Oracle Hyperion Conversion
Thousands of organizations around the world are using legacy performance management application suites such as Oracle Hyperion. While these products have provided value over spreadsheets and manual approaches, their architectures can cause Finance teams to spend a large amount of their time on data integration and movement between applications, maintaining metadata in multiple systems, and managing upgrades.
These suites typically include separate products or modules for:
Financial Close and Reporting: Data Integration/Data Quality, Financial Consolidation, Financial and Management Reporting, Account Reconciliations, Disclosure Management, Tax Provisioning.
Financial Planning and Analysis: Financial Budgeting and Forecasting, Strategic Planning, Workforce Planning, Capital Asset Planning, Project Planning, Sales Planning, Profitability Management, Performance Reporting, Multidimensional Analysis, and Modeling.
As a result, data from source systems such as GL, HR, CRM, and others must be loaded into multiple databases and applications. In addition, data must be moved between applications to perform simple tasks such as actual vs. budget or forecast analysis.
Getting organizations to make the move from legacy application suites to more modern, unified CPM solutions can be challenging due to many forces. This can include a lack of leadership, lack of time, lack of resources, risk avoidance, and others. But building a solid and compelling financial business case for conversion can help get the attention of senior management and spur the entire organization to action.
Key Advantages and Benefits of OneStream
Hundreds of mid-to large-size enterprises around the world and across industries have migrated to OneStream and are seeing these advantages:
- One, unified application for financial consolidation, reporting, budgeting, planning, forecasting, analysis, and data quality
- Deep functionality and scalability that meets the more complex needs of large, sophisticated, global enterprises
- The same solution can be deployed in the cloud or on-premise
- Extensible Dimensionality enables BUs to report and plan at a lower level of granularity without impacting corporate standards
- Integrated financial data quality ensures confidence in financial and operating results
- The MarketPlaceTM delivers more solutions without adding complexity.
These advantages of OneStream translate into substantial business benefits that easily support the business case for replacing legacy applications and converting to OneStream. Examples include:
Reducing the time, effort, and cost of maintaining legacy applications
- Replace multiple legacy systems with one unified application
- Reduce costs of ownership and upgrades
- Shifts Finance staff time from admin to value-added analysis
Simplifying financial close, consolidation, and reporting
- Quickly collect, validate and integrate data from financial and operational systems, enable drill- through to transactional details
- Automate manual steps in the financial close/consolidation process
- Supports complex global consolidation and reporting requirements
Improving agility in budgeting, planning, and forecasting
- Aligns BP&F with financial close and actual reporting
- Corporate plans and forecasts linked to more detailed operating plans
- Support more agile planning such as rolling forecasts and driver-based plans
Accelerating the delivery of new applications and business insights
- A unified platform enables standardization and reuse
- MarketPlace solutions enables deployment of new applications quickly
- An extensible platform supports the rapid creation of new solution
- Accelerates business insights and enhances decision making
Migrating to OneStream Software
Unlike Oracle Hyperion, OneStream combines all financial processes using intelligent tools and processes to provide an all-in-one finance and accounting environment. Financial data quality is important to any accounting and reporting team and having all the financial aspects of a business in one environment allows for high-level reporting that can be drilled down into the lowest operational level for complete accuracy and auditable trail.
Partner SpotLight
Oracle
Oracle has the most comprehensive suite of integrated, global business applications that enable organizations to make better decisions, reduce cost
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.
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 Space 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.