Oracle® Hyperion Financial Close Management

New Features

Release 11.1.2.2


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Authors: EPM Information Development Team

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Table of Contents:

Features Introduced in Release 11.1.2.2

Features Introduced in Release 11.1.2.1.103

Features Introduced in Release 11.1.2.1.102

Features Introduced in Release 11.1.2.1.101

Features Introduced in Release 11.1.2.1

Features Introduced in Release 11.1.2.2

Hosted Online Help

Online Help content for Oracle Enterprise Performance Management System products is served from a central Oracle download location, which reduces the download and installation time for Oracle Enterprise Performance Management System. You can also install and configure online Help to run locally. For more information, see the Oracle Enterprise Performance Management System Installation and Configuration Guide.

About Financial Close Management

Oracle Hyperion Financial Close Management provides a flexible integration framework that allows end users to leverage services from external applications as part of the close calendar. The integration framework is built around industry standards and supports web-based interactive tasks, Web Services based automated tasks, and external systems event monitoring. With this release, Financial Close Management has two modules: Close Manager and Account Reconciliation Manager.

Close Manager

Close Manager helps companies define, execute, and report on the interdependent activities of a financial close period. It provides centralized monitoring of all close process tasks and provides a visible, automated, repeatable system of record for running close processes.

Functionality includes:

  • Defining the close tasks and schedule to ensure the correct flow of tasks

  • Automating the management of the close to track the status of close tasks and provide notifications and alerts

  • Integration with product tasks

  • End user notifications

  • Monitoring the overall close status from a central dashboard

  • Acting on errors or delays with close tasks

  • Analyzing the effectiveness of the close

With this release, Close Manager added the following features:

  • Configurable File Upload Limits–Allows Administrators to set the maximum upload file size, in increments from 5 MB to 100 MB.

  • Bulk Reassignments Within Schedules–Allows a schedule owner to replace one user with another across all Pending tasks. The schedule owner can restrict the reassignment between dates within the schedule.

  • Event Monitoring Integration Type–Allows you to test and validate Event Monitoring Integration Type definitions before you create and execute tasks.

  • Minimum Task Duration–Introduces a new “At Risk” status which highlights tasks that have not started and are expected to take longer to complete than the remaining time to their due date.

  • Multiple Schedule Selection on Dashboard Reports–Allows users to select any number of schedules within the dashboard controls; for example: My Worklist, Schedule Tasks, and Status Chart.

  • Multiple Selection on Manage dialogs, Gantt, and Task List Views–Close Manager users can select multiple records to perform actions on the selected records, for example: delete, validate, or export.

  • Parent Task Navigation Within Predecessor and Successor Views–The Related Tasks tab shows the children in the Predecessor panel and the parent in the Successor panel.

Account Reconciliation Manager

Account Reconciliation Manager provides customers with the ability to manage global account reconciliation processes including balance sheet reconciliations, consolidation system reconciliations, local GAAP reconciliations, or any other reconciliation process in effect.

Key deliverables include:

  • Comprehensive tracking of unlimited numbers of reconciliations, including reconciliations of accounts in non-Oracle systems

  • Structured formats to guide preparation and ensure high quality reconciliations. This includes the ability to configure formats to the unique requirements of each type of account

  • Email notifications for status changes, upcoming due dates, and delinquencies

  • Approval and rejection capabilities with unlimited levels of review

  • Process optimization, including risk-based scheduling capabilities, auto reconciliation, and automated aging analysis

  • Dashboard reporting

Features Introduced in Release 11.1.2.1.103

Financial Close Management Validation Tool

Financial Close Management Validation Tool scans the system configuration settings needed for successful functioning of Financial Close Management.

It is recommended to run Financial Close Management Validation Tool once you complete the installation and configuration steps to test that the components for Financial Close Management are correctly deployed and configured. For more information, see the Oracle Enterprise Performance Management System Installation and Configuration Guide.

Features Introduced in Release 11.1.2.1.102

Event Monitoring Integration

Event Monitoring allows Financial Close Management to passively monitor processes within other applications which utilize business event notifications. Financial Close Management can leverage the receipt of the event notifications to drive further action within the close process. Within Financial Close Management, the user would create a task which contains the specific notification details. They would enter the estimated time frame in which they expect the notification to be received. Once the task is open, Financial Close Management will wait for the specific event notification. After the notification is received, the task will be updated with the notification details and marked complete. With the incorporation of event monitors, Financial Close Management can incorporate activities that are being initiated within other systems and leverage those activities within the larger closing process.

For example, Company A wants to monitor the closing of the US general ledger within their ERP system. Their ERP system has been configured to send out a business event notification when their general ledgers are closed. Within their closing schedule, the schedule owner has set up an event monitor task to wait for the event notification for the closing of the US general ledger. When the US GL is closed within the ERP, an event notification is issued. Oracle Hyperion Financial Close Management identifies the notification for the US general ledger and marks the schedule task complete.

Updatable Attributes

This release includes a new custom attribute type that allows the assignee or approver to update the attribute value.

