Syntelli Solutions

Hyperion Consolidation – Integrate your System with your Financial Data

Regardless of whether an entity is public or private, closing the books and financial reporting (statutory and management) are fundamental to a firm’s existence, operations and success. The close process, which typically happens at the end of every month, quarter and year, is typically a highly charged affair for the accounting teams. These teams spend hundreds of hours scrutinizing reams of numbers, validating & negotiating with sales, finance and legal teams, and wrestling with IT teams to ensure that the systems stay up during the cycle.

The activity reaches frenzy as the SEC filing deadline looms during quarter-end or year-end for public companies. For a multi-national corporation, the complexity of the process increases exponentially as they deal with multiple currencies, varying reporting requirements by country and reconciling inter-company transactions. The net result, which varies widely for different companies, is that the close cycle stretches from a few days to few weeks with several hundred (or thousands) man-hours spent in laboriously validating and reconciling a multitude of spreadsheets.

Hyperion Consolidation Delivers Global Financial Consolidation, Reporting and Analysis

Oracle Hyperion Financial Management (HFM) is a comprehensive GAAP and IFRS compliant application that delivers global financial consolidation, reporting and analysis. HFM can be deployed quickly to integrate data from multiple transactional systems, provide top-side reporting that conforms to regulatory requirements and help organizations make the transition to IFRS. The Oracle Hyperion Financial Close Management, a related application for HFM, centralizes task management and delivers a Web-based management dashboard for the end-to-end financial close process, delivering improved visibility and predictability. Oracle Hyperion Disclosure Management, a related application for HFM, helps organizations ensure the completeness and accuracy of external and statutory financial reports, and their transformation into statutory filings using eXtensible Business Reporting Language (XBRL).

Hyperion Consolidation benefits include:

• Accelerated close and reporting cycles – Reduce closing cycles by days, deliver more timely results to internal and external stakeholders
• Improved accounting productivity – Reduce time spent on reconciling spreadsheets, internal audits etc.
• Improve transparency and compliance-Helps reduce the cost of compliance (as stipulated by the Sarbanes-Oxley Act, electronic filing, and other regulatory requirements) and support disclosure requirements, such as sustainability reporting
• Perform strategic analysis-Spend less time on manual processing and more time on value-added analysis
• Deliver a single truth-Provide a single version of the truth to support financial management and statutory reporting

Syntelli Solutions has successfully transformed revamped the close process and helped transition clients from spreadsheets to HFM. Syntelli’s value-based methodology and deep financial expertise ensures a quality Hyperion consolidation solution that delivers quick business benefits. Syntelli has experienced HFM consultants who employ best practices to design, develop and build a compelling financial management, financial reporting and analysis solution to meet regulatory and internal business needs.