Hyperion Financial Management:

Every company needs a smarty financial solution to keep its accountability in track. In today’s  world book keeping is the most important aspect in running a business. The accountants do look for smart reporting for their financial statements.Today they need reliability ,dynamic viewpoints and projections to foresee where the company stands.They want to know more about their business and faster than others.

 Oracle leads the way in helping organizations gain more insight, across more data, and drive better outcomes in every aspect of business. Oracle Enterprise Performance Management Architect(EPMA)

EPMA includes a suite of Business Intelligence applications and a coomon foundation of BI tools and services.

Here I would take the owner of introducing you to the Hyperion Product family which compraises of various EPMA tools:

·         Oracle Hyperion planning

·         Oracle Hyperion Financial management

·         Oracle Hyperion Data Relationship management

·         Oracle Financial Close management

·         Oracle Hyperion Profitability and Cost management

·         Oracle Hyperion provider services                and many more

Here we will be understanding one such interesting tool that has explored a new world of Financial reporting.

HYPERION FINANCIAL MANAGEMENT (HFM)

Product Architecture

It has three tiers client, Application and Database. HFM is based on ROLAP technology.Its based on Oracle's ADF J2EE technology.

HFM can only be installed in windows environment.

HFM a brief insight:
Data in HFM is stored across a number of dimensions.
The tool supports 12 dimensions.
The SIX basic dimensions are :

1. Scenario
2. Account
3. Entity
4. Period
5. Year
6. View

The next five dimensions are

ICP and four custom dimensions
            and the twelfth dimension is consolidation details.

The four custom dimensions are also known as configurable dimensions and for these dimensions Admin can set the size. Any application must have minimum of two custom dimensions. The custom dimension stores source and destination currency rates and these are of large size by default.
The size of a dimension can be categorized as Large (4 bytes), Medium(2 Bytes) and Small(1 byte). The number of dimensions is defined on the basis of total number of bytes used to maintain index for the dimensions.

The system creates two large dimensions each having four bytes and the total for an application must not exceed 40 bytes.

How to create a HFM application

There are two types of HFM applications EPMA and classic.

HFM is well integrated with Essbase.HFM facilitates data movement from HFM to a BSO or ASO cubes using data synchronizer.

Steps to create a classic application:

We can create a fresh HFM application from Hyperion Financial Management Studio

11. Create a new application profile

Creating application profile is the very first step.

We should be very careful in defining a profile. We define the years, periods and available views in the application. The items defined once in application profile can never be changed. The profile needs to be created from a windows client.

     

 

      STEP 2: Select the preferred language

   STEP 3: Define Application Calender

STEP 4:We need to enter the below details for view dimension and hit next

STEP 5: Select the period list

STEP 6: Save the application profile in the below location:

C:\Hyperion\Products\FinancialManagement\Client

Now save the Application Profile.

To crate a new application using the newly created application profile log in to Hyperion Workspace and navigate to  Administer > Classic Application Administration > Consolidation Administration > Create Application

Register the new application

Application created