AI era’s business world is marked by inflationary pressures, geopolitical uncertainties, and talent scarcities, companies are increasingly turning to digital transformation to fortify their strategies for the future. Among the myriad tools driving this transformation is Oracle Enterprise Performance Management, representing a new era of agility and resilience.
Drawing insights from a comprehensive survey encompassing over 500 finance professionals across 22+ industries, we delve into the pivotal role Oracle Cloud EPM plays in equipping organizations to confront and thrive amidst accelerated change. Here's a compelling exploration of how Oracle Cloud EPM empowers enterprises on their transformative journey:
1. Connected Planning in the Cloud
Embracing the Cloud signifies not just a technological shift but a strategic evolution towards interconnectedness. Our findings reveal a surge in connected planning across various business domains, buoyed by the integration of AI and ML capabilities. Oracle Cloud EPM users exhibit a remarkable 89% increase in bridging supply chain planning with financial planning, effectively dismantling silos and fostering holistic insights. Moreover, they demonstrate an 82% uptick in leveraging EPM for enhancing environmental sustainability data, highlighting the platform's versatility in addressing contemporary challenges.
2. Streamlined Financial Close with Automation
The journey to financial excellence necessitates a streamlined, efficient close process. Oracle Cloud EPM emerges as a game-changer, offering automation-driven solutions that expedite and enrich the closing experience. Witnessing a staggering 62% enhancement in transaction-matching efficiency and a corresponding reduction of 62% in spreadsheet reliance for reconciliations, users report tangible benefits in terms of accelerated close cycles and swifter report generation. With 57% witnessing a reduction in closing days per cycle and 77% reporting expedited report delivery, Oracle Cloud EPM emerges as the cornerstone of operational efficiency. [1]
3