Financial Close and Consolidation with Oracle Cloud EPM
Oracle Cloud EPM FCCS streamlines financial consolidation, enhancing accuracy and compliance.
November 12, 2024
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Oracle Cloud EPM with On-Prem ERP
Omaha Public Power District, or OPPD, is a public electric utility in the state of Nebraska, serving more than 855,000 people in Omaha and 13 surrounding counties in southeast Nebraska.
OPPD enlisted Elire to implement Oracle Cloud Enterprise Performance Management (EPM) for use in conjunction with their on-premise ERP system. The project involved integrating Oracle Cloud EPM to their existing on-premise ERP system, PeopleSoft. In integrating EPM to ERP, the OPPD team sought the ability to connect their on-premises PeopleSoft General Ledgers, and generic data warehouses. Elire was tasked with facilitating the integration of EPM via an integration agent that can be extended with scripting to provide connectivity to non-standard data sources, and 3rd party data sources, as well as other cloud applications.
The project encountered a few challenges along the way. Data security and confidentiality requirements from the OPPDs’ policies were an initial obstacle due to the fact that the implementation team couldn’t gain access to the full data set. As a result, the Elire team had to provide scripts/calcs to OPPD technical teams in order to facilitate the data cleansing.
Another challenge was limited access to OPPDs’ infrastructure, meaning the Elire team had to create step-by-step guides for their internal on-prem resources to perform tasks such as metadata/data extraction as well as automation testing. The automation testing was the biggest challenge as scripts would fail and the team would have to rewrite them to return clues to the OPPD team as to why they failed. Even with an aggressive timeline, the team was able to meet the deadline on time.
By enlisting Elire for the implementation of EPM, OPPD saw increased profitability and reporting that helps their organization to focus more on the metrics and analytics that drive their business success. Additional value OPPD saw included a shortened close period that reduces consolidation and account reconciliation processes through insight and automation, improved forecasting and budgeting capabilities, and more aligned business functions due to their investment in their EPM solution that offered a solution for managing changes in structures across a variety of applications. The project went live on time and on budget on December 12, 2022.
Published 2.12.2023
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Oracle Cloud EPM FCCS streamlines financial consolidation, enhancing accuracy and compliance.
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