Oracle Cloud Enterprise Performance Management (EPM) helps you model and plan in HR, sales, supply chain, and finance. It also speeds up the closing of the books and helps you make better choices. The platform is a set of technical and functional parts that all Cloud EPM systems can use. It gives users a more consistent experience and makes management easier across all business processes. This blog will delve into the advantages of Oracle Cloud Enterprise Performance Management and discuss its evolution and next-generation features.
Benefits of Oracle Cloud Enterprise Performance Management
There are primarily three main advantages for businesses when using Oracle Cloud Enterprise Performance Management. These are:
- Get more value with the fullest cloud – Financial and business planning, consolidation and close, master data management, and more are just some of the functions that can be used to meet a company’s unique needs.
- Make better choices with the use of embedded knowledge – With built-in scenario modeling and advanced analytics, companies can make better choices. With AI and machine learning, businesses can get data-driven insights that will help them move quickly.
- Plan across business – Connect all the company’s data in a way that doesn’t cause any problems. This way, you can make predictions and scenarios that are updated automatically even as your bottom line changes.
Next-generation of EPM in Cloud
In the last two decades EPM software platforms have changed from Windows-based client/server systems to web browser-based apps that can connect to the internet. Today, more and more businesses want cloud-based EPM software. The cloud is a less expensive option than an on-premise EPM, and it lowers both operational and capital costs. This is because companies don’t have to buy software and hardware or hire more IT staff. Since Oracle’s Cloud EPM eliminates the support for costly, capital expense infrastructure, resources can be put toward growth, and employees can focus on jobs that add more value instead of managing IT.
There is now a new breed of Cloud EPM that can use new technologies like artificial intelligence and machine learning to perform advanced tasks. They help companies make decisions and bridge the gap between thought and action by finding hidden patterns and insights in old data. It has a big effect on all kinds of decisions, from practical ones like “which vendor to pay first” to operational ones like “reallocating budgets” to strategic ones like “mergers and acquisitions.” Oracle’s Cloud EPM can also automate routine chores to get rid of the need for manual labor and lower the risk of mistakes. This category includes a lot of the tasks that need to be done to close and reconcile the books. When this kind of automation happens, finance staff can have more time to work on operations and give management the advice they need to take advantage of the next opportunity. Moreover, using EPM in the cloud is better than individual options.
The unified solution or applications suite is an important part of current EPM clouds. An EPM cloud suite is better than deploying a single-point software tool for tasks like consolidations or planning and budgeting. A complete solution that ties together an organization’s management tasks, ensuring that strategy and execution align with each other. This means that employees can view and understand more about every part of the business. Also, the Oracle Cloud EPM helps customers get the most out of their investments by integrating data and processes with their main ERP systems in a way that doesn’t cause any issues. A next-generation EPM cloud suite helps finance leaders make their companies ready for the future.
Buchanan’s expertise with EPM Cloud
As an Oracle Partner with specific knowledge in Oracle Cloud, Buchanan Technologies is in an ideal position to help your company set up Oracle Cloud Enterprise Performance Management (EPM). We ensure that Oracle EPM works well with your current systems using our extensive technical knowledge and years of experience delivering Oracle solutions. This lets you make better financial plans, and business choices based on data.
With Buchanan, you can utilize Oracle Cloud EPM to its maximum potential, knowing that you have a partner you can trust and rely on. Contact us today to learn more about our Oracle expertise and solutions.
