Advice and Information for Finance Professionals

10 Reasons to Nominate a Change Agent of Finance, Now

Lana Prout
Director, Cloud Business Group, Oracle

Every year at Modern Finance Experience, Oracle celebrates the unsung heroes of finance with the Oracle Change Agents of Finance Awards. These global awards recognize finance professionals with the vision to outpace change and make their organizations future-ready. The awards are open to any individual or finance team using Oracle Enterprise Resource Planning (ERP) Cloud or Oracle Enterprise Performance Management (EPM) Cloud, deployed alone or in conjunction with other Oracle Cloud applications. 

There are 10 award categories available, so take a look and see if you know anyone who might fit the bill! 

Fast Finance Award

For a cloud ninja like you, implementing a new ERP or EPM cloud system is a breeze. If you’ve turned a great implementation into major business transformation in a matter of weeks, you’re just what we’re looking for. Submissions will be judged on the following criteria:

  • Implementation speed and quality, including the quality of the project plan and system design, adoption of best-practice business processes, successful execution of implementation timeline, a strong data migration strategy, and high user engagement and adoption
  • Implementation business impact, such as how the new system is enabling the organization to grow, absorb a new acquisition, roll out a new subsidiary or business unit, evolve the business model, and/or generally succeed in today’s fast-paced economic environment

Frugal Finance Award

Whether you’ve improved budgeting, made processes more efficient, or automated tasks that previously consumed hundreds of man hours, we want to hear from customers using Oracle ERP or EPM Cloud to deliver cost savings. The Frugal Finance Award will be based on the following criteria:

  • Implementation cost savings, such as savings due to lower initial and ongoing costs to implement, including the ability to deliver greater value over time without the cost and disruption associated with upgrading, expanding, or changing business applications
  • Process-driven cost savings, due to automation of key back-office processes or rollout of new cost-reduction strategies such as zero-based budgeting
  • Use of emerging technologies—such as machine learning, blockchain or the Internet of Things—to automate rote or manual tasks and save costs on manual labor

Procure-to-Payday Award

The Procure-to-Payday Award honors an outstanding procurement executive who has transformed the P2P process using Oracle Procurement Cloud, based on the following criteria:

  • Uses self-service procurement to control maverick or off-contract spend
  • Uses spend analytics to make the P2P process more strategic, negotiating better contracts with key suppliers and predicting future spending patterns
  • Automates the payables process with touchless transactions to strengthen control and eliminate errors
  • Improves collaboration across procurement processes
  • Uses innovative new technologies, such as the Internet of Things, blockchain or machine learning, to intelligently automate procurement processes
  • Helps procurement become a more-strategic driver in the business—freeing procurement experts from long, paper-based processes so that they can focus on improving supplier relationships and internal practices

Modern Close Award

With this award, we’re looking for some truly exceptional close processes, typically those taking five days or less. The award is also open to those who have reduced their close times by a large percentage. The Modern Close Award is based on the following criteria:

  • Reduction in number of days to close the books
  • Reduction in the number of chart of accounts to reduce or eliminate account reconciliations
  • "Ruthless standardization" to ensure that the close process is repeatable, predictable, and scalable
  • Use of emerging technologies, such as intelligent process automation or machine learning, to automate close processes
  • Strong governance and data management processes in place to ensure data quality
  • Recognizing the value of closing the books as quickly as possible, so that you can provide the right people with the right insights, at the earliest possible opportunity

Crystal Ball Award

We’re looking for financial planning and analysis gurus who know that a successful business is fueled by data-driven insights, not gut instincts. If that’s you, there might be a Crystal Ball Award in your future. This award recognizes outstanding achievement by an FP&A professional, based on the following criteria:

  • You make the most of all data available to you—from structured enterprise data to unstructured sources—then use that data to guide the business forward profitably using Oracle ERP or EPM Cloud
  • You leverage predictive analytics to continuously refine and test the business model and strengthen finance’s impact on business outcomes
  • You ensure that everyone is making decisions based on the same source of high-quality data
  • You invest in the right design and tools (for example, dashboards, visualization tools, mobile BI, chat or voice interfaces) to deliver right-time insights to decision-makers

