BizTech Blog

Oracle Hyperion Planning vs. Other Budgeting Tools

Posted by Stephen Goldsmith

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Nov 19, 2012 3:13:00 PM

Oracle Hyperion Planning: Simply the Best. By combining prepackaged software with business intelligence capabilities and proven best planning practices, next-generation enterprise planning solutions optimize business planning across the enterprise. With the right enterprise planning technology in place, you will be able to drive collaborative, integrated event-based planning at all levels of your organization and with all appropriate participants.

A comprehensive enterprise planning solution should:

  • Translate strategic objectives into operational goals and targets
  • Seed operational plans with strategic targets
  • Update strategic plans using the most current operational plans and forecasts
  • Update strategic and operational plans easily and frequently
  • Perform powerful what-if and ad hoc analysis
  • Integrate all planning processes into a single centralized environment

With so many low cost Budgeting and Forecasting tools available (primarily residing on Cloud or SaaS -Software-as-a-Service Platforms) why do middle tier companies still choose Oracle Hyperion Planning? What makes Hyperion Planning the #1 selling Budgeting and Forecasting tool in the world?

For starters, SaaS based budgeting solutions are subscription based, which usually last for only a year and need to be renewed and enhanced annually, which over a period of three years typically costs companies more than a one-time implementation of Oracle Hyperion Planning.

That, coupled with limited or no ability to interface with Microsoft Office, extensive training requirements to familiarize users with the new templates and environments, and difficulty changing formulas, scenarios, versions and subscription plans makes the on-line “less expensive version” much less appealing to new companies than initially assumed.

Planning is part of Oracle's Hyperion EPM software suite, and is often utilized with Hyperion Financial Reports and Web Analysis to enhance the analytic value inherent in its underlying use of Essbase.

Other features that differentiate Oracle Hyperion Planning from other budgeting tools include:

  • Smart View, an add-in with Microsoft Office which allows users to forecast or budget in Microsoft Excel, an environment comfortable to most finance users.
  • A web driven Planning and Budgeting tool that utilizes Oracle Essbase as the data storage and calculation engine. No longer do users shave to have the software installed on hard drives.
  • Calculation power to handle predictive planning, allocations and complicated revenue recognition planning like no other budgeting tool.
  • Budget wizard, which exists to guide planners which includes instructions and due dates; Alerts and progress monitoring, and sends email reminders to users.
  • Two additional add-in modules, Workforce Planning and CapEx Planning that can be used along with Oracle Hyperion Planning to increase performance drivers in budgets and emphasize operational budgeting.

In summary, when choosing an enterprise planning solution, companies should verify that it covers the following functional areas:

Strategic modeling. Your enterprise planning solution should allow you to analyze, evaluate, and choose strategic financial models; model balance sheets, income statements, and cash flows; and run different scenarios on margins and investment requirements.

Financial planning and forecasting. The planning environment should allow you to create, track, and monitor business plans and forecasts in real time, and consolidate forecasts by geography and product.

Operational planning. Your enterprise planning solution should speed workforce, capital, and project planning across the enterprise, providing real-time awareness of the impacts of your resource allocation decisions.

Only Hyperion Planning captures all these critical parts of a successful budgeting and forecasting solution. It enhances forecasting capabilities beyond Excel or Essbase/Excel environments, simplifies data input & use, provides robust data integration, and establishes a framework for flexible, rules-based plan modeling.

Hyperion Planning also supports a scalable web-based infrastructure with an intuitive interface, provides an integrated environment with a sophisticated reporting, security and auditing layer and lays the foundation for process establishment and reporting to address specific business functions.

BizTech enables organizations to embrace the power of Hyperion Planning. Our experienced consultants help companies achieve improved budgeting and forecasting techniques often in less than 45 business days! With BizTech and Hyperion, organizations spend less time emailing and consolidating budgeting spreadsheets and more time developing plans to ensure financial success.

Topics: Oracle Business Intelligence, Hyperion EPM