Oracle EPM Reviews & Pricing

Key Features

• Planning: Use dashboards to get insights into performance and predictive strategizing to understand how to drive the business ahead. Connect various aspects of the organization and understand how every decision impacts profitability. Verify assumptions and minimize risks with free-form modeling at scale. Structure multiple scenarios and implement accounting intelligence. 
  • Monte Carlo Simulations: Check the possibility of plots and make well-informed decisions. Automate asset-related expenses and plan efficiently for intangible assets. Review capital expenses and check impacts on cash flow, balance sheets, income statements and more. Track project performance with detailed metrics and minimize decision latency with real-time strategy and execution details. 
  • Integrated Business Planning And Execution: Establish a connection between finance, planning, execution and operation. Apply data science and machine learning to improve decision-making and speed up data analysis. 
• Profitability and Cost Management: Invest in the right resources by analyzing which customers, products and other factors are boosting profit. Make better IT decisions by gaining insights into IT expenditure and shared services. See where money is allocated by providing shared-services prices to different departments. 
  • Automatic Price Recording: Model regulatory value by calculating and automatically recording price for overhead rate justification, jurisdiction profitability, negotiations and more. Create and maintain profitability and price structure without scripts or coding, but with point and click actions. Quickly transform assumptions and allocation methods without re-building layouts or relying on IT services. 
  • Optimization: Optimize profitability by modeling changes like adding new customers and products, changing delivery positions and more. Analyze and understand which drivers and methods affect the bottom line. Keep an eye on allocation details with money and profitability maps. 
  • Security: Make sure that only authorized people have access to data with cloud-based applications. Add new dimensions and segments as the company grows. Merge monetary data with metrics and business drivers while running step-by-step validation reports. 
  • Accessibility: Ensure accessibility with a mobile workforce and configure dashboards to analyze the most current data. Identify gaps and what is helping the bottom line with pre-built graphs and KPIs. Perform variance analysis and optimize profitability. 
• Financial Consolidation and Close: Automatically calculate cash flow, balance sheets and reduce customization needs. Implement a pre-configured consolidation model to meet global requirements like IFRS and GAAP. Simplify complex consolidation and boost the precision of information by re-classifying, adjusting and eliminating data for accuracy and speed. Track KPIs by creating calculations for organization-specific requirements. 
  • Automate Consolidations: Minimize manual work by automating consolidations in the background. Add details to reports with a narrative commentary. Ensure transparency and compliance by enforcing segregation of duties, calculation and user-activity logging. Keep track of what changes have been made and by whom. 
• Account Reconciliation: Automate and meet compliance requirements of high-volume transactional reconciliations. Match details of millions of transactions in minutes with an automatic engine. Speed up the matching process by confirming or declining auto-suggested matches. Develop flexible matching rules for a single or group of transactions. 
• Automate Reconciliations: Simplify reconciliations by defining data sources and attributes for unlimited items. Save time by automatically creating journal entries. Increase accuracy by automating repetitive reconciliations like zero balance and low risk. Identify outliers that might be potentially slowing down the financial close. 
• Compliance: Get global auditability and ensure compliance is being met with reconciliations logged in the application. Create separate profiles for each account with variances without any custom code. Control the entire process and keep the team on the same page with built-in workflows. Get the flexibility to meet specific business requirements with a pre-built format. Make intercompany reconciliations automatic and enhance close cycle effectiveness with operational and compliance dashboards. 
• Tax Reporting: Directly access records from general ledgers and use the most current data to calculate correct tax provisions. Comply with GAAP and IFRS requirements. Minimize manual processes by directly importing tax-return details from the software. Add country-by-country data from the consolidation system. Analyze tax data from pre-built KPIs on the dashboard. Incorporate reporting details and collaborate with users around the world on local files. 
• Provision Automation: Automate processes like research and development, tax position, compliance, provision. Develop and maintain a calendar for important tax processes like audit management and tax compliance. Evaluate price associated with transportation, handling and insurance to implement the most cost-effective shipping option. 
• Native Reporting: Access data directly from Oracle and non-Oracle sources like spreadsheets or applications. Create a consistent and controlled process by making use of existing reports. Send a single report by combining statements and data with textual narrative. Provide authors with accurate data and add multiple writers to documents. Reuse common content by using previous reports and ensure centralized maintenance of dates, data and text. 
• Tracking and Sharing Reports: Track report statuses on mobiles and the web. Develop reports with complete audit trails and insight into transformations. Collaborate on content and create conversational threads to carry into the entire review circle. Share reports with stakeholders at any point of development. Produce briefing books and financial record books that can be accessed via mobile, web or desktop interface. 
• Enterprise Data Management: Establish connections between Oracle and non-Oracle applications using adapters. Import lists and save time spent validating data entry. Cross-check viewpoints to boost the quality of applications within the organization. Sign requests with shopping cart interfaces. Implement custom application validations to keep track of notes during requests. 
  • Tagging and Communication Threads: Make changes to existing items and submit new items with a single click. Tag participants and send real-time email notifications with @ references. Use communication threads to keep track of activities. Ensure security with detailed, permission-based access to applications. Compare and understand differences with a side-by-side layout. 
  • Drag and Drop: Make transformations to viewpoints within and across applications with drag and drop or fill out the details using an automated workflow. Download viewpoints to desktop files and reload to conduct mass updates. Script automated integrations with REST APIs. Boost transparency by configuring data access for external auditors. 
• Enterprise Resource Planning: Use datasets to predict, detect and act on uncertain and unpredictable situations. Speed up overall response time by uncovering significant deviations and revealing otherwise hidden information and bias. Eliminate manual processes with automation and invest more time understanding the data instead of entering it. 
• AI Digital Assistants: Simplify and boost common and repetitive tasks with AI-powered digital assistants. Clear approvals faster by customizing tasks and over budget notifications. Identify trends and launch models accordingly. Keep track of results in real time and refine the approach as the business progresses. 