Roll with It Award

If you’re constantly re-forecasting to outpace change, we want you! The Roll with It Award honors an organization that has significantly increased its agility using the continuous planning functionality in Oracle EPM Cloud to adopt a rolling forecast model. Consideration will be given to organizations that:

  • Update forecasts frequently using the most recent and relevant data available
  • Significantly reduce the use of manual spreadsheets in the planning process
  • Automate manual forecasting tasks with emerging technologies, such as predictive analytics or intelligent process automation
  • Speed response time-to-market challenges or opportunities using driver-based rolling forecasts
  • Exploit the “wisdom of crowds” to drive planning across the extended enterprise

Better Together Award

When Oracle ERP Cloud is deployed on its own, it’s great. But once you connect it to another Oracle Cloud solution, that’s when the sparks really start to fly. We want to hear about the togetherness in your back office, between Oracle ERP Cloud and Oracle’s portfolio of ERP, EPM or Supply Chain Management Cloud solutions. Examples include:

  • Using Oracle ERP and EPM Cloud to gain a single source of financial truth for reporting and performance management
  • Connecting Oracle ERP Cloud and Oracle Supply Chain Management (SCM) Cloud to optimize operations
  • Using Oracle ERP Cloud and Oracle Risk Management Cloud to help protect your organization from unathorized access, error or fraud

Shared Services Superstar Award

As a shared services trailblazer, you know that automating routine tasks is the key to freeing up your people to focus on the things that really matter—like innovation, service improvement, and other value-adding activities. From greater economies of scale to higher levels of service delivery, this award will be given to organizations that can demonstrate:

  • Development of centers of expertise to support strategic processes
  • Development of analytics-based capabilities that support improved decision-making
  • Incorporation of next-generation technologies and methodologies—such as intelligent process automation, machine learning, or agile methodologies—to drive large-scale automation, free up capacity, and increase flexibility

Top Talent Award

Today’s C-suite recognizes the strategic value of top finance talent. The Top Talent Award recognizes an organization using Oracle ERP Cloud in conjunction with Oracle HCM Cloud to attract, develop, and retain the very best finance talent available. Consideration will be given to any organization in which:

  • Oracle ERP Cloud and Oracle Human Capital Management (HCM) Cloud are used together to gain a unified view into the workforce—improving security and governance, workflows, and reporting and analysis
  • Finance and HR partner to develop a robust finance talent pipeline and retain top talent
  • Finance uses Oracle HCM Cloud to onboard new finance professionals and train them

Oracle Billion-Dollar Story Honorary Award

In 1999, Oracle founder Larry Ellison made a famously bold claim to financial analysts. He said that by using its own business applications, Oracle could save US$1 billion annually. It seemed steep—almost impossible at the time—but one year later, Ellison made good on his word.

Oracle didn’t just save more than a billion dollars. It also improved its operating margins by 11.7 points the next year—thus beginning the legend of the Oracle Billion-Dollar Story.

Today, we’re looking for exceptional organizations that are following in our footsteps—using Oracle ERP or EPM Cloud to deliver savings similar in scale to those famously achieved by Oracle. You don’t have to save a billion to win, but nominations must meet the following criteria:

  • You have migrated your on-premises ERP applications to Oracle ERP Cloud
  • You’ve simplified your environment by standardizing—or moving to standardize—on a single instance of Oracle ERP or EPM Cloud
  • You’ve centralized processes when it makes sense, to strengthen control and eliminate duplication
  • You’ve streamlined and automated as many processes as possible, embracing touchless transactions
  • You can demonstrate significant savings through your IT transformation

Award winners will receive a complimentary pass to attend Modern Finance Experience—part of Modern Business Experience, presented by Oracle, March 23-26, 2020 in Chicago. Nominate your team, your colleagues, or yourself—but don’t delay! Nominations close December 6, 2019.

Submit a nomination for the Oracle Change Agents of Finance Awards.

Nominate now

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