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Created on Friday, 25 April 2008 18:59
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Written by Larry Grey
This session is intended to discuss OBIEE as it relates to financial services. It was nice to see as much demo-ing as they did. It was also nice to see more of the features of OBIEE highlighted, especially the ability to create a very useful semantic view of the data that users can understand.
Room was full. About 200-300 people. Standing room only.
Dan Blankenship on FSI user group board - was also in pervious session. He introduced Steve Burns, who is on the Financial Services team at Oracle.
Session started by querying the audience. Most of attendees raised hands when asked if used PeopleSoft for back-office. Only a couple who used eBusiness suite.
OBIEE plus.The session began by introducing OBIEE plus as the technology platform for providing anlaytics in this area. Steve started by talking about semantic model in OBIEE. Put logic into semantic layer.
Listed Golman, Wachovia, Axa as organizations using OBIEE. Leverage investments you've made in data source.
Talked about strategy of bringing together hyperion, peoplesoft and other acquisitions. (Operational BI, Enterprise perormance management, transaction systems). With the addition of the ability to access Essbase content within an OBIEE meta-model, this tool is now able to bring all this together for a single, cohesive solution that encompasses the different back-office systems.
Solutions SpaceSteve, then went on to cover more about how they think about financial services from an analytic application perspective. Financial services organized into 4 areas: profitability, performance, risk management, and compliance. Below are some of the notes that I captured for a few of these areas:
ProfitabilityUsed Fidelity as an example company that looks at customer profitability.
Showed screenshots with lots of charts and supporting details. Very analytic focused gtoing from high level to lower levels.
Credit suisse was listed as customer of OBIEE as well.
Risk managementGoldman Sachs, Credit Suisse and Bear Stearns listed as users of compliance solutions.
Features and FunctionsThey quickly went into a demonstration of a few of the areas and how the content that they're putting into OBIEE can solve many of these business poroblems.
Pervasive information delivery
- interactive dashboards
- ad-hoc query
- detections and alerts
- production reporting
Pervasive delivery
- financial reporting
- office
- disconnect and mobile anlaytics
- desktop gadgets
They also made a lot about the ability to drill from a report or analysis back into the transaction system. This feature is very similar to what we've
blogged about for PeopleSoft reporting tools. I wonder if they've thought about taking this to the next level (like
hoverboards)?
They moved on to demo drilling from report into more detail (starting from dashboard). Because they've pre-defined the path, they call this guided navigation.
They moved on to show how a user could start with a dashboard, extend a report, and add it to a personal dashboard. They didn't cover the administrative aspects of people creating their own dasboards, but it was cool seeing them do it. The functional area demonstrated was payables, where they started with 2 gauges and then drilled from one of them into a report.
The continued by demoing modifying the report (adding a chart). They then showed creating a new report and adding it to a dashboard. Positioned that business users can do this (do not need to get IT involved).
SummaryThis was one of the better OBIEE presentations I've seen. One area I'd like to see more is a comprehensive story about how people will be able to snap these new applications onto their existing ERP solutions. This may not make sense in this presentations, but I believe that one of the primary factors in making a purchasing decision for OBIEE versus the products sold by other BI vendors is the effort to get it up and running (and really demonstrating to folks how these new applications are going to provide a seamless integration with their existing solutions... right now, I see a lot of hand-waving going on instead of showing exactly how this will work across data models of different releases of Siebel, PeopleSoft, and e-Business suite).
Labels: 2008, Collaborate, Events
Collaborate Day 1 - Session A45350: Financial Services Industry Update
Presented by: Eric Dickmann, Financial Services
Because so many of our customers are part of the Financial Services SIG, I wanted to make sure I attended this session to see what was going on here (especially since last year Amira Morcos had mentioned that there would be a business unit and general manager for this practice).
