Skip to main content

Modern businesses – those with huge in-person offices, those working remotely and every business between the two – are run on the cloud.  In the process, a lot of software is used, but none can be considered more important than financial close & consolidation software.

Every organization must produce and file financial results.  That process can entail loading data from multiple global entities, consolidating complex ownerships, reconciling thousands of accounts and matching detailed transactions, and more.

But whatever processes are involved, one thing is certain: Choosing the right EPM software with best-in-class capabilities for each process is vital.  Why?  The right software enables an organization to move away from unreliable, inadequate EPM applications and/or spreadsheets.

In this article, we’ll compare two great options in the financial close & consolidation space: OneStream and Oracle HFM.  Now let’s dive in, so you can zero in on the best forward-looking choice for your business.

OneStream vs. Oracle HFM: What Is OneStream?

OneStream is the only solution for EPM delivering end-to-end management of enterprise-wide consolidation, close, financial, and operational planning & forecasting in a uniquely unified platform.  With it, Finance and Operations teams can collaborate by creating a single source of truth that eliminates a host of time-consuming or costly aspects of legacy EPM solutions:

OneStream is how Finance teams can stop wrangling data and start making more of an impact on the business.  In fact, OneStream is the only Enterprise Finance platform that does all three of the following:

OneStream vs. Oracle HFM: What Is Oracle HFM?

Oracle HFM was originally Hyperion Financial Management.  It was launched in 2005 as an on-premise client server solution-based financial consolidation and reporting solution.  Globally, HFM was widely adopted by medium to large organizations.  Why?  It was one of only a few applications that could handle much of the complexity in processes demanded by these organizations.  While budgets and forecasts could be loaded to HFM, it couldn’t run some of the more advanced processes – often forcing organizations to purchase a separate budgeting, planning and forecasting tool.

The Oracle HFM user community is declining and this raises questions for the longer term.

OneStream vs. Oracle HFM: OneStream Features

OneStream vs. Oracle HFM: Oracle HFM Features

OneStream vs. Oracle HFM: Which Is Better?

OneStream is the only solution for EPM delivering end-to-end management of enterprise-wide consolidation, close, financial and operational planning & forecasting in a unified platform.  This platform helps Finance and Operations teams collaborate by creating a single source of truth.  With OneStream, you can thus eliminate the complexity of multiple solutions, interfaces and integrations; cost and duplication of data and metadata; time-consuming processes; and upgrades.

OneStream ultimately puts Finance in full control.  How?  By providing a strong, flexible foundation for close, consolidation, planning, reporting and analysis with superior data quality that’s ERP and source system agnostic.  And the platform delivers it as real-time as needed, with drill down and drill back to any source.  With those capabilities, Finance gets not only auditability across all processes but also actionable insights behind every number.

OneStream delivers the following:

To be sure, Oracle HFM excelled when it comes to the consolidated financial results of global organizations.  However the HFM user community is declining, and the solution is not a latest generation fully unified EPM platform.

Conclusion

Oracle HFM offered unique features and benefits, catering to the diverse needs of organizations across industries.  However, for a current, fully supported solution that streamlines key Finance processes and significantly increases confidence in reporting, OneStream is the best unified EPM software.  It’s equipped to handle all your requirements, no matter how complex.

Learn More

To learn more about how organizations are managing the complexity in their EPM processes, check out our whitepaper titled Mastering the Financial Close.

And if you’re ready to take the leap from spreadsheets or legacy EPM solutions and start your Finance Transformation with OneStream, let’s chat!

Learn More

Why are visibility and agility so important in today’s business environment? Because these are critical factors for success – they enable quick decision-making, drive resilience and are essential for enterprises in navigating a complex, fast-paced world. Driving visibility and agility to scale across the enterprise is essential for businesses looking to digitally transform. Creating an agile, digital business environment affects the entire enterprise, allowing employees to cohesively work together and freeing up time from manual tasks to allow for more analysis and innovation.

Read on to learn how Ingram Micro embarked on their own finance transformation journey with OneStream’s unified corporate performance management (CPM) platform. After facing the challenges of integrating multiple  ERP systems into several different Oracle Hyperion applications Ingram Micro implemented OneStream to streamline its complex financial processes and improve visibility into profitability across products and customers. The result? Hours-long processes shortened to just minutes, better visibility into what drives the business and increased business agility. Let’s dive in!

