Introduction to Oracle Cloud EPM
This article provides a comprehensive understanding of Oracle Cloud EPM (Enterprise Performance Management), a cloud-based solution that offers businesses a set of tools for managing their financial performance. The key takeaways include:
- What is Oracle Cloud EPM?: Oracle Cloud EPM focuses on managing financial performance, covering aspects like budgeting, forecasting, financial reporting and analytics, financial consolidation, and close management.
- Oracle EPM vs ERP: While Oracle Cloud EPM is a financial performance management solution, Enterprise Resource Planning (ERP) is a broader business management solution that covers various aspects of a business’s operations, including finance, HR, supply chain, and customer management.
- Oracle Cloud EPM Modules: Oracle Cloud EPM includes various modules that cover different aspects of financial performance management, such as Planning, Financial Consolidation and Close, Account Reconciliation, Profitability and Cost Management, Tax Reporting, and Enterprise Data Management.
Understanding these aspects will help you effectively manage and optimize your Oracle Cloud EPM.
Oracle Cloud EPM – Introduction
Enterprise performance management (EPM) is a critical function for businesses, and managing it efficiently is essential for the business’s success.
Oracle Cloud EPM is a cloud-based enterprise performance management solution that provides businesses with comprehensive tools for managing their financial performance. In this guide, we will explore what Oracle Cloud EPM is, how it differs from ERP, and what its modules are.
What is Oracle Cloud EPM?
Oracle Cloud EPM is a cloud-based enterprise performance management solution that provides businesses with various tools for managing their financial performance.
It covers various aspects of financial performance management, including budgeting and forecasting, financial reporting and analytics, financial consolidation, and close control. Oracle Cloud EPM is designed to help businesses streamline their financial operations, improve efficiency, and provide better insights into their financial performance.
What is Oracle EPM vs ERP?
While Oracle Cloud EPM is a financial performance management solution, Enterprise Resource Planning (ERP) is a broader business management solution that covers various aspects of a business’s operations, including finance, HR, supply chain, and customer management.
While Oracle Cloud EPM focuses on managing financial performance, ERP systems cover a broader range of business operations. Oracle Cloud EPM and ERP are cloud-based solutions that provide businesses with the tools to manage their operations efficiently.
Oracle Cloud EPM Modules
Oracle Cloud EPM includes various modules that cover different aspects of financial performance management, including:
- Planning: This module covers budgeting, forecasting, strategic modeling, and workforce planning.
- Financial Consolidation and Close: This module covers financial consolidation, close management, and disclosure management.
- Account Reconciliation: This module covers balance sheet reconciliations, transaction matching, and exception handling.
- Profitability and Cost Management: This module covers product and customer profitability, cost and margin analysis, and activity-based costing.
- Tax Reporting: This module covers tax provision, reporting, compliance, and planning.
- Enterprise Data Management: This module covers data integration, quality management, and governance.
Conclusion
Oracle Cloud EPM is a cloud-based enterprise performance management solution that provides businesses with various tools for managing their financial performance.
It covers various aspects of financial performance management, including budgeting and forecasting, financial reporting and analytics, financial consolidation, and close control. While Oracle Cloud EPM is focused on financial performance management,
ERP systems cover a broader range of business operations. Oracle Cloud EPM includes various modules that cover different aspects of financial performance management, and businesses can choose the modules they need to manage their financial processes more efficiently.
