Have No Fear, More Custom Dimensions in FCCS Are Here!
Has your company considered moving to the cloud with Oracle’s Financial Consolidations and Close Cloud (FCCS), but were concerned by its limits on custom dimensions? Well, today’s your lucky day! Long awaited by customers and consultants alike, Extended Dimensionality is now available in FCCS.
What you need to know:
FCCS now supports up to four (4) custom dimensions – three (3) if you enable the out of the box Multi-GAAP reporting.
This is in addition to the out of the box Source and Movement dimensions, which would typically occupy custom dimensions with on premise HFM.
For the time being, you will need to request this functionality through Oracle Support, with individual patching slated to begin within the next couple of weeks.
If you have an existing application, you will need to recreate it in order to take advantage of Extended Dimensionality.
You cannot use application Snapshots to migrate between applications with and without this enabled.
We are excited at the possibilities that this most recent patch opens up for our clients. We have heard from some clients that the prior limitation was a deal breaker for them when considering upgrading from HFM to FCCS, and now that has been alleviated.
One pitfall we recommend avoid falling into, however, is adding additional custom dimensions just because they are available. It is important to carefully consider the true core reporting needs that the application needs to satisfy, and tailor the dimensionality to those needs. Adding additional dimensions just because you can, even if they are not needed, only adds overhead to the application and increases complexity.
With this hurdle out of the way, contact us today to schedule an FCCS demo.