The name of this product has, in our opinion, made its true purpose and benefit slightly less obvious. Its former name is Hyperion Master Data Management - that fits much better.
Oracle DRM is an incredibly flexible and powerful tool for managing Master Data and the hierarchical structures, relationships, mappings and inter-dependencies. It supports managing the complex 'business rules' that are usually involved in any organisation's Chart of Accounts, Product Codes, Cost Centre structures etc.
Although it can, of course, provide all the technical integration between systems, inside and outside of the Oracle EPM estate, it is particularly important to recognise that Oracle DRM is all about managing the business process of requesting, authorising and making changes to the cross-organisation agreed view of the Master Data.
Hyperion acquired its MDM product years ago and has since done a lot of good things integrating it with the rest of the EPM suite.
When they first brought it into their stable, our MD got very excited about it, as he did with Hyperion Strategic Finance, which was acquired at about the same time. He recognised both of these applications as filling crucially important gaps in the overall EPM systems offering - his opinion has not changed after all these years.
In our view, Master Data Management is one of the most important, but most frequently overlooked, topics in ensuring a successful delivery and adoption of EPM systems.
If it sounds like we're speaking your language, Please contact Nigel Dahl through LinkedIn using the button below, or call him now on +44 (0)7799 664165.
Managing Director of epmgurus, brings 30 years of diverse experience to bear in helping organisations and teams through change – of size, structure, systems, management or ownership.
Nigel has run, advised, supported or worked with Finance functions from one-person operations up to globally dispersed Finance departments of several thousand people. He knows what good (and bad!) looks like.
Enterprise Performance Management (EPM) is a broad term covering any business process that seeks to improve performance through a continuous loop of data collection, reporting, analysis and, most importantly, informed and targeted action.
In practice, Finance EPM is generally considered to cover at least Strategic, Financial and Operational Planning, Budgeting and Forecasting, Management Reporting (MI), Financial Consolidation, Statutory Reporting, Profitability and Cost Management, including Cost Allocation.