Financial Reporting Studio
Financial Reporting Studio is a powerful tool for designing and displaying analytic data.
A user can leverage this tool to create typical financial reports such as a P&L or balance sheet, or they can use it to create reports with nontraditional formats, depending on their business needs. FR Studio goes hand in hand with Oracle Hyperion Planning and Oracle PBCS (Planning and Budgeting Cloud Service), which are dynamic, multidimensional applications that businesses use for planning and budgeting.
When building a report in FR Studio, the user can design a grid by assigning dimensions from these applications to the columns, rows, pages, or point of view, and then selecting which members from each dimension they want to display where. Ultimately, the report pulls the data from the intersections specified by the user, and there is no need for manual input or calculation. This alone has a significant impact on efficiency.
Financial Reporting Studio also offers a degree of dynamicity that Excel does not:
- Page Selection: In the grid layout a user can choose to put a dimension in Pages, and then they can specify which members from that dimension they want to include in the page selector. In the report they will then be able to choose between these members in a dropdown list and the report will display data according to the selection.
- Point of View Selection: Point of view is similar to Page Selection, except users can pick between any member of the dimension, and the selection appears in a box rather than a dropdown menu.
- Ability to Drill In: A user can set members to be drillable, meaning that by double clicking on them a user will be able to see that member expanded to show all of its children. This allows for much more granularity in reporting than is offered in Excel.
- Substitution Variables: By using substitution variables in reports users avoid having to re-create the report when the value of a variable changes. For example, if a user has to create a quarterly report they can set Period to a substitution variable for quarter rather than to a specific quarter, and the value of the quarter will automatically update as we move between quarters.
- Functions: There are a variety of functions in FR that make it both more dynamic and easier to set up than an Excel workbook. For example, you can use the "Children of" function to include all of the children of a member rather than setting up a row or column for each of these members individually. The report will only display what the children of the member are at the time, so if you later add or delete children those changes will be reflected in the report.
MindStream Analytics is a leading consulting and managed services firm focused on providing Business Analytics solutions to organizations. The team at MindStream has years of experience delivering innovative solutions to maximize and provide efficiency to an organizations strategic, operational and financial management processes. MindStream Analytics can help you learn more about Oracle Hyperion Planning and PBCS and its full scope of capabilities. Our consultants have a long top notch standing within the Hyperion community including the Oracle Application User Group's (OAUG) and Hyperion Special Interest Group (SIG).
Partner SpotLight
Board
BOARD provides a seamless software solution for the support, control and management of core processes such as Reporting and Analyses; Budgeting, Planning, Forecasting; Profitability Modeling and Optimization; Simulation and What-if Analysis; Scorecarding; Financial Consolidation; Statutory and Financial Reporting; Monitoring and Auditing.
Our Company
MindStream Analytics' senior staff was there at the birth of Business Intelligence. We have been part of building Business Intelligence nationally from its humble niche product status to the ubiquitous analytic tool that it is today. MindStream consultants are well versed in reporting and information management and are ready to help you leverage the power of multiple tier-1vendors. From Oracle Hyperion to IBM Cognos, we can help you select and integrate the right tools for you to better understand your information. MindStream Analytics has experience across a wide variety of industries: Business Services, Consumer Products, Energy, Financial Services, Healthcare, Manufacturing, Transportation , and Telecommunication. We have the depth and breadth of experience to help you deliver actionable information to users.
Whether you need an enterprise wide Oracle BI Enterprise Edition (OBIEE) rollout, an Oracle BI Apps rollout, or an IBM Cognos ReportNet rollout, MindStream Analytics is here to help you succeed.
Case Studies
Accumen
Thanks to the intervention of MindStream Analytics, Accumen's Finance department can now model their business with a new, more organized structure that isn't conventionally available in NetSuite.
Acme Brick
Acme Brick turned to MindStream Analytics for help implementing OneStream to replace their outdated TM1 solution.
Alterra
Alterra sought the expertise of MindStream to address the challenges they faced in their Capital Planning process.
