Contribution made by Nick Yezza
Overview
Finance organizations need to eliminate the data integrity risks associated with collecting, mapping, verifying and moving critical financial data across the entire organization. Hyperion Financial Data Quality Management (FDM or FDQM) reduces variability, helping finance workers to trust their numbers and lower their cost of compliance. Hyperion FDM is a packaged solution for business users to help develop standardized financial data management processes with its Web-based, guided workflow user interface. Its data preparation server can ease integrating and validating financial data from any of your source systems.
Hyperion FDM includes prepackaged adapters for integration with Hyperion Financial Management, Planning and Essbase.
Product History
Originally developed by Upstream Software, Financial Data Quality Management was intended to be a business user’s ETL tool for data management and data quality management. The product grew in popularity with organizations’ increased requirements for tools that promoted Sarbanes-Oxley and other regulatory compliance.
In 2002, Hyperion became a preferred partner of Upstream, eventually leading to the distribution of the product to 200+ Hyperion customers. In 2006, Hyperion acquired Upstream and branded the product as Hyperion Financial Data Quality Management.
Strengths / Benefits
- Guided workflow - Web-based, guided workflow user interface helps users easily create timely, accurate financial data management processes.
- Transparent - Audit trails deliver transparency of every data point back to the original source.
- Data Quality Checks - Data validations and quality checking at every step in the process.
- Pre-Built Processes - More than 85 pre-built audit, log, system, and process management reports.
Resources