Oracle HFM Archived Reviews (More than two years old)

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Consultant
Consultant at a tech services company
Nov 21 2016

What is most valuable?

One of the HFM features that isn't talked about much that is really useful to accountants is the equity pickup module. Equity pickup is an accounting process where legal entities within a company own all or portions of each other and need to pull their percentage of net income into the investment of the subsidiary. Ultimately, as data is consolidated to total company, these investment and equity entries eliminate. But they are important for reporting at each legal entity. The equity pickup module not only looks at who owns who and at what percentage, it also looks at the relationships and… more »

What needs improvement?

The module is not very appealing to technical users (not a lot of code, simple screen, etc.) but the process is a huge lifesaver for the accountants in the organization.
Vendor
Manager, Corporate Accounting at a construction company with 1,001-5,000 employees
Jul 27 2016

What is most valuable?

We picked HFM for its consolidation tools. You can do translations and multi-currency, and it handles the complicated legal structure well.

How has it helped my organization?

It has really increased efficiency. Our old system was Excel-based, and HFM has reduced our process closing timelines. HFM’s process management means that once the data is loaded, we can broadcast our statistics to the whole world, then… more »

What needs improvement?

The financial reporting tool hasn’t improved much since it was first implemented, and we are struggling with it. Financial reporting is not user friendly, and compared to Excel, there are a lot of features that it lacks. It’s hard for us to… more »

Which solution did I use previously and why did I switch?

Our previous solution was only maintained in USD. HFM can handle multi-currency, which is a benefit to us as we can load the data in different currencies and do translation in bill systems. We used to use SAP as our source for translation… more »

What other advice do I have?

I think the Oracle products are really flexible and can do a lot of stuff, but there is a cost associated with that. I would choose HFM, but there are some other products out there that can do reporting, so the choice to buy should depend… more »
Consultant
Senior Business Consultant at a consultancy with 1,001-5,000 employees
Jul 27 2016

What is most valuable?

The versatile data is probably the most valuable feature, since you can access it through the web interface or through Microsoft Office based solutions like Excel, Excel Smart View, PowerPoint and Word. You can tailor it to your needs as well. The language is great. The way that it’s scripted is not very complex so you can easily reuse the code.

What needs improvement?

Moving forward with some mobile applications would be an improvement.

What other advice do I have?

I would recommend the product. I would give it a nine out of ten, only because of some of the stability issues.
Vendor
Accounting & Planing Head at a non-tech company with 51-200 employees
Feb 28 2015

What do you think of Oracle HFM?

Valuable Features

The ability to prepare our main financial statements.

Improvements to My Organization

Decreased time spent on the preparation of main financial statements and cross checking data.

Room for Improvement

Format of tables Links between pages could be more efficient

Use of Solution

2 years

Deployment Issues

No issues with deployment.

Stability Issues

No issues with stability.

Scalability Issues

No issues with scalability.

Customer Service and Technical Support

Customer Service: 8 out of 10 Technical Support: 8 out of 10

Initial Setup

Straightforward if you follow the instructions.
Vendor
Project Manager at a financial services firm with 10,001+ employees
Feb 27 2015

What do you think of Oracle HFM?

What is most valuable?

Consolidation

How has it helped my organization?

Time saving during accounting closing periods.

For how long have I used the solution?

I've used it for five months.

What was my experience with deployment of the solution?

Yes I did have issues.

What do I think about the stability of the solution?

No issues encountered.

What do I think about the scalability of the solution?

No issues encountered.

How are customer service and technical support?

I didn't work directly with customer service.

Which solution did I use previously and why did I switch?

We did previously use a different solution, and we switched because of process improvement.

What about the

Consultant
Lead Consultant at a tech services company with 10,001+ employees
Feb 27 2015

What is most valuable?

HFM has the capability of handling consolidations end to end. It handles multi-currency translations, complex ownership calculations and inter-company eliminations and couple of other important tasks.

How has it helped my organization?

* Users were very comfortable using the product * Product has ability to handle consolidation and reporting * Can receive and club data from multi-source systems and can also handle multi-currency adjustments * Hence the close functions and… more »

What needs improvement?

Technical architecture wise it was dependent on IIS web server until 11.1.2.3.500 but Oracle dev team did eliminate this from 11.1.2.4

What other advice do I have?

HFM is a very successful consolidation tool in the market since it provides an excellent and easy to use interface and the technology behind is very powerful which helps the business to perform the consolidation activities end to end… more »

Which other solutions did I evaluate?

The other consolidation tools that are available in the market have their own limitations.
Vendor
Business Analyst with 501-1,000 employees
Feb 23 2015

What is most valuable?

The data consolidation engine is outstanding in terms of speed and functionality. The ability to code the rules used for consolidation and calculation, makes the software fit both simple and very complex consolidation structures.

How has it helped my organization?

We are able to do on-demand consolidations of our full dataset – both financial and non-financial – across more than 250 subsidiaries with different ownership structures. To run a consolidation of our full dataset takes approximately 45 seconds.

What needs improvement?

The user interface for data entry (forms) is very primitive – and lacks common Windows functionality such as copy/paste functions. We hardly use forms anymore due to end-user convenience, and have automated dataloads through system-to-system interfaces as well as data entry through Hyperion… more »

What other advice do I have?

The key to success with HFM is well coded rules – I have met many analysts working with HFM and finding the software slow and painful, which is caused by the rules not being written correctly.

What is Oracle HFM?

Oracle Hyperion Financial Management is a financial consolidation and reporting application built with advanced Web technology. It provides financial managers the ability to rapidly consolidate and report financial results, meet global regulatory requirements, reduce the cost of compliance and deliver confidence in the numbers.
Also known as
HFM
Oracle HFM customers
B&B Hotels, Goldwind, Drake & Scull