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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 - April 7, 2010
News Facts
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To help organizations further improve their strategic, financial and
operational management processes, Oracle today announced a new
release of its industry-leading Oracle® Enterprise Performance
Management (EPM) System Release 11.1.2.
This release introduces three new performance management applications
– Oracle Hyperion Disclosure Management, Oracle Hyperion Financial
Close Management, and Oracle Hyperion Public Sector Planning and
Budgeting – as well as major enhancements to existing Hyperion
performance management applications, and enhanced integrations with
Oracle Applications.
A component of Oracle Fusion Middleware, Oracle’s EPM System
combines category-leading EPM applications and business intelligence
(BI) products to support a broad range of business processes that enable
organizations to become smarter, more agile, and better aligned.
Plan for Growth and Profitability
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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:
o Intelligent approval workflows that are data-driven, user-configured
and scenario-specific, to address the needs of today’s dynamic and
matrix organization structures;
o Zero-code Web forms that deliver substantial improvements in
flexibility and business user productivity; and,
o 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).
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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
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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
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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.
o Product updates include a new browser-based user-interface, rolebased access and improved navigation. The new release also
introduces support for Unicode encoding.
o 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
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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
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“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.”
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“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
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Analyst Report on Oracle EPM
Follow OracleEPM&BI on Twitter
Download free, evaluation versions of Oracle EPM and BI software.
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About Oracle
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Contact Info
Eloy Ontiveros
Oracle
+1.650.607.6458
[email protected]
Kristin Reeves
Blanc & Otus for Oracle
+1.415.856.5145
[email protected]