End of the Road for Oracle Hyperion Applications
- Multiple points of maintenance
- Multiple points of data integration
- Time spent synching and reconciling data across applications
- High costs of ownership and upgrades
In addition, over the past few years, there has been limited innovation and declining support for these legacy products. And now, with the end of support having passed on 12/31/21 for older versions of these products – we have reached a decision point for Hyperion customers. The proverbial “fork in the road.”Which path will you choose? Let’s look at the options available.
The first option for customers facing the end of support for Hyperion 22.214.171.124 or older versions is to upgrade to Oracle Hyperion EPM 11.2. Oracle has communicated that customers upgrading to this version of the Hyperion applications will be supported through 2031. However, very little innovation is expected on these products, and Oracle has already communicated that some modules were deprecated and are no longer supported.
The Power of an Intelligent Finance Platform
Figure 1 – OneStream’s Unified, Intelligent Finance Platform
With over 900 organizations and more than 160,000 users globally, OneStream has been recognized as a market leader by IT industry analyst firms such as Gartner, IDC, Dresner Advisory Services, Nucleus Research, and others and has received the Gartner Peer Insights Customers’ Choice recognition in both Cloud Financial Close and Cloud FP&A solutions.
Our customers are using OneStream for planning, financial close & consolidation, reporting, analytics, account reconciliations, and more. In fact, 70% of our customers replaced multiple legacy applications such as Oracle Hyperion, SAP BPC, and IBM Cognos.
These organizations are achieving many benefits, including the following:
- Reduced Technical Debt – Lower cost of ownership by eliminating multiple legacy applications and manual processes.
- Increased Efficiency – average improvements of 39% in financial close and consolidation, 74% in reporting, and 32% in planning and budgeting – freeing up FTEs to focus on more value-added tasks.
- Improved Effectiveness – The impact on the business of making faster, more informed decisions.
With the end-of-life looming, it’s a critical decision point for Hyperion EPM customers. What is the future of Hyperion? For customers who elect to upgrade to Oracle Hyperion 11.2 the future means you can get support, but limited innovation, which means limited ability to digitally transform your Finance operations. Migrating to Oracle EPM Cloud is an option, but buyer beware, you’ll face a lot of the same challenges that you face in managing and maintaining multiple Hyperion on-premise applications.
Check out our white paper titled “Why Now is the Time to Convert From Oracle Hyperion Applications” to learn why over 400 organizations have chosen to convert from Oracle Hyperion to OneStream’s unified CPM software platform. And contact OneStream if you would like a conversion assessment, where our team of experts will help you perform an ROI analysis of converting from Oracle Hyperion to OneStream.