Oracle HFM Reviews

I have been working with Oracle HFM for five years. It is primarily used for reporting.

Oracle HFM is excellent for consolidation and reconciliation. It helps me see the general overview of the business across several locations.

The drill-through reporting enhances accuracy in financial analysis. Oracle HFM has a schedule that requires reporting, especially one that ties back to my general ledger. I have to report each line item that comprises that number. It helps me fact-check reported numbers with a schedule. For example, with payables, Oracle HFM allows me to have a list of numbers reported per supplier. This provides comfort that the numbers are not fictitious. Additionally, it has a feature that performs fact-checking from P&L to balance sheet. For instance, if depreciation is reported, it must align with what is in the profit or loss account. These features ensure integrity in the reported numbers and allow for quick error detection while serving as a reconciliation tool.

The currency conversion feature provides a global view from entity currency to local currency perspective, enabling value checks in different currencies for the company as a whole. In Nigeria, I report in Naira, and I don't need to report in my parent currency. The entity can report in their currency into Oracle HFM, and the parent company converts to their currency. By inputting budget rates, I can convert to any reporting currency, particularly the parent company currency. This feature saves time, increases speed, and allows the parent company to value its subsidiaries quickly.

Regarding data integration capabilities for ensuring data consistency and accuracy, it deserves a high rating. For example, with inventory, if there is an impairment, the reported amount in P&L should match the balance sheet's inventory impairment. This level of checking provides confidence in the accuracy of reported figures.

In my first experience with Oracle HFM, navigating to input numbers was cumbersome. For instance, when reporting revenue, I have to navigate to the revenue section. There should be a link where clicking on 'revenue' takes me directly to the reporting section, similar to a summary or search tree with shortcuts.

Currently, I don't see any missing features that should be included in future releases. As it functions primarily as a reporting tool rather than an accounting tool, it meets my usage requirements adequately.

I have been using Oracle HFM for approximately 11 years.

There are measurable benefits from using Oracle HFM as it reduces manpower and eliminates work duplication. Being in a different country than my parent company, once I report, it becomes straightforward for others to analyze and consolidate the company as a whole, reducing time and labor costs.

For organizations considering Oracle HFM, I recommend it for its ability to view the entire company at once through consolidation, its simplicity of use, and detailed reporting capabilities.

I rate Oracle HFM 8 out of 10.

The usual use cases for Oracle HFM that I support are for financial institutions, crewing for ships, and an Australian airlines company. They use the application mainly for management reporting purposes, reporting for taxation, and specialized business operations.

In my current role, a hierarchy is being maintained for the types of class in an airline, such as business class and economy class, to name a few.

The features of Oracle HFM that I have found most valuable are the highly customized applications that I've handled for the needs of my clients. Even though Oracle HFM rule is phased out, I still handle the version that includes HFM rules, which is similar to Visual Basic language. It is really helpful in improving the serviceability and efficiency of the system according to the needs of the client. The journal adjustments that can be done within the application are also very helpful for last-minute reporting adjustments that cannot be performed from the source applications. These two qualities stand out in using Oracle HFM.

For organizations I handle that have a global presence, the currency conversion feature of Oracle HFM is very flexible and comes in handy in meeting all currency translation requirements of their organization. It provides good insight into which parts of the business perform up to par with the expectations of the whole organization. In the HFM rules, there are other features or improvements we can add to how these currency translations perform during consolidation. It's easy to use and understandable for a normal business user of Oracle HFM when they pull up their report.

Oracle HFM's drill-through reporting has enhanced my customers' financial analysis significantly. In my past employment, users could drill down to the base level in each of the dimensions, such as account dimension and entity dimension in HFM. If set up correctly and if FDMEE is used, it can even drill down further using Smart View within the Oracle HFM connection to access the very granular level of general ledger cost centers. The reporting of each business segment is made faster, and they understand their numbers better in a more efficient manner, making the whole process more effective for their targets and deadlines.

Oracle HFM's data integration capabilities have many ways to ensure data consistency and accuracy. Options include FDMEE, offline files, or creating a Visual Basic or a VBA-based program in an Excel template to upload journals directly into Oracle HFM. Additionally, flat files can be uploaded, and Oracle Data Integrator can also be used for a more organized setup of the business process in loading data into Oracle HFM.

For analytical insights in Oracle HFM, they include financial reports or data forms that can be very intuitive. A user, given enough access, can create their own templates, forms, and grids for whatever purpose they may be used. This can include creating formal financial reports that are sent out on a scheduled basis, such as system reconciliation reports sent to the whole finance community every morning after a general ledger data load occurs from a source application into Oracle HFM. Delivery will be instant as scheduled, and the audience will be notified immediately of any variances after a consolidation event in Oracle HFM.

