Stay current—EPM best practices for 2023

December 12, 2022 | 3 minute read
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We know from dozens of recent conversations with EPM customers that connected planning is catching on fast. Volatile business conditions are challenging finance teams to keep finance plans updated based on changing circumstances—and crucially—in synch with operational plans. And that’s what connected planning is all about: it streamlines planning processes as a whole and aligns financial planning with operational planning in sales, supply chain, human resources, and other functional areas.

Getting financial planning out of its silo

Imagine the implications of revenue plans that are disconnected from sales forecast revisions. Or the potential ramifications of a P&L forecast that doesn’t account for production mix changes resulting from supply chain interruptions. The inherent flaws of siloed financial planning are driving targeted investments in formal processes and technology-enabled planning in functions outside of finance.

While the specific functions that take priority vary, forward-thinking organizations are working to connect their planning and decision-making processes across multiple functions. Let’s look at three of the hottest areas:

  • Sales operations: Predictable revenue management has become more challenging for both B2B and B2C organizations. Many of you are replacing manual processes and Excel with cloud-based planning solutions that manage sales forecasts, territory and quota plans, and sales compensation modeling.
  • Human resources: Talent shortages and global talent sourcing are fueling the adoption of strategic workforce planning as a best practice. Typically managed as a collaborative process, HR and operating functions work together to build detailed multi-year plans for modeling talent sourcing, retention, and attrition.
  • Supply chain: Volatility in supply and demand have highlighted the need for integrated business planning—a process that seeks continuous alignment across the teams responsible for financial planning and sales and operations planning. It’s rapidly becoming a best practice for manufacturing businesses, especially in consumer goods, high tech, and industrial goods.

These are just three of the hottest spots for connected planning. But there are countless others: tracking IT investments, optimizing spend on marketing campaigns, and even tackling ESG-related planning and analytics.

How you can jumpstart connected planning

Oracle Fusion Cloud EPM provides you with a common platform for connected planning with prebuilt solutions such as Sales Planning, Strategic Workforce Planning, and Integrated Business Planning and Execution. It supports your organization’s functional teams with common tools, data, and language to build planning competency and create a culture of collaboration.

We encourage you to review these use cases and compare notes with your peers through Oracle Cloud Customer Connect. We’re confident that Oracle Fusion Cloud EPM can help you drive adoption of connected planning within your organization so that you can better manage volatility in your own business.

If you're an Oracle Partner and want to learn more, visit the Oracle Partner Community.

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The Fusion Development team is responsible for building, maintaining, and driving innovation on the Oracle Fusion Cloud Applications Suite, which includes Oracle ERP, EPM, SCM, HCM, and CX. Its members are based throughout the world with central offices in the US, India, Mexico, The Philippines, and Romania.

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