Hi. It's been a while since I've last posted, but I'm back on track talking about some great changes with the June 2019 update.
First, the product gets a rename to just Financial Consolidation and Close. I'll still use FCCS below, at least for now.
Along with the usual updates, a huge area has been addressed. One of the questions that has repeatedly come up with FCCS is how to archive and access different versions of an application. In HFM, it was simple - just make a copy of the application. As long as you had enough database space, you could make as many copies as you wanted. And some customers did: 2016 year end, 2017 year end, before major acquisition, after major acquisition, etc. So, in FCCS, what can you do?
Up until June, the choice was pretty limited. You save your artifact snapshot (basically the whole environment in a zip file). But, you can't import the snapshot from a year ago as they have to be kept "fresh," meaning you can go back one software version but not further. You could keep the different snapshots and each month load them into test and re-extract them, but that's a big pain, particularly as you start storing more and more snapshots. And if disk space is a worry, then you would have to upload, import, extract, download, and delete; again, more pain. Although in fairness EPM Automate would be helpful here. And all of this would have to happen in coordination with the monthly update cadence, testing for the updates, testing for any development work, etc.
You could always license more environments, but with the 10 user minimum for a three year commitment that would get pricey for the occasional day of use when it's needed.
So, what's changing? There are two changes coming as discussed in the June 2019 update documentation located at: https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/fccs/releases/Jun/19jun-fccs-wn.htm
The first change is the availability of a script that updates the stored snapshots to the current release. The script will take the stored snapshots and update them to the current software version. The script does the update without having to import and then recreate the snapshot: much more elegant. The script should be run monthly in production after the monthly update. Find the details on this page: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management-common/cepma/sample_script_10_snapsht_library.html
The second change revolves around environment licensing changes. With the licensing change, Oracle is making it easier to get more environments, even with low user counts. Users need the current production environment and last year's ending environment both available at all times? No problem! At a very high level summary, you pay for each user once and then set up FCCS, Planning, Account Reconciliation, etc. There are three licensing levels with some differences. If you have the Standard license level, you basically create as many FCCS applications as you want for an additional fee for each one. If you have the Enterprise license level, there is no additional charge. Go to https://cloud.oracle.com/en_US/epm-cloud for more information. Also see the bottom of this post for a link to Opal Alapat's excellent description.
Beyond archiving, the June update has more fun stuff. Near and dear to me, as I use an Apple computer, is Smart View for Mac! Right now it's forms and ad hoc with functions to come later. There's also a new feature in Data Management to export data directly to a file without creating a custom application.
Also want to say that I hope everyone is going to Kscope19 in Seattle (https://kscope19.odtug.com). Lots of cool presentations going on this year, including yours truly talking about intercompany eliminations and hands on sessions with FCCS and Narrative Reporting (formerly EPRCS).
JUNE 2019 ORACLE EPM UPDATE BLOG HOP:
Continue your educational journey by "hopping" over to the following posts to find out more about specific product updates, as well as gain different partner perspectives on the licensing, naming, and consolidation changes. Thanks to Oracle Ace Director Opal Alapat for setting this up. And if you came to my blog from someone else's blog, thanks for stopping by and hope you come back!
Opal Alapat gives an overview of the June 2019 Oracle EPM Cloud blog hop, as well as details on the product name changes, product consolidations, and new licensing:
https://womaninepm.com/2019/06/04/orclepm-cloud-update-big-june-2019-changes/
Jun Zhang does a comprehensive summary of the June updates by product: https://theepmlab.com/epm-cloud-updates-june-2019-epbcs-fccs-pcmcs-arcs-edmcs-narrative-reporting/
Jay Chapman covers the notable EPRCS (now called Narrative Reporting) June updates: https://functionallytechnical.blog/2019/05/31/new-name-who-dis/
Pete Nitschke discuses the Planning Cloud June updates in more detail: http://essbasedownunder.com/2019/06/pbcs-epbcs-what-is-old-is-new-again/
Kate Helmer summarizes important EDMCS updates:
https://hyperionbarbie.wordpress.com/2019/06/04/19-06-edmcs-update-new-epm-cloud-announcements/
Tony Scalese covers changes to the REST API and EPM Automate:
http://www.fdmeeguru.com/1906-rest-api-epm-automate-changes/
First, the product gets a rename to just Financial Consolidation and Close. I'll still use FCCS below, at least for now.