Oracle HFM could be improved or enhanced in handling metadata or the dimensionality. I currently handle updates in the dimension hierarchies and properties manually. There is a way for it to be centrally managed through Data Relationship Manager, another application, but I find that option cumbersome to perform. The handling of dimensionalities and properties of Oracle HFM dimension could use enhancement.

I have not personally experienced any shutdowns or abrupt stops in Oracle HFM because of the application itself. However, issues can arise from the company's network. As an application, it is dependable and does what it is expected to do, as long as the network and infrastructure supporting the application are stable.

Regarding the scalability of Oracle HFM, I find it ideal for multinational corporations with a presence in various parts of the world, allowing them to take advantage of the multicurrency reporting feature. In terms of scalability, due to the features Oracle HFM offers, it readily accommodates any organizational expansion. For example, on average, I add somewhere around 5 to 10 entities on a monthly basis to my client's entity dimension, and the system shows no lag in performance regarding data retrieval, running consolidations, or accessing different features. It is scalable, but it is best suited for large organizations; those with just a singular currency can use it but won't fully benefit from all features intended for Oracle HFM.

I do not often communicate with Oracle's technical support for this solution. My interaction with Oracle support has been minimal; it only occurred once in my previous organization, and it boiled down to user error in handling HFM rules.

Negative

I do not usually participate in the initial setup of Oracle HFM. I come into the picture at the last phase when Oracle HFM has been rolled out, ready for production and business use, and they need someone to become the system admin, which is my role. I haven't been part of implementing Oracle HFM projects from a legacy application into HFM.

I am not familiar with Oracle HFM's advanced rules engine if it is similar to the HFM rules that I encounter and have experience with. Technology now is geared towards cloud solutions, not on-premises, so organizations would prefer the latest version of Oracle EPM, which is cloud, and not HFM anymore, but FCCS. Based on my overall experience with Oracle HFM, I would rate it 7 out of 10. It is reliable, does the job as expected, and this rating also reflects that it's an old system. I am sure there have been improvements after Oracle HFM and in the newer FCCS version on the cloud, but it remains a reliable tool being used by well-known organizations with a global presence.

We are an implementation and Oracle EPM partner. We implement, support, and do all that goes with it.

The solution covers everything from multiple hierarchies, tax reporting, and basically any accounting standard consolidation that anybody needs can be produced.

Improvements can be made by possibly different interfaces to modernize it, more automation in scripting, and better integration with third-party solutions and reporting capabilities.

https://www.oracle.com/applications/applications-unlimited/

Since 2002.
Now release 11.2.24 is current, and the advisory from Oracle that the commitment to 10 years rolling support is extended through 2037.

Oracle HFM does exactly what everybody needs it to do. It had so much investment in it that it does anything and everything that anybody needs from a consolidation and regulatory reporting perspective.

For companies of sizes like FTSE one hundred or Nasdaq, scalability and infrastructure stability are key.

Oracle's technical support is fine, depending on who you get. It is probably better than most of the others, but they have reduced the number of support engineers and now rely on artificial intelligence, which affects the response quality.

Before HFM, we worked with Hyperion Enterprise and before that, with Micro Control.

Our implementation process depends on the customer's requirements. The technology is mature, structured, and works well, making it as complicated or as simple as the customer wants it to be.

It depends on the discount offered by Oracle. It is an expensive product but delivers what it promises, ensuring regulatory compliance, reducing risks associated with spreadsheets, and providing a better return on investment based on usage.

I would still recommend Oracle HFM to others. Over 75% of the FTSE 100 are using Hyperion for their reporting, budgeting, and forecasting. That speaks volumes. Any organization in the FTSE 100 or Nasdaq, having done their due diligence and selected it, signifies its value.

I'd rate the solution nine out of ten.

The most valuable feature is the flexibility and ease of configuration in terms of testing and formula creation. It requires fewer resources for implementation compared to SAP and has acceptable talent management features.

In terms of improvement, one challenge with Oracle HFM is the need for technical knowledge in writing SQL syntax for custom extensions. Also, the transition from on-premises to the cloud can be complex. Also, the transition from on-premises to the cloud can be complex. In the next Oracle HFM release, I hope for a more user-friendly cloud-based group portal, better integration with other solutions, especially for hybrid models, and solutions for integration issues, similar to those seen with Oracle Payroll and HPE.

I have been using Oracle HFM since 2015.

It is a stable solution.

Oracle HFM is somewhat scalable, but when compared to SuccessFactors, SuccessFactors tends to offer better scalability. In the implementation department, for the end-to-end deployment and maintenance of Oracle HFM, typically, only two resources are needed. One resource is responsible for current management, and the other handles development.

While Oracle provides good support, there have been instances of limited information sharing with customers, which can be frustrating. I would rate the support as a nine out of ten.

