Oracle FCCS: A Deep Dive
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The document provides an overview of Perficient's capabilities as a digital transformation consulting firm, detailing their enterprise performance management (EPM) practice and specialization in Oracle solutions. It outlines the features and functionalities of the Oracle Financial Consolidation and Close Cloud Service (FCCS), including data management, reporting, and integration capabilities. The document also discusses training, migration considerations, and the company's history, emphasizing their extensive experience and partnership with Oracle.
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Oracle FCCS: A Deep Dive
- 1. Oracle FCCS: A Deep Dive
- 2. Santhosh Nair GM, Enterprise Performance Management [email protected] Tony Coffman Director, Enterprise Performance Management [email protected]
- 3. 3 About Perficient Perficient is the leading digital transformation consulting firm serving Global 2000 and enterprise customers throughout North America. With unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions.
- 4. 4 Perficient Profile • Founded in 1997 • Public, NASDAQ: PRFT • 2016 revenue $487 million • Major market locations: Allentown, Atlanta, Ann Arbor, Boston, Charlotte, Chicago, Cincinnati, Columbus, Dallas, Denver, Detroit, Fairfax, Houston, Indianapolis, Lafayette, Milwaukee, Minneapolis, New York City, Northern California, Oxford (UK), Southern California, St. Louis, Toronto • Global delivery centers in China and India • ~3,000 colleagues • Dedicated solution practices • ~95% repeat business rate • Alliance partnerships with major technology vendors • Multiple vendor/industry technology and growth awards
- 5. 5 Oracle Practice Overview 3,000+ Deployments Industry Expertise Solution Expertise EPM | ERP | BI | CX Platinum 200+ Oracle Experts Partner Cloud Select Healthcare | Supply Chain/Mfg. | Energy/Oil & Gas Financial Services | Consumer Markets 15 Specializations
- 6. 6 Perficient’s EPM Practice Fast Facts • Practice Started: 2002 • Projects Completed: 1200+ • Management Team: 15+ years • Oracle Authorized Education Center • Hyperion Education • SupportNet Managed Services • Support Services Solutions Expertise • Cloud readiness assessments • EPM strategy and health check • Financial close & consolidations • Planning & forecasting • Reporting & analytics • Profitability & cost management • Account reconciliations • Data relationship management • Infrastructure & high availability Oracle Specializations
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- 8. Oracle FCCS: A Deep Dive
- 9. 9 Agenda Financial Consolidation and Close Cloud Service • Background • Close Management • Dimensions & Metadata Management • Data Management • Consolidation Logic • Translations • Roll forwards • Historical Overrides • Intercompany • Reporting • Audit • Security Looking Ahead Migration Considerations Q&A
- 10. 10
- 11. 11 Financial Close Suite Account Reconciliation Manager Hyperion Financial Management Financial Consolidation and Close Cloud Account Reconciliation Cloud Close Manager Financial Data Quality Management EE Supplemental Data Manager Financial Consolidation and Close Cloud Service
- 12. 12 Home Screen
- 17. 17 FCCS • FCCS includes Close Manager: task assignments, due dates, notifications, and compliance dashboards. It does NOT include Account Reconciliation Manager. • FCCS allows administrators to Lock and Publish data. Process control not GA. • Group or Entity consolidations can be delegated to controllers via security groups. Close Management HFM • HFM close procedures can be grouped into Task Lists by functional role. Can’t monitor the completion of steps in a Task List. • HFM has basic workflow with the Process Control feature. If enabled, entities must pass controls – Not Started, Submitted, Under Review, Approved. • If Process Control is not enabled, you can still Lock and Publish data when the close is complete. • Group or Entity consolidations can be delegated to controllers using security classes.
