Topics In Demand
Notification
New

No notification found.

Why Oracle is Thriving in the EPM Space
Why Oracle is Thriving in the EPM Space

November 15, 2022

255

0

Why Oracle is Thriving in the EPM Space

This article highlights what an EPM is, and why Oracle is thriving in the EPM Space.

EPM stands for Enterprise Performance Management (EPM). EPM is a process and software system designed to help organisations (i.e. companies, government entities, educational institutions, and non-profits) for budgeting and forecasting, including monthly close and consolidation, reporting and more.

Why Organisations Need an EPM

As an organisation grows, scales up, hires more people, these tasks become increasingly challenging, especially for the management team. Data collection and validation becomes time-consuming, diverting time and resources away from crucial organisational tasks.

To support business through this, EPM software helps the management with the several processes: budgeting, planning, forecasting, consolidating results and closing the books on a periodic basis, reporting, and analysing performance vs. plan, prior years, across divisions or products. EPM helps the management and organisation analyse data faster, accurately reduce cost, promote efficient planning, boost data efficiency, and satisfy all reporting requirements.

While EPM solutions are primarily used by CFOs and the office of finance, other functional and business support areas such as HR, marketing, sales, and IT, can use EPM for operational planning, budgeting, and reporting.

What makes Oracle Leaders in the EPM Space

Here’s why Oracle lead the EPM pack with about 27% in EPM licence, maintenance, and subscription revenues.

The Oracle EPM allows high levels of automation, ensures compliance with regulatory bodies, facilitates faster planning cycles and financial decisions, supports out of the box functionalities, all with very less development needed. Further, the Oracle EPM integrates well with many ERP tools, supporting both on-premises and cloud support and security controls.

Modules such as planning, profitability and cost management, financial consolidation and close, account reconciliation, tax reporting, narrative reporting, and enterprise data management are some of the key features that the Oracle EPM supports.

Oracle EPM has the potential to help your organisation in managing its business planning and forecasting with great reporting. It can provide you with a clearer picture of where your business is headed.

* This figure might have changed after the date of publication.

Work with Technology Experts – Version 1

If you think that the Oracle EPM can benefit your organisations long term growth and success, with better planning, consolidation, closing books, reporting, and more, reach out to us at Version 1.

Version 1 believes in making a real difference to our customers’ businesses. We are trusted by global brands to deliver IT services and solutions which drive customer success. Our team of over 2500 dedicated difference-makers works tirelessly to provide independent advice and deliver impactful changes to help our customers navigate the rapidly changing Digital-First world we live in.

Read our Customer Success stories and about our IT Services. Contact us to speak with one of our experts today if you would like access and understand to the most up to date EPM version. We can help you!

About the Author:

MBA graduate from ICFAI currently @Version 1 with total 8 years of experience in Oracle EPM products including Hyperion Essbase, Hyperion Planning, PBCS/ePBCS, Hyperion Financial reporting, Smart View and Excel Add-In.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


© Copyright nasscom. All Rights Reserved.