Eric is the new General Manager of the financial services IBU (discussed in this blog entry)
It was interesting to see the difference between approaches of PeopleSoft and Oracle to the Financial Services industry. Eric went through his solutions map for all 3 areas in financial services: Banking, Insurance, and Capital Markets. Where PeopleSoft focused primarily on the analytics and back-office solutions, Oracle will approach the market across all aspects of the industry including the front-office and point of sale systems (which is something PeopleSoft didn't address).
General Strategy
He described the goals of the financial institution within the following categories:
- Customer intimacy
- Competitive differentiation
- Cost effectiveness
- Compliance to regulation and risk mitigagion
- Service and speed are differentiation in industry.
He descripbed the execution strategy of his group as follows:
- Process driven
- Pre-built
- Ineroperable
- Flexible
Oracle's approach will be to assemble existing assets. Also to provide mulitiple deployment options for customers that include hosting, packaged products, or tools and custom applicagtions.
These solutions will cover all the way from front office to back office. Showed the product footprint for different areas - solution maps. These are available at http://www.oracle.com/industries/financial_services/index.html .
Product
From a product perspective, the solution will cover the following main areas
- pre-built integrations for a ccount origination
- Governance, risk, and compliance for financial services
- advisor desktop
- claims management
- profitability and asset/liability management analytics (new products)
- flexcube with oracle identity managmeent
Compliance
On the Compliance side, the solution will include GRC for banking, insurance, capital markets, covering
- sox
- mifid, regnms
- operational risk
- compliance risk
- basel 2 and 1a, solvency 2
- aml, kyc, fraud prevention
Role of Siebel
Siebel looks to be a very important part of the financial services strategy:
- Siebel will cover a good amount of the back-end systems, such as Siebel CRM as bck-end for account origination (this will integrate with i-flex's flexcube for identity management).
- Siebel CRM on demand for advisor desktop. first pre-built hosted crm solutions for wealth management. web services. shows user interface and analytics.
- Enterprise claims management solution - partof siebel 8. claims management, context management, financial hub, back office.
For dashboards, Eric showed a few dashboards related to SOX and gauges of status of controls. powered by the OBIEE framework. He did not discuss where data is coming from and said that this is new. This means that PeopleSoft's solutions in this space is not going to be part of this solutions map.
Profitability - this is where PeopleSoft was strong. Instead of using PeopleSoft EPM, Risk Weighted Capital, and Funds Transfer Pricing, Oracle will be using OFSA and OBIEE as the solution for this.
Questions:
| Question |
Answer |
| Can you talk more about what's going on with PeopleSfot financial servces side? |
If you're a PeopleSoft customer, you will continue to be supported by applications unlimited. HCM will continue to be a focus area for PeopleSoft. |
| I'm another PeopleSoft Customer. Can you tell me more about what I can expect as a PeopleSoft customer about Fusion? |
Everything you saw in this presentation is based on Fusion. |
What I saw missing
I didn't see any mention of PeopleSoft EPM or the financial services analytic applications that were hosted on the EPM warehouse. I also didn't see any recognition of role of PeopleSoft GL in financial services organizations who are part of this Industry Group. By reading between the lines, it looks like the development team at Oracle isn't going to be focused on these areas, even though the the vast majority of attendees (>80%) categorized themselves as PeopleSoft customers.
Summary
It will be interesting to see how this strategy plays out. The Oracle solutions map is definitely much envcompassing than PeopleSoft's, especially in the banking and CRM areas. This could be a good opportunity for them. With respect to corporate performance management, compliance, and analytics, I think that Oracle will have a challenging time getting traction with much of the members of the industry group until they come up with a better story for organizations using PeopleSoft Financials and EPM. From an engineering perspective, I believe packaging analytics in OBIEE that are targeted specifically to EPM (funds transfer pricing, risk weighted capital, etc), as well as PoepleSoft Financials will allow them to extend existing solutions with new products and features versus leaving it up to the customer to figure out how to accomplish this themselves.
Labels: 2008, Collaborate
2008 | collaborate
