all you need to know about oracle epm cloud analytics
  • March 1, 2022
  • Subramanyam Sripada
  • 0

What is Oracle EPM Cloud?

So, many organizations are asking, what is Oracle EPM Cloud? And how can it optimize my business? Oracle EPM Cloud Service provides end-to-end workflows and business processes to operate effectively in any market condition. With Oracle EPM Cloud, you can automate your financial close and drive integrated planning across the enterprise – finance, human resources, sales, marketing, and supply chain.

Understanding Different Oracle EPM Cloud Modules

Oracle EPM Cloud modules are specifically designed to manage each of your EPM processes, including planning, profitability and cost management, data management, and more.

Planning

Oracle EPM Cloud helps you develop data-driven, connected plans across your enterprise and better prepare for future needs. You can navigate uncertainty more effectively and take advantage of out-of-the-box best practices to analyze the impact of changes across the enterprise.

Profitability and Cost Management

Oracle EPM Cloud provides deep insights into your costs and profitability, enabling you to identify your most profitable or unprofitable products or business units and make more informed decisions about your future business needs.

Financial Consolidation and Close

Oracle EPM Cloud helps you close your books faster by adapting quickly to evolving business needs and delivering accurate reports with improved compliance. You can utilize out-of-the-box functionality to streamline and automate end-to-end financial close tasks.

Account Reconciliation

Oracle EPM Cloud helps companies streamline account reconciliation and transaction matching to achieve greater efficiency and accuracy of their financial statements. Oracle EPM Cloud also improves security and reduces the risks typically associated with the account reconciliation process.

Tax Reporting

Oracle EPM Cloud helps you align your tax processes with financial reporting for greater visibility and better compliance. You can improve compliance with statutory tax reporting regulations such as US GAAP, IFRS, and more while ensuring complete transparency of your financial data. Configurable dashboards and reports help you deliver advanced reporting to your leadership and business users.

Why are companies moving to Oracle EPM Cloud?

Oracle EPM Cloud services offer several advantages, including greater flexibility, agility, scalability, and availability compared to on-premise Oracle Hyperion or other EPM applications. We have listed some of them:

No Upgrades

The latest Oracle EPM Cloud updates will be installed automatically, eliminating the need for costly upgrades and ensuring that your applications are always up to date.

Lower Costs

On-premise EPM systems need expensive hardware and resources to operate. Cloud-based EPM systems like Oracle EPM Cloud run on a subscription model to pay-as-you-go and reduce upfront expenditure.

Scalability

Oracle EPM Cloud services can help your business scale quickly and cost-effectively, whether you need to quickly scale operations, multiply your user base, or expand to new geographies – made easy with country-by-country templates.

Data Security

Oracle EPM Cloud offers robust data security as Oracle fully manages it. Automatic security patches and updates improve data privacy and ensure that your applications are always secure and up-to-date with the latest functionality.

User Experience

Oracle EPM Cloud provides an intuitive, easy-to-use interface with real-time data access for decision-making. A personalized experience also drives user adoption.

Seamless Integration

Oracle EPM Cloud offers advanced integration capabilities to help you quickly integrate with existing Oracle and non-Oracle solutions to extend functionality and simplify your business processes.

Standardized Processes

Oracle EPM Cloud offers advanced functionality out-of-the-box, minimizing the need for customization and driving standardized processes across the enterprise.

Flexible Deployment

Oracle EPM Cloud can be deployed entirely in the cloud or coexist in a hybrid model with your existing applications – both SaaS and on-premise.

Innovation

Oracle EPM Cloud is designed to support emerging technologies like artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) to stay ahead of the competition and meet future requirements.

Mobile Capabilities

You can access the data in Oracle EPM Cloud in real-time from any device, providing real-time insights to your employees for faster and better decision-making.

Architecture

Oracle EPM Cloud services are built on the advanced and flexible Oracle Cloud architecture, supporting a wide range of applications with Oracle and third-party integrations.
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