Likelihood to Recommend 1) The budget process. In QBO the budgeting capability is non-existant, unless you like manually typing in every scenario and not being able to budget by class. Cube houses my budget/forecast scenarios & lets me view and analyze by my company's preferred data points; department, GL account, vendor, & sales campaign. I'm able to run monthly budget variance reports and plan for the future with ease. 2) We've begun using Cube to help analyze profitablity by sales job. We've never had such easy access to this type of info in the past, so this is a benefit I can directly attribute to Cube. 3) We're beginning now to use an integration with our payroll software to work on headcount planning and payroll analysis.
Read full review Well suited: For use in multiple offices around the world. I was able to obtain financial reporting data from 5 foreign offices and then consolidate their data with 3 domestic USA offices to prepare a consolidated financial statement. Less Appropriate: Translating the financial value for consulting services could be a bit challenging because that required human interaction and judgement. It would have been great to be able to set up some software to be able to interpret this and let it run for all future project work revenue projection.
Read full review Pros Push/pull information across any Google Sheet or Excel workbook. Budget at a much more granular level (by month by account by the department by vendor). Custom mapping to allow for multiple cuts of the same data. Bulk range selection within a workbook. Read full review This product handles budgeting by Employee and/or Position very well. It is highly flexible and allows Hyperion administrators the ability to develop a planning application that fits a variety of different business needs. It is great at calculating benefits using business rules to automate the population of these fringe costs in the overall budget planning process. This greatly reduces user error. It allows you to seed the operating budget based on changes to key drivers, such as percentage increases, flat dollar increases and more detailed changes using business rules. Allows visibility into the plans for each unit across the organization, rolled up into an overall budget for the campus. It handles the creation of budgets with multiple chartfield segments or dimensions, which most other budgeting systems cannot handle well. It can aggregate these very quickly. Teal Sexton Interim Director of Business Intelligence and Finance Systems
Read full review Cons Limited to 8 top line dimensions. Although you can bring in as many attributes of data as you want, but I would really like Cube to increase top line dimensions to 10. The ability for cross level interaction within multiples cube would be a major plus once implemented. Read full review One pain point for us is the consolidation and translation process. Needing to translate the data over and over again is frustrating and there is no visibility into how many users are running a translation. If multiple users attempt to translate the same data set, say goodbye to your performance but you have no way of knowing! (Unless you want to pull up a task audit which is not a very realistic expectation). It has the been the quickest way for us to bring the system to it's knees. The consolidation process performs in direct correlation to the complexity of the calculation/consolidation rules. So, while the product is extremely flexible, you still have to be careful how you design your rules and calculations to make sure that you do it on the smallest subset of data as possible to avoid large processing times. This makes sense, but requires some significant expertise that most organizations do not have in-house. The Hyperion Financial Reporting product is ridiculously outdated and clunky to use. The interface for designing reports is not intuitive, and not easy to modify once a report is built. I think there must be a strategic decision to move away from it and go to something more like Oracle BI because I just can't understand why in the world they don't update the reporting product. It also requires a significant level of expertise to be able to use. Not a great solution at all if you want multiple end-users to create reports in something other than Excel. Nobody except the HFM admin (which I used to be) in our company even touches this module. Another pain point is the amount of IT support that is required to run this thing, and again, specialized knowledge of Hyperion products and how they work is required for IT to adequately support it. This goes for application servers and the Oracle database that the applications are running on. Read full review Likelihood to Renew We're in the middle of the road because we are not sure that other products on the market fit the bill for what we need yet. Hyperion is expensive and burdensome from an administrator and maintenance standpoint, but it still seems to be the best solution for what we need. Show us an equally capable SaaS consolidation product and we'll talk again.
Read full review Support Rating The premium support team provides much needed dedicated customer service which we are after for what we have paid for this service. We are satisfied with the service and support and do not have any instance where there was an issue that requires escalation to get the right support team. Though the incidence of major issues that requires the premium support are less, we prefer to keep this as a safety net.
Read full review Alternatives Considered Cube was just a lot easier to use than
Vena . We took some time to look at
Vena as well and while their product was impressive, our organization was not yet there. We needed something we could implement quickly, and in today's day and age I think that is a very important quality to have. Start up and early stage companies do not have the luxury of implementation teams and massive IT resources so Cube was a huge help.
Read full review I use Oracle Hyperion Enterprise Performance Mangement because the company I work at requires me to use it in the Financial Planning sector as most of their data is stored in it. I am open minded and ready to use other performance management tools created by Oracle if my work permits.
Ricky Bhatia Financial Planning Analyst- Student Assistant/ Consultant
Read full review Return on Investment It has decreased the amount of time it takes to build reports by days I can rest easy knowing the knowledge is accurate and there is no human error I have been able to create more reports than I ever dreamed of with the new time and ease of use Read full review Oracle Hyperion allows us to automate and consolidate financial data that used to be performed manually in spreadsheets. From that perspective the ROI is huge. Oracle Hyperion functionality is extensive and allows us to perform most functions for planning, consolidating and reporting on our financial data. One negative with Oracle Hyperion is that it is complicated to implement and maintain. It takes expertise at all levels (infrastructure and management) to realize the benefits from it. Read full review ScreenShots