Schiff may know a thing or two about Hyperion as he was the second hire at the company back in the 1980s.

While Oracle is spending R&D dollars on integration with ERP, most large companies see the major benefit from single-solution providers in the fact that all of their research and development dollars are focused on PM.

"Because PM is a strategic front-office solution with high visibility, it is not an area you compromise on," said Schiff.

Not all analysts agree, however. Despite the delight expressed by vendors spoken to for this report, Josh Greenberg, principal at Enterprise Applications Consulting has a different point of view: "Competitors should be worried."

According to Greenberg, Hyperion lets Oracle have a conversation with the financial management of a company, the C-level executives. Hyperion plus a big ERP suite can be potentially a lucrative and competitive combination if it can make sense in the context of what Oracle already has.