Advice and Information for Finance Professionals

Top 5 Characteristics of a Modern EPM Cloud

Guest Author

By Jennifer Toomey, Senior Director, Cloud Business Group, Oracle

The key to surviving disruption is flexibility. Whether from external forces (such as new regulations or global weather events) or because of internal realities (one product skyrockets to success while another flops), an organization that responds quickly can stay ahead of the curve and the competition.

So, how does your organization stack up?  Do you have:

  • Spreadsheet overload?
  • Patchwork reporting processes?
  • Too-little, too-late reporting?
  • Analysis without insight?
  • Rigid systems in changing environments?

Helping organizations understand when, how, and where to adjust to disruptions is what a modern enterprise performance management (EPM) solution does best.

In Your Complete Guide to Modern EPM, we share some of the best practices learned from working with thousands of customers who have already made the agile journey—and are reaping the benefits of moving to modern EPM. Take our quiz to see where you stand.

Download your Complete Guide to Modern EPM

But, not all EPM solutions are equal. Studies confirm that when finance organizations leverage the capabilities of a robust EPM cloud, they outperform businesses that are stuck with inflexible, highly customized, on-premises legacy systems or disconnected point solutions.

For finance organizations to excel, they need world-class planning as well as financial close and reporting capabilities—all guided by proven best practices, and all accessible through the innovation and simplicity of a unified cloud experience.

Modern EPM is the key to business transformation and meeting and exceeding the demands of today’s business environment. The capabilities of a next generation EPM solution enable you to:

  1. Optimize the financial close—adapt quickly to new requirements in today’s changing regulatory environment and deliver faster, more accurate insights to all stakeholders. Streamline the financial close, and report with confidence and insight.
  2. Drive accurate and agile integrated plans—get rid of disconnected spreadsheets, manual processes, and fragmented reports. Align planning across the enterprise, so that you can develop agile forecasts for all lines of business, model the future, and respond faster and more effectively to change.
  3. Satisfy all your reporting requirements—the right EPM cloud solution eliminates the need for multiple reporting systems. No matter how many reporting standards you have to comply with, you can be sure that the data you provide in your reports is accurate, complete, and the most current information available.
  4. Manage change with enterprise data management—whether you're migrating applications to the cloud, managing applications in a hybrid environment, or spearheading major business and financial transformation, an enterprise data management platform in the cloud lets you ensure data accuracy and integrity with the alignment of your data and master data.
  5. Leverage advanced technologies like AI and machine learning—the first generation of EPM worked to replace spreadsheets and enable analysis. The next generation of EPM allows you to move from analysis to action by minimizing the analysis phase to enable faster, higher quality decision-making. 

Learn more in Your Complete Guide to Modern EPM

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