- 19. 19 FCCS Standard Dimensions – Scenario – Year – Period – Entity – Account – Intercompany – Consolidation – View Custom Dimensions (max 2) – Multi-GAAP – Custom1 – Custom2 Dimensions HFM Standard Dimensions – Scenario – Year – Period – Entity – Account – ICP – Value (includes currencies) – View Custom Dimensions – Custom1 (also Source Currency) – Custom2 (also Target Currency) – Custom3 – Custom4 – CustomN… – Data Source – Movement – Currency
- 20. 20 FCCS Consolidation FCCS_Contribution FCCS_Elimination FCCS_Proportion FCCS_Entity Total FCCS_Entity Input FCCS_Entity Consolidation Currency No Currency Input Currencies Reporting Currencies Entity Currency (stored) Parent Currency (stored) Consolidation HFM Value [Contribution] [Elimination] [Proportion] <Parent Currency> (pointer) <Entity Curr Total> <Entity Curr Adjs> <Entity Currency> (pointer) USD GBP CAD ...
- 21. 21 FCCS Data Source (System) FCCS_Data Input FCCS_Journal Input FCCS_Supplemental Data FCCS_Intercompany Eliminations …. Movement (System) FCCS_ClosingBalance FCCS_TotalOpeningBalance FCCS_Mvmts_Total FCCS_CashFlow FCCS_CashChange Customs HFM Origin/SourceType, etc. (Custom) GL Journal DataForm Eliminations …. Movement/Flow/RF, etc. (Custom) ENDBAL OPEBAL ACT CTA ….
- 22. 22 Accounts Balance Sheet Time Balance Flow – All Balance Sheet accounts use the Flow Account type, since they all have a Movement member associated with them to show the change for the period Data Storage – Parent Dynamic – Level 0 Never share
- 23. 23 FCCS • Import files • Dimension editor • Smart View 1. Connect 2. Add/Modify and Submit Data 3. Refresh Database HFM • Classic HFM Client (.xml/.app) • EPMA Dimension Library (.ads) • Data Relationship Management Metadata Management
- 25. Data Management
- 27. 27 FCCS • Does not support custom VBScript/Jython scripting • Data Management does not support DIRECT integration with on-premise ERPs; file-based only • Data Management can DRILL BACK to on-premises ERPs if they support URL queries • Supports lights out processing with EPM Automate utility HFM • Basic import/export data files in HFM-ready format. • Financial Data Quality Management Enterprise Edition (FDMEE) for sophisticated mapping, automation • FDMEE enables direct integration with Oracle ERPs (E-Business Suite, JD Edwards, PeopleSoft). Typical drill-back level is GL transaction. An open database is available for integrating non-Oracle ERPs • FDMEE supports scripting for advanced file or workflow requirements Data Management
- 29. 29 FCCS • FCCS includes Supplemental Data Manager with the subscription • Link Supplemental Data forms to intersections in FCCS, i.e. Inventory • Design forms to extend and gather additional detail about the account • Assign Preparers, Reviewers, Integrators • Integrators post the Supplemental Data to FCCS • From FCCS forms, drill through to Supplemental Data form for supporting detail • Report on the status of supplemental data collection by entity, data set, form template, etc. HFM • HFM has no out-of-box data review or input forms • Used to review summary level data or collect supplemental data (such as exchange rates, operational measures, sub-account detail) which are used for automated cash flows, BS roll forwards, linked detail PPE form > Asset Purchases form, etc. • Included as steps in a Task List, but they are not trackable in a “Workflow” Supplemental Data
- 30. 30 Journals
- 31. 31 FCCS • FCCS includes the Journal module with workflow – Submit, Approve, Post, Unpost • FCCS does not support recurring, reversing, or automatic journal types. This is on the roadmap. • FCCS includes journal reporting, with ability to filter by journal group, date, and so on • Can report on Journal history HFM • HFM has a full journal module with workflow – Submit, Approve, Post, Unpost • HFM journal types are balanced/un- balanced, single/multi-entity, recurring, auto-reversing, etc. You can create journal templates for common entries. • HFM has journal reporting, with ability to filter by journal group, date, and so on. Journals
- 33. 33 Net Income To RE Roll Forwards Translations IC Eliminations Equity OverridesFX Impact Consolidation Logic
- 34. 34 Net Income to Retained Earnings
