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Overcome Challenges Closing the Books During the Pandemic

Your monthly closing process might have stayed the same for years or even decades. The traditional monthly close required a lot of in-person interaction between the Accounting department and other staff members. Procedures appeared on checklists on the walls, with managers checking up on the team to ensure that everyone stayed on schedule. Face-to-face collaboration included informal conversations and meetings. If a problem occurred, employees could go over to a manager’s desk to ask for help.

 
COVID-19 has drastically changed how many organizations handle traditional tasks. Remote workforces are now commonplace, and they are gaining ground as both companies and employees realize the benefits of this arrangement.

The books must close accurately every month, no matter where employees are. Here are the most common challenges with managing this process remotely, and how to overcome them.

Sudden Adjustments to Remote Work

The adoption of work-from-home policies was slow but steady before the pandemic. Once COVID-19 hit, the rapid acceleration of remote work left organizations and employees reeling. People new to working from home had to set up home offices and develop processes that allowed them to focus on their tasks, all while dealing with the stress of the pandemic. Organizations had to rapidly deploy alternative solutions to support the remote workforce, which may have led to inefficient applications that were easy to roll out and configure.

Fragmented Interactions

Employees lost traditional communication channels at the start of the pandemic, no longer able to visit someone’s desk or bring up questions face to face with their managers. Fragmented interactions developed when remote work moved conversations to video calls, Slack chats, emails, and other remote-friendly methods. Unfortunately, these solutions can slow down responses and leave people wondering where they are at in the close process.

Siloed Employees

Another major problem comes from employees lacking access to the resources they need for the monthly close. Financial data may live in on-premises data centers, with access restricted outside of the internal network. The software used for closing monthly could face similar limitations, especially if not intended for remote users.

Siloed employees may lack visibility into the tasks they need to work on, resulting in closing delays, redundant work, and other inefficiencies. It also puts the accuracy of the company’s books in peril, as the data accessed may not be up to date.

Increased Workloads

The pandemic may have resulted in layoffs in your organization. Your accounting team may be much smaller, with work responsibilities increased for each person. Some team members may be more affected than others, depending on who was laid off. You could end up with significantly stressed and overworked employees who make more mistakes, miss deadlines, and head straight to burnout.

Solving Remote Monthly Close Issues

While you face many challenges with closing the books remotely, you also have access to tools that can support a modernized process. One tool might be in software you already use. Oracle’s FCC EPM Cloud application and the on-premises Close Management solution can address the pressing issues at hand.

Some of the ways that Oracle Close Manager helps you achieve a fully remote closing process include:
 

  • Putting all resources and data into a centralized solution. Employees go to one source, updated in real time, to see what they need to do next to close the books for the month.
  • Improving visibility. You can see exactly where you’re at in the closing process, what tasks are pending or finished, and whether they need approvals to move to the next step.
  • Designed for remote access. You’re using an application that is ideal for employees anywhere around the globe. They won’t run into problems with permission or being unable to access the software from their home computers.
  • Easily optimize the workflow. When you see the full process from start to finish, you may find inefficiencies that printed instructions and checklists previously hid. You can audit each step so it is efficient, which helps you reduce the pain that comes from understaffed Accounting departments.

Read This Next

Closing the Books from Home or Anywhere Else Around the Globe

Today, businesses must achieve an accurate monthly close whether employees are physically in the office or working from home or anywhere around the globe. Download the paper to learn more about how tools such as Oracle’s Close Manager are helping businesses reach that goal.

The post Overcome Challenges Closing the Books During the Pandemic appeared first on Datavail.

Secrets of Power BI Performance: Power BI Gateways

Microsoft’s Power BI is one of the world’s most popular and widely used tools for business intelligence and analytics. It’s no wonder why IT research and advisory firm Gartner has named Power BI a “leader” in the field of analytics and BI platforms for 13 years in a row. Yet despite the widespread adoption of Power BI, many organizations face challenges and stumbling blocks when trying to maximize the software’s performance and efficiency.

