11 Key EPM / NSPB Updates – Aug and Sep 2023
The Pivot2 team have compiled a list of some of the most useful updates to be included over the last two months, that could specifically help your business process.
Please reach out for a chat by contacting us here if you would like any further information.
SUMMARY
DATA INTEGRATION
1. File Application Support in Data Integration
DATA INTEGRATION PIPELINE
2. New Job Types in Data Integration Pipeline
3. New Continue and Stop Pipeline Execution Options
SMART VIEW
4. Updated EPM Books Extension and Narrative Reporting Extension for Smart View
TASK MANAGER
5. Task Manager Enhancements for Data Exchange Integration Type and Task Type for Remote Account Reconciliation Connection.
6. Run Data Integration Type and Task Type in Task Manager
7. View Ever Been Late Tasks
ORACLE GENERAL
8. Access Control Update.
9. Plan to Discontinue Support for Non-Redwood Experience Themes.
PLANNING
10. Planning Update - Support for Calendars and Events in Predictive Planning.
11. IPM Insights Enhancements
DATA INTEGRATION
File Application Support in Data Integration
Now, in Data Integration, you can easily register files as data sources within the Applications section. This feature is a game-changer, allowing business users to import data from file-based sources with minimal technical help.
Business Benefits:
Finance users can now independently import financial data from various sources, such as spreadsheets or text files, directly into their financial applications. For instance, during the quarterly reporting process, finance teams can quickly upload data from external auditors' spreadsheets without waiting for IT support. This expedites financial reporting cycles, reduces errors, and empowers finance teams with real-time data insights for informed decision-making.
DATA INTEGRATION PIPELINE
New Job Types in Data Integration Pipeline:
The Data Integration Pipeline now introduces new job types to bolster its capabilities, such as the "Clear Cube" and "EPM Platform Job" types.
Business Benefits:
For finance teams, the "Clear Cube" job type allows targeted removal of specific data within cubes. This is valuable when, for instance, historical data from a previous fiscal year needs to be purged while retaining the structure of the cube. Additionally, the "EPM Platform Job" type lets finance users automate data maintenance tasks, such as updating exchange rates or recalculating allocation formulas, ensuring financial data accuracy and compliance.
New Continue and Stop Pipeline Execution Options
When running a Pipeline, you now have options to continue or stop the processing of a stage when a step in a stage fails.
Use the “On Success” option to continue processing a stage when steps in the Pipeline definition are executed successfully. You can also skip a stage in the case where you want to bypass a stage that is only executed on failure and proceed to the following stage.
Use the On Failure option to continue or stop processing a stage when a step in a stage fails. You can either continue processing the subsequent steps in the stage or stop processing the current stage, and skip to perform any cleanup step.
Business Benefit:
The "On Success" and "On Failure" pipeline execution options offer users significant advantages and ability to stop processing when a step in a stage fails or continue to the next stage. They can ensure uninterrupted data processing on success, leading to accurate financial planning. When a step fails, the options allow for efficient error handling and cleanup, reducing disruptions and enhancing data integrity. Overall, these options streamline financial operations and support better decision-making.
SMART VIEW
Updated EPM Books Extension and Narrative Reporting Extension for Smart View
Member Selection Enhancements:
Now, when editing the POV for an imported or exported Book in Excel using the Smart View EPM Books extension, you can choose members using the Member Selection dialog if the Book designer has enabled member selection for one or more POV dimensions.
When a Book's POV setting is set to "Allow All Selections", you can access the Member Selection dialog and choose any member in the dimension.
Business Benefits:
Users using Smart View can now swiftly adjust the Point of View (POV) for imported or exported Books in Excel. For example, during budget reviews, financial analysts can easily switch between different departments or product lines within Excel without navigating complex interfaces. This empowers finance teams to perform quick, ad-hoc analyses and compare scenarios effortlessly.
TASK MANAGER
Task Manager Enhancements for Data Exchange Integration Type and Task Type for Remote Account Reconciliation Connection.
Task Manager now supports the Data Exchange integration and task type for remote Account Reconciliation connections in FCCS, Planning, Planning Modules, and Tax Reporting. It allows you to streamline the data exchange integration tasks with monthly close process.
Business Benefits:
Finance departments can now automate complex data exchange processes directly from Task Manager. For example, when reconciling financial data between subsidiary and parent entities, finance teams can schedule automated data exchanges through Task Manager, reducing manual effort and ensuring data accuracy for timely financial consolidations.
Run Data Integration Type and Task Type in Task Manager
Task Manager now presents the "Run Data Integration" type, allowing seamless execution of integration or data load rules.
