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FCCS is Oracle's cloud consolidation application, and moving to it is a rebuild.
Oracle sells FCCS as the cloud replacement for HFM. Moving to it means writing the rules, the reports and the close again.
FCCS, Oracle Financial Consolidation and Close, is the consolidation application in Oracle Fusion Cloud EPM. Oracle sells FCCS on subscription, and the application is built for Oracle Cloud and runs there. Oracle offers it to groups on Hyperion Financial Management (HFM) when a renewal or a support date puts the move in the diary.
- What it includes
- FCCS comes with consolidation, currency translation, intercompany eliminations and a close task list built in.
- The move from HFM
- The metadata and the data load across through Oracle's tools. The consolidation rules, the reports and the close process are written again on the FCCS model.
- Where we sit
- Constancia is an EPM consultancy and an official partner of OneStream (EPM software). We survey the HFM application before we price a move off it.
FCCS is a subscription consolidation built for Oracle's cloud, and finance runs it with little help from IT.
Financial Consolidation and Close is a consolidation and reporting application sold on subscription and run in Oracle Cloud. Oracle builds the consolidation and close tasks into it.
Oracle sells FCCS to groups that want a fast implementation with no hardware and very little IT support. Finance runs the application, and the data centre team that looked after HFM steps back.
Oracle updates the application every month, and the customer tests each update before it goes live. The group stops planning upgrades and plans regression tests instead.
FCCS includes 6 things HFM customers built for themselves, on a model that Oracle sets.
- 01
A built dimension set
Entity, account, period, scenario, currency, intercompany, movement and data source dimensions are in the application on day 1.
- 02
Consolidation and translation
Ownership, translation at closing and average rates and the eliminations run on configurable rules with the group's percentages.
- 03
Intercompany matching
Matching and elimination by partner, with the differences reported by entity pair before the consolidation runs.
- 04
The close task list
A task manager with owners, due dates and sign-offs for each step of the close, inside the application.
- 05
Supplemental data
Schedules that do not live in a ledger, such as leases or provisions, collected inside the application from the entities.
- 06
Reporting
Financial reports and a Smart View connection to Excel, run on the consolidated numbers.
An HFM application customised over 12 years fits part of that list, and our survey finds which part.
FCCS differs from HFM in where the model comes from, since HFM was built to order and FCCS arrives ready built.
| HFM | FCCS | |
|---|---|---|
| Where it runs | On the group's own servers or a hosting partner's. | In Oracle's cloud, on a subscription. |
| The dimensions | Designed by the implementer, custom by custom. | A fixed set from Oracle, with a limited number of custom dimensions added. |
| The consolidation rules | Written in HFM's rule files, often thousands of lines after 10 years. | Configured from Oracle's options, with custom logic written again where the options run out. |
| Upgrades | A project the group schedules, every few years. | A monthly update Oracle applies, which the group tests. |
| Support | Oracle Premier Support through at least 2033 for release 11.2. | Continuous, inside the subscription. |
| The reports | Financial Reporting and Smart View books built over years. | Rebuilt in the cloud reporting tools against the new dimensions. |
| The close process | Often a workbook and an email chain outside HFM. | A task list inside the application, with owners and sign-offs. |
A move to FCCS rebuilds the rules, the reports and the close, and the data and metadata carry over.
A move from HFM to FCCS is a rebuild, because the 2 applications hold the model in different ways. The consolidation rules, the reports and the close process are written again on the fixed FCCS dimensions.
The entity list, the chart of accounts and the history move across through Oracle's loading tools. An HFM rule file can grow to 4,000 lines over 12 years, and the first task is finding the 400 that still run.
Our survey lists every rule, report and close step in the HFM application before either route is priced. The rebuild then covers what actually runs today.
An HFM estate has 2 destinations, FCCS and OneStream, and a move to either one rebuilds the rules.
Groups leaving HFM go to FCCS inside Oracle's cloud or to OneStream, which puts the close and the plan on 1 model. Both routes rebuild the rules, and neither is an upgrade.
The FCCS route suits a group whose planning already runs in Oracle's cloud and whose consolidation fits Oracle's ready-built dimensions. The OneStream route suits a group whose plan and close need to share entities, accounts and periods.
Oracle Premier Support for Hyperion 11.2 runs through at least 2033. That is the date to use in the business case for either route.
FCCS suits a multi-entity group that plans in Oracle, and OneStream suits one that wants the plan and close on 1 model.
The consolidation of a multi-entity group fits either FCCS or OneStream. A group that budgets in Oracle Planning sits close to FCCS, and a group that plans in workbooks gains most from OneStream's single model.
As an official OneStream partner, we survey the HFM application and the ERPs before we price the OneStream route. The price is then fixed on what the survey finds.
An HFM application with a product and a customer hierarchy in its custom dimensions needs the same 2 hierarchies in the plan.
Our pages on Hyperion support, the wider Oracle EPM suite and the move from HFM to OneStream go further.
Hyperion software
The support dates for Hyperion release 11.2 and the ways a group can move off it.
Read about HyperionOracle EPM software
We go through the applications in Oracle Fusion Cloud EPM 1 at a time.
Read about Oracle EPMHFM to OneStream migration
We rebuild the HFM logic on OneStream's model object by object, at a price fixed after the survey.
Read about the migration
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