How does Hyperion Planning compare Vs PBCS
Financial planning and budgeting are at the center of all business operations. It sets the strategy going forward for the next year, by allocating company assets appropriately to grow and protect the business. In the constantly evolving business environment, having a secure and flexible system in place to implement your financial plan is crucial.
Oracle offers two different solutions for planning and budgeting: Hyperion Planning as a web-based, on-premises platform and PBCS (also called Oracle Cloud EPM Planning.)
Oracle's Hyperion Planning
Oracle's Hyperion Planning is a web-based software application designed to be an on-premises solution for financial planning, budgeting, and forecasting. Based on a Deloitte study, 58% of leaders ranked security as the top 1 and 2 main priorities within their business. With an on-premises platform such as Hyperion Planning, companies can more closely monitor and control their security within the application. Hyperion Planning offers a large framework for developing financial reporting models, to provide an enterprise-wide business solution.
Oracle PBCS
Oracle PBCS (Planning and Budgeting Cloud Service) is the Hyperion Planning cloud-based system. IT leaders and executives are finding it more difficult to keep up with changes to security and technology – and are looking to move their systems to the cloud and rely on third party security firms. A cloud-based solution utilizes a third-party data warehouse to store information, instead of storing the data on site. It stays up to date with the appropriate technology and maintenance involved. A firm solely focused on security can monitor and keep the company's data secure. With a cloud-based solution Oracle PBCS can push updates over the air monthly ensuring everyone has access to the best solutions available at any given moment. This differs from Hyperion Planning's on-premises solution that requires massive upgrades every few years and requires other company resources set aside to complete the upgrade as it is such a large change all at once.
Similarities
Hyperion Planning on-premises solution and Oracle PBCS are similar their core design and features. They both offer consolidation and reporting capabilities for the full financial planning & budgeting process. The systems allow you to analyze your data by many different dimensions including account, subsidiary, department, period, scenarios, version, and other customizable fields.
Differences
Oracle PBCS comes with a large variety of pre-built modules designed based on best practices, and with the monthly updates pushed automatically to the cloud solution the company can meet the newest reporting standards.
The pre-built dashboards included with Oracle PBCS provide an instant solution for your business needs, while also providing a flexible starting point to meet the specific reporting requirements within the company. Dashboards are currently not available in the most recent version of Hyperion Planning. Automation is another key feature only included in the Oracle PBCS solution. Automate many tasks such as loading data and running business rules that perform calculations such as aggregating data or performing an allocation based on key metrics. Oracle Cloud EPM offers a cross-product navigation which allows Oracle PBCS to connect with other Cloud EPM offerings to be able to run a business process across all products for a single task.
Studies show that in 2020 more than 50% of organizations switched to the cloud. While Hyperion Planning offers a solid solution for an on-premises planning and budgeting software application Oracle PBCS is the future of financial planning and budgeting. As cloud software becomes more easily available and offering many more capabilities and able to stay up to date to adapt to the times, a cloud solution has been a clear move for many businesses.
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