Positive

The initial setup of Oracle HFM is generally straightforward and not overly complex. The deployment time for Oracle HFM varies with the resources, but it usually takes around three to eight months, with an average of three to four months. The deployment process for Oracle HFM involves several key steps. It begins with the installation of Oracle software, followed by gathering requirements and relevant documents. These documents help define the report formats and service needs. Next, the team configures the system, starting with the enterprise structure, which needs to align with the ERP system. Data loading and configuration follow, with Oracle HFM typically requiring more resources compared to other systems like SuccessFactors.

It is a fairly expensive solution.

Before choosing Oracle, we looked at options like SAP. Both had strong management features from 2012 to 2014. However, Oracle's move into Oracle Teams and the cloud in 2015 brought major improvements, leading us to switch. While transitioning to the cloud initially posed challenges, Oracle's ongoing enhancements and flexibility, especially with extensions that don't require extra licenses, made it a great choice. Both Oracle and SAP provided similar ways to extend solutions, creating a unified approach for cloud solutions.

Oracle HFM presents a viable solution, but it is essential to consider specific requirements and potential challenges when choosing between Oracle and other platforms like SAP SuccessFactors. Overall, I would rate Oracle HFM as an eight out of ten.

We use the solution in our organization for financial data.

I can't discuss the strong points of the solution right now because I'm not really familiar with the product. But maybe in a month, I can tell you. However, I can say that it's user-friendly, and the dashboard is good, so it's easy to use.

I searched for the instructions to know how it works. Integration is an area where it lacks and can be improved.

I have been using Oracle HFM for almost one month. Also, I am using the cloud-based version of the solution.

Stability-wise, I rate the solution a ten out of ten. The solution is always available and accessible.

Scalability-wise, I rate the solution a seven out of ten.

I haven't communicated with customer support.

The solution's installation was quite straightforward. The installation can be done in a couple of minutes. You can use Smart View to track data and for virtualization.

We have deployed the solution on a private cloud, Oracle.

I rate the overall product a seven out of ten.

The product is used as a financial consolidation tool. When the group-level financials need to consolidate, companies use this ERP software. They are uploading the values for all the entities within that group and preparing a consolidated financial statement for across the group.

It is a very user-friendly software. Anybody can use it if we provide the basic knowledge to the end users. It helps the organization consolidate data from across the globe or wherever their entities are. With this product, they can gather data into one ERP system and prepare group-level financials, which is useful for management. With it, they can review the balance sheet and the financial statement for the organization and make decisions accordingly for future planning.

There is a process called data integration, like in Hyperion or HFM, where we load the data manually. For example, if a company is using software called JD Edwards or SAP, accounting-based software, they're doing the accounting in JD Edwards or SAP, and they're extracting the data from there, preparing an Excel-based file for the financial statement, and uploading it into HFM. This is the current process.

However, if there could be data integration between HFM and the accounting software, then whatever the entry is in the ERP software or the accounting software for SAP or JD Edwards, that data is automatically migrated to Hyperion. It would be better for the organization as that would provide real-time data updates. The moment I make an entry into the accounting software, it could be fetched into the HFM at the end of the month, and that way, we don't need to pull up all the work again and again. It would save us so much time.

I've been using the solution for the past three years. 

I find the product user-friendly and stable. Even for those with less knowledge of financials, it's not hard to operate. It's reliable. We find it very easy to share relevant information with management as needed. 

This solution can scale. We already use it across the globe and in different regions. We have nearly 10,000 people in the organization, and they all have access to this product. We've never faced connectivity challenges. 

I'm a third-party service provider. We don't have those direct supports, meaning, we can never ask HFM for direct support. We don't have an Oracle account. However, our client has the ability to reach out to them in the event that we didn't find a solution for the issue. 

This ERP is very, very common nowadays. Every other organization which is at a large scale is using it. Much of the data is readily available on Google so it is not hard to find answers to questions. There are blogs and videos. Getting help from non-Pracle sources is not hard. 

I wasn't really involved in the initial setup process. 

The cost is a factor if a company wants to use this solution. They need to make sure they have a budget in place. For a large-scale organization, it may come at a moderate cost. 

We are the point of contact for the end users, which means we support the end users and those who are loading the data into the HFM. If they face any glitches in the system, they raise an incident, and we resolve it for them. We're like a service partner. 

If a company wants to use the product, they need to ensure they have the funding needed. However, I would recommend it as an ERP option to others. 

I'd rate the solution eight out of ten. It's user-friendly and easy to understand. 

We primarily use this solution as a consolidation tool.

The solution is deployed on-prem. We are on version 11.1.2.4.

The most valuable features are around consolidations, eliminations, conversions.

