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Posts Tagged ‘Budgeting’

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Top 7 Trends in Corporate Performance Management [Webinar]

Perficient’s corporate performance management (CPM) strategist Tony Coffman provides an overview of the top seven trends shaping the CPM industry in this webinar presented by Perficient and Financial Executives International. From social collaboration, to integrated planning, to zero-based budgeting and more, CPM suites are expanding into domains and business processes formerly managed in the ERP […]

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Empower EPM Planning with Oracle Cloud Analytics #C17LV

There are several analytical capabilities that Oracle Enterprise Performance Management (EPM) products, whether Hyperion on-premises or Cloud EPM, have to offer. Financial reports and ad-hoc analysis in Excel are all great. However, in general EPM reporting capabilities remain restricted to whatever data you have in EPM. Are you looking to do one or more of […]

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A Top Physician Group Migrates to PBCS

Harvard Medical Faculty Physicians at Beth Israel Deaconess Medical Center, Inc., a legacy Oracle Hyperion Planning customer, needed to refine its finance and labor planning models, as well as provide end users a platform that was simpler and more intuitive to use, and that provided a real-time look into their budgeted bottom line throughout the […]

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Hospital Labor Productivity: Squeezing the Turnip?

Assembling the vast amounts of data in healthcare is both a technical and political challenge. I’ve worked at or with multiple hospitals where the finance and clinical teams never really collaborate and therefore the lens put on either domain is not terribly realistic. Truly merging and using the data requires organizational transparency and a commitment […]

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Tools for Uncovering the Value of Care

I recently wrote a blog post called The Value of Care: The Secret Sauce in which I talked about the importance of having transparency of data. Costing is an evolutionary process perhaps starting with one type of procedure, one clinic or one service line or perhaps starting with a hybrid of costing methodology.   The great […]

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VIDEO: 6 Healthcare Performance Management Trends

Healthcare organizations have an increased focus on operational performance. Healthcare Enterprise Performance Management (EPM) creates visibility and accountability throughout the organization to identify financial performance gaps continuously and quickly change course when needed. Embracing data-driven decision-making in a provider setting requires agile thinking to pinpoint and respond to the short- and long-term needs of the […]

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Infographic: 6 Healthcare Performance Management Trends

Healthcare enterprise performance management (EPM) creates visibility and accountability throughout the organization to identify financial performance gaps continuously, and quickly change course when needed. Embracing data-driven decision-making in a healthcare provider setting requires agile thinking to pinpoint and respond to the short- and long-term needs of the organization. In our latest infographic we we take […]

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6 Healthcare EPM Trends: #6 Innovation in the Cloud

TREND #6: INNOVATION: MOVEMENT TO THE CLOUD Enterprise performance management solutions are in a period of rapid transformation to the cloud. According to Gartner, the issues driving CFOs to consider the cloud are: Faster Development = Increased ROI: A recent study by Nucleus Research reported that cloud applications deliver 1.7 times the ROI of on […]

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6 Healthcare EPM Trends: #5 Value of Care

TREND #5: VALUE OF CARE: THE SECRET SAUCE Costing is an evolutionary process that begins with one type of procedure, one clinic, or one service line, or perhaps with a hybrid costing methodology. The great news is that technology can help realize the goal of improved costing by allowing for the use of multiple costing […]

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6 Healthcare EPM Trends: #4 Financial Transparency

TREND #4: FINANCIAL TRANSPARENCY: MODERNIZE YOUR DECISION-SUPPORT SYSTEM As the healthcare industry moves toward value-based payment models and population health management, the need to innovate is paramount when it comes to cost management. Today’s CFO needs a new generation of decision-support technology solutions along with unprecedented access to transactional data to address tough questions across […]

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6 Healthcare EPM Trends: #3 De-Mystifying the Budget Process

TREND #3: DE-MYSTIFYING THE BUDGET PROCESS: PERFORMANCE MANAGEMENT LEADS TO PERFORMANCE IMPROVEMENT Budgets have traditionally been an aggregation of numbers molded into a financial statement to measure margins and then asking business leaders to explain actual-to-budget variances. Healthcare leaders are now building strategies to mature this process into a compilation of metrics that are representative […]

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6 Healthcare EPM Trends: #2 Budgets

TREND #2: BUDGETS: DAILY, WEEKLY, MONTHLY, ANNUALLY OR CONTINUALLY? Historically, budgets were compiled once per year (if that often) and variance analysis was a monthly activity. Hospitals started looking at multi-year, year-over-year analysis first, then eventually actual-to-budget, reinforcing the variance analysis process once data became more transparent. This led to “re-forecasting” the budget into a […]

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Healthcare Delivery: A Need for Change

It is no secret that the healthcare industry is in a state of transformation and for good reason. In a recent international study that compared 11 nations on healthcare quality, access, efficiency, and equity, the United States was ranked last among wealthy countries. In other words, in the United States healthcare outcomes do not align […]

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Hyperion Drives 80% Speed Improvement to Financial Close Process

Oracle Hyperion can help centralize financial data to help businesses see the big picture quickly. We recently worked with an energy company that was making critical business decisions using data from a myriad of disparate spreadsheets and databases. This was frustrating because it didn’t allow for a central, single version of the truth. After Perficient implemented […]

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Budgeting in the Cloud #HFMA #ANI2015

That image makes budgeting even seem fun, right? I can think of myself perched up on a thick fluffy cloud crunching numbers. Well honestly … I’m not sure that budgeting is ever fun but we now have the combination of the industry leading budgeting solution, Oracle Hyperion Planning, available in the cloud. As I mentioned […]

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How does Currency Volatility Affect Your Business?

In a blog post earlier this year, I discussed the precipitous drop in energy prices.  From roughly mid 2014 through early 2015, the price of crude oil was cut in half, and the related dominoes started to fall.  Companies were affected directly or indirectly by the new price level of oil.  Public and private entities […]

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How do Lower Energy Prices Affect Your Business?

Business leaders around the world are fully aware of the precipitous drop in energy prices. Oil prices are reported to be at 5 year lows, with the absolute price per barrel cut roughly in half in 2014. This weekend in Chicago, there was a specific gas station, to which I am fortunate to live near, […]

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How to Rapidly Deploy Budgeting & Forecasting with Oracle Cloud

In a recent blog post I discussed how nearly 90 percent of companies are still using spreadsheets and outdated technology for financial planning, budgeting and forecasting, which exposes them to unnecessary risks. Fortunately, as more and more technology solutions are being pushed to the cloud, finance departments and CFOs can elevate their budgeting and forecasting […]

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Modern Budgeting & Forecasting Has Arrived – Are you Ready?

The recent departure of Walgreen’s CFO due to a large forecasting variance error, is a drastic reminder to all of us who have dedicated their careers to financial transformation, of the intense criticality of mastering the entire cycle of planning, budgeting, forecasting and reporting. 15 years ago when I started consulting with finance and accounting […]

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4 Capabilities of an Effective Financial Forecasting Model

Terie McClintock, Director of Oracle Core at Perficient, recently wrote a blog on financial forecasting models for healthcare reform: Financial forecasting captures relevant operational, statistical and financial data in one place to enable sound planning and decision making. In addition, forecasting fosters a common understanding of business drivers and their effect on operations and financial […]

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