How to Squeeze more out of Essbase!

 

In these challenging times, accurate and comprehensive business-based reporting still needs to be delivered.

The fact that team members are unable to work at the office is no longer an excuse accepted by CFO’s for non-delivery of critical business information.

 

Neither will the CIO accept that reporting staff cannot add reporting functionality just because COVID keeps them from meeting in a conference room to white board requirements and kick off a project.

   

At this time, work just needs to be done, as we are living in a stressful new normal. Those harsh facts being said, it does make delivering business data without acceleration tools more difficult.

 

Fortunately, there are utilities that help Essbase maintain the edge it has always had and frankly make it an even more compelling tool.

Getting data from so many places is required

 

Essbase is great but because of its design, it is very time consuming and expensive to create dozens of cubes for every single need.  SmartView, helps but is more of a therapy than a cure because of the perverse dependence on so much Excel for VLOOKUPS & Macros to get the reporting to the finish line. 

Then there is that wasteful challenge, of hierarchy and metadata maintenance that becomes an expensive chore made more difficult as many companies have less staff available for this task.

Regardless of this, users are already struggling with productivity.  They need data for analytics from more and more systems as every penny of margin and operational efficiency needs to be squeezed from Essbase and the enterprise. 

Funding for projects is not what it used to be

 

CFO’s and CIO’s have no choice but to encourage team members to make do and leverage what they have. 

It is an environment where heroic results are required for the least amount of money. Those are the only projects that will get funded. 

 

The utilities from Answer-Factory, namely QuickApp and UniversalRecon; both invented by an Oracle alumnus solve these problems and leverage Essbase.

QuickAppsm

  1. Creates analytic cubes with no coding. That then creates instant Essbase cubes that can be put to work for users as fast as Excel templets, yet provide the governance of Essbase.

  2. Has NO Metadata nor ETL requirement whatsoever. This makes reporting much more adaptable to change.  

  3. Can add new dimensions to existing tools like Essbase, TM1, SSAS…on the fly with No rebuild nor coding.  This allows you leverage other tools with Essbase. 

  4. Eliminates redundant cubes because we are not limited by older technology that forces clients to pick a workforce planning or expense-based application. Cube cleanup is a money saver.  

  5. Eliminates perversions like having to manipulate data with VLOOKUPS to obtain different views of the data to support the needs of a diverse user community.  This avoids many of the down stream reporting issues after data has been exported to SmartView. This is a massive cost and time saver as cubes are so inexpensive and quick to create. The dependence on spreadsheet export tools can be reduced along with cost and risk. 

  6. Automatically creates and renders MDX code that can be immediately used in reporting tools like: OBIEE, Qlik, Tableau, PowerBI, Essbase, TM1… so you will never pay anybody to write MDX code ever again.

  7. Eliminates the need to ever perform any hierarchy maintenance ever again.  This has a massive impact on both productivity and cost savings. This has a massive impact on both productivity and cost savings for your company

  8. Adds calculations on the fly to existing cubes with no coding, at the speed of thought. Who would not want that?

  9. Talks to any system that uses JDBC.  So, we talk to SQL, Excel, Postgres…text files…anything. 

 

UniversalReconsm

  1. Automatically reconciles data down to the journal entry level regardless of software vendor data source, with no coding and is operational in hours.  

  2. This tool runs off a JSON, CSV or SQL statement, the rest is already done, so the automation of reconciliations now reaches to: Finance, supply chain, HR, payroll, treasury…

 

What is also striking about the tools is that they NEVER take possession of the data.   The data stays in your network, this is critical to your data security and compliance paradigm.

The magic here is that the Answer-Factory tools use mathematical algorithms to leverage your existing data stores and it is so fast that it basically “Dashboards” what you need to see. 

 

Essbase is a powerful tool for this recession, as a platform it cuts costs and delivers business-based data.

The Answer-Factory utilities make that delivery a lot faster, less expensive, and easier.  The proof of concept is free, so the risk level of these tools is exceptionally low.

 

If I can be a resource to you or help you squeeze more out of Essbase or get projects funded, do not hesitate to contact me.  Jburke@answer-factory.com    609 750 8887 

About Jim Burke

Financial Systems Automation and Back Office / Operational Cost Containment Leader, leveraging software tools and best practices to drive margin improvement for clients that do not have money nor time to waste.

 

Contact:   jburke@answer-factory.com     Office 609 750 8887

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