Hyperion tools are very useful in finance. For example, the data relationship management is good for anything that you need to store hierarchical information about, and can be used for data enhancement and modeling. It has a lot of features that assist other parts of the organization as well, but the tools evolved around financial organizations.
Improvements to My Organization
In finance, if you have a central repository feeding all of your downstream systems of the metadata that you use, you reduce the number of account reconciliations and report reconciliations that you have to do. It also gives you data quality.
Room for Improvement
I think that Oracle in general is moving towards cloud technology to remove some of the costs associated with, for example, the EPM suite. The EPM suite, as its capabilities increase, requires upgrading your servers and keeping up with the technology. By going to the cloud, customers are able to avoid those costs.
Once the Oracle products are installed, they're pretty stable. A lot depends on how they're set up, and a lot depends on making sure that you adhere to best practices.
All the Hyperion products that I'm involved with scale very well. They're designed to handle large businesses. People sometimes want to do strange things. They push the tools to the limit, for example. They want to do consolidation of the product level or a customer level, and then it gets a little more complicated.
Customer Service and Technical Support
Most of the problems that we find with the products that we deal with go to Oracle for service. They have a good service organization 24/7.
Our organization has staff dedicated to the infrastructure. There are a lot of intricacies to setting up the products. It's useful to get professional people involved, especially with some of the more complex stacks features that you need to make the whole suite operate. As the products have evolved, they've merged more of the technologies together, so they're more dependent on making sure that you set the right parameters.
I would rate the product a nine out of ten. For what they're designed for, the tools are very useful.
Find out what your peers are saying about Oracle, Wolters Kluwer, Anaplan and others in Business Performance Management. Updated: July 2021.
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