Your approach to financial planning and budgeting will change significantly if you go from IBM TM1 to Oracle’s Enterprise Planning and Budgeting Cloud Service (EPBCS). While both systems are strong, their features and functionalities differ. Through a thorough walkthrough of the necessary procedures and factors to take into account, this technical guide will help you maximize the benefits of EPBCS with the least amount of disturbance.
Why Migrate from IBM TM1 to EPBCS?
You should know why you would want to switch from IBM TM1 to EPBCS before beginning the migration procedure. Major advantages of EPBCS consist of:
- Cloud-Based Accessibility: By providing a cloud-based solution, EPBCS lessens the requirement for infrastructure and upkeep on-site.
- Improved User Experience: With cutting-edge analytics and reporting features, EPBCS offers a contemporary, intuitive interface.
- Integration with Oracle Ecosystem: Optimal financial management can be achieved through smooth integration with additional Oracle Cloud applications.
Preparing for Migration
Successful migration begins with thorough preparation. Here’s a checklist to ensure a smooth transition:
- Assessment and Planning
- Current Environment Analysis: Assess your existing TM1 environment, including data models, processes, reports, and integrations.
- Define Objectives: Clearly outline what you aim to achieve with the migration, such as improved performance, new functionalities, or cost savings.
- Stakeholder Involvement: Engage key stakeholders to gather requirements and align on expectations for the new EPBCS environment.
- Data Mapping and Extraction
- Data Inventory: Catalog all data sources, cubes, dimensions, and metadata in TM1.
- Mapping Strategy: Develop a mapping strategy to translate TM1 data structures and business rules into EPBCS equivalents.
- Data Extraction: Extract data from TM1 in a format suitable for import into EPBCS, such as CSV or Excel files.
- Tool Selection
- Migration Tools: Explore available tools and utilities that can facilitate the migration process. Oracle offers tools like Data Management for data integration and Essbase Studio for model migration.
Migration Process
- Model Design and Configuration
- Recreate Data Models: Rebuild your data models in EPBCS, taking advantage of its multidimensional capabilities and predefined frameworks.
- Define Business Rules: Implement business rules and calculations in EPBCS using its calculation scripts and rule editor.
Example: If your TM1 model includes complex allocation rules, you’ll need to recreate these rules in EPBCS using Calculation Manager or Groovy scripts.
- Data Import and Validation
- Data Import: Load your extracted data into EPBCS using Data Management or Integration tools. Ensure that the data is accurately mapped to the new data structures.
- Data Validation: Perform thorough validation to ensure data integrity. Compare data from TM1 with data in EPBCS to identify any discrepancies.
Example: Run validation reports and compare key metrics from TM1 and EPBCS to confirm that data has been migrated correctly.
- Rebuild Reports and Dashboards
- Report Migration: Recreate reports and dashboards in EPBCS using its reporting tools, such as Smart View and Financial Reporting Studio.
- Custom Dashboards: Develop custom dashboards and visualizations in EPBCS to match or enhance the capabilities of your existing TM1 reports.
Example: Use Oracle’s Financial Reporting Studio to build detailed financial reports that replicate or improve upon those generated in TM1.
- Integration and Testing
- Integration Setup: Configure integrations with other systems and applications, ensuring that EPBCS communicates effectively with your ERP or other data sources.
- Testing: Conduct comprehensive testing of all aspects of EPBCS, including data accuracy, business rules, reports, and integrations.
Example: Test end-to-end scenarios, such as budget submission and variance analysis, to ensure that all processes function as expected in the new system.
- Training and Go-Live
- User Training: Provide training for end-users to familiarize them with EPBCS functionalities and changes from TM1.
- Go-Live Preparation: Develop a go-live plan, including cutover activities, support arrangements, and communication strategies.
- Post-Go-Live Support: Offer post-go-live support to address any issues and ensure a smooth transition.
Example: Schedule training sessions and create user guides to help users transition from TM1 to EPBCS with minimal disruption.
Post-Migration Considerations
- Performance Monitoring
- Monitor Performance: Continuously monitor the performance of EPBCS to ensure that it meets your expectations and adjust configurations as needed.
- Continuous Improvement
- Feedback Loop: Gather feedback from users and stakeholders to identify areas for improvement and enhance the EPBCS environment.
- Regular Updates
- Keep Current: Stay updated with the latest features and enhancements in EPBCS to leverage new capabilities and maintain system efficiency.
Conclusion
There are a number of benefits to switching from IBM TM1 to Oracle EPBCS, such as increased capability, cloud accessibility, and performance. You can guarantee a smooth transfer by using a methodical strategy, which includes evaluating your present environment, mapping data, and closely supervising the migration process.
Accept the power of EPBCS to open up new avenues for superior budgeting and financial planning. If you’re thinking about migrating, get in touch with us for knowledgeable advice and assistance to ensure a seamless and productive move.
