Magic Quadrant leader never fails to impress!
Anonymous | TrustRadius Reviewer
October 02, 2019

Magic Quadrant leader never fails to impress!

Score 5 out of 10
Vetted Review
Verified User
Review Source

Modules Used

  • Enterprise Planning Cloud
  • Planning and Budgeting Cloud
  • Profitability and Cost Management Cloud

Overall Satisfaction with Oracle EPM Cloud

Oracle EPM Cloud is only being used by our financial management team in our organization. The two main business problems we are using Oracle EPM Cloud to solve are to manage the performance of our enterprise and for analytics related to business intelligence. We needed a solution that was both easy-to-use and flexible to our changing demands, hence we chose Oracle EPM Cloud.
  • Fast performance. Compared to Oracle EPM Cloud's competitors, we had no problems whatsoever in quickly connecting to the Cloud.
  • User-friendly interface. Navigation is intuitive, and users don't have to shoot in the dark to find settings.
  • Customizable and flexible to an enterprise needs. We have yet to need any external plugins/add-ons for our use cases.
  • Customer support is poor. I and many of my colleagues have had awful experiences repeatedly for trying to get someone on the line for assistance.
  • Abundance of software bugs. EPM Cloud is close, but not quite at the level of maturity. Much time was wasted trying to figure out whether a problem was with the software or our own configuration setup.
  • Repetition and redundancy when filling out forms. I have had to cut-paste the same information multiple times for some steps in the transaction entry forms.
Before we started using Oracle EPM Cloud, we were manually executing processes such as profitability and cost management as our company was smaller back then. Once we started growing, we realized that we needed to scale up, and start automating many of these tasks. With Oracle EPM Cloud, all of these functions have reduced the pressure on our employees, and have increased their productivity by focusing on big-picture goals.
As mentioned previously, we used to have employees who would have to manually create tens of reports, and these reports would have to be sent through email for others to view. With Oracle EPM Cloud, we have managed to automate the creation of the majority of these reports, and all members of organization are able to view them by simply accessing the Cloud.
  • 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.
We used to use Prophix before we switched over to Oracle EPM Cloud. In general, Oracle EPM Cloud and Prophix have similar feature offerings, but Oracle EPM takes advantage of the current major leading technologies. We chose EPM Cloud since we needed to access the Cloud through a web-based client. However, I would say that Prophix out performs Oracle EPM Cloud in terms of it's customer support service and abundance of integrations.
We did not use a system integrator or implementation partner.
Considering the costs of implementing and purchasing the license for Oracle EPM Cloud, I would say it is not well-suited for smaller companies and startups. On the other hand, it is a great solution for medium-sized companies and up. If your budget allows it, this is probably hands-down one of the best EPM systems out there.

Oracle Cloud EPM Feature Ratings

Long-term financial planning
7
Financial budgeting
9
Forecasting
6
Scenario modeling
9
Management reporting
9
Financial data consolidation
9
Journal entries and reports
7
Multi-currency management
8
Intercompany Eliminations
8
Minority Ownership
6
Local and consolidated reporting
6
Detailed Audit Trails
6
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
7
Automated board and financial reporting
9
XBRL support for regulatory filing
6
Personalized dashboards
8
Key Performance Indicator setting
5
Benchmarking with external data
9
Flat file integration
6
Excel data integration
4
Direct links to 3rd-party data sources
6
Drill-down analysis
8
Formatting capabilities
9
Report sharing and collaboration
9
Publish to Web
10
Publish to PDF
10
Report Versioning
10
Report Delivery Scheduling
10
Multi-User Support (named login)
10
Role-Based Security Model
10
Multiple Access Permission Levels (Create, Read, Delete)
10
Single Sign-On (SSO)
9