In a previous article, we discussed tips and tricks for Power BI dataflows, which create an abstraction on top of your enterprise data sources to make it easier for users to access them. Below, we’ll continue the series by going over Power BI gateways, another essential feature to get the most out of your Power BI performance.

What Are Power BI Gateways?

Power BI gateways are a feature in Power BI to connect to your on-premises data sources without having to migrate the data into the cloud. You can think of a Power BI gateway as a kind of “bridge” between legacy on-premises data and your Power BI software in the cloud. Gateways can also connect on-premises data with other Microsoft cloud services such as Power Apps, Power Automate, Azure Analysis Services, and Azure Logic Apps.

Why should businesses use Power BI gateways instead of migrating on-premises data into the cloud? There are several good reasons to keep data on-premises:

  • You may be required to keep certain data on-premises due to certain laws, regulations, or standards.
  • Your on-premises assets may be highly entangled and difficult to sort out, forcing you to keep data on-premises for at least the time being.
  • The costs of storing data in the cloud (especially the costs of data egress) can be prohibitive for organizations that have already purchased an on-premises server.

 
No matter the reason, using Power BI gateways gives you a more complete picture into your enterprise data, helping unite your cloud and on-premises information under one roof.

Power BI gateways come in two different types: standard and personal mode.

  • Standard gateways allow multiple users to connect to multiple on-premises data sources, and use them with all the Microsoft services listed above—both Power BI as well as Power Apps, Power Automate, etc.
  • Gateways in personal mode only allow a single user to connect to multiple on-premises data sources, and can only be used with Power BI. This setting is preferable for situations where users do not need to collaborate or share data sources

Tips and Tricks for Power BI Gateways

Although Power BI gateways are fairly quick and easy to install, using them effectively for maximum Power BI performance can be a little more challenging. Below are a few questions you need to consider when using a Power BI gateway:

  • Should you register the gateway with a Power BI user account or service account?By default, gateways are configured to use the NT SERVICE\PBIEgwService Windows service account.
  • Does the organization need more than one gateway?Although one gateway per data source is usually sufficient, there are situations where you may wish to use more than one. For example, if you have a gateway with a live connection to a data source, you can experience performance downgrades when you use the same gateway for scheduled data refreshes.
  • Do you need features such as alerts, monitoring, and data refresh failover capabilities?
  • How often should the gateway receive maintenance and upgrades?
  • Who is responsible for administering the gateway’s operations?

 
Once installed, Power BI gateways should be regularly managed and monitored in order to optimize their performance. Traditionally, Power BI users have manually monitored gateways with Windows Performance Monitor. In 2019, however, Microsoft released features for additional query logging, as well as a Gateway Performance PBI template file for visualizing the results.

Solving the issue of slow-performing Power BI queries may require you to look at 4 different gateway log files:

  • The query execution file contains information about each query sent through a gateway to an on-premises data source.
  • The query start file contains information about the start times of each query.
  • The query execution aggregation file groups data by query type, query status, and data source.
  • The system counter aggregation file contains performance data about the system’s CPU and memory resources.

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Power BI for Mid-Market Companies

Searching for more insights on how to get the most from your Power BI performance? As a Microsoft Gold Partner with years of experience in Power BI, we’ve got just the thing for you. Check out our white paper to learn how you can better integrate Power BI into your organization.

The post Secrets of Power BI Performance: Power BI Gateways appeared first on Datavail.

AppDev 101: What’s the Difference Between a Scrum Master and a Project Manager?

If you’ve used traditional project management approaches, such as the waterfall methodology, you’re familiar with the role of a Project Manager. In the agile world, projects don’t typically have a Project Manager role, but there is a Scrum Master role. While those two roles may sound the same, there really are differences between the two.

The Roles in an Agile Environment

There are typically three main roles in an agile project. People in those three roles are directly involved in producing a final product.

