We’re thrilled to announce that Oracle has been positioned as a Leader in the IDC MarketScape: Worldwide Cloud Enterprise Performance Management Software for Planning, Budgeting, and Forecasting 2020 Vendor Assessment (doc #US46953520, November 2020) based on how we align our capabilities and strategies to our customers’ needs.
We’re happy to make this report excerpt available to readers with our compliments.
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the icons.
Continuing global uncertainties have proven the value of Oracle Fusion Cloud Enterprise Performance Management (EPM). Oracle Fusion Cloud EPM leads the industry in comprehensive scenario planning capabilities—helping finance teams visualize multiple “what-if” scenarios, assess how to best respond to each one, and run simulations to model and manage associated risks. Our planning capabilities have helped organizations to pivot quickly, maintain business continuity, and balance short-term needs with long-term plans.
We continue to innovate quickly, releasing new updates every month to Oracle Cloud EPM. We work in close partnership with our customers to ensure Oracle Cloud EPM has the functional capabilities and insights they need; according to IDC, “Customers mentioned that Oracle takes customer feedback into account when enhancing its product.”
In our view, the ability to support and connect planning across the organization is a competitive differentiator. It’s no longer enough to simply plan well in finance and then plan separately in other departments. Companies that connect and align their planning processes and decisions across their organization will outpace the competition. Oracle delivers purpose-built solutions to streamline and manage planning processes in sales, marketing, human resources, IT and supply chain functions.
Oracle Cloud EPM brings together multiple EPM capabilities into a single suite: financial and operational planning, profitability and cost management, account reconciliation, consolidation and close, tax reporting, narrative reporting, and enterprise master data management (EDM). The IDC MarketScape notes:
The enterprise data management component of the Oracle Cloud EPM platform is a differentiator and, when implemented correctly, allows enterprises to align financial master data structures across the organization, enabling them to effectively scale business transformation initiatives.
We’ve also infused Oracle Cloud EPM with machine learning to automate routine tasks and provide more predictive, intelligent planning and insights. The IDC MarketScape notes that Oracle has “integrated business intelligence and advanced analytics into its EPM offering, allowing users to leverage sophisticated predictive algorithms easily within the application, with capabilities such as root cause analysis, simulations, insight discovery, collaborative reporting, and intelligent narratives.” The result, according to customers, is less time spent on data gathering and reconciliation, and more time spent on business strategy.
“I am humbled and proud of the work our team has done serving thousands of customers around the world,” said Hari Sankar, Oracle’s group vice president of product management. “Customers play a key role in the development of our applications and push us to think about enterprise performance management from their perspective, which drives us to deliver timely and valuable innovations in each update that deliver real business value.”