It was a great "first cloud project" for our organization.
Companies can't remove reviews or game the system. Here's why
Build a strong support model as metadata management is time consuming as is management of reporting changes. For EPCRS, models are difficult to build and require specialized and dedicated resources for implementation, maintenance, and support.
There are initial challenges on timelines that was envisioned. It is not going to be lift and shift. Do thorough analysis and functionality mapping to cloud as part of Project Scope
2 stage upgrade GL and reporting: GL - from Coins to JD Edwards, Reporting - from HFM to EPM Cloud. As with all implementations, the key is to do your homework and put in the hard work up front. This will save a whole bunch of heartache later on. Make sure you need a cloud implementation.
Worked with the vendor directly. Implemented within a week.
There were some difficulties but Oracle has proven to be a reliable partner that will help us deliver and keep promises of improvement.
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.
The biggest key is data validation time. If you are implementing a new chart of accounts along with Oracle Financial Consolidation and Close Cloud, you need to multiply the time you think you can perform data validation by 2. The key to managing your project timeline is managing your expectations around data validation as well. For instance, it is recommended you convert 1-3 years vs. 5 years.
- look at the existing process and seriously review & consider if it makes sense - engage end users early so they are invested with in the implementation. Will make change management much easier -
Start with an end vision in mind to avoid costs for reworks and change orders.
The true challenge was not technical capabilities or design but change management
We are in the evaluation phase
Oracle’s complete EPM suite is designed to give users the agility needed to respond to change faster. Combined with the simplicity of the cloud, it enables companies of any size to drive accurate and agile plans across finance and operational lines of business, accelerate financial consolidation and close processes, streamline internal and external reporting, and ensure compliance with financial and tax reporting regulations, according to the vendor.
- Planning - Don’t just plan it, own it
- Profitability and Cost Management – Discover and act on hidden profit and loss
- Financial Consolidation and Close – Deliver a modern financial close
- Account Reconciliation – Streamline processes
- Enterprise Data Management – Improve trust in the numbers
- Narrative Reporting – Reinvent reporting
- Tax Reporting – Bring tax and finance together
- Supported: Long-term financial planning
- Supported: Financial budgeting
- Supported: Forecasting
- Supported: Scenario modeling
- Supported: Management reporting
- Supported: Financial data consolidation
- Supported: Journal entries and reports
- Supported: Multi-currency management
- Supported: Intercompany Eliminations
- Supported: Minority Ownership
- Supported: Local and consolidated reporting
- Supported: Detailed Audit Trails
- Supported: Financial Statement Reporting
- Supported: Management Reporting
- Supported: Excel-based Reporting
- Supported: Automated board and financial reporting
- Supported: XBRL support for regulatory filing
- Supported: Personalized dashboards
- Supported: Key Performance Indicator setting
- Supported: Benchmarking with external data
- Supported: Flat file integration
- Supported: Excel data integration
- Supported: Direct links to 3rd-party data sources
- Supported: Drill-down analysis
- Supported: Formatting capabilities
- Supported: Report sharing and collaboration
- Supported: Publish to Web
- Supported: Publish to PDF
- Supported: Report Versioning
- Supported: Report Delivery Scheduling
- Supported: Multi-User Support (named login)
- Supported: Role-Based Security Model
- Supported: Multiple Access Permission Levels (Create, Read, Delete)
- Supported: Report-Level Access Control
- Supported: Table-Level Access Control (BI-layer)
- Supported: Field-Level Access Control (BI-layer)
- Supported: Single Sign-On (SSO)
- Supported: Embedded Financial Intelligence
- Supported: Prebuilt Workforce Planning Business Process
- Supported: Prebuilt Capex Planning Business Process
- Supported: Prebuilt Project Financial Planning Business Process
- Supported: Prebuilt Financial Statement Planning Business Process
- Supported: Multi Device Access
- Supported: Close Management with Intelligent Process Automation (IPA)
- Microsoft Office Add-In
|EPM Standard||$250||per user/per month|
|EPM Enterprise||$500||per user/per month|
|Mobile Application||Apple iOS, Android|
|Supported Countries||100+ countries and regions|
|Supported Languages||Arabic, Danish, German, Spanish, Finnish, French, French Canadian, Italian, Japanese, Korean, Dutch, Norwegian, Polish, Portuguese (Brazilian), Russian, Swedish, Turkish, Simplified Chinese, Traditional Chinese|