  1. Product Owner

    The Product Owner is the leader of the project, and as defined in the Scrum Guide, is responsible for “maximizing the value of the product.” The Product Owner is responsible for:

    • defining the Product Backlog, which identifies a prioritized list of the requirements that the team must complete to produce the final product
    • ensuring that the Development Team understands the items in the Product Backlog
    • ensuring that the Development Team optimizes the value of their work

     
    An effective Product Owner is the champion for the product and has the authority and communication skills to make the project a success. The Product Owner should:

    • have decision-making power where the product is concerned
    • have in-depth insight into the business and its market
    • know the customers the product will serve
    • can communicate persuasively to the Project Team and stakeholders

     
    Stakeholders don’t have a specific role in the project execution, but they are critically important to its success. Stakeholders are those people who will be affected by the project. While the Project Team may interact with the Stakeholders, the Product Owner has overall responsibility for correctly identifying all relevant Stakeholders and managing the relationship with the stakeholders to keep everyone on the same page.

  2. Development Team

    The Development Team consists of professionals who deliver an increment of work that can potentially be released at the end of each sprint. A Development Team is self-organizing, which means that the team works together to determine how to complete the work in each sprint.

    The Team is cross-functional, composed of professionals who represent all the skills the Team needs to complete the work. However, the Team doesn’t break out into sub-groups. As a group, the Team is accountable for the work that is completed.

  3. Scrum Master

    The Scrum Master fulfills a role often called a Servant Leader because the Scrum Master serves the Product Owner, Development Team, and the Business.

    The Scrum Master and the Product Owner. The Scrum Master works with the Product Owner to ensure that the Team understands the goals of the project. The Scrum Master also identifies ways to effectively manage the Product Backlog and helps the Product Owner prioritize the Backlog to maximize value.

    The Scrum Master and the Development Team. The Scrum Master coaches the team in the application of the agile methodology, removes roadblocks, and helps the Team create high-value products.

    The Scrum Master and the Business. The Scrum Master helps employees and Stakeholders to understand how the development process works and how they can support the process, and identifies and implements changes that must be made organizationally to ensure success.

    Scrum Masters are experts in the agile methodology and how scrum is used; their key responsibility is to ensure the effective application of the agile/scrum methodology. Scrum Masters lead scrum events such as daily meetings and Sprint Demos. They ensure that Stakeholders and other attendees understand why they need to attend specific events and what their role is during the events. In addition, they ensure that event attendees don’t disrupt meetings.

What’s the Difference Between a Scrum Master and a Project Manager?

The role of a traditional Project Manager is much different than that of a Scrum Master. To understand that difference, it’s useful to review what a typical Project Manager does. The definition of Project Managers is very broad, but these are some of the things they may do:

  • Develop a business case for the project
  • Create project plans
  • Assign work to team members
  • Track progress and manage quality
  • Manage change requests

 

Project Managers are experts at managing the moving parts that comprise traditional projects such as a waterfall project. They are focused on managing personnel, timelines, and ensuring that the final product meets the stated project requirements.

How are the Roles Different?

There are many differences, but there are certain key issues that differentiate a Scrum Master from a Project Manager.

  • The Scrum Master is responsible for ensuring that the agile practices the Development Team uses brings out the best in the Team. The Team and the Product Owner are responsible for producing a product that meets the customer’s requirements. The Project Manager is project-oriented and is responsible for the project’s success or failure.
  • The Scrum Master is a Servant Leader who supports the Product Owner, Development Team and Business to ensure that agile principles are understood and implemented. The Project Manager is a leader who has the skills to lead the project to a successful conclusion.
  • The Scrum Master must be an expert on agile practices with the ability to support others in using those practices effectively. The Project Manager is the holder of knowledge about managing a project and supports others in completing their part of the project.
  • The Scrum Master isn’t necessarily working on one project full-time and can be available to handle other tasks. The Project Manager is full time on one or more projects.
  • The Scrum Master typically uses a collaborative leadership style. The Project Manager typically uses a top-down leadership style.

What are the Ideal Individuals to Fill These Roles?

If you’re looking for an ideal Scrum Master or Project Manager, there are some things that both individuals need. Communication is an important trait for either a Scrum Master or Project Manager. Both individuals will need to communicate effectively with a wide range of people, including Stakeholders, team members, management, customers, users, and more.

