SOURCE: Oracle Corporation

Oracle Corporation

April 07, 2010 11:37 ET

Oracle Extends Leadership With Major Release of Oracle® Enterprise Performance Management System

Helps Organizations Plan for Growth, Improve Stakeholder Communications, and Deliver Business Value Faster Through New and Enhanced EPM Applications

REDWOOD SHORES, CA--(Marketwire - April 7, 2010) -  Oracle (NASDAQ: ORCL)

News Facts

Plan for Growth and Profitability

  • Oracle EPM System Release 11.1.2 represents a milestone in the product lifecycle of Oracle's flagship Hyperion Planning application, further strengthening its lead over competitive offerings.
  • This release delivers significant capabilities for end users and application administrators that enable organizations to streamline their planning and forecasting processes by offering:
    • Intelligent approval workflows that are data-driven, user-configured and scenario-specific, to address the needs of today's dynamic and matrix organization structures;
    • Zero-code Web forms that deliver substantial improvements in flexibility and business user productivity; and,
    • Virtually seamless delivery of all the planning, workflow and task management capabilities to business users through familiar Microsoft Excel and Outlook interfaces, enabling broad deployment of planning applications across the enterprise. 
  • For public sector organizations seeking better control over their budgeting processes, the new Oracle Hyperion Public Sector Planning and Budgeting module delivers a purpose-built solution for budget management and planning. It is applicable to U.S. federal agencies, and central, state and local governments around the world, as well as higher education and healthcare organizations. (See today's related press release). 
  • This release also features important enhancements to Oracle Hyperion Profitability and Cost Management, a fast-growing EPM application that helps organizations gain insights into profitability at the customer and product levels. In addition to significant performance improvements, this release delivers new features including expanded cost and revenue driver functions designed to support complex allocations and profitability calculations. 

Deliver Timely, Accurate Financial Reporting

  • This latest release helps organizations significantly streamline the extended financial close process through new product functionality and integrations.
  • The new Oracle Hyperion Financial Close Management application centralizes task management and delivers a Web-based management dashboard for the end-to-end financial close process that typically spans ERP, BI and EPM systems as well as manual tasks, delivering improved visibility and predictability. (See today's related press release).
  • Another new application, Oracle Hyperion Disclosure Management, helps organizations ensure the completeness and accuracy of external and statutory financial reports, and their transformation into statutory filings using eXtensible Business Reporting Language (XBRL). (See related release).
  • In addition, Oracle recently shipped a new offering -- Oracle Essbase Analytics Link for Oracle Hyperion Financial Management -- that uses Oracle Essbase to deliver powerful reporting and analysis on consolidated financial data.
  • Oracle EPM System Release 11.1.2 also improves overall transparency and financial governance through integration with Oracle's governance, risk, and compliance applications.

Achieve Fast Time to Value, Reduce Total Cost of Ownership

  • With numerous enhancements targeting simplified system administration and integrated security, Oracle EPM System Release 11.1.2 enables organizations to reduce total cost of ownership and achieve rapid time to value.
  • Available in 15 languages, this new release aligns management and operational processes through integration with Oracle Applications, including the Oracle E-Business Suite and PeopleSoft Enterprise. This enables organizations relying on a combination of Oracle's EPM system and ERP applications to accelerate implementations as well as improve reporting, analysis and planning cycles.
  • Significant enhancements to Oracle Hyperion Data Relationship Management will further enable organizations to better manage the consistency, integrity and accuracy of financial and analytical data. 
    • Product updates include a new browser-based user-interface, role-based access and improved navigation. The new release also introduces support for Unicode encoding.
    • Oracle Hyperion Data Relationship Management also introduces native integration with Oracle Customer Hub Release 8.2. Data stewards using Oracle Customer Hub will now be able to author, manage and reconcile corporate hierarchies using the advanced hierarchy management functions in Oracle Hyperion Data Relationship Management.

Suites to Address End-to-End Needs in Key EPM Domains

  • With this release, Oracle's EPM applications are now available individually and packaged as suites that address the full spectrum of customer needs in two key domains: 1) Enterprise Planning and 2) Financial Close and Reporting.
  • The suites will allow customers to take advantage of pre-built integration across the products and simplify the licensing process, with complete flexibility in deploying specific applications in line with business priorities.
  • Oracle's Enterprise Planning Suite includes application modules to support strategic, financial and operational planning as well as profitability and cost management.
  • Oracle's Financial Close Suite includes application modules to address financial data quality, financial consolidation, financial and management reporting, and the two new applications for financial close and disclosure management.

Supporting Quotes

  • "Oracle EPM System Release 11.1.2 represents a major leap forward in expanding our category-leading EPM applications with the introduction of new applications and continued integration with Oracle Applications and Oracle Fusion Middleware," said Robert Gersten, senior vice president, Oracle Development. "The new applications, enhancements and key integrations introduced in this release will help organizations significantly improve their planning, financial close, and statutory and internal reporting processes whether using the Oracle EPM System with Oracle Applications or non-Oracle ERP solutions." 
  • "As a customer who's deployed a number of Oracle Hyperion applications we are excited about the new applications," said Russ Bostick, EVP of Technology and Operations, Conseco. "The new financial close management application will enable us to better coordinate our closing process across different departments, transactional systems and EPM applications. We also like the new financial disclosure management application which leverages Oracle's existing EPM applications and is designed to support a broad range of reporting and filing requirements. Overall, we are impressed with Oracle's approach and we look forward to evaluating the new products."
  • "Current regulatory environments and market conditions have made the financial close and reporting processes more complex than ever," said Matt Schwenderman, Principal, Deloitte Consulting LLP. "Mergers, globalization, and complex organization models have become the norm, while statutory and regulatory requirements demand greater accountability, transparency, and control. We look forward to helping our clients that select the Oracle Financial Close Management and Disclosure Management applications in their efforts to address these needs and streamline their close process and the 'last mile' of financial reporting."
  • "The newest release of Oracle's EPM products will provide a high degree of value to our customers while extending Oracle's leadership in the EPM market," said Jason Little, Partner at Analytic Vision. "This release will help customers streamline the financial close and filing process, reduce planning and budgeting cycles, and reduce costs of ownership - especially for customers with multiple applications deployed."

Supporting Resources

About Oracle
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