Hyperion Strategic Finance is a highly focused tool designed to support the Strategic Planning process. It's all about the long-term; turning strategic objectives into a high-level plan, applying what-if analysis to it, evaluating options such as acquisitions, disposals and major investment projects. It is typically used by a dedicated team often co-located at group HQ.
This is quite different from the bottom-up preparation of budgets and forecasts from a disparate community across the organisation, for which Hyperion Planning is ideally suited.
Hyperion acquired its Strategic Finance 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 Master Data Management, as it then was (now Oracle DRM), 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.
Implementations of Hyperion Strategic Finance tend to be shorter, sweeter and cheaper than the inevitably larger scale projects required to implement some of the other EPM solutions across a wider cross-section of the organisation. We're typically talking weeks/months, not months/years.
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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.