After a merger, two companies became one.  But what about their financial systems??  One legacy company used HFM, Planning and Essbase with Oracle Managed Cloud Services (OMCS), whereas the other legacy company managed their own HFM environment but used Oracle’s Planning and Budgeting Cloud Service (PBCS).  The combined company needed one new, cohesive environment managed by OMCS. Both HFM applications had disparate charts of accounts that needed to be merged, and management reporting in Essbase needed to be realigned to agree to HFM. In addition to redesigning their HFM, Planning and Essbase applications, our client also upgraded to, therefore requiring an upgrade from FDM to FDMEE.  Fortunately, all of this came together and our client deployed redesigned and upgraded HFM, Planning, Essbase and FDMEE applications in December 2016!

Project Highlights

Finit’s solution for the client includes the following features:

  • A harmonized ‘best of both’ Chart of Accounts approach with P&L aligned to the client’s primary ledger and Balance Sheet tailored to External Reporting’s needs.
  • A streamlined HFM application using custom dimensions to report by Movement (including Fx analysis on every Balance Sheet account), Management Unit, Reporting Level, Translation Method (viewing data at constant currency to eliminate the effects of currency fluctuations), and Data Type.
  • A nearly-automated cash flow process that relies on HFM rules to produce external and management cash flow.
  • A data synchronization process that moves intercompany eliminations, HFM journal adjustments, and USD overrides from HFM into Essbase.
  • A batch-loading FDMEE process to load HFM and Planning with minimal end-user interaction with FDMEE.


  • Our Client now has one chart of accounts that agrees between their HFM and Essbase applications.
  • Cash Flow and Balance Sheet results are more readily available with deeper analysis.
  • Alignment between External and Management reporting using FDMEE to move data from HFM to Essbase.
  • A more automated data loading process that reduces the risk of misstatement or error.
  • OMCS now manages all of our client’s EPM products, which simplifies and centralizes administration for our client.

Finit’s dedication to providing our client an unmatched experience led to a great success for all involved.  For more information on Finit’s Consolidation services, please contact us.

Posted By: jbulman