- 35. 35 Translations • Must create all rate accounts • EOMRate Balance Sheet • AverageRate Income Statement • Ability to create spot, historical, weighted average rates • Custom translations • Sub Calculate • Sub Translate • Default rate accounts • Three forms for Exchange Rate entry • Single period • Multi-period • Computed rates • Opening Balance • Closing Balance prior period • FX Impact • FX_Opening • FX_Movement • Mvmts_FX_to_CTA HFM FCCS
- 36. 36 FCCS • Out of the box • Periodic, QTD, and YTD views are available • Works for both functional and translated values HFM • Not out of the box • Rules need to be created • Custom dimension is used to support it Roll Forwards
- 37. 37 Roll Forwards
- 38. 38 FCCS • Out of the box • Available for all reporting currencies • Data form available for data entry for rate/amount override • Alternatively you can create your own SV or data form HFM • Not out of the box • Custom dimension is used to support it • Rules need to be created • Depending on the implementation method the amounts may need to be entered each month Historical Overrides
- 39. 39 Currency Dimension Consolidation Dimension Historical Overrides
- 40. 40 FCCS • Out of the box for first common parent • Additional elimination options are in the road map • Will mainly be managed through the user interface HFM • Out of the box for first common parent • Additional rules need to be created for non standard eliminations • Sub Consolidate Intercompany
- 41. 41 Intercompany accounts: • Intercompany Account – IC_Acc_Yes • Plug Account – NOTERECPAYELIM • Is Plug Account – Plug_Acc_Yes Intercompany
- 42. 42 Is ICP = Y Plug Account = NOTERECPAYELIM 17210 = IC Note Receivable 24210 = IC Note Payable Intercompany Account = IC_Acc_Yes Plug Account = NOTERECPAYELIM 17210 = IC Note Receivable 24210 = IC Note Payable FCCS HFM Intercompany Eliminations
- 44. 44 FCCS • Predefined report format with Entity and Partner transaction side-by-side. Easier to read. • Supports matching tolerance – amount and % specification • Supports multiple Intercompany Plug (“Balancing”) accounts. Report is generated based on Plug Account selection. • Does not have a Transaction Matching module. (See Account Reconciliation Cloud Service) • Flexible output format – HTML, PDF, XLS HFM • Predefined report with Entity and Partner transaction row-by-row. Difficult to read. • Supports matching tolerance – amount and % specification • Supports multiple Intercompany Plug (“Balancing”) accounts. Report is generated based on Plug Account selection. • ICP Transaction Matching module to load/match sub-ledger trans. (Rarely used.) • Flexible output format – HTML, PDF, XLS Intercompany
- 45. 45 FCCS • Uses Essbase consolidation operators (+ - * /) to control account consolidation • Consolidation logic is pre-configured • Does not support proportional consolidations or automated equity pickup and eliminations. This is on the roadmap. • Includes pre-built metrics and KPIs out of the box • Includes calculation “proof” forms for Consolidation Path, Opening Balances, Retained Earnings, and Overrides • Offers limited custom calculations. This is expected to expand in Summer 2017. HFM • HFM uses Account Types (Asset, Liability, Revenue, Expense) to control account consolidation • HFM has default consolidation logic, but 100% of applications have additional VB code for common requirements, such as Net Income to Retained Earnings roll • HFM supports proportional consolidations, automated equity pickup, and equity eliminations (with VB code) • HFM has no pre-built metrics or KPIs, but these can be added Consolidation Logic
- 46. 46 Auditing
- 48. 48 FCCS • Smart View for MS Office integration • FCCS includes pre-built summary financial statements (IS, BS, CF). Additional reports can be defined using the Financial Reporting Web Studio. • FR reports can be grouped into “books” for distribution • Pre-built dashboards for Financials, Close Overview, Close Compliance. Additional dashboards can be made • FCCS reports are interactive and viewable via web browser or mobile device • Static reports can be distributed in PDF/Excel format HFM • Smart View for MS Office integration • Does not include any pre-built financial statements. These must be created to specifications. • FR reports can be grouped into “books” for distribution • Reports are interactive and viewable via web browser. Static reports can be distributed in PDF/Excel format. • No pre-built dashboards Reporting
