Hyperion boosts data performance with Financial Data Quality Management

Hyperion, distributed locally by Intellient, has released Hyperion System 9 Financial Data Quality Management, a packaged solution for finance users to develop standardised financial data management processes.

Designed with a Web-based guided workflow user interface, the solution increases organisational confidence in financial data, simplifies data collection and transformation, improves finance staff productivity and lowers compliance costs.

"Companies face tighter financial statement deadlines and rising costs in meeting compliance requirements," says Kathleen Wilhide, research director for compliance and business performance management solutions at independent research firm IDC. "There is a need for greater transparency in financial and compliance processes that makes the delivery of tools for integrating information and ensuring data quality critical. Hyperion System 9 Financial Data Management delivers the goods."

With the option to allow companies to push consolidated results to their existing tax preparation application, thereby reducing the time and money frequently spent on largely manual, error-prone processes, Hyperion System 9 Financial Data Quality Management applies automation, data validation and robust reporting to create transparent data and processes.

A data preparation engine makes it possible to integrate, transform and validate data from any source system, while the solution`s "push" integration verifies mapping and intersection, retrieves data for verification and helps meet quality requirements of target systems.

"Hyperion System 9 Financial Data Quality Management is an organisation-wide solution for managing financial data quality," says Marc Scheepbouwer, MD of Intellient, the local distributor of Hyperion in southern Africa. "For our customers, this translates into complete confidence in their numbers and a total cost of ownership advantage in their financial data integration and compliance processes. The solution`s full integration with other Hyperion System 9 solutions further reduces costs and decreases data mapping complexities. Additional functionality such as instant error checking, audit validation, automatic archival and closing lowers compliance-related costs."

The solution expands on the core foundation layer of Hyperion System 9 and will support the full suite of Hyperion products through its business performance management adapters. Coupled with the Hyperion Master Data Management (MDM) solution, it offers an overall data management strategy in which financial and analytical data quality is addressed and master data consistently managed.

Hyperion System 9 Financial Data Quality Management`s Web-based guided workflow user interface enables creation of sophisticated data mapping and repeatable processes. Importing data from any financial data source, the solution simplifies financial data collection and transformation and eliminates data bottlenecks and manual file manipulation.

Other capabilities enabled by the solution include streamlining manual data reconciliation processes by automating and verifying data submissions, and ensuring transparent and intuitive views of data and processes using audit trails. The tax data integration option of the solution streamlines the tax data collection process by eliminating manual efforts, providing visibility to data transformation and identifying and communicating errors before they become a problem.

"Hyperion System 9 Financial Data Quality Management integrates with any source in any format and is designed specifically to address business performance management data quality," Scheepbouwer says. "As a result, the solution delivers the flexibility to adjust to changing business conditions, particularly those associated with mergers and acquisitions, or situations that require moving data from application to application on the Hyperion Business Management platform. While the solution, which is deployed, maintained and used by business analysts rather than database administrators, frees IT departments to focus on technology, it also enables the finance organisation to eliminate data integrity risks associated with collecting, mapping, validating and moving critical financial data across the business."