Put your head in the clouds with EPM Cloud excellence!
February 12, 2019

Put your head in the clouds with EPM Cloud excellence!

Vishal Shivdasani | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Modules Used

  • Enterprise Planning Cloud
  • Planning and Budgeting Cloud
  • Enterprise Performance Reporting Cloud
  • Financial Consolidation and Close Cloud

Overall Satisfaction with Oracle EPM Cloud

My client is a multi-billion, multi-national construction and infrastructure company. Oracle EPM cloud was used to report monthly, quarterly, half year and full year. EPM cloud is also used to consolidate through the divisions and with the parent company in the UK. Reporting to the London Stock Exchange, providing timely consolidations to the level of detail required, over various divisions globally was a problem that the client struggled with for many years. Ultimately, they upgraded from HFM (standalone, on-prem) to Oracle EPM Cloud across the US and currently being implemented across all global divisions. The predominant problem being addressed is seamless consolidation and vital data capture for reporting on IFRS and GAAP globally.
  • Data integrity
  • Cloud integration - high availability and locally implemented instances that provide a custom feel
  • Systematic and customized capture of vital information
  • Does not necessarily require a dedicated administrator
  • Menus are not always intuitive.
  • When errors occur it is not always easy to pinpoint where the errors are coming from.
  • Customization is always a challenge with many products. Stock reports and operational financial information needs to be a priority during the implementation phase, so that a fully functioning finance department is not debilitated once live.
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.
  • Time savings
  • Labor savings
  • Faster close
  • Seamless consolidations
  • ability to report to parent
  • Parent can pull information from local instance
  • Smartview / Excel interface can be tricky
It is a top 3 product in its class. Having used EPM the most I would rate it the highest. Also used PBCS very successfully. This was selected as the path of least resistance. The upgrade was from HFM to EPM Cloud using JDE as the GL.
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.

Oracle Fusion Cloud Enterprise Performance Management Feature Ratings

Long-term financial planning
Financial budgeting
Scenario modeling
Management reporting
Financial Statement Reporting
Management Reporting
Excel-based Reporting
Automated board and financial reporting
XBRL support for regulatory filing
Not Rated
Personalized dashboards
Key Performance Indicator setting
Benchmarking with external data
Flat file integration
Excel data integration
Direct links to 3rd-party data sources