Simplify Budget Preparation with New Public Sector Planning and Budgeting Module

Designed to meet the unique needs of public sector and higher-education organizations, the new Oracle Hyperion Public Sector Planning and Budgeting module integrates and simplifies complex budget preparation, review and approval, publication, and budget management processes.

“Public sector organizations are chasing limited budgetary sources while they face increasingly complex regulatory oversight and accountability mandates,” says Bala Subramanian, director of product management, Oracle. “We developed this module so they can spend fewer precious resources on budgeting activities—and more time on analysis and forecasting.”

Built on the Oracle Hyperion Planning platform, the new module addresses specific requirements of public sector customers, including

• Position budgeting and planning
• Production of high-quality budget books
• Complex review and approval processes for plans and budgets

Deep Integration with HR and Financials Systems
To support these end-to-end processes, the new module supports key integrations with both Oracle and third-party financial and human capital management (HCM) systems. For reducing configuration time and simplifying integration processes, it can be coupled with Oracle Hyperion Financial Data Quality Management, which includes packaged functionality for integration with the major ERP systems such as Oracle, PeopleSoft and SAP.

By synchronizing planning and budgeting with HCM systems, organizations can evaluate the impact of employee compensation and benefits on overall budgets. Thanks to sophisticated planning and budgeting process management features—including the ability to maintain multiple versions of budgets and plans—organizations can forecast the impact of new positions, workforce reductions, contract proposals, and negotiations.

At the same time, budget balances can be loaded into general ledger systems and budget preparers can also drill down to general ledger details for further analysis of actual during budget preparation.

Designed for the Public Sector
“Numerous enhancements to the planning platform make it even more suitable for our public sector customers,” says Subramanian.

For example, the module makes it easier to create detailed budget reports and production-quality budget books—a key requirement for many public sector organizations. Extensive new financial reporting features, designed specifically for public sector, drive the creation of highly formatted books in various formats.

Other key features designed with the public sector in mind include

• Process management functionality that allows finer configurable process control, for example by organization and program, with support for different review and approval processes for budgets, plans, forecasts, and adjustments
• Support for matrix organizations, so multiple reviewers can be notified as budgets are prepared or adjusted
• Ability to configure data validation constraints to prevent submission of budgets beyond organizationally defined metrics

Find out more about Oracle Hyperion Public Sector Planning and Budgeting.

Source—Oracle.com