The growing need to transform operational processes like planning, financial consolidation and close, and management reporting has many organizations looking to a more modern solution. Whether your organization utilizes excel or an on-premise solution such as Hyperion, the expanded features offered from Oracle Cloud EPM offer an accessible solution for increased reporting efficiency and accuracy. In this webinar we’ll cover key considerations for migrating to Oracle Cloud EPM, demo Cloud EPM functionality, and discuss how your organization can benefit from leveraging a SaaS solution.
The total cost of ownership for EPM processes is materially lower in the cloud because common overhead functions are taken on by the cloud service provider rather than the customer. TCO is frequently miscalculated and understated when comparing on-premise costs to cloud EPM solutions. The most common mistake is to simply compare current on-premise license and support costs to the subscription costs of a new cloud services; this is an apples-to-oranges comparison. The cloud service subscription includes material benefits that are separate line items for hardware, IT charges, and upgrades.
Another benefit of the cloud is the immediacy of new features for users that can improve EPM efficiency and accuracy. Traditional on-premises software can go two to four years between upgrades.One example is quickly adding a key feature such as sandboxing – which quickly allows for easier what-if analysis, improvements to performance, or improvements to usability.
You may have a strong inclination to just lift and shift current EPM processes to the cloud. While this may seem the fastest route to the cloud, it overlooks the opportunity to adopt best practices. Lift-and-shift may be appropriate for unique company-specific EPM processes. But for the most common EPM business processes – such as expense planning, workforce planning, financial consolidations, etc. – adoption of best practices built into the cloud should be seriously considered as a key benefit.
Agility in financial and operational EPM processes is perhaps the most overlooked benefit of Oracle EPM Cloud. Organizations need to be able to react quickly to market opportunities and threats. Oracle EPM Cloud answers this need by enabling reimagined business processes, optimized administration, connecting operational planning with corporate planning, and hybrid deployments