Leadership skills are critical for people in either role, even though their leadership styles are usually different. Both a Scrum Master and a Project Manager must also have excellent organizational skills.

Scrum Masters. These individuals must be agile experts who can train if needed, and coach and/or facilitate others in using the agile principles. They must also be good at coaching. The Development Team, Product Owner, and Stakeholders will need to work with a Master who is good at helping people change their mindset when necessary and who can create relationships that make it easy to give advice and support.

Scrum Masters also need to understand the Servant Leader principles. They must lead by example to embody the attitudes and behavior that make the agile methodology work effectively.

Project Managers. An effective Project Manager must understand and be able to orchestrate a project based on using project management tools such as Project Plans, Gantt Charts, and more. They must have good time management skills to meet timelines and to help the team manage their workdays.

Negotiation skills are also important to Project Managers to ensure that the project stays on track. For example, they may need to negotiate with users, and customers to manage changes so that the team can meet deadlines. They also need to manage other risks that could threaten the success of the project.

Whether you’re using the waterfall or agile methodology, the success of your project will depend to a great extent on the person leading it. There are other issues that are critical to address to ensure the success of your application development project.

Read This Next

4 Reasons Why Application Development Projects Fail

You’ll learn about the top four reasons why projects fail, and review seven solutions that can help you avoid the high cost of failed projects.

The post AppDev 101: What’s the Difference Between a Scrum Master and a Project Manager? appeared first on Datavail.

U.S. Telecom Company Completes Oracle EPM 11.2 Upgrade

In this blog post, we feature a client that is a U.S. telecommunications company with 10,000 employees across multiple countries, offering a variety of communications and network infrastructure services. As a long-standing customer of Oracle applications, the client has been working with Datavail for more than 10 years. In this case study, we discuss how Datavail helped the client complete one of the first successful Oracle Hyperion Enterprise Performance Management (EPM) 11.2 upgrades in the United States.

For a deeper dive look you can download the case study.

Problem

First released in January 2015, Hyperion EPM 11.1.2.4 is scheduled to reach its end of support (EOS) date by the end of 2021. Hyperion users who don’t upgrade to Oracle EPM 11.2 before December will need to purchase Oracle’s Extended Support plan so that their software doesn’t fall out of compliance—but this is only intended as a stopgap measure until you complete the upgrade.

Oracle upgrades are complex, involved projects that need to be planned and budgeted for well in advance. With Hyperion end of support coming up soon, the client knew they didn’t have a moment to waste. As one of the client’s long-standing IT partners, Datavail was the natural choice to complete this upgrade.

Solution

Datavail helped the client through every step of the upgrade process, from roadmaps and strategic planning to post-launch support and maintenance. Although Datavail can assist with both cloud migrations and on-premises upgrades, the client decided to remain on-premises with Oracle EPM 11.2 for reasons of simplicity and cybersecurity. The stages of the EPM 11.2 upgrade included:

  • Requirements gathering and discovery
  • Validating servers and hardware (including tweaks, optimizations, and sanity checks)
  • Downloading and installing EPM 11.2
  • Installing, configuring, and migrating a variety of Oracle services (including Hyperion Foundation Services, Essbase Administration Services, and Hyperion Provider Services)
  • Building test and production environments
  • Implementing Oracle Lifecycle Management (LCM) backups

Results

Thanks to Datavail’s help, the client has achieved the following results from its EPM 11.2 upgrade:

  • Greater peace of mind, with no obligation to upgrade until Premier Support for EPM 11.2 expires in December 2030.
  • An easier upgrade to the upcoming “EPM 11.2.X” version, which Oracle will support through at least 2030.
  • Access to the Continuous Innovation release model on the EPM platform, which offers new application updates without needing to upgrade middleware technology.
  • Continued EPM managed support – the client signed on post-upgrade due to our exemplary delivery of the 11.2 upgrade.

