Financial Close Process Control

One of the great benefits of the Oracle Hyperion suite of products is the ability to give end-users control over and visibility to their own data. However, as the number of users loading and entering data into the system increases, it becomes increasingly critical to control the data submission process. Some of the process control solutions that Finit helps clients implement include:

• Defining data validation checks within HFM so that users can only submit and promote data once a pre-defined set of criteria has been met.

• Implementing phased process management within HFM, so that different data sets can be promoted at different times (e.g. trial balance data can be reconciled and promoted earlier in the close process than supplemental data.)
• Developing a set of questions within FDM that must be answered in order to complete the data submission process, and using those questions to automatically promote data within HFM.
• Building process monitor reports within FDM and HFM so that the system administrators can always see which steps the end-users have completed and which data validation checks have not yet been resolved.

Finit Solutions has helped many clients improve process management by incorporating these controls into the application and by training the users on process controls at the same time that they are trained on the new system. Tightly automated process management results in better compliance with internal controls requirements and overall simpler administration of the system during the monthly close.