New EPM System Release Delivers Financial Close and Disclosure Management Modules

On April 7, Oracle launched the widely anticipated Oracle EPM System Release 11.1.2, which delivers new closed-loop solutions for financial close and disclosure management, enhanced planning and budgeting, and a range of new features that reduce total cost of ownership.

New End-to-End Financial Close and Disclosure Management
The new Oracle Hyperion Financial Close Management module provides closed-loop management of extended financial close processes by combining a single, unified dashboard with task management and workflow functionality.

“It coordinates the entire financial close process by ensuring all key players get automated task assignments and workflow notifications,” explains John O’Rourke, vice president of product marketing, Oracle. “At the same time, executives gain real-time insight into bottlenecks, so they can take action immediately and focus on areas for improvement.”

Also new in Release 11.1.2, the new Oracle Hyperion Disclosure Management module helps organizations create regulatory filings and XBRL instance documents for submission to the SEC and other regulatory bodies.

Using Microsoft Word as the authoring environment, users can “hot link” their financial filings to Oracle’s financial reporting applications to ensure accuracy and easy updating. These filings can be produced in multiple formats, including Microsoft Word, HTML, and PDF, as well as XBRL.

By integrating financial filings with the rest of the financial close and reporting process, organizations gain more control and accuracy throughout the process and can reduce reliance on third-party publishers.

“This solution helps eliminate errors in a complex process that requires a combination of structured and unstructured information,” says O’Rourke. “In the process, it saves both the costs and risk associated with third-party financial publishers.”

Planning and Budgeting for the Recovery
Oracle EPM System Release 11.1.2 also encompasses a range of innovations that enhance planning and budgeting processes across the enterprise.

For example, Oracle Hyperion Planning now has more flexible process management and a number of enhancements to Web forms to make them more flexible and intuitive for end users. This release also includes major enhancements to the Microsoft Office interface, including the integration of planning tasks and process management into Microsoft Excel and Outlook.

In addition, the release includes a new planning and budgeting module designed specifically to address the needs of public sector organizations.

More Integration, Less Total Cost of Ownership
A series of new features in EPM System Release 11.1.2 help customers get up and running faster, even while lowering total cost of ownership. The three key areas of integration include

Enhanced integration with Oracle and PeopleSoft financials and human capital management applications
Streamlined enterprise dimension management with an enhanced Oracle Hyperion Data Relationship Management module
Simplified administration through enhanced application and calculation management

Learn more about Oracle EPM System Release 11.1.2.