Business Benefits:
Finance users can easily integrate Data Exchange-defined data loads into their monthly processing schedule. For instance, when incorporating external data sources, such as market trends or economic indicators, into financial forecasts, finance teams can ensure that these updates are consistently integrated into their planning cycle, resulting in more accurate predictions and better-informed decisions.
View Ever Been Late Tasks
The Task Manager now includes a helpful feature called "Ever Been Late." This feature automatically tells you if a task has missed its scheduled due date in the past, even if it's currently on track. If the person responsible for the task or an approver has been late with their part of the work, the "Ever Been Late" indicator is set to "Yes."
Business Benefit:
The Ever Been Late attribute allows users better visibility into task execution by easily identifying the tasks which missed scheduled due dates.
ORACLE GENERAL
Access Control Update
Starting with this monthly update, generating the Role Assignment Report or the Provision Report will refresh user information in Access Control screens and reports. This means that when you assign users to predefined roles and then generate the Role Assignment Report using various methods (EPM Automate command, REST API, or Access Control), the user list displayed in Access Control screens will now reflect the most up-to-date information available in your identity domain. This includes any new users and changes in role assignments. Furthermore, Access Control data will be refreshed to remove deactivated and deleted users.
Business Benefit:
System Admin or Finance managers responsible for granting access to financial systems can now rely on current user information when assigning roles. For instance, during audits, finance teams can generate accurate Role Assignment Reports, reflecting the most recent user access details. This enhances data security and compliance by ensuring that only authorised personnel have access to sensitive financial data.
Plan to Discontinue Support for Non-Redwood Experience Themes
Oracle's Redwood UX Design has gained wide adoption, and future innovations are targeted for the Redwood Theme exclusively.
In an update planned for the second quarter of 2024, Oracle will automatically migrate environments that are still on Classic environments to use the Redwood Experience.
Business Benefits:
By adopting the Redwood Theme, finance users benefit from a consistent and modern user experience, such as when they are navigating financial dashboards or generating reports. Finance teams can also customise the Redwood Theme to include their company logo and tailor the interface to align with their branding. Furthermore, by embracing the Redwood Theme, finance users gain access to the latest platform innovations, ensuring they remain at the forefront of user experience enhancements.
PLANNING
Planning Update - Support for Calendars and Events in Predictive Planning
Now, when defining IPM insights, Auto Predict predictions, and running Predictive Planning from web forms, you have the capability to specify a calendar and events to associate with your predictions. These events can be one-off or recurring occurrences historically linked to data spikes or declines. By factoring in these events during predictions, you ensure that historical spikes or declines are accurately reflected in your future predictions. Without events, spikes or falls in data are normalised and distributed over the prediction period, potentially leading to less accurate predictions.
Business Benefits:
Improved Accuracy: By including historical data spikes in your predictions, you will see these spikes in your projected data, enabling better planning and preparation for volume or seizing opportunities. Finance teams can now incorporate historical events, such as past sales promotions, or economic downturns, into predictive financial models. For example, during budget planning, finance teams can adjust forecasts to account for the impact of specific events on sales figures such as increased sales during Christmas and holiday seasons, leading to more accurate financial projections and improved resource allocation.
Customisation: You have the flexibility to choose whether you want to include historical data spikes and declines in your predictions or skip them entirely. This customisation ensures that your predictions align with your unique business needs.
IPM Insights Enhancements
IPM Insights has been enhanced with the following new features:
1. Highlighting Explainability
In the IPM Insights Analyzer view, you can now easily understand insights with a new "explainability" feature. It shows detailed information about the insights, including metrics and methods used.
You can also add comments to explain insights to colleagues, improving collaboration
2. Historical Data for Predictions
For prediction insights, you can now view historical data alongside future predictions. Just click "Show historical data" in the Analyzer view.
3. Absolute Impact Magnitude Thresholds
Admins can now set impact magnitude thresholds based on absolute values, not just percentages.
Insights are categorized as High, Medium, or Low impact, making it easier to prioritize your analysis.
4. Parent-Level Insight Analysis
You can now analyze data at higher levels, not just leaf-level. For example, if your data is monthly, you can analyze it quarterly.
Business Benefits:
The enhancement enables users to understand insights better with detailed explanations and historical data, improving transparency and trust in results. The historical data provided for prediction insights give you a more holistic view of the data. It also provides better data analysis prioritisation with flexible impact thresholds, focusing on the most critical insights. The ability to analyse data at higher levels provides users more flexibility and options for in-depth analysis.