Oracle HFM Reviews

Name: Oracle HFM
Brand: Oracle
Rating: 4.1 (15 reviews)

4.1 out of 5

15 reviews
100% willing to recommend

565 followers

What is Oracle HFM?

Oracle Hyperion Financial Management is a financial consolidation and reporting application built with advanced Web technology. It provides financial managers the ability to rapidly consolidate and report financial results, meet global regulatory requirements, reduce the cost of compliance and deliver confidence in the numbers.

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Oracle HFM is the #6 ranked solution in top Business Performance Management solutions. PeerSpot users give Oracle HFM an average rating of 8.2 out of 10. Based on the analysis of the 15 most recent Oracle HFM reviews, the overall sentiment is positive, with a sentiment score of 7.0. Oracle HFM is most commonly compared to Anaplan: Oracle HFM vs Anaplan. Oracle HFM is popular among the large enterprise segment, accounting for 67% of users researching this solution on PeerSpot. The top industry researching this solution are professionals from a financial services firm, accounting for 12% of all views.

Helped 824,095 peers since 2012

Featured reviews

AhmedHaridy

Managing Director at Emkan

The initial setup of Oracle HFM is generally straightforward and not overly complex. The deployment time for Oracle HFM varies with the resources, but it usually takes around three to eight months, with an average of three to four months. The deployment process for Oracle HFM involves several key steps. It begins with the installation of Oracle software, followed by gathering requirements and relevant documents. These documents help define the report formats and service needs. Next, the team configures the system, starting with the enterprise structure, which needs to align with the ERP system. Data loading and configuration follow, with Oracle HFM typically requiring more resources compared to other systems like SuccessFactors.

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Mahdi Mohaddes

Junior Financial Analyst at Coveris Inc.

We use the solution in our organization for financial data I can't discuss the strong points of the solution right now because I'm not really familiar with the product. But maybe in a month, I can tell you. However, I can say that it's user-friendly, and the dashboard is good, so it's easy to…

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reviewer2543766

Director at a photography company with 11-50 employees

I would still recommend Oracle HFM to others. Over 75% of the FTSE 100 are using Hyperion for their reporting, budgeting, and forecasting. That speaks volumes. Any organization in the FTSE 100 or Nasdaq, having done their due diligence and selected it, signifies its value. I'd rate the solution nine out of ten.

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Oracle HFM mindshare

As of December 2024, the mindshare of Oracle HFM in the Business Performance Management category stands at 9.8%, up from 8.9% compared to the previous year, according to calculations based on PeerSpot user engagement data.

Business Performance Management

PeerAnalyst reports

Type	Title	Date
Category	Business Performance Management	Dec 27, 2024	Download
Product	Reviews, tips, and advice from real users	Dec 27, 2024	Download
Comparison	Oracle HFM vs Anaplan	Dec 27, 2024	Download
Comparison	Oracle HFM vs Oracle Hyperion	Dec 27, 2024	Download
Comparison	Oracle HFM vs Oracle Planning and Budgeting Cloud	Dec 27, 2024	Download

Title	Rating	Mindshare	Recommending
Anaplan	4.0	13.7%	96%	27 interviews Add to research
IBM Planning Analytics	4.3	9.5%	94%	23 interviews Add to research

Valuable Features

Oracle HFM excels in rapid data consolidation, multi-currency translations, and complex ownership calculations. Users value its flexibility in rule coding, versatile data access through its web interface and Microsoft Office tools, and efficient equity pickup module. Its built-in currency exchange and elimination features are crucial, and the platform supports consolidation from various data sources. Known for user-friendliness, it simplifies configuration and requires fewer resources for implementation, supporting multiple hierarchies and tax reporting.

"It is an expensive product but delivers what it promises, ensuring regulatory compliance, reducing risks associated with spreadsheets, and providing a better return on investment based on usage."
"The most valuable feature is the flexibility and ease of configuration in terms of testing and formula creation."
"The tool is stable."

Room for Improvement

Oracle HFM users highlight the need for an improved user interface and better integration with external systems. The interface lacks modern features like copy/paste and mobile support, and financial reporting is not user-friendly. Integration with systems like JD Edwards and SAP is challenging, with desires for automated data transfers. Support for batch processing in intercompany reporting and a more user-friendly cloud transition are sought. Users also want enhanced scripting automation and dashboard functionality.

"Improvements can be made by possibly different interfaces to modernize it, more automation in scripting, and better integration with third-party solutions and reporting capabilities."
"In terms of improvement, one challenge with Oracle HFM is the need for technical knowledge in writing SQL syntax for custom extensions."
"The solution has integration challenges. We need a simple tool that is fool-proof for the data that is submitted not only for consolidation purposes but also for performance management and reporting purposes."

ROI

Pricing

Oracle HFM operates on a named user licensing model with varying costs for HFM and Essbase planning. Pricing can be substantial, impacting large-scale organizations significantly. The solution is considered costly, determined by user numbers and potential Oracle discounts. Despite its expense, Oracle HFM promises regulatory compliance, reduces spreadsheet-related risks, and offers a satisfactory return on investment for enterprises with the budget to accommodate its pricing structure.

"Oracle Hyperion Financial Management (HFM) uses the named user licensing model. There's different pricing depending on HFM and Essbase planning."

Popular Use Cases

Organizations primarily utilize Oracle HFM as a consolidation tool for financial data. Deployed on-premises, typically on version 11.1.2.4, it helps in integrating financial statements across entities within a group. It facilitates uploading values and preparing comprehensive consolidated statements. As an ERP system, it aids in managing group-level financials. Companies often rely on partners for implementation and support to maximize its use.

Service and Support

Customer service and support for Oracle HFM receive mixed feedback, with ratings mostly between 7 and 9 out of 10. Though knowledgeable, accessing the right help can take time, and the support team sometimes lacks proactivity and customization expertise. Users appreciate available external resources like blogs and videos, but reliance on fewer support engineers and artificial intelligence affects response quality. Support is generally considered better than others, yet limited information sharing can frustrate customers.

Deployment

Many found Oracle HFM's initial setup straightforward, especially when adhering to instructions. Some noted complexities and required custom solutions for missing functionalities, leading to less flexibility. Installation could take minutes while deployment varied, typically three to eight months. It involves installing software, defining requirements, configuring the enterprise structure to align with ERP systems, and managing data loading. Some found it easy and quick, while others highlighted the need for specific expertise and resources.

Scalability

Oracle HFM is highly scalable for large companies, accommodating over 100 subsidiaries and global use without connectivity issues. Users highlight its successful implementation with minimal resources needed. Some find SuccessFactors offers better scalability. However, Harvard lists it as the most robust offering in the market, with unparalleled adaptation to growth and needs over time. Oracle HFM addresses infrastructure stability and scalability for major corporate environments, like FTSE 100 and Nasdaq, making it a preferred choice.

Stability

Oracle HFM is generally stable, though some users report occasional performance issues. Its advanced versions show improvement in this area. Stability is rated highly, provided minimal changes are made. Some limitations exist due to design constraints. Users find it user-friendly and reliable, suitable for sharing information with management. Oracle HFM effectively meets consolidation and regulatory reporting needs, consistently accessible and available, receiving a high stability rating.

These insights are based on the in-depth reviews provided by peers to help you make a better buying decision.

Download our Oracle HFM Buyer's Guide for additional reliable information.