It is daunting enough for global companies to consolidate their financial and operating results that involves complex inter-company eliminations and many currencies. Using spreadsheets to do that is just making it even more difficult and it is impossible to maintain and audit. Additionally some companies are saddled by custom made reporting systems and multiple transaction systems that they have pulled from for Actual. Oracle Hyperion Financial Management (HFM) – part of Oracle’s Hyperion Financial Close Suite – is a perfect tool to address these challenges and PREDICTif has helped many customers implement HFM solutions.
First of all, PREDICTif will leverage HFM as the cornerstone product to establish a single version of the truth, providing a single pane of glass for all financial and operational results, no matter where these results are originally stored. We will then utilize a purpose built intercompany transaction matching module – Intercompany Transaction Matching Module – to identify, reconcile and report on intercompany account differences at a transaction, or ‘invoice’ level, resulting in capturing, matching, and resolving intercompany differences across currencies. Business users can even enter comments and reason codes to help in the resolution process. This not only shortens consolidation and reporting cycles – by days or weeks – but also reduces compliance cost and control risk, improving organizations’ internal and external transparency – with complete audit trails, workflows, internal review, certifications, controls and validations. PREDICTif’s finance savvy consultants will also implement value-added HFM features including the flexible what-if scenario management module, the powerful production report writer and Smart View for Microsoft Office.
By implementing HFM solutions, PREDICTif will help dramatically transform a global company’s financial consolidation and reporting with sustainable compliance frameworks and reduced control risks, enabling the Office of Finance to move from the role of scorekeeper to one of business partner—delivering financial and non-financial analysis that supports strategic and operational management decisions.
PREDICTif HFM implementation teams consist of CPA’s and financial analysts, who possess extensive finance knowledge and experience to be able to speak the languages of controllers, accounting managers and financial analysts. They will bring a wealth of HFM product know-how and use it with PREDICTif’s project delivery methodology and intellectual property to deliver sound and robust HFM solutions that our customers will benefit and value from. Our consulting professionals are just a phone call away to offer their expertise to you and make your financial consolidation and reporting processes a lot less strenuous.