10+ Reasons Why You Should Use Financial Planning Module
Watch the Customer Connect recording presented by RajeshKumar UmaShankar and Muthu Ranganathan, who review the reasons why you should go with financial planning module instead of going with custom planning in Oracle Cloud EPM Planning. There is also a ‘show and tell’ of some of the framework features that has helped many customers use the financial planning module.
The presentation covered the following 12 reasons in more detail. A copy of the presentation can also be accessed from the recording link.
- Built in best practice planning methodologies including Trend based, Driver based & Predictive planning methodologies
- Plan and Forecast Preparation to manage the various planning process and roll forward of plans including time granularity
- Flexible Time Options – Monthly and Weekly Planning and other time granularity
- Flexible custom dimensions to support up to 5 custom dimensions that help with modelling by functional areas such as Revenue, Expenses & Balance sheet
- Bring your own chart of accounts that allows customers to model their own COA structure within Financial module framework
- Built in Rolling forecast and co-existence with Annual Planning and Forecast
- Seeded rules and calculations to manage the Planning & Forecast process on a periodic basis
- Integrated Financial Statement summary to integrate from detailed planning modules such as Workforce, Capex, Projects or Other Custom modules to overall Financial plan
- Industry specific built-in functionality for Retail to have 13 period planning, public sector budget revisions planning
- Built in Variance Analysis for Plan vs Actual vs Forecast – Periodic or YTD
- Extensible to add additional content such as custom cube, custom accounts, forms, member formulas and calculation rules, etc.,
- Best practice technical design managed and owned by Oracle – dimension consideration, rules design, forms design, Essbase best practices built-in