Date and Time Attribute Type

Date and Time is a new attribute type that you can use to update date and time values. This attribute type provides a date and time icon on the attribute. When you click on the icon, a popup dialog opens and by default, displays the end-user’s current date and time (localized to their time zone). You can then set the attribute to any date and time. If the attribute has already been set, the dialog displays the specified value.

Updatable by User Attribute Option

When the attribute is assigned to a task or task type, a new option is presented: Updatable by User. When you select this checkbox, the system displays a list of options that determine which task roles can update the attribute value and if the attribute value is required. The attribute is inherited similarly to other attribute types. If set for a task type, the task inherits the attribute.

Updatable by User Role

When the task attribute is applied to a task or task type, the administrator can determine which user role can update the attribute value. The administrator can select the attribute to be set by the Assignee, Approver, or both. By default the Assignee option is selected. You must select at least one role, or an error occurs.

If the task does not have an approver defined on the task, the approver dialog box does not display.

If the Assignee option is not selected, the attribute will display as Read-only to the assignee within the task action dialog. If the Approver option is not selected, the attribute will display as Read-only to the approver within the task action dialog.

The task owner should see the attribute in the same state as the assignee or approver would, given the task’s current state. For example, if the task is with the approver and the attribute is updatable by only the assignee, the task owner would also see the attribute as Read-only.

If the task is restarted, the attribute values revert to the original attribute values when the task opened. If the attribute did not have any value when the task was opened, any attribute value is cleared. If the attribute value was originally set to “Low” and the Assignee or Approver changed it to “High”, upon restart, the attribute value would revert to “Low.

Updates to the task action values are recorded in the Task History tab and viewable to end users. If the task owner updates the values, it is recorded in the Task History under their ID.

Attribute Required Values

The administrator may set this attribute to require a value to be set. If required and updatable by the assignee, the assignee must enter a value prior to submitting the task to the approver. If required and updatable by the approver, the attribute value must be set prior to the approver approving the task. If there are multiple approvers, the first approver must have the attribute value set. Subsequent approvers can update the attribute. The Assignee can submit the task with the attribute value blank.

Example 1 – Reporting Task Execution Details

For example, you could design all of your tasks to include two attributes: “Start Time” and “End Time”. As an administrator, for the “Start Time” attribute, you could configure the tasks so that only the Assignee can enter this attribute value and it is required data. For the “End Time” attribute, you configure the tasks so that only the Approver can enter this attribute value and it is also required data.

The closing schedule starts and Task A has been assigned to Assignee A. She opens the task and performs all required aspects of the task. She tries to submit the task, but the submit button is not enabled. She remembers that she must enter the time and date that she began to work on this task within the “Start Time” attribute. She clicks on the icon next to the attribute value and a popup dialog displays the current date and time. She changes it to show her task Start date and time. She can then submit the task for approval. She notes that the “End Time” attribute is not set and is Read-only.

The Approver receives a notification that Task A is awaiting her approval. She opens the task and reviews all of the information. She notes the “Start Time” entered by the Assignee. The “End Time” attribute is enabled and she enters the current date and time by simply clicking on the icon and then clicking OK. She submits the task for further review to Approver B.

Approver B receives a notification that Task A is awaiting her approval. She reviews the task details including the start and end times entered by the Assignee and Approver A. She approves the task.

Example 2 – Updating Attribute Values

In another example, a Close User has been assigned an analysis task within her company’s close. One of the attributes set on all the tasks is an attribute used to grade the risk rating of the task. By default, the majority of the tasks are set to a “Neutral” risk rating. As the assignee performs the task, she determines that this analysis task has uncovered a potentially high risk item and should be escalated to “High”. She resets the attribute to “High” from the custom list on the attribute and when complete, submits the task for approval.

The Approver reviews the submitted task details and notes in the comment section that while there is a potential risk, it is very unlikely to occur. She resets the attribute value to “Neutral” and approves the task.

Features Introduced in Release 11.1.2.1.101

Date and Time Attribute Type

Date and Time is a new attribute type that you can use to update date and time values. This attribute type provides a date and time icon on the attribute. When you click on the icon, a popup dialog opens and by default, displays the end-user’s current date and time (localized to their time zone). You can then set the attribute to any date and time. If the attribute has already been set, the dialog displays the specified value.

Updatable by User Attribute Option

When the attribute is assigned to a task or task type, a new option is presented: Updatable by User. When you select this checkbox, the system displays a list of options that determine which task roles can update the attribute value and if the attribute value is required. The attribute is inherited similarly to other attribute types. If set for a task type, the task inherits the attribute.

Updatable by User Role

When the task attribute is applied to a task or task type, the administrator can determine which user role can update the attribute value. The administrator can select the attribute to be set by the Assignee, Approver, or both. By default the Assignee option is selected. You must select at least one role, or an error occurs.

If the task does not have an approver defined on the task, the approver dialog box does not display.

If the Assignee option is not selected, the attribute will display as Read-only to the assignee within the task action dialog. If the Approver option is not selected, the attribute will display as Read-only to the approver within the task action dialog.

The task owner should see the attribute in the same state as the assignee or approver would, given the task’s current state. For example, if the task is with the approver and the attribute is updatable by only the assignee, the task owner would also see the attribute as Read-only.