- 49. 49 Reporting
- 50. 50 Reporting
- 51. 51 FCCS • FCCS requires no investments in hardware infrastructure. Two desktop clients: • EPM Automate • Smart View add-in • FCCS patches are applied by Oracle on the 1st Friday (DEV) and 3rd Friday (PROD) each month • FCCS includes automated snapshots to the cloud. These must be moved to permanent storage for disaster recovery • FCCS security can be integrated with Active Directory HFM • HFM requires significant investments in hardware infrastructure and maintenance • Up to three clients: • HFM Client • Smart View add-in • Financial Reporting Studio • HFM patches are applied by the customer • Application backups using Lifecycle Manager • Operating System/Database backups must be managed by the customer • HFM security can be integrated with Active Directory Infrastructure
- 52. 52 Security
- 53. Looking Ahead
- 54. 54 The following is intended to outline Oracle’s general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle. Oracle Safe Harbor Statement
- 55. 55 Recent Highlights R&D Underway Looking Forward • Alternate hierarchy support (full accounting treatment) • Ability to use Close Manager and Supplemental Data Manager Standalone • Tight integration with Financials Cloud including drill back • Configurable translations • Config calculations and consolidations • Extend custom dimensions • Adv. Consolidations (similar to Manage Ownership in HFM) • Manage ownership • Proportional consolidations • Equity eliminations • Org by period • Ownership register • Integrated EPM Business Processes • Process Control • Close Manager • Monitoring tasks • Cloud integrations • Supplemental Data Manager • Integrations to on premises • Journal Entry Module • Integration with any ERP • Recurring and auto-reversing • Single click create • Adv. Consolidation • Automatic journaling • Data lineage • Automatic consolidations • Event based alerts • Integrated XBRL from EPRCS • HFM Migration Toolkit Oracle EPM Cloud: FCCS
- 56. 56 1. Calculation Manager will be opened up to allow users to create business rules that can be executed at predefined points within the default consolidation process. 2. The library of predefined rules will be expanded to support common operations like Copy, Clear etc. 3. POV specific translation mechanism will be supported. Custom Calculations
- 58. 58 Migration Considerations Proof of Concept Reqs/Design Build/Data Testing Parallel Configure FCCS instance Create Entities and Accounts Map historical data Repeat with new settings, as needed Solution design Task-level project plan Finalize integration settings and file specifications Convert all history Build new interfaces Develop reports/forms Create supplemental data forms Create Close Manager schedules, task, assignments Deliver training event(s) Perform all data validation Perform system integration testing/ user acceptance Track and resolve issues Test scripts Migrate FCCS app to Production instance Parallel month, quarter Cutover Administration guide Issue log Reqs inventory Map/gap business process to FCCS Create design document and review with business and IT Finalize work plan Phase Tasks Artifacts Readiness assessment
- 59. 59 Opening Balances: • Dec FY11 FCCS_Retained Earnings Prior Year Data Loads
- 60. 60 Opening Balances: • Jan FY12 FCCS_OpeningBalanceAdjustment Data Loads
- 61. 61 Historical Data: • Smart View – Capture activity between periods in HFM at <Entity Curr Total> for each base entity Data Loads
- 62. 62 Current-year Data: • Data Management 1. File-based loads with periodic activity 2. Create load locations 3. Create import formats 4. Create data load mappings - Account/Movement Type Source Value Target Value Like ??.10195 FCCS_Mvmts_Cash Like ??.11010 FCCS_Mvmts_AccountsReceivable Like ??.11110 FCCS_Mvmts_OtherCurrentAssets Like ??.11200 Mvmts_Intercompany Data Loads
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- 64. 64 Next up: [Webinar] Improve Your Business Processes with Oracle Order Management Cloud Wednesday, August 16th [Event] Oracle OpenWorld October 2-5, 2017 Follow Us Online • Perficient.com/SocialMedia • Facebook.com/Perficient • Twitter.com/PRFT_Oracle • Blogs.perficient.com/Oracle
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