What is FDMEE?
FDMEE (Oracle Hyperion Financial Data Quality Management, Enterprise Edition) is a solution that allows you to create standardized financial data management processes and validate data from any source system. FDMEE eliminates the data integrity risks associated with collecting, mapping, verifying, and moving critical financial data.
Benefits of using FDMEE:
- Increase your confidence in the numbers
- Lower the cost of compliance
- Simplify financial data collection and transformation
- Standardize with repeatable financial processes
- Deliver process transparency through audit trails
- Achieve timeliness of data with a Web-guided workflow process
- Improve the productivity of finance staff
- Support multi-GAAP reporting
With FDMEE, you can build standardized, repeatable processes, and avoid the typical inefficiencies of collecting financial data. These transparent processes give you greater assurance of clean data and accurate results:
- End-to-end automation of the collection, mapping, verification, and movement of financial data creates a standard process that eliminates variability.
- Data validations and quality checks allow you to inspect data at each step to identify errors, generate notifications, and reconcile discrepancies.
- Robust reporting provides prebuilt audit, log, system, and process management reports which can be easily amended to create user-specific versions and additional reports.
Annual audit fees can be reduced with FDMEE as tracking the movement and preparation of financial data includes:
- Instant error checking that enables you to identify errors and notify stakeholders in a timely fashion.
- Audit reviewing that tracks evaluations, gap analysis, and action plans, and lets you trace consolidated financial results back to original sources.
FDMEE also eliminates data bottlenecks and manual file manipulation by efficiently importing data from a range of financial data sources. Features that allow you to collect clean data from multiple sources include a data preparation engine that integrates, transforms, and validates data from any source system. A unique "push" integration verifies mapping and intersection, retrieves data for verification, and helps meet quality requirements of Oracle Enterprise Performance Management (EPM) target systems.
Oracle's prepackaged source adapters allow you to seamlessly link Oracle EPM applications to transaction systems, which further reduces integration costs and data mapping complexities. Oracle's EPM applications provide the following capabilities: Strategy Management, Financial Close and Reporting, Planning, Budgeting and Forecasting, Profitability and Cost Management, and Enterprise Data Governance.
The process can be configured to import standard data files or connect to source transaction systems, validate data, and export it to its final target system. Administrators can set up predefined mappings and “wildcards” for any unmapped items in the data import file or underlying transaction system. The creation of batch definitions automates as much or as little of the data loading process as you require. FDMEE also streamlines the time-consuming task of manual data reconciliation by automating and verifying data submissions:
- Complete audit trails from trial balance to report give users a transparent, intuitive view of data and processes.
- A Web-based user interface enables business users to load, review, and verify data for any target system.
- Guided workflow helps users create sophisticated data mappings and repeatable processes.
- Support for multi-GAAP (IFRS) reporting and reconciliations.
MindStream Analytics is a premier consulting and managed services provider. We help organizations acquire, implement, host, and manage strategic finance solutions including Oracle Hyperion that are designed to grow your business by bringing people, processes, and information together. Our team is made up of business and technical experts with years of experience with Enterprise Performance Management, Business Intelligence, and Advanced Analytics.
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.
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.