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CheckPoint Consulting Blog

New Financial Reporting Web Studio and end of life for Web Analysis

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Since 2002 corporate reporting functions have been challenged continuously. None of us have been excused from increased controls and requirements on the content that businesses report to our stakeholders. If organizations are to deliver rapid and accurate financial close data they need to be able to control and improve the entire ‘extended’ financial close process. Top organizations recognize that the ‘close’ actually begins with sub ledgers and ends with the transfer of statutory filings; therefore are adopting integrated financial close solutions that address this whole process.

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Historically, there were a lot of reasons why Essbase applications were BSO, but now ASO is the heavy lifter - with quicker data loads, instant aggregations, faster calcs, greater dimension allowance and lengthier dimensions. With CheckPoint Consulting’s starter syntax map, make the leap from BSO to ASO easy.

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We’ve seen remarkable change in the last two years. For example, 2015 was a record year for mergers and acquisitions. Altogether M&A volume hit an all-time high of over $5 trillion, surpassing 2007’s record of $4.6 trillion. 

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Earlier this month in Part 1 of this blog topic we concentrated on how to setup the FDMEE application to get ready to load Journals to HFM. Now in Part 2 we will walk through the steps to download a Journal Template, entering adjustments and processing the journal into HFM.

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Many organizations need to make Journal Entries to adjust Trial Balance and Supplemental account balances that are loaded into Financial Management (HFM). One way to accomplish this is to utilize FDMEE’s Journal Templates. These templates are Microsoft Excel spreadsheets that are formatted to allow adjustments to Entities and Accounts for specific Periods. Here in Part 1, we will concentrate on how to setup the FDMEE application to get ready to load Journals to HFM.

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Since the release of HFM 11.1.2.4, and its change in architecture, many of the utilities that HFM administrators had come to know and love were deprecated from the product. One of the most popular of these utilities was the standalone Copy Application utility. This utility allowed you to do a direct, DB level copy of an HFM application from one environment to another, regardless of the version (you could upgrade the application after the copy) and DB type (in the most recent versions of the utility). It copied all application table contents between the environments, without a need to reload or re-consolidate data. All you needed were two UDLs created on the server that contained the utility, one pointing to the source HFM DB server and one pointing to the destination HFM DB server.

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Our Enterprise Performance Management landscapes are changing. With an increased emphasis on efficiency, reporting and a new found stress on the information technology industry, being a project implementation leader today is very different than being one in 2006. With the changes in the industry, it’s easy to lose track of how the product has changed significantly over the years.

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Running a business of any size has many challenges and rewards. When we founded CheckPoint Consulting ten years ago, the market that we served and the general business landscape looked very different than it does today. As we were building the company we experienced the explosive growth of social media, the economic meltdown in 2008, the advent of big data, the ever-increasing demand for cloud-based solutions and many more factors that dramatically changed our service portfolio and also how we ran the company. While, as a growing consultancy, we experienced these challenges and opportunities in our own way, we reminded ourselves that our customers were also experiencing them. This awareness is at the core of our success – we understand that how we experience the market impacts the solutions we provide to our customers.

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As I approach my ten year work anniversary with CheckPoint, I begin to ponder on the various reasons why the organization has been so successful and taken to new heights year over year. While taking a hard look at my surroundings, I developed a top three list of components that helped define our success.

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