Along with the usual updates, a huge area has been addressed. One of the questions that has repeatedly come up with FCCS is how to archive and access different versions of an application. In HFM, it was simple - just make a copy of the application. As long as you had enough database space, you could make as many copies as you wanted. And some customers did: 2016 year end, 2017 year end, before major acquisition, after major acquisition, etc. So, in FCCS, what can you do?
Up until June, the choice was pretty limited. You save your artifact snapshot (basically the whole environment in a zip file). But, you can't import the snapshot from a year ago as they have to be kept "fresh," meaning you can go back one software version but not further. You could keep the different snapshots and each month load them into test and re-extract them, but that's a big pain, particularly as you start storing more and more snapshots. And if disk space is a worry, then you would have to upload, import, extract, download, and delete; again, more pain. Although in fairness EPM Automate would be helpful here. And all of this would have to happen in coordination with the monthly update cadence, testing for the updates, testing for any development work, etc.
You could always license more environments, but with the 10 user minimum for a three year commitment that would get pricey for the occasional day of use when it's needed.
So, what's changing? There are two changes coming as discussed in the June 2019 update documentation located at: https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/fccs/releases/Jun/19jun-fccs-wn.htm
The first change is the availability of a script that updates the stored snapshots to the current release. The script will take the stored snapshots and update them to the current software version. The script does the update without having to import and then recreate the snapshot: much more elegant. The script should be run monthly in production after the monthly update. Find the details on this page: https://docs.oracle.com/en/cloud/saas/enterprise-performance-management-common/cepma/sample_script_10_snapsht_library.html
The second change revolves around environment licensing changes. With the licensing change, Oracle is making it easier to get more environments, even with low user counts. Users need the current production environment and last year's ending environment both available at all times? No problem! At a very high level summary, you pay for each user once and then set up FCCS, Planning, Account Reconciliation, etc. There are three licensing levels with some differences. If you have the Standard license level, you basically create as many FCCS applications as you want for an additional fee for each one. If you have the Enterprise license level, there is no additional charge. Go to https://cloud.oracle.com/en_US/epm-cloud for more information. Also see the bottom of this post for a link to Opal Alapat's excellent description.
Beyond archiving, the June update has more fun stuff. Near and dear to me, as I use an Apple computer, is Smart View for Mac! Right now it's forms and ad hoc with functions to come later. There's also a new feature in Data Management to export data directly to a file without creating a custom application.
Also want to say that I hope everyone is going to Kscope19 in Seattle (https://kscope19.odtug.com). Lots of cool presentations going on this year, including yours truly talking about intercompany eliminations and hands on sessions with FCCS and Narrative Reporting (formerly EPRCS).
JUNE 2019 ORACLE EPM UPDATE BLOG HOP:
Continue your educational journey by "hopping" over to the following posts to find out more about specific product updates, as well as gain different partner perspectives on the licensing, naming, and consolidation changes. Thanks to Oracle Ace Director Opal Alapat for setting this up. And if you came to my blog from someone else's blog, thanks for stopping by and hope you come back!
Opal Alapat gives an overview of the June 2019 Oracle EPM Cloud blog hop, as well as details on the product name changes, product consolidations, and new licensing:
https://womaninepm.com/2019/06/04/orclepm-cloud-update-big-june-2019-changes/
Jun Zhang does a comprehensive summary of the June updates by product: https://theepmlab.com/epm-cloud-updates-june-2019-epbcs-fccs-pcmcs-arcs-edmcs-narrative-reporting/
Jay Chapman covers the notable EPRCS (now called Narrative Reporting) June updates: https://functionallytechnical.blog/2019/05/31/new-name-who-dis/
Pete Nitschke discuses the Planning Cloud June updates in more detail: http://essbasedownunder.com/2019/06/pbcs-epbcs-what-is-old-is-new-again/
Kate Helmer summarizes important EDMCS updates:
https://hyperionbarbie.wordpress.com/2019/06/04/19-06-edmcs-update-new-epm-cloud-announcements/
Tony Scalese covers changes to the REST API and EPM Automate:
http://www.fdmeeguru.com/1906-rest-api-epm-automate-changes/
