What is the Difference between Planning Vs HFM Vs Essbase ?

 Planning :

 
     * Oracle Hyperion Planning is a centralized planning, budgeting, and forecasting solution that
       integrates financial and operational planning processes and improves business predictability.

 Key features :

     * Complex planning processes
     
       1. Planning by employee
   
       2. planning capital requests

       3. planning projects



    * complex driver based

    * Managing the planning and workflow

    * Combining budgets, rolling forecast, LRP(long range planning,weekly snapshots, etc. into a single application.

 

 HFM: Hyperion financial management

    * Oracle Hyperion financial management is a comprehensive, Web-based application that delivers global financial consolidation,
reporting and analysis in a single,highly scalable software solution.

 Key Features:

    * Complex organizational consolidation

    * Multiple transactional currencies

    * Inter company transactions

    * Minority interest (minority interest is a fractional share of a company amounting to less than 50% of the voting shares)

    * Maintaining historical representation of data

    * Ability to handle journals(Journals are really just another way to get data into the system, with a couple of exceptions. Unlike WDEFs or grids,
      journals provide system reports to view that give you a trail of the changes made)

    * Full audit trails-Data and end user actions

    * External reporting to stakeholders

 Essbase:

 
    * Essbase  is a multidimensional database management system (MDBMS) that provides a multidimensional database platform upon which to build analytic applications.
      Essbase, whose name derives from "Extended Spread Sheet data Base".

    Key Features:

    * Highly advanced calculation engine

    * Rich user experience - (Brings powerful online analytics processing (OLAP) directly to the business user)

    * What-if” analysis- (Quickly and easily develop and manage analytic applications that can forecast likely business performance levels)

    * Open, scalable, and secure- (Enables detailed analysis of terabytes of data for thousands of simultaneous users, providing up-to-the-minute, dependable information)

 

                                 Hyperion planning vs Essbase :

 

          Hyperion planning                                                   Essbase 

   1. centralized web based solution providing            1.Powerful analytic engine to do"whatifanalysis"
      Excel interface for budgeting and forec-
      asting activities

   2.Essbase as the backend for application

   3.Provides powerful workflow including                 3.No such workflow is available
     Email notifications alerts,and task lists
     To better control and manage the budget
     process

   4. provides task lists which can be assigned            4. No task lists are available
      to the team to manage the budget process
 
   5.account annotations and supporting details           5.No such functionality
     functionality available to provide justification
     on the budget numbers
 
   6.out of box functionality is available for                  6. No such prebuilt solutions available
     workflow and capital asset is available

   7. system 9 workspace provide single web based           7. Essbase application is managed by a separate interface to manage planning and forecasting        console which is also available on web but is  and associated financial and web analysis                               not integrated with Hyperion reports    reporting
 
   8. Data load can be done through web forms              8. No web based forms/templates available, need to develop excel based templates

   9. Security is role based                                               9. security is role based

   10. 20 maximum dimensions                                       10. No limit

   11.'8' mandatory dimensions                                        11. No limit
       account,entity,period,year,scenario
       version,currency(multi currency),
       Hsprates (Multi currency)

   12. Maximum 5 types of plan type                                12. plan type corresponds to db in essbase application
       3 generic plan types
       workspace planning
       capital planning

   13.calc script available                                             13. calc scripts are available for writing complex logic

   14. User prompts are available in                            14. no user prompts are available in calc scripts
       business rules

    Hyperion financial management  vs Hyperion planning

            Hyperion planning                                            Hyperion financial management 

1. It's a planning, budgeting and forecasting                   1.It's a financial consolidation application
   web based application

2. planning cycles can be annual, quarterly, monthly            2. It's a monthly close
   or ad-hoc

3. the planning team is focused on future performance           3. the accountants are compiling historical results