Every Now and then i have been asked this question about what is FDM and why its used for, so i thought of sharing this.
Oracle/Hyperion Financial Data Quality Management (FDM as affectionately known) is an out-of-the-box Data Transformation Tool that feeds source-level financial data to consolidation, reporting, planning, and analytical applications. More than just a data translation tool, FDM provides an audit trail to the source financial data, helping to ensure data integrity and mapping consistency that allows for easy reconciliation of financial data. Providing an audit trail to the source financial data saves end-users, administrators, and auditor’s time associated with data error investigation, identification, and correction.
FDM offers a consistent, end user-friendly environment that provides a uniform data collection process for all reporting units within the organization. Hyperion FDM also contains financial controls functionality to assist corporations with their internal financial controls process.
FDM features and benefits include the following:
- Acting as a central repository of all source financial data.
- Drill-down audit trail
- Ability to archive source files, error logs, and load files
- Internal controls assessment and certification feature aids in compliance with sections 302 and 404 of the Sarbanes-Oxley Act
- Corporate-wide process monitoring
- Ability to import source data from any formatted text file or data source
- Multiple dimension mapping and validating capability
- Data validation and quality checking
- Error identification and notification
- Consolidation of target system data
- Validation and reporting on target system data
- Load adjustments capability through Excel journals
- Budget data loading for multiple periods
- Advanced reporting and audit functions
- “Lights out” batch loading