If the task is restarted, the attribute values revert to the original attribute values when the task opened. If the attribute did not have any value when the task was opened, any attribute value is cleared. If the attribute value was originally set to “Low” and the Assignee or Approver changed it to “High”, upon restart, the attribute value would revert to “Low.

Updates to the task action values are recorded in the Task History tab and viewable to end users. If the task owner updates the values, it is recorded in the Task History under their ID.

Attribute Required Values

The administrator may set this attribute to require a value to be set. If required and updatable by the assignee, the assignee must enter a value prior to submitting the task to the approver. If required and updatable by the approver, the attribute value must be set prior to the approver approving the task. If there are multiple approvers, the first approver must have the attribute value set. Subsequent approvers can update the attribute. The Assignee can submit the task with the attribute value blank.

Example 1 – Reporting Task Execution Details

For example, you could design all of your tasks to include two attributes: “Start Time” and “End Time”. As an administrator, for the “Start Time” attribute, you could configure the tasks so that only the Assignee can enter this attribute value and it is required data. For the “End Time” attribute, you configure the tasks so that only the Approver can enter this attribute value and it is also required data.

The closing schedule starts and Task A has been assigned to Assignee A. She opens the task and performs all required aspects of the task. She tries to submit the task, but the submit button is not enabled. She remembers that she must enter the time and date that she began to work on this task within the “Start Time” attribute. She clicks on the icon next to the attribute value and a popup dialog displays the current date and time. She changes it to show her task Start date and time. She can then submit the task for approval. She notes that the “End Time” attribute is not set and is Read-only.

The Approver receives a notification that Task A is awaiting her approval. She opens the task and reviews all of the information. She notes the “Start Time” entered by the Assignee. The “End Time” attribute is enabled and she enters the current date and time by simply clicking on the icon and then clicking OK. She submits the task for further review to Approver B.

Approver B receives a notification that Task A is awaiting her approval. She reviews the task details including the start and end times entered by the Assignee and Approver A. She approves the task.

Example 2 – Updating Attribute Values

In another example, a Close User has been assigned an analysis task within her company’s close. One of the attributes set on all the tasks is an attribute used to grade the risk rating of the task. By default, the majority of the tasks are set to a “Neutral” risk rating. As the assignee performs the task, she determines that this analysis task has uncovered a potentially high risk item and should be escalated to “High”. She resets the attribute to “High” from the custom list on the attribute and when complete, submits the task for approval.

The Approver reviews the submitted task details and notes in the comment section that while there is a potential risk, it is very unlikely to occur. She resets the attribute value to “Neutral” and approves the task.

Features Introduced in Release 11.1.2.1

Expanded Database and Platform Support

The release 11.1.2.1 added support for Microsoft SQL Server database. In addition, it includes expanded operating system support for Microsoft Windows 64-bit versions, and Red Hat and Oracle Enterprise Linux versions.

Flat File Load Options

Multiple options are available for loading tasks into a template or schedule. You can replace some existing tasks, replace all tasks, or update partial task information. In addition, task types have replace and update options.

Authorization for System-Automated Tasks

To preserve security, you may require authorization for system-automated tasks if you change the runtime user, or if task parameters are modified by a user other than the task owner. An administrator who knows the credentials of the runtime user can perform the authorization, or issue a request to the user to obtain authorization. A user who receives a request for authorization can access the Authorization dialog either from a link in the email sent by the administrator, or by logging on to the application.

Integration Type Enhancements

Integration Type enhancements include:

  • Ability to specify application-level settings that are common across all Integration Types of the same application

  • Ability to edit application security settings and parameters

  • Ability to export Integration Type XML files

  • Ability to test and validate the Integration Type definition in the UI without creating and executing tasks

  • Support for additional application security policies

  • Additional fields for Synchronous and Asynchonous Web Service processes

  • New Task Information parameter type

Enhancements to Task Design and Execution

These enhancements include:

  • Ability to reopen tasks

  • Support for number formats in custom attributes, including currency

  • Ability to specify whether custom attributes display on Task Actions or Report Binders

  • Ability to import tasks to schedules as well as templates

Report Binder Options

The Report Binders output format has been redesigned to be more printer-friendly. The report pages are merged into a single HTML page, with page breaks for sections as required, so that the entire report can be printed with a single print command.

Large Schedule Enhancement

You can create schedules with a maximum of 2000 tasks.

Support for Lifecycle Management

Using Oracle Hyperion Enterprise Performance Management System Lifecycle Management, you can migrate applications from one environment to another. For example, you can move applications through a staged development cycle of Development, Test, and Production.

Smart View Outlook Task Integration

You can view and work with your Financial Close Management tasks as tasks in Microsoft Outlook. Using Outlook tasks, you can answer questions, add comments and attachments, and submit, approve, and reject tasks.

Integration with Oracle PeopleSoft Enterprise Financials

The release 11.1.2.1 added the availability of Integration Types as XML files for Oracle PeopleSoft Enterprise Financials 9.0 and 9.1.

Integration with Oracle Governance, Risk and Compliance

Integration Types are available as XML files for Oracle Governance, Risk and Compliance (GRC).