Finance teams currently using Oracle Hyperion EPM solutions are approaching a critical juncture in the system's lifecycle. With Oracle's strategic focus increasingly directed toward EPM Cloud and the eventual phase-out of Oracle Hyperion, it's becoming necessary to reassess the long-term viability of existing solutions.
While Oracle has highlighted the advantages of its integrated cloud offerings, some users may find that point solutions can contribute to a more segmented experience, potentially leading to additional operational complexities and costs.
This makes it all the more important to carefully evaluate the future of your financial management systems.
Challenges with Current Oracle Hyperion Solutions
- Multiple Points of Maintenance:
Managing a suite of Oracle Hyperion applications demands significant effort and resources, detracting from strategic financial analysis. - Time Spent Syncing and Reconciling Data:
Continuous syncing and reconciling of data across various Hyperion applications consumes valuable time that could be spent on higher-value activities. - High Costs of Ownership and Upgrades:
The financial burden of maintaining and upgrading multiple Hyperion applications can be considerable. Upgrading often results in losing critical capabilities, complicating the decision to continue with Hyperion.
Challenges of Integrated EPM Solutions
Globally, many organizations depend on Oracle Hyperion EPM applications to support essential finance processes. These applications include:
Hyperion Financial Management (HFM)
Hyperion Planning
Hyperion Financial Data Quality Management
Hyperion Strategic Finance
Hyperion Profitability and Cost Management
Oracle Essbase
While each product is effective individually, the challenge lies in integrating them to gain comprehensive financial insights. This integration difficulty can limit the overall return on investment.
Oracle Hyperion End of Life
Oracle has extended the support period for Hyperion multiple times, but the official end-of-life for these products is on the horizon. While upgrading to version 11.2.x remains an option, organizations should be aware that certain functionalities, such as EPM Architect (EPMA) and Hyperion BI+ Reporting, may no longer be available. It’s crucial for organizations to carefully evaluate how these changes may affect their operations.
Challenges with Separate EPM Processes
Managing separate EPM tools can lead to operational inefficiencies. Even with a transition to Oracle's cloud EPM, organizations may still need to handle multiple products and integration points. This could result in limited improvements in overall efficiency.
Evolving User and Partner Community
The Oracle Hyperion user and partner communities are gradually shifting focus. With many partners moving to other EPM solutions like OneStream, the availability of experienced consultants for Hyperion is decreasing. This trend encourages organizations to explore more innovative and integrated solutions.
Support Experience Considerations
Some customers have expressed concerns about Oracle Hyperion’s support services, citing delays, challenges with customizations, and a growing emphasis on self-service models. As a result, organizations may want to reassess their support needs in the context of their overall EPM strategy.
Total Cost of Ownership (TCO) Analysis
Maintaining separate legacy or cloud CPM applications can result in a higher total cost of ownership compared to a unified solution. Disparate systems often require additional integration efforts, which can drive up costs and inefficiencies. Exploring a unified EPM platform, such as OneStream, could potentially offer more streamlined processes and a more cost-effective approach.
Evaluating Current EPM Technology
When reassessing CPM technology, it's crucial to consider both your organization's evolution and the technological advancements available. The numerous innovations in CPM make it essential to move beyond legacy solutions that require extensive maintenance. Adopting a more advanced solution like OneStream can ensure your organization is well-positioned for future success.
The OneStream Advantage
OneStream has become a preferred choice for over 450 former Oracle Hyperion customers worldwide. It offers a unified solution that eliminates the need for multiple point solutions, reducing complexity and driving greater efficiency. AMCO Solutions, with our extensive expertise and status as a OneStream triple diamond development partner, is ideally positioned to guide organizations through this transition.
Conclusion
For finance teams considering the future of their Oracle Hyperion solutions, transitioning to a more unified and efficient EPM platform like OneStream is a compelling option. AMCO Solutions can support your journey towards a future-proof CPM strategy, leveraging our deep knowledge and expertise.
By choosing OneStream and partnering with AMCO Solutions, finance teams can achieve enhanced performance, reduced costs, and a more streamlined approach to enterprise performance management. Discover how AMCO Solutions can help you navigate the complexities of CPM and set your organization on a path to success.
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