Oracle Cloud EPM in the media industry
Aissam Drai | TrustRadius Reviewer
Updated January 15, 2020

Oracle Cloud EPM in the media industry

Score 9 out of 10
Vetted Review
Verified User
Review Source

Modules Used

  • Account Reconciliation Cloud

Overall Satisfaction with Oracle EPM Cloud

Oracle Account Reconciliation Cloud is used by finance. It is used to reconcile accounts during period-end activities.
  • Automate the reconciliation process
  • Contributes to reducing the time it takes to close the books
  • Automate the reconciliation process
  • It would be great to embed AI (Artificial Intelligence) into ARC so that it learns the reconciliation error patterns
  • RPA (Robotic Process Automation) could be a good addition to ARC to automate the full process of reconciliation and correction
At the moment, we are only using ARC to reconcile accounting entries between ledger and sub-ledger. However, it is planned in our roadmap to expand ARC into other EPM/Fusion products.
We have partially achieved our reporting needs through EPM. EPBCS and FCCS have some strong reporting capabilities giving the user better insight into the enterprise data. EPBCS, for example, has increased the visibility to our budgeting data by nearly 60%.
  • Process streamlining
  • Efficiency
  • Time reduction
Not yet, but I'm interested in Oracle user groups - I am not a member of any user groups but I would be interested to join one
EPM was the only product we have evaluated.
ARC is well suited for period and year-end close process.

Oracle Cloud EPM Feature Ratings

Financial budgeting
8
Forecasting
8
Scenario modeling
8
Management reporting
8
Financial data consolidation
9
Journal entries and reports
9
Multi-currency management
9
Intercompany Eliminations
9
Local and consolidated reporting
9
Detailed Audit Trails
9
Financial Statement Reporting
9
Management Reporting
9
Automated board and financial reporting
8
Flat file integration
8
Excel data integration
8
Drill-down analysis
8
Formatting capabilities
8
Report sharing and collaboration
9
Multi-User Support (named login)
8
Role-Based Security Model
8
Single Sign-On (SSO)
8

Oracle EPM Cloud Decision Factors

25% of IT spend is allotted to growing the business. The rest is allocated to running the business. We are a pioneer in terms of taking on new initiatives and trying new things out. Hence, the 25% we spend every year on growing the business.
Being an existing Oracle customer, we never considered any other product other than EPM. We were also convinced that Oracle Cloud EPM is best in breed when it comes to handling the budgeting process. Hence, our decision to only look into Oracle Cloud EPM. IT was driving the decision to buy such a product.
  • New CEO, CFO, CIO, etc.
  • New business needs/initiatives
A single vendor is better positioned to understand the customer's vision and strategy. They also consider the investment made in other areas such as ERP or HCM.
Industry-specific software is important because while ERP addresses the common processes in Finance, HR, and procurement, the core business of a given company could be very specific and needs specialized business applications that seamlessly integrate with ERP. A single vendor has the ability to provide this kind of solution.

Adoption, and Customer Service

We have been receiving good support so far from Oracle through the CSM we deal with.
There is still a tremendous amount of work we need to do with the product adoption.

Using Oracle EPM Cloud

70 - Core Finance business users and users from different other departments
2 - 1 functional and 1 technical
  • Budgeting & planning for Opex/Capex and Manpower
  • Profitability and Cost Management
  • Chatbot
  • Digital Assistant
  • Enable ARC
  • Enable performance reporting
The product has made a difference in the way we run our operations

Evaluating Oracle EPM Cloud and Competitors

  • Price
  • Product Features
  • Product Usability
  • Product Reputation
  • Existing Relationship with the Vendor
  • Analyst Reports
Product features
We would do it the same way.

Oracle EPM Cloud Implementation

  • Third-party professional services
Evosys
Yes - FCCS
EPBCS/Manpower
EPBCS/Capex & Opex
Change management was a major issue with the implementation - We need to take more time with the business stakeholders explaining to them what the product could do for them and how they could benefit from it.
  • EPM is not always a plug and play product
  • It requires a different technical skill set (ESBASE)

Oracle EPM Cloud Training

The interface is easy to learn but we faced a challenge with the technical knowledge which requires a different skillset (ESBASE)

Configuring Oracle EPM Cloud

EPM is only good if you have the right structure set up in your environment.
The core financial structure needs to be streamlined before you should consider implementing EPM
No - there is no facility to customize the interface
No - the product does not support adding custom code

Oracle EPM Cloud Support

ProsCons
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
Support understands my problem
Quick Initial Response
Escalation required
Difficult to get immediate help
The exceptional support is usually received through the CSM not through Oracle support directly

Using Oracle EPM Cloud

EPM usability is good in some modules but needs some improvement in others
ProsCons
Like to use
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Familiar
Unnecessarily complex
Cumbersome
Feel nervous using
  • Reporting
  • Consolidation
  • Budgeting recharges
  • ARC

Oracle EPM Cloud Reliability

The product is scalable
EPM has been so far available all the time
The product performance is so far very good

Integrating Oracle EPM Cloud

Relationship with Oracle

The vendor was good
There should have more involvement from the vendor after the implementation