ORACLE OPENWORLD, SAN FRANCISCO, Nov. 13 /PRNewswire-FirstCall/ -- Oracle today previewed the industry's first integrated, hot-pluggable enterprise performance management system by showing the planned new enhancements to the Oracle(R) Enterprise Performance Management (EPM) System. Planned new features span Oracle's category-leading performance management applications, business intelligence applications, and technology foundation offerings. Development plans for performance management application innovations include new XBRL capabilities, improved drill back functionality, and a new profitability management application. Planned new business intelligence features include the release of Oracle's Essbase Studio and Oracle Enterprise Performance Management Smart Space.
ORACLE OPENWORLD, SAN FRANCISCO, Nov. 13 /PRNewswire-FirstCall/ — Oracle today previewed the industry's first integrated, hot-pluggable enterprise performance management system by showing the planned new enhancements to the Oracle(R) Enterprise Performance Management (EPM) System. Planned new features span Oracle's category-leading performance management applications, business intelligence applications, and technology foundation offerings. Development plans for performance management application innovations include new XBRL capabilities, improved drill back functionality, and a new profitability management application. Planned new business intelligence features include the release of Oracle's Essbase Studio and Oracle Enterprise Performance Management Smart Space.
"Oracle continues to deliver on its promise to innovate and rapidly deliver on the industry's most complete, hot-pluggable enterprise performance management system," said Thomas Kurian, senior vice president, Oracle Server Technologies. "The new enhancements previewed today should enable Oracle EPM users at all levels of the enterprise to advance how they manage, interact with and utilize their financial and operational information to drive better business transformation and results."
Innovations Streamline Financial Management Processes
Oracle's EPM system enables CFOs, line of business managers and IT users to align business goals with actual performance, to drive better insight and business results. By integrating the entire management cycle, the Oracle Enterprise Performance Management System empowers customers to drive better business performance by linking strategies to plans, continuously monitoring and optimizing execution, and reporting results in a timely, accurate manner. Planned new capabilities previewed in the Oracle Enterprise Performance Management System include:
— Profitability Management: Having the ability to understand profitability at a very detailed level enables companies to more efficiently allocate resources to the best business opportunities. Oracle's Hyperion Profitability Management application intends to address customer requirements for profitability analysis, using activity-based costing or other methods, to easily build complex, multi-step allocation models – allocating revenues and costs down to a very granular level. Coupled with the business intelligence tools featured in the Oracle Enterprise Performance Management System, Hyperion Profitability Management is being designed to allow users to understand profitability by customer, product, service, channel, brand or any other dimension of their business. — Drill-Back: Detailed account reconciliations and analysis are part of the financial consolidation and period-end closing process. Therefore, having the ability to quickly drill back to the underlying details behind an account balance or variance allows financial executives to understand whether there is an error and quickly correct it if needed – leading to a faster closing process, with improved accuracy. Planned new capabilities in Oracle's Hyperion Financial Management are designed to support out-of-the-box drill-down capabilities on dimension such as accounts, organization structures, time, and products within the Oracle E-Business Suite and PeopleSoft Enterprise such as General Ledger. — Enhanced XBRL Support: XBRL is an XML standard for Financial Reporting. This machine-readable language enables faster access and analysis of financial statements by regulators and investors, and could become an SEC filing mandate for public companies within the next few years. The planned new XBRL Manager feature within Oracle's Hyperion Financial Reporting is designed to allow customers to attach XBRL tags to their financial statements – with data coming from Oracle's Hyperion Financial Management, Oracle's Essbase or Oracle's Hyperion Planning. The enhanced XBRL capability should allow customers to create XBRL- tagged financial statements – using the most current version of the XBRL taxonomies. These XBRL-based financial statements can then be submitted to a regulatory body for collection and storage – or can be posted on a company's Web site for access by investors and other stakeholders.
"At Central, we are interested in making item and customer profitability analysis a part of the fabric of our performance reporting systems," said John Casella, CIO, Central Garden and Pet Company. "By providing a parallel view of business performance on a fully-allocated basis, our business unit leaders and managers will be empowered to make more informed pricing and item management decisions. The planned capabilities of the new Hyperion Profitability Management product target this key set of needs and could assist us fulfilling the vision of an integrated performance management system for our business."
Planned New Capabilities Drive Ease of Use of BI and Foundational Applications
Oracle Business Intelligence Foundation suite of solutions provides a single, shared infrastructure to deliver actionable information as well as manage users, security, and metadata. Planned new enhancements to Oracle Business Intelligence Foundation offerings include:
— Essbase Studio: Oracle's Essbase Studio is the next generation environment for the development, deployment and maintenance of enterprise scale Essbase analytic applications. Development is designing a new unified environment that helps significantly reduce the effort in building and maintaining enterprise Essbase applications will help lower the total cost of Essbase ownership. Oracle's Essbase Studio is being designed to enable data lineage analysis, enabling users to benefit from data visibility back to the data source and fostering greater confidence in the analytics that Essbase produces. — Smart Space: Oracle Enterprise Performance Management Smart Space is an EPM desktop gadget development, deployment and management system. Designed to be scalable and SOA-based, it consists of a configurable and extensible library of pre-packaged gadgets, a development toolkit for optionally creating custom gadgets, and a secure instant messaging environment for shared decision-making. Smart Space should provide a convenient, intuitive and visually compelling interface for users to consume information, increasing the potential for wider adoption of company data, without the need for costly and disruptive training. Smart Space thus extends the benefits of performance management to new casual user communities. — Calculation Manager: The Calculation Manager functionality within Enterprise Performance Management Architect is designed to enable users to visually construct and manage business rules and calculations in a single integrated environment. Calculation Manager plans to include prepackaged business rule templates for typical performance management calculations and the business rules created by Calculation Manager can be deployed to Oracle Hyperion Financial Management, Oracle Hyperion Planning and Oracle Hyperion Essbase applications. This "build once, use anywhere" approach lowers cost of ownership and the modular nature of these business rules enables consistency and reuse of business rules. For more information visit: http://www.oracle.com/epm.
About Oracle Business Intelligence and Enterprise Performance Management
Oracle Business Intelligence is a portfolio of technology and applications that provides the industry's first integrated, end-to-end Enterprise Performance Management System, including category-leading performance management applications, BI applications, BI foundation and tools, and data warehousing.
About Oracle Fusion Middleware: Leader in Middleware
The company's comprehensive, standards-based family of middleware products, Oracle Fusion Middleware software spans portals and process managers to application infrastructure, developer tools, enterprise content management and business intelligence. Oracle Fusion Middleware enables organizations to increase their capacity for growth and change; improve insight into business operations; mitigate risk and drive compliance; and connect with customers, partners, and workers. More than 50,000 customers now use Oracle Fusion Middleware and include leading organizations in the Financial Services, Telecommunications, Manufacturing, Retail, Pharmaceuticals, Health Care and Public Sector industries. Oracle Fusion Middleware is also supported by 9,000 partners, including market-leading independent software vendors, value-added resellers and system integrators. For additional information visit: http://www.oracle.com/middleware.
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