Driving Finance Transformation

Ingram Micro is one of the world’s largest technology distributors, helping businesses realize the promise of technology. Based in Irvine, CA, Ingram Micro employs over 29K people and has an annual revenue of approximately $54B. Ingram Micro had multiple ERP systems and an extensive Oracle Hyperion footprint for financial consolidation, budgeting and management reporting, including Hyperion Financial Management (HFM), Hyperion Planning, Essbase, and Hyperion Profitability and Cost Management (HPCM). Additionally, Ingram Micro was using Trintech for account reconciliations and Qlik for reporting.

Ingram Micro was challenged by this complex environment of fragmented solutions. The company set out on a mission to replace the Hyperion suite, with the speed of profitability allocations as a main driver. Other key measurements of success for Ingram Micro included managing margins, profitability analysis and impact on working capital. However, Ingram Micro has many ERP systems with different instances around the world, making it difficult to get data from those systems into the profitabiltiy solution.

Financial reporting was also an issue as countries had to wait between two and four hours after posting a journal in the general ledger to see the data in Hyperion. “We have an annual CFO conference where financial directors from all countries came together in Irvine,” said Jan de Leeuw, Director of Financial Systems at Ingram Micro. “Normally I present there, and I was always apologizing about challenges with our data in Hyperion. It felt like nobody was happy with me during the first three years that I was working in this role. We needed a better way to understand profitability for a customer to evaluate new opportunities.”

Selecting a Modern CPM System

Ingram Micro was concerned about their profitability solution and was careful in their decision to explore the market as the company operates globally in 62 countries, with approximately 200 entities. Ingram Micro initially tried the Oracle EPM Cloud solution, but upon testing saw it resulted in a very slow allocation process and the numbers didn’t reconcile.

Oracle simply couldn’t handle our performance needs — it was not the right solution for Ingram,” said de Leeuw. “From there we had many conversations with OneStream about the solution’s ability to handle large volumes of data. We looked at our current processes and future goals and felt confident that OneStream could handle it. We put a lot of trust in OneStream and took a step in the dark, which in the end was very successful. We have a high boosted environment right now with over 1,000 users currently, which is expected to grow to 1,100 by the end of the year.”

Ingram Micro went live with OneStream in the Microsoft Azure cloud for financial consolidation and budgeting in 2021. The company further extended their investment in the platform, adding People Planning, Capital Planning and Account Reconciliation solutions from the OneStream™ MarketPlace.

Streamlined Financial Operations & Profitability Models

Because of Ingram Micro’s complex ERP landscape and with multiple Hyperion applications, everything was batch driven. Users were pushing the data every two hours into Hyperion, creating delays with consolidation and management reporting. Now with OneStream’s unified CPM software, it is an on-demand process where users can push the data in whenever the country is ready. The timeline between the journal posting in the ERP to it landing in the consolidation system shortened from two hours to five minutes.

“The OneStream dashboarding is strong, with the ability to give every country one standard way of starting their analysis, plus the ability to play with the data for their own needs,” said de Leeuw. “On the budgeting side, we are leveraging OneStream for the annual budget, quarterly forecasting, and some monthly forecasting. We look forward to implementing weekly forecast soon.”

Ingram Micro also built dashboards to provide the company’s users with improved visibility into profitability across 170K customers  and 1,500 vendor partners. De Leeuw added, “We now have much more insight into performance and profitability by customer, item and country. It’s one of our most important instruments.”

Benefits of OneStream

Since implementing OneStream, the speed of allocations has significantly improved, shortening the cycle from eight hours down to 10-20 minutes. Users can check the data, adjust and complete allocations within minutes, instead of waiting overnight. According to de Leeuw, “Rapid refresh was not possible in Hyperion, and it took 56 hours from beginning to end to run the process. We were able to reduce that process to eight hours and now users can run it whenever they want, and it takes only 20 minutes to refresh. That’s a huge game changer for everyone that’s working with the data.”

Scalability has also significantly improved with OneStream. In HPCM, onboarding new countries would take three to four months to build a new application. With OneStream, the information is already there so users can simply add the vendors and customers of that specific country and they are on board.

There are so many things I like about OneStream,” said de Leeuw. “Speed, speed, speed, everything is faster. The users are happy and it’s easier to present. Support is fantastic, escalations are reduced to the minimum, and the technical reliability is amazing — which is something I never experienced with Hyperion. I like having the flexibility to build solutions out in the in the platform— the technology is very powerful. And the OneStream team listens and is always willing to help by continuing to develop things that are beneficial for companies like Ingram Micro. It’s been tremendous.”