The complexity is okay. I don't see it as super complex. The solution could have more functionality to make it a little bit more flexible. I think that's one problem with the version we're using. The tool almost feels a little disconnected from some of the other tools, so you have to piece together multiple tools into one solution. The finance team wants to have one tool for all of their solutions, so they are looking to move away from HFM into a more unified tool.

I have worked with Oracle HFM for about six years.

The stability is pretty good. I think we've been stable because we haven't been making a lot of changes. Making changes can potentially compromise the stability. HFM may not be able to handle some of the changes that the business is requesting because of the design that was implemented. There are some seemingly inherent kind of limitations.

We haven't had many issues with the stability, but that's kind of at the cost of some scalability.

I have used technical support a couple of times, but I don't remember any of those interactions very specifically. There are a lot of customizations that go into HFM, so a lot of the time the Oracle support is fairly standoffish because they just don't know about a lot of those customizations and aren't able to support very well. That was something we may have experienced to some extent, but I don't think we had a lot of issues with the product that required Oracle support.

I'm not super familiar with the initial setup. I think there are some complexities. There were some functionalities that our accounting team was looking to implement and utilize that HFM did not allow for natively out of the box. Some custom solutions had to be designed, which then leads to potentially either a poor design or the process changes, and therefore the design isn't flexible enough to handle those changes quickly and easily. Sometimes things just don't end up quite in their ideal state.

I would rate this solution 8 out of 10.

My advice would be to implement the cloud version, mainly from the perspective that it gets more frequent updates. One issue that we've had is if you aren't forced to do the updates, you probably aren't going to do the updates. Then you kind of just fall behind with the features and bug fixes. Beyond that, I think the design is very critical to ensure that it's scalable. You have to design it the right way.

Oracle HFM (Hyperion Financial Management) is really good with currency exchange. It has a built-in feature for currency exchange. It also has an elimination feature. These are the features I found most valuable in this solution.

There are areas that could be improved in Oracle HFM. One is for them to have a  dashboard or a feature that lets you know who's promoted and who's ready for reporting.

Another area for improvement would be the intercompany reports. We have to run them one at a time, and a lot of people would like to see them in a batch, so you don't have to sit there and run several different intercompany reports. It would be good to improve the intercompany reporting in Oracle HFM.

I find this solution stable.

Oracle HFM is the most scalable solution in the market.

We implemented Oracle HFM in-house.

Oracle HFM uses the named user licensing model. There's different pricing depending on HFM and Essbase planning.

Deployment and maintenance for Oracle HFM is done in-house in our organization, and we have an admin for each application, e.g. there are separate admins for HFM (Hyperion Financial Management), FDM (Financial Data Quality Management), Planning (Hyperion Planning), and FR (Financial Reporting). My knowledge is wide, but not deep, compared to the admins who have wider and deeper knowledge.

My rating for Oracle Hyperion Financial Management is a nine out of ten, especially because it's more stable. The issues we usually get are from the Planning and Financial Data Quality Management solutions of Oracle, not the HFM.

The HFM tools are very well designed. We used to have ODI, so there's a list of technologies that are available. You can bring in data from any source and from multiple sources, and you can consolidate that data in HFM. That is really cool.

Previously, you were only consolidating in any Oracle, like ERP. But now with mergers and acquisitions and all those other things, companies are using multiple softwares. The data has to be consolidated somewhere, and HFM is a good platform to consolidate data.

It's a difficult process to try to edit, configure, or change the business rules that exist and work within HFM. I think that's being improved with the coming versions. It's designed that way so that the consolidated data is not corrupted.

That aspect is the only one that is not user friendly.

It is stable.

The solution is scalable.

The initial setup is a little different than the planning. Planning is very straightforward with HFM because it caters to different technologies. You need to have some windows open to accommodate other technologies.

It's not like anyone can do it at home. It requires a specified knowledge of how this thing works with the business power piece and all that function gives you. That's how it's designed.

I would rate this solution 9 out of 10. 

HFM is a nine because it's a consolidation tool that is unique in itself and caters to other technologies. That's why it's one of the rare tools in terms of bringing data together and for management reporting.

If you look at the market, even if people complain that Hyperion doesn't work to their expectation or something, it is not a one-size-fits-all tool. You have to configure the tool to your needs. It's still very well designed.

The solution has integration challenges. We need a simple tool that is fool-proof for the data that is submitted not only for consolidation purposes but also for performance management and reporting purposes. 

I have been working with the tool for 15 years. 

The tool is stable. 

The solution is scalable. 

We can avail support through a partner network. 

The tool's licensing model is costly since it's based on the number of users.

I would rate the product a nine out of ten. We plan to use OneStream which is a modern platform as opposed to HFM which has a lot of legacy that makes it cumbersome. I wouldn't look to implement the solution but look for modern tools.