There appears to be a lot misconception about what the DRM tool really is and where and how it can be used. Client’s tend initially to narrowly focus on how they are going to use the product and use that information to develop an initial impression of exactly what the tool really is.
Some say it is a hierarchy management tool; some say it is a functional hub that manages and feeds metadata to multiple Hyperion products. Still others see it as a strategic organizer for an organizations metadata that can then be used to integrate with the operational data within an organization.
The truth is: DRM is all of these things and more. Oracle currently markets DRM as part of it’s over all Master Data Management suite of Master Data Management tools. It is the recommended tool of choice for organizing the financial views of financial chart of accounts, cost centers and legal entities that are then used to govern on-going financial management and consolidations for an enterprises. In most cases these very narrow, focused views of what DRM brings to the table change very quickly once clients gain familiarity and expertise with the tool The new views are broader and based on consistent definitions of financial and reporting structures across general ledger systems, financial consolidation, planning and budgeting systems. All of the new functional definitions are enforced by the verification and validation functionality of the tool.
DRM is also an Analytical Master Data Management tool. It allows creation of an enterprise view of analytical dimensions, reporting structures, performance measures and their related attributes. It helps an enterprise build departmental perspectives that bear referential integrity and consistency with master data constructs based on validations and business rules that enforce enterprise governance policies. This functionality allows synchronization of an enterprise’s master data with downstream systems and facilitates integration with an organization’s business intelligence (BI)/enterprise performance management (EPM) systems, data warehouses and data marts.
DRM’s functionality does not end there. Client’s have further found innovative uses for the tool that include:
- Creation of a standard set of metadata that will feed the entire Oracle Hyperion EPM Suite of Products from a centralized data repository that has integrity enforced by business rules and validations.
- Creation of cross reference tables that can be used to build consolidated reporting models for disparate systems such as an enterprises’ Oracle and SAP general ledger systems.
- To make needed data enhancements that are pushed to downstream systems without incurring the long development cycle time required to make changes in the operational systems of an organization
As you can see from the information provided, DRM is an extremely flexible tool that has applicability in many functional areas of an organization. Uses of the product are only limited by the imagination of the implementer.
In our next blog posting we will be discussing in great detail how DRM enhances EPM solutions, how TopDown Consulting implements the tool to enhance it’s EPM solutions. We will also be providing details of actual client use cases highlighting the ability of the product to be used in non-traditional ways to manage and organize an organizations key master data.
Will follow more basics in next Update and more about DRM.