 
Datavail is an Oracle Platinum Partner with 17 different specializations. We help clients at all stages of their Oracle journey, from installing the software to in-depth consulting about performance issues. Our Hyperion EPM services include:

  • Cloud and on-premises implementations
  • Upgrades and migrations
  • Establishing an internal Center of Excellence (CoE)
  • Infrastructure support and maintenance
  • Scheduled health checks
  • Enterprise consulting and advisory services

 
Need to perform your own Hyperion upgrade? Time is of the essence. Get in touch with our team of Oracle experts for a chat about your business needs and objectives.

Read This Next

It’s the Eleventh Hour for Hyperion 11.1.2.4 — Here’s What to Do

Hyperion EPM 11.2, the first major release of Hyperion in five years, reached general availability in December 2019. With all the excitement of this long-awaited release, it was also the beginning of the end for Hyperion 11.1.2.4, the previous version of the software, which will reach its end of support date in December 2021. So what should you do?

The post U.S. Telecom Company Completes Oracle EPM 11.2 Upgrade appeared first on Datavail.

The Top 6 Factors to Consider for an Oracle Hyperion EPM Cloud Migration

The end of support (EOS) date for Oracle Hyperion EPM 11.1.2.4 on-premises is scheduled to arrive at the end of this year in December 2021. Beyond this date, EPM 11.1 users will fall out of compliance, exposing themselves to security vulnerabilities and missing out on new features and functionality.

 

Current Hyperion EPM 11.1 customers have two options: upgrade to EPM 11.2 on-premises or migrate to the Oracle Hyperion EPM cloud. But which alternative is better for your own business needs and objectives? In this article, we’ll go over the 6 most important factors to consider with an Oracle EPM cloud migration so that you can make the choice that’s right for you.

 

  1. Business requirements

    How well does your current on-premises Hyperion deployment fit with your business requirements? Is the software meeting your expectations in terms of speed, availability, security, performance, reliability, and scalability? Would migrating to the cloud let you meet more of these requirements?

  2. Business risk

    What business risks do you face, either by staying on-premises or moving to the Oracle cloud? If you’re happy with your on-premises deployment, undergoing a cloud migration could seem like an unnecessary risk. On the other hand, the cloud also offers advantages such as data backups and better disaster recovery and business continuity, which can help lower the existential risk to your business.

  3. On-premises size and complexity

    If your on-premises IT environment is highly complex with a large footprint, migrating to the cloud is an excellent way to slim it down. However, this complexity will also likely make such a move more challenging—so you’ll need to carefully consider your choice of Oracle cloud migration partner.

  4. Legacy IT

    Do you rely on legacy IT applications and services in your Hyperion environment? Make sure that moving to the Oracle cloud will let you keep these integrations intact—or free you from the need to maintain them.

  5. Time, money, and effort required

    How much time, money, and effort can you devote to an Oracle cloud migration project? Will investing these resources now pay off in the long run? How does the investment required compare with an on-premises upgrade? Recall that Hyperion on-premises must be patched and upgraded regularly, and      migrating to the Oracle EPM cloud will free you from this obligation. New updates are rolled out smoothly, and Oracle is responsible for support and maintenance.

  6. Future plans

    How does a cloud migration, or an on-premises upgrade, fit with your business in the short and medium term? For one, Oracle has guaranteed that it will continue supporting Hyperion 11.2 on-premises through at least 2030, which gives you plenty of time to think over your next steps. On the other hand, Oracle has clearly become a cloud-first company, with new features and functionality rolled out to the cloud before they reach the on-premises equivalents.

Conclusion

From business risk to time and budget concerns, there are many factors to weigh when considering an Oracle EPM cloud migration. Make sure that you choose an Oracle cloud migration partner who can help with the technical aspects of the project and help with advice, roadmaps, and strategic planning for your organization.

As an Oracle Platinum Partner with 17 different specializations, Datavail is uniquely qualified to help advise companies on their next steps with Hyperion EPM. Looking for an Oracle managed services partner who can help you upgrade from your EPM 11.1 deployment? Check out our white paper “4 Ways Datavail Prepares Companies for EPM 11.1 EOS.”

The post The Top 6 Factors to Consider for an Oracle Hyperion EPM Cloud Migration appeared first on Datavail.