ATCO Group
Energy conglomerate ATCO operates worldwide in utilities, power generation, and related services.
Avalon
Working with MindStream Analytics, Avalon Healthcare Solutions adopts NetSuite Planning and Budgeting to accelerate budgeting and forecasting processes.
Bayer Health Care
Bayer Healthcare implemented Hyperion Planning and Workforce Planning in 10 weeks to dramatically streamline their Income Statement budget and Workforce Planning process..
BluEarth
MindStream Analytics' partnership with BluEarth Renewables epitomizes the power of technology and collaboration.
Celgene
An Oracle Hyperion Planning Upgrade provides multi-national organization Hyperion Application optimization and stabilization.
Cleaver Brooks
OneStream XF was chosen as the platform that would transform Cleaver-Brooks' Finance processes.
CoorsTek
The collaboration between CoorsTek and MindStream resulted in significant improvements in CoorsTek's financial consolidation and reporting processes.
Elite Body Sculpture
MindStream Analytics' collaboration with Elite Body Sculpture encapsulates the transformative potential of targeted tech solutions in streamlining administrative processes.
Enlyte
Enlyte, a merger of Mitchell, Genex, and Coventry, faced challenges with disparate financial solutions and the need for combined reporting.
Flanders
MindStream Analytics collaborated with Flanders to implement OneStream Consolidation and Reporting solution.
Foley Products
Foley Products was facing a significant challenge with its Excel-based actual management reporting system.
Harte Hanks
The collaboration between MindStream Analytics and Harte Hanks culminated in a highly customized, user-friendly NetSuite implementation.
Interface
Interface used a complex, manual, excel-based FP&A process for monthly review, and the summary data was loaded in OneStream.
Kymera International
Thanks to Mindstream Analytics' assistance, Kymera was able to load all of their data into OneStream and validate it successfully.
MacLean Fogg
MacLean-Fogg partnered with MindStream, a leading implementor specializing in modernizing and optimizing enterprise systems.
MEPPI
MindStream's expertise and experience were sought to conduct a vendor selection initiative focusing on MEPPI's F2023 planning process.
OUAI
MindStream Analytics and OUAI's collaboration showcases the transformative power of strategic technological intervention.
Plaskolite
By migrating to OneStream, Plaskolite has achieved a material reduction in consolidation time and overall Financial Close cycle, eliminated the hours spent compiling and verifying data in Excel, streamlined its Planning, Budgeting and Forecasting model and delivered flexible and timely reporting that enables more strategic analysis of their financial data.
Redwire
Understanding the nuances of Redwire's challenges, MindStream Analytics devised a holistic approach to overcome them. The implementation of NetSuite was just the beginning.
Simon
Simon's existing corporate Hyperion Financial Management (HFM) production application was consolidating at a rate of seven hours, a performance issue causing great headache to corporate Accounting.
Source Code
The successful transition to OneStream revolutionized Source Code's financial reporting.
Subway
Subway collaborated with MindStream Analytics for the NetSuite Analytics Warehouse implementation.
UPenn
MindStream Consulting and AppCare team members are proud be working side by side with UPenn university in accomplishing this implementation and along with continuing our AppCare services after go-live.
USG
USG was an Oracle Hyperion customer realizing that it needed more specialized support for its various Oracle Hyperion applications.
Vantiv
Dividing a hyperion planning application, expanding the hyperion footprint to forecast on the business? Customer categories.
Versant Health
Versant Health engaged MindStream to help resolve the challenges they were experiencing with their consolidation, close, and financial reporting processes.
Virginia Spaceport Authority
The MindStream team implemented the Standard + Workforce NetSuite Planning & Budgeting.
WeWork
MindStream Analytics determined that the best solution was to implement Oracle Essbase Cloud as part of the Oracle Analytics Cloud (OAC) platform-as-a-service
WindStream
Innovative use of essbase to streamline and connect hyperion financial management for enhanced financial analysis.
XY Planning
MindStream Analytics, well-versed in addressing such challenges, presented a comprehensive Netsuite solution for XY Planning.