the expense. It would be great to see the possibility of a scaled down version for a reduced cost someday. Any business that needs to manage and access their data could benefit.
We currently use Hyperion Financial Management for consolidating financial information for multiple companies from several countries at the end of each month, to obtain consolidating balances. We also use Hyperion Planning, which also consolidates the information at the end of each month, but with this module we can compare budget vs real data scenarios with cost accounting filters.
Pros
The web access for the application is really good. you can access trough any web browser to your scenarios.
The native integration with smart view for MS Excel is excellent. A really nice tool for reporting.
the approval procedures and the user security functionality is pretty nice.
Cons
Sometimes the error handling is not the best it could be. Some more error detail could come handy sometimes.
Although it has a very user friendly interface, the technical aspects (such as configuration and management) can improve a bit.
The product is a little bit expensive.
Likelihood to Recommend
The Hyperion Financial Management is really good for automatically
eliminating the inter-company movements. This could be done for all
companies, no matter what's the participation percentage of each one
within the group. With Hyperion Planning we've been able to control our
budget vs real data even with cost accounting support as user defined
dimensions in the system.
Hyperion EPM suite is used by our Corporate Finance and FP&A teams. Hyperion helps us publish our results on time and to plan our Budgeting/Forecasting cycle throughout the year. Various departments like Finance, Operations, Sales, Marketing use Hyperion to evaluate data inputs and reporting.
Pros
Consolidation engine is superb
User experience is great, web based
Easy to learn and grasp new application
Cons
None that I can think of
Likelihood to Recommend
Great product and is owned by Oracle, an industry giant.