Approach to Common Challenges

• Data Silos and Inconsistency: Oracle EPM's centralized data management platform integrates data from different systems, ensuring consistency and accessibility for accurate reporting.
• Manual Processes and Inefficiency: Automated workflows and pre-built reports streamline tasks like budgeting, forecasting, and consolidation, freeing up time and resources for analysis and strategic planning.
• Limited Visibility and Insights: Real-time dashboards and data visualization tools provide users with a holistic view of financial performance and key metrics, enabling informed decision-making.
• Lack of Collaboration and Communication: Collaborative features like shared dashboards and secure communication channels facilitate teamwork and knowledge sharing across departments.
• Non-compliance with Regulations: Pre-built compliance reports and automated controls ensure adherence to complex financial regulations, reducing risk and penalties.
• Poor Scalability and Inability to Adapt: Oracle EPM's cloud-based platform scales seamlessly to accommodate business growth and changing needs.
• Limited Access to Expertise: Oracle's robust customer support and training resources provide users with the knowledge and assistance they need to maximize their EPM investment.

Cost Of Ownership

• Q: What is the typical price range for Oracle EPM?
  A: The price for Oracle EPM varies significantly depending on several factors, including the specific modules chosen, deployment options (cloud vs. on-premise), licensing fees, and user subscriptions. A basic configuration for a small business might start around $10,000 per year, while large enterprises with complex needs could pay upwards of $1 million annually.
• Q: What are the additional costs associated with Oracle EPM implementation and maintenance?
  A: Beyond the initial licensing or subscription fees, consider implementation costs like consulting services, data migration, and customization. Ongoing costs include training, technical support, and potential hardware upgrades for on-premise deployments. Budgeting for these additional expenses is crucial for accurately assessing the total cost of ownership.
• Q: How does the cost of Oracle EPM compare to other EPM solutions?
  A: While Oracle EPM offers a comprehensive suite of features, it is generally considered a higher-priced solution compared to some competitors. However, it's important to consider the total value proposition, including scalability, functionality, customer support, and potential cost savings through automation and improved efficiency. Comparing features and pricing across different solutions is essential to determine the best value for your specific needs.

Limitations

• Complexity and learning curve: The platform's extensive features and functionality can be overwhelming for new users, requiring significant time and effort to learn and master.
• Customization limitations: While offering some customization options, Oracle EPM may not cater to highly specific needs or require additional development for extensive modifications.
• Integration challenges: Integrating Oracle EPM with other non-Oracle systems can be complex and require additional technical expertise.
• Limited scalability for small businesses: The cost structure and feature richness might not be optimal for small businesses with simple EPM needs.
• Potential vendor lock-in: Switching to a different EPM solution after adopting Oracle EPM can be challenging due to data migration complexities and potential loss of investment.

Demo Resources

• Official Oracle EPM Cloud Product Tours: Explore self-guided tours showcasing Oracle EPM Cloud applications and features in real-world business scenarios.
• Oracle Cloud EPM - Demonstration: Enroll in this free online course by Oracle University to experience a pillar-level walkthrough of Oracle EPM Cloud functionalities and benefits.
• Industry Analyst Reports: Leverage independent analyst reports from Gartner, Forrester, and IDC to gain detailed insights into Oracle EPM's capabilities, strengths, and weaknesses.
• Customer Case Studies: Read real-life examples of how organizations have successfully implemented Oracle EPM to achieve improved performance and business outcomes.
• Live Demo Request: Schedule a personalized demo with an Oracle EPM specialist to experience the platform firsthand and discuss your specific needs and requirements.

Suite Support

FAQ

• Q: How can I integrate EPM with other Oracle applications?
  A: Oracle EPM seamlessly integrates with other Oracle applications like Cloud ERP and HCM through pre-built connectors, APIs, and data models. This enables real-time data exchange and unified reporting across all applications. For example, EPM Cloud can consolidate financial data from Cloud ERP to generate consolidated financial reports.
• Q: What security measures are in place for EPM data?
  A: EPM offers robust security features like role-based access control, data encryption, and audit trails. These features ensure data confidentiality, integrity, and availability. Additionally, EPM adheres to strict compliance regulations like SOC 2 and HIPAA.
• Q: How can I customize EPM workflows to my specific needs?
  A: EPM provides flexible configuration options through its business process management (BPM) capabilities. Users can customize workflows, define approval processes, and automate repetitive tasks to streamline operations. For instance, expense reports can be automatically routed for approval based on pre-defined criteria.
• Q: What are the best practices for managing EPM performance?
  A: Optimizing EPM performance requires continuous monitoring and proactive maintenance. This includes regularly monitoring system health, fine-tuning configurations, and implementing performance best practices. Additionally, leveraging EPM's built-in analytics dashboards provides valuable insights into system performance and identifies potential bottlenecks.
• Q: How can I migrate data from my existing systems to EPM?
  A: Oracle offers various tools and services to facilitate data migration to EPM. Pre-built data migration templates and utilities simplify the process, ensuring data accuracy and integrity. Additionally, Oracle provides dedicated support teams to assist with complex migrations.
• Q: What are the benefits of using EPM on the Cloud?
  A: Cloud deployment offers several benefits for EPM, including scalability, agility, and cost efficiency. Users can easily scale resources up or down based on changing needs, eliminate infrastructure management overhead, and benefit from automatic updates and maintenance.