Product Update Highlights: Oracle EPM Cloud FCCS, ARCS and EPRCS – July 2020
Note: This will change from month-to-month and aims to provide a picture of what is going on with Oracle ARCS, FCCS and EPRCS.
New Feature #1 - ARCS Period Management
Description: Improvements to configuration and management of periods to support daily reconciliations and large lists of periods.
- Enhanced management of large lists of periods by improving the sorting, filtering, and viewing of periods
- Support daily reconciliations by allowing easier creation of daily periods
- Allow bulk uploading of periods instead of requiring manual configuration
Qubix point-of-view: Huge relief to system administrators as bulk updates to periods in ARCS is possible now. The sorting and filtering periods will make life easier for the users especially in the case of daily reconciliation application.
New Feature #2 - Ability to search and delete records in supplemental data manager forms in FCCS
Description: Supplemental Data Manager forms have been enhanced to include a new Search field to quickly find records in Detail collection and sub-collection sections. You can search on any field (Text, List, or Number) on the data grid, except for Date and Time.
A new Delete All option is now available to delete all records in sub-collections.
Client benefit: Delete all functionality now allows users to delete all records using single click compared to previously selecting all the records and then clicking delete option.
Qubix point-of-view: May save only few seconds of the user time but yet quite an effective feature to improve the overall user experience.
New Feature #3 - Additional consolidation dimension members in FCCS
Description: The Consolidation dimension now includes additional members if the Translated Currency Input, Parent Input and Contribution Input features were selected during application creation or enabled subsequently.
The additional members include:
- Translated Currency
- Input Parent Input
- Parent Total Contribution
- Input Contribution Total
You can now enter Currency Adjustment journals to any input currency. These adjustments are then applied to the matching parent currency or reporting currency after translation / FX / CTA has been calculated.
When you enable Translated Currency Input during application creation, the system creates an additional member in the Consolidation dimension named FCCS_Translated Currency Input. You can select the FCCS_Translated Currency Input member when you create journals, journal templates, and journal reports, and export and import journals through the Journals module. In addition, the FCCS_Translated Currency Input member is available for selection in On-Demand Rules.
Parent Input provides for data entry to the Parent/Child combination in the currency of the parent. Contribution Input provides for data entry that has already been proportionalized and re-classified as required. Parent Input and Contribution Input data can be entered through data entry forms, Smart View, data load or journal entry and can be written to through Insertion Point rules.
Client benefit: Still struggling to adjust overseas entity’s data post translation? Well, not anymore! FCCS now has much awaited functionality of Parent Adjustments.
Have to depend on the adjustment entity or posting adjustment at the Parent entity because you can’t adjust the elimination data? From this release, FCCS will allow posting Contribution Adjustments, which can be posted at the base entity level eliminating needs of depending on an adjustment entity or Parent entity.
Note that in case of multiple/alternative structure scenario, it may be still advisable to use the concept of the adjustment entity so that users don’t have to replicate the journal adjustments in the alternate structure(s).
Technical considerations: For an existing application, the system administrator will have to enable this feature. Alternatively, this feature can be enabled during the application creation.
Qubix point-of-view: This feature now completes the HFM value dimension. Remember the [Parent Adjustments] and [Contribution Adjustments] member of HFM? This have been introduced in FCCS via Parent Input and Contribution Input members respectively.
By introducing this functionality, FCCS surpassed flexibility available in the great HFM application. HFM would allow these adjustments to be posted only via journal entries, but FCCS will allow these adjustments via journal entries, web forms or Smartview inputs. Moreover, FCCS journals are much more flexible than HFM journals now:
- In FCCS, you can select YTD or Periodic journal at the journal level compare to scenario level settings in HFM.
- In FCCS, at entity level, you can post a journal entry in any currency and in turn, FCCS translates it back to the respective entity currency using the applicable rate. However, HFM allows to post journal entry in the local currency or the respective parent currency only.
New Feature #4 - EPM Automate recomputeownershipdata command in FCCS
Description: Recomputing data is required after each database refresh, even if the entity structure was not changed.
Client benefit: Working across multiple year and tired of calculating ownership using user interface year after year? Why don’t use EPM Automate Command. EPM Automate has this new command which can allows you to compute the ownership for specified POVs. You can also schedule this commands.
Qubix point-of-view: One step closer to improve the user experience. We hope that eventually this will become an integral part of the database refresh process.