Modernizing Beyond HFM: Finance 2035

Oracle Hyperion Financial Management (HFM) has provided stability for years. But stability without innovation can quickly become stagnation.

With Oracle signaling limited evolution for HFM 11.2 and focusing attention on its Cloud EPM suite, finance leaders face a crossroads: stay the course, upgrade incrementally, or redefine their strategy entirely.

So, what are today’s CFOs choosing, and why?

The new reality for finance leaders

In OneStream’s Finance 2035: Return to Investment report, CFOs described a future defined by speed, connectivity, and data confidence.

• 65 % said expectations on CFOs have multiplied in just the last five years.

• 74 % believe AI and automation will completely reshape finance functions by 2035.

• 70 % of CEOs and CFOs agree that companies failing to invest in technology, infrastructure, and skills will not survive the next five years.

The message is clear: maintaining legacy systems may keep operations running, but it limits agility, visibility, and return on investment.

What investors expect from the modern CFO

The same study found that investors now view the CFO as a primary growth driver.

78 % said CFOs must demonstrate technical, operational, and strategic competence to earn confidence. And on average, organizations led by a strategic CFO attracted 2.6 % more investment.

Investors are rewarding leaders who unify their data, strengthen governance, and translate financial insight into action.

That requires platforms built for real-time analysis, not static reporting.

Barriers standing in the way

Despite the opportunity, CFOs face familiar constraints:

• Siloed data (70 %) — fragmented systems restrict visibility and slow decision-making.

• Legacy technology (72 %) — aging applications rely on manual workarounds.

• Talent gaps (78 %) — finance teams often lack the tools or bandwidth to innovate.

Sound familiar? For many HFM users, these are daily realities.

Disconnected modules, heavy Excel dependence, and limited analytics create barriers that no amount of patching can fix.

From static systems to strategic platforms

Modern CFOs are moving beyond incremental upgrades. They’re consolidating financial close, planning, forecasting, and reporting within a single unified platform, built to deliver one version of the truth across the enterprise.

OneStream Software, designed by the original architects of HFM, provides that unified foundation.

With integrated data models and governed workflows, finance teams gain real-time visibility into performance while reducing IT overhead.

Scenario modeling, driver-based forecasting, and AI-assisted insights replace manual reconciliations and fragmented spreadsheets.

It’s not just a technology shift, it’s a strategic one.

How Nova Advisory helps

At Nova Advisory, we guide CFOs through this decision with a practical, data-driven approach.

Our team combines deep OneStream expertise with a proven finance-transformation methodology focused on people, process, and scalability.

We help you:

• Assess your current Hyperion footprint and modernization readiness.

• Align business objectives with future-state architecture and data governance.

• Accelerate migration through a phased plan that minimizes risk and disruption.

The outcome: a unified finance platform that enhances agility, strengthens control, and unlocks long-term value.

The next move

If your organization is still running HFM, now is the time to look ahead.

Schedule a meeting with Nova Advisory to explore a roadmap from HFM to OneStream.

Read the full Finance 2035 Report or tune into Nova’s CPM Customer Success Podcast for real-world insights from finance leaders modernizing today.

Hear More on Nova's CPM Customer Success Podcast. 

Finance 2035: The Rise of the Investable CFO – Episode 85