Building the Reports You Need From Your Oracle Essbase Data is Difficult
You’re Dependent on IT to Create and Manage Reports
Do you find that native reporting options for data on Oracle Essbase (like Smart View for Office, OBIEE, and Hyperion Financial Reporting) are unsuitable for standardized financial reporting, being error-prone, complex, and requiring high maintenance? Do you lack an easy, self-service way to access the data you need to be able to quickly answer strategic questions around product profitability after allocations, departmental budget variances, current-year actual expenses, and more? If so, it’s likely that you are unable to create the sort of complex reports you need without submitting a ticket to IT. Building a report with nested subqueries requires technical skill—but why should you need technical skills to answer finance questions?
You Spend More Time on Manual Processes Like Validation than Delivering Strategic Analysis
Manual processes (like exporting data, tracking down a cell-level error in Excel, or flipping back and forth between Hyperion Planning and Excel to validate) are consuming too much of your valuable resources and impacting your ability to analyze data and make strategic decisions. Static spreadsheets pull you away from reporting from a single source of truth with Essbase. If you spend time worrying about accuracy and fixing inconsistencies across reports, you know you’re struggling with a lack of a single-source-of-truth for your data and reporting. And successfully using a tool like Smart View requires careful upkeep to ensure you’re using the proper point of view (POV) for each worksheet and that the data has been updated for each sheet every time you want to generate the report.
You Lack an Easy Process for Gathering Commentary and Feedback
You’re responsible for a report pack for your board, but you spend days seeking timely commentary from your various cost centers and managers to help provide a narrative for your financial report pack. Emails go unanswered, and you’re left with tiresome follow-up efforts every month to be able to provide proactive responses to questions your leadership will have about each report pack. The lack of a centralized platform to prepare and aggregate this commentary costs you time.
Gain Self-Service Reporting
insightsoftware speaks multi-dimensional. The finance-focused storage and structure of Oracle Essbase data means that any effective reporting solution needs to understand financial data, its hierarchies, and its organization. Rather than relying on the query building skills of your IT team or a spreadsheet filled with macros, you can have a finance-owned solution that puts you in control of easily buildable and refreshable reports and dashboards that understand Oracle’s dimensionality. Your complex planning and budgeting questions, like product profitability, will be easier to answer with flexible reporting. With insightsoftware, you can even manage your data hierarchies without IT assistance.
Create a Single-Source-of-Truth and Deliver Next-Level Strategic Analysis
Tools like Oracle Hyperion Smart View for Office still depend on you trusting the data in a spreadsheet, going back and forth from Excel to your source data to validate, sheet by sheet, that each report will be accurate. With a direct connection to your Essbase data, you only need to source data, without the need to endlessly validate. Adding a layer of data governance and centralization will give you confidence in your numbers and reports, and the time savings will give you the opportunity to build new reports, investigate areas of the organization that you haven’t been able to dedicate as much time to, and help drive your organization toward its strategic financial goals.
Collaborate Easier and Reduce Leadership Queries
With an intuitive commentary feature, insightsoftware provides an easy-to-use platform for teams to post commentary that provides a narrative explanation for the data being presented. Not only does this help reduce efforts to collect all this feedback across the organization through email and other means, but it also heads off questions that top management would traditionally pose when they aren’t provided the context they need to understand the reports they receive.
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