Oracle Fusion Cloud Enterprise Performance Management vs. Workiva

It is well suited in a geographically distributed environment where you have various key participants in multiple time zones providing input and necessary explanations on performance and measured success It is less appropriate where you have a single office environment with a single finance department working together. It is also less suited when the GL is NOT an Oracle product and the interface between the GL and the reporting software needs to be implemented with utmost care and handling.

Incentivized

Wdesk is best suited for companies with demanding SEC filings and documents, with multiple revisions due to auditor/counsel review, and where financial reporting is extremely manual. Wdesk really helps take out the potential errors out of extremely manual processes, and helps automate regular financial reporting by allowing companies to link financial information and build customized flows of their information into financial statements and other documents (such as presentations or other internal reporting).

Incentivized

• Account Reconciliation CLoud Services provides tight integration with Oracle R12 and 11i . Provides drillback capability. It is flexible and provides rich functionality to users.
• We have implemented ARCS on cloud and migrated planning and budgeting from On premise to PBCS and EPBCS. Functionality is onpar with onpremise. Provides regular updates monthly
• We don't need to upgrades every year and saved a lot on Hardware.

Incentivized

• The biggest strength of the program for our team is that multiple users can work in the document at the same time. Multiple users can be in the program updating financial statements, footnotes, MD&A - all without stepping on each other's toes.
• Rolling forward the documents from one period to the next is pretty simple. Links to source documents are maintained and new ones can be added without much hassle.
• Edits and changes can be made right up until the last minute before filing. There is no waiting period or pencils-down period unless we enforce one ourselves - the Financial Reporting team is in control of the timing of our filings.

Incentivized

• The limitation of constrained out of the box dimensions that requires ripping the initial implementation to add the new dimensions is a major drawback.
• Smartview interface is cumbersome for many.
• The only financial adapter is available for integration for other modules we have to go with file-based uploads which is cumbersome and not real-time.
• It is very costly in terms of licensing unlike other Oracle products.

Incentivized

• The automation could be better. A lot of mass updates are done manually.
• Sometimes the system has connection issues and certain functions are down.
• The customer service could be more proactive to provide regular training and sharing updates on the software.
• Customer service could be better to help process the mass updates in a timely fashion.

Incentivized

We have a pretty good userbase who are at the high level who gained value from this tool. Discontinuing this tool is prone to impact their day to day operations. Also the data in this tool cannot alter the source, which maintains the integrity of this tool. Smartview is a cool addition that gained lot of traction as well.

Incentivized

It produces consolidated multi currency reports faster and more accurately whilst adding additional pivotal functionality. The Smartview reporting is a key for us and a flagstone of the application

Incentivized

Overall it's a good-to-go product because of its features. It's easy to set up, meets requirements, has quality support, etc. So far, it has been working quite well for me, and I wish to continue using it for as long as it meets my requirements.

Incentivized

EPM has been so far available all the time

Incentivized

The product performance is so far very good

Incentivized

Support from our implementation partner is a 10/10, but support from Oracle is awful. Case in point: recently over a 2-day period, there were a series of intermittent outages. Oracle actually asked US for the outage time-stamps. I would have thought that, since we were paying them, they should probably be able to tell us!

Incentivized

Workiva's technical support is impeccable and undoubtedly one of the best. The times we needed them, they were super quick and willing to help. It works 24 hours a day, and there will always be someone to help with doubts or technical problems regarding the tool.

Incentivized

I suggest doubling the time to implement from the initial quote you get from the Sales team. That's always been the case for me for multiple EPMs now. The out-of-the-box functionality of Oracle Planning and Budgeting Cloud is pretty robust so I appreciate that and it really helped us get the ball rolling quickly.

Incentivized

Oracle Planning and Budgeting Cloud fared very well against Adaptive, Anaplan, and Host Analytics. We ultimately decided on Oracle due to its reputation and strength of existing customers. We are happy with our decision.

Incentivized

We moved from a third party filer to doing it in house. Have seen demos of products like Active Disclosure, which has come a long way from the beta version I saw and but we are not too far gone with Wdesk for us to evaluate other products. When we first signed up with Webfilings, (former name of Workiva), there were no viable products in the market. I had seen an Oracle product and a beta version of Active Disclosure. It was not hard to see the ease and intuitive-screens, to guide one through the filing process. The excel-like spreadsheets were an added bonus.

Incentivized

The product is scalable

Incentivized

• Significantly reduced the amount of money we spent for the maintenance of in-house hardware.
• We now need less employees to manage the configurations of Oracle EPM Cloud.
• There have been many time savings as a whole to apply to more productive causes.

Incentivized

• We spend less than we used to with a traditional printer.
• We have been able to do turn-on-a-dime equity offerings with last minute changes and still file on time.
• Inviting external legal into the platform has helped with communication but we actually suspect they spend MORE time (and billing) on our documents than they used to just simply because it's so easy to get at them anytime they want.

Incentivized