Looking Ahead

Ingram Micro is exploring additional opportunities to automate their budget process and implement new MarketPlace solutions. The company hopes to do a 6-12 months trend analysis in the platform. But high on their list of plans is exploring OneStream’s Sensible Machine Learning solution.

Learn More

To learn more about Ingram Micro’s journey from Oracle Hyperion to OneStream, check out the case study for more information. If your organization is ready for a finance transformation, contact OneStream today.

Download the Case Study

The Oracle Hyperion enterprise performance management (EPM) applications have been in the market for over 20 years and have delivered a great deal of value for many customers.  But as demand for EPM applications has shifted to the cloud, Oracle has reduced its investment in the Hyperion on-premise applications and is encouraging customers to migrate to the Oracle EPM Cloud applications.

This is creating a critical decision point for Hyperion EPM customers and is begging the answer to several questions. What is the future of Hyperion EPM?  Will the Oracle EPM Cloud applications meet my needs and what will it cost to upgrade?  What other options are available in the market?  Read on to learn the answers to these questions.

End of the Road for Oracle Hyperion Applications

Thousands of organizations around the world are relying on multiple Oracle Hyperion EPM applications to support their critical finance processes.  This includes products such as Hyperion Financial Management, Hyperion Planning, Hyperion Strategic Finance, Hyperion Profitability, Cost Management, and others. These were market-leading products for many years, and customers have received great value from them.  However, the fragmented nature of these products has created extra work and costs, including the following:

In addition, over the past few years, there has been limited innovation and declining support for these legacy products.  And now, with the end of support having passed on 12/31/21 for older versions of these products – we have reached a decision point for Hyperion customers.  The proverbial “fork in the road.”

Which path will you choose? Let’s look at the options available.

Path #1 – Upgrade to Oracle Hyperion EPM 11.2

The first option for customers facing the end of support for Hyperion 11.1.2.4 or older versions is to upgrade to Oracle Hyperion EPM 11.2. Oracle has communicated that customers upgrading to this version of the Hyperion applications will be supported through 2031. However, very little innovation is expected on these products, and Oracle has already communicated that some modules were deprecated and are no longer supported.

Path #2 – Convert to Oracle EPM Cloud

The second option is to convert to Oracle EPM Cloud versions of the on-premise Hyperion applications. The main advantages here are that moving to the cloud removes the infrastructure and IT support requirements, and upgrades to new releases are easier. However, this path basically amounts to a re-implementation of the applications, which are still fragmented, with multiple points of maintenance and data integration. And in some cases, the EPM Cloud applications offer more limited functionality than was provided in the on-premise Hyperion applications. Does anyone really want to go backward in functionality?

Path #3 – Convert to Another Solution

The third option is to convert to another solution – such as OneStream. While there will certainly be some time, effort, and costs required here – over 400 former Oracle Hyperion customers have converted to OneStream and have never looked back. Why? Because OneStream is a unified platform that replaces multiple Hyperion applications – so it’s easier to use and maintain and reduces total cost of ownership. And OneStream is “function-forward,” meaning customers get more advanced capabilities than they had before.

The Power of an Intelligent Finance Platform

Gartner Cloud FC MQ
Figure 1 – OneStream’s Unified, Intelligent Finance Platform

With over 900 organizations and more than 160,000 users globally, OneStream has been recognized as a market leader by IT industry analyst firms such as Gartner, IDC, Dresner Advisory Services, Nucleus Research, and others and has received the Gartner Peer Insights Customers’ Choice recognition in both Cloud Financial Close and Cloud FP&A solutions.

Awards

Our customers are using OneStream for planning, financial close & consolidation, reporting, analytics, account reconciliations, and more. In fact, 70% of our customers replaced multiple legacy applications such as Oracle Hyperion, SAP BPC, and IBM Cognos.

These organizations are achieving many benefits, including the following:

  1. Reduced Technical Debt – Lower cost of ownership by eliminating multiple legacy applications and manual processes.
  2. Increased Efficiency – average improvements of 39% in financial close and consolidation, 74% in reporting, and 32% in planning and budgeting – freeing up FTEs to focus on more value-added tasks.
  3. Improved Effectiveness – The impact on the business of making faster, more informed decisions.

Learn More

With the end-of-life looming, it’s a critical decision point for Hyperion EPM customers.  What is the future of Hyperion?  For customers who elect to upgrade to Oracle Hyperion 11.2 the future means you can get support, but limited innovation, which means limited ability to digitally transform your Finance operations.  Migrating to Oracle EPM Cloud is an option, but buyer beware, you’ll face a lot of the same challenges that you face in managing and maintaining multiple Hyperion on-premise applications.

