Effective decision-making and strategic planning are integral to success in the dynamic landscape of modern business. Oracle Enterprise Performance Management (EPM) emerges as a pivotal solution, empowering organizations to optimize their performance through comprehensive planning, budgeting, forecasting, and analysis for core business processes.
As a robust suite of integrated applications, Oracle EPM provides a unified platform that transcends traditional data silos, enabling businesses to align their financial and operational goals seamlessly and scale operations up or down to meet evolving needs.
This article will discuss the transformative capabilities of Oracle EPM, exploring how it enhances performance visibility, supports data-driven decision-making, and empowers enterprises to navigate the complexities of today’s competitive market with agility and precision. We’ll also chat about our Oracle consulting services and offer insight into how our team can help you maximize your investment.
What is Oracle Enterprise Performance Management?
Oracle Cloud Enterprise Performance Management (EPM) is part of the comprehensive Oracle Enterprise Resource Planning suite, enabling more accurate, effective, and collaborative enterprise management.
It offers predictive planning and analysis tools and embedded machine-learning capabilities to reduce manual processes, connect data from disparate sources, and drive greater enterprise efficiency.
Key Features of the Oracle Fusion Cloud EPM System
Oracle Fusion Cloud Enterprise Performance Management makes it easier to model, plan, and forecast enterprise processes and empower better decision-making across teams and departments.
Here’s a closer look at a few critical components of the Oracle Cloud EPM platform:
The Oracle Cloud EPM Platform provides a comprehensive framework of both technical and functional components across various Cloud EPM processes.
By connecting and automating core performance management and financial processes in one place, organizations can simplify business administration across teams and enable a more unified employee experience.
Profitability and Cost Management
With intelligent allocation models for IT financial management, profitability analysis, shared service costing, and tax transfer pricing, the Profitability and Cost Management product enables a deeper understanding of both costs and profitability across the enterprise.
This way, organizations can leverage transparent data to understand the products or lines of business that yield the greatest profit, leading to better profit and cost reporting and more informed decisions.
With the Oracle EPM Planning product, organizations can build connected plans based on industry best practices and advanced technology trends to improve overall enterprise management.
From budgeting and scenario modeling to long-term and line-of-business planning, the Oracle EPM Cloud enables greater visibility, productivity, and profitability across the entire organization.
Narrative Reporting in Oracle EPM offers collaborative tools enabling users to author and publish financial, regulatory, and enterprise management report packages in one platform.
This kind of collaboration and connection between groups makes it easier to stay ahead of internal and external reporting requirements and run cohesive narrative reports.
By consolidating critical tax and corporate financial reporting processes in one platform, the Oracle EPM Tax Reporting product improves visibility and compliance for organizations across industries.
The Tax Reporting solution enables companies to drive more transparent corporate tax processes, such as country-by-country reporting (CbCR) and tax provision, leading to efficient and accurate cost management, tax reporting, and tax compliance operations.
Financial Consolidation and Close
The Oracle EPM Financial Consolidation and Close product offers built-in functionality that covers all critical end-to-end close tasks, enabling companies to adapt quickly to evolving business and industry compliance requirements as needed.
With all critical close information in one place and robust capabilities designed specifically for financial consolidation, this module delivers more accurate and transparent financial reports and helps companies improve overall data integrity.
By leveraging multidimensional planning, reporting, modeling, and analysis tools in the Oracle EPM Freeform product, organizations can create and deploy efficient planning and reporting applications that meet their unique needs.
Oracle Cloud Freeform combines the power of Essbase with the scalability of SaaS to reimagine reporting processes, facilitate effective business structure modeling, and analyze data through intelligent what-if analyses, KPI calculations, slice-and-dice scenarios, and more.
Enterprise Data Management
Oracle’s Enterprise Data Management platform enables companies to take charge of their own enterprise data and facilitate better change management, including change data visualization, data governance, and hierarchy management.
By managing master data more effectively and connecting both Oracle and non-Oracle applications in a single platform, organizations can adapt and respond to change quicker, from migrating to the cloud to facilitating mergers and acquisitions or reconciling differences across data sources.
The Account Reconciliation product facilitates the automation of account reconciliation and transaction matching processes, improving the efficiency of critical financial transactions and accurately addressing related risks.
With connected financial close processes and streamlined reconciliation compliance, Oracle Account Reconciliation enables users to support complex reconciliations, define critical workflow assignments, and facilitate the effective creation and management of enterprise journal entries.
Main Advantages of Oracle Cloud EPM for Users
Here are a few critical benefits of Oracle EPM Cloud solutions for enterprise business users:
Embedded intelligence tools
With embedded intelligence capabilities and built-in analytics, users can access data-driven insights to enable better business decisions and take action faster.
Continuous business planning
Oracle EPM seamlessly connects data from multiple sources across the organization, facilitating continuous business planning, building accurate forecasts, and automatically updating scenarios as the bottom line changes.
Complete cloud services
By extending the breadth and depth of critical financial and operational planning operations, the Oracle EPM Cloud improves consolidation and close efficiency, facilitates more effective data management, and drives greater business value across the entire organization.
Partnering with Our Team
From outlining plans for a new Oracle Enterprise Performance Management implementation to facilitating efficient integrations between Oracle and non-Oracle applications or improving enterprise data management across teams, Surety Systems is here to help.
Our senior-level Oracle consulting team has the technical knowledge and functional expertise to handle your critical project needs and ensure more effective business processes in the long run.
For more information about our Oracle consulting services or to get started on a project with our senior-level consultants, contact us today.