What does financial data management software actually do?
Hyperion System 9 Financial Data Management is very similar to the former UpStream WebLink DM software, with some additional features for managing tax data added in the new release, according to John O’Rourke, senior director of product marketing with Hyperion. The software, released on June 26, manages financial data collection and validation processes. It has workflow management and data quality features to assist with collecting, mapping, moving, validating and reporting on financial data. Finance offices within an organization can use the tool’s Web-based user interface to upload data, or data can be batch loaded, O’Rourke explained. The software automatically checks for data-quality errors, such as missing or duplicate data or the wrong currency format. Then, data can be prepared, mapped and transformed for reporting or loading into another target system. Hyperion’s announcement also touted the potential advantages of coupling the new financial data quality management product with
