In today’s rapidly evolving business landscape, organisations are constantly seeking innovative ways to streamline their financial reporting processes and gain valuable insights into their performance. Oracle Fusion Cloud Enterprise Performance Management (EPM) suite offers a comprehensive set of tools to meet these challenges head-on, and one such powerful tool is the EPM Narrative Reporting business process, specifically its Notes feature.
Understanding EPM Narrative Reporting Notes
The Notes feature within EPM Narrative Reporting allows finance professionals to create, manage, and analyse textual content directly within their financial reports. This capability goes beyond traditional numerical data, providing context, explanations, and supporting details that are driven by Note Templates allowing for stakeholders to identify a wide range of data presented in the reports.
What is a Note Template?
Note Manager is the central hub where Notes Templates are created, adjusted and accessed by team leaders and inserted into key reporting areas that require further explanation. Crucially, Note Templates are connected to a data source – this means that Note templates are intertwined with Oracle EPM/ ERP dimensionality (refer to Diagram 1).
Importantly, the key benefit of Note Templates is their Point-of-View (PoV) driven nature. The PoV refers to the specific intersection of members from each dimension within a data source that determines the data values displayed in a report.
Significantly, if a Note Template is created and inserted into a report that focuses on the Scenario, Years, Account and Entity dimensions multiple report end users can update numerous data intersections providing a wide and concentrated range of rich data.
For example, User A and User B have been asked to write commentary on the same report, but for different dimensional intersections. Therefore, each user can choose different intersections on the same report and add their insights. This builds up a depth and breadth of high-quality information that can be accessed by key stakeholders.
Diagram 1: Note Template Flow
Take the next step and integrate Notes into your reporting with Oracle Consulting
Oracle’s EPM Narrative Reporting module with its Notes feature empowers finance professionals to create insightful, data rich financial reports. By leveraging Notes effectively, organisations can enhance decision-making, ensure regulatory compliance, and foster collaboration across teams.
Explore this transformative approach by downloading our white paper on “Narrative Reporting – Notes. How to successfully Implement Notes and Improve Reporting”.
Download the White Paper now for further insight into how to create, manage and empower your reporting with Notes.