Check out our white paper titled “Why Now is the Time to Convert From Oracle Hyperion Applications” to learn why over 400 organizations have chosen to convert from Oracle Hyperion to OneStream’s unified CPM software platform. And contact OneStream if you would like a conversion assessment, where our team of experts will help you perform an ROI analysis of converting from Oracle Hyperion to OneStream.

Download the White Paper

Oracle Hyperion enterprise performance management (EPM) applications have led the market for several years, providing trusted and reliable capabilities to organizations worldwide. These applications were developed one by one to form what is largely known as the Oracle Hyperion EPM Suite.

In the suite, the key EPM processes – such as financial consolidation, planning, financial reporting and others – were provided in separate applications and reference data, and data would be moved between applications via integrations. To give the appearance of a suite, several shared services were created to handle reference data uploads and synchronization along with user creation and security across the products.

But make no mistake, despite ‘integrations’ – the products are very much fragmented – and so is the user experience for Finance teams at large, sophisticated organizations.

Oracle is now pushing their customers towards an inflection point.

(more…)

One of the challenges with legacy corporate performance management (CPM) applications is that they are fragmented.  So organizations who adopt them end up deploying and managing different applications for specific processes such as financial consolidation, management reporting, planning, profitability analysis and others.  And to make life even more complex, for various reasons, organizations often end up with multiple instances of these applications.  This can occur due to acquisitions, varying requirements across divisions or subsidiaries, or different fiscal years.

(more…)

Well, here we are in the Spring of 2021. The weather is getting warmer, the vaccines are rolling out and there’s hope that the pandemic has reached the tipping point and the world will turn to normal later this year. But 2021 also represents a critical tipping point for Oracle Hyperion customers who must make an important decision about their future. Will you upgrade to Hyperion 11.2? Convert to Oracle EPM Cloud? Or will you consider an alternative solution such as OneStream?

(more…)

One trend I’ve seen consistently over the past 20+ years working in the Financial Applications market is that Finance managers and users are conservative, risk averse, and resistant to change. When they have a software application that meets their current needs and “does the job”, they will often hold on to it for as long as possible, sometimes falling behind on releases and even going unsupported by the software vendor.

(more…)

Transforming finance processes can be difficult when the organization is relying on legacy corporate performance management (CPM) applications that are fragmented and require a lot of staff time and effort to maintain. When this is the case, planning and reporting processes often take too long, and the Finance team has little time available for value added analysis and decision support. Moving to a modern, unified CPM platform has been a proven approach to remedying this situation.

(more…)

Many sophisticated organizations today are stuck in a tangled web of multiple applications to support financial consolidation, reporting and planning needs. But maintaining a fragmented landscape of finance systems is costly and challenging. How can you be sure your data is correct when there are multiple versions of results? And as these organizations expand, business models shift which can cause added strain on finance teams. Luckily, there’s a better solution.

A unified, cloud-based corporate performance management (CPM) software can help centralize financial databases into a single platform to automate key processes with real-time insights and a comprehensive view of the entire enterprise. Cloud-based CPMs are cost-effective and secure, yet flexible with several integration options. By upgrading to a unified CPM landscape, organizations can rest assured that their needs are met as the business continues to grow.

(more…)

When a business breaks off from its parent company, the organizational change can be hard. Systems and processes need to be reassessed and streamlined to fit the new needs of the independent organization. Often, inherited legacy systems simply cannot keep up. Premium Sound Solutions (PSS) was in this exact situation when they separated from Philips Electronics in 2014. They knew it was the opportune time to replace Hyperion Financial Management (HFM) with OneStream for financial consolidation and reporting.

(more…)

Even the smallest numbers in a balance sheet can have a huge impact on business. And properly analyzing financial statements is crucial when decisions are to be made. As the biggest buyer of petroleum coke in the world, Oxbow Carbon is a leading industrial commodity logistics company for steel, aluminum and other industrial manufacturing.

(more…)

Every retail business wants to offer the best shopping experience for their customers. But without visibility into store-level activity, it can be tricky to gain critical insights such as sales by product and region. This is often the problem with legacy corporate performance management (CPM) systems that lack the level of granularity needed to drive the business forward. Europe’s leading lingerie brand, Hunkemöller, was caught in a similar situation when Hyperion Enterprise could not keep up with their tremendous growth. They knew it was time to switch to a modern CPM platform that offered unique agility and scalability. And that’s when they found OneStream.

(more…)

Demo Sign Up