Spreadsheets have been the backbone of enterprise resource planning (ERP) and enterprise performance management (EPM) processes for years, but the speed they offered in the past is no longer keeping up with the demands of growing businesses. Since spreadsheets are manual, it makes them error-prone in nature, and they put businesses at risk with inaccurate outputs. According to an article published in the Enterprise Times, 60 percent of businesses in the US are still relying on spreadsheets, while around 21 percent are moving toward other software solutions.
As small-to-medium businesses (SMBs) grow, there is the need to have effective planning, budgeting, and forecasting systems in place. The right tools are needed to build an accurate picture of where you are, where you’re going, and what you need to do to get there.
An effective EPM solution automates basic tasks and streamlines complicated processes. With Oracle Enterprise Performance Management Cloud, a spreadsheet-like environment can be retained, while at the same time producing realistic, useful plans and budgets for your company’s future. Oracle EPM Cloud is comprehensive and can be connected to other vital systems.