What you don’t know about where your business is making and losing money can easily destroy it. In today’s high-paced and increasingly competitive global business climate, it’s essential that your organization focuses resources and cash on the right things. This means investing in generating more profit winners and/or reducing investment where you are losing money. Either can improve overall profitability but, as we often say, the devil is in the detail. Executives realize that accurate cost information is essential, but for many organizations, this is information that they just don’t have.
Oracle Profitability and Cost Management Cloud can change all this.
Oracle Profitability and Cost Management Cloud Service (PCMCS) is a complete solution that empowers business users to gain insight to hidden profit and cost across key business dimensions—such as products, customers, sales channels, and more—and take action to improve profitability and lower costs.
PCMCS is purpose-built to enable business users to rapidly build, maintain, change, and analyze allocations. With useful built-in and ad hoc reporting, you can determine where best to spend limited investments and scarce resources to get the biggest impact—and change assumptions easily to model opportunities.
In a recent EPM trends survey, over 50% of the organizations that have EPM applications in the cloud today did not have these applications previously on-premises. Moreover, EPM in the cloud delivers a better experience all around, with more than 50% indicating that EPM cloud applications deliver better functionality, scalability and performance, faster implementation times, less complexity, and the ability to make the solutions available to a wider audience. Having profitability and cost management capabilities in the cloud enables business users to have better access to a market leading tool, implement faster, and run allocation models more frequently.
Oracle Partners are excited too.
Huron Consulting: “Oracle Profitability and Cost Management Cloud Service is an easy-to-use, business-owned solution with a wide range of uses. Among them, PCMCS can complement ERP business processes that support allocations which the ERP system does not practically address, such as allocations requiring attribution that are not supported by the general ledger chart of accounts.”
Edgewater Ranzal: “The Oracle Profitability and Cost Management Cloud service strikes the perfect balance between configurability and ease-of-use, and is a welcome addition to Oracle’s market leading family of cloud-based Enterprise Performance Management applications. Business owners will appreciate the richness and accessibility of their performance reports, while business modelers will find the flexible, powerful rules engine saves time, replaces difficult-to-manage custom approaches found in Excel and other third party tools, and quickly integrates with existing ERP and EPM investments. It’s the ideal solution for a wide range of allocation based business processes, including management reporting , product and customer profitability, shared service costing and chargebacks, and operational transfer pricing.”
Don’t worry. Oracle will continue to support and improve on-premises Oracle Hyperion Profitability and Cost Management, but if you are inclined to move your applications to the cloud and reap the cloud advantages, you can. If you have built your model using the management ledger style, it’s an easy “lift and shift” move. If you built it using other styles, many of the objects can still be reused. Several of our partners are already involved in moving Oracle customer’s applications to the cloud.
Over the past 2 ½ years, more than 1,500 customers have chosen Oracle EPM Cloud offerings across the areas of enterprise planning, collaborative reporting, financial consolidation and close, and account reconciliation. We are seeing more than 100 EPM Cloud customers go live each quarter. Oracle Profitability and Cost Management Cloud extends the EPM Cloud family for our customers with powerful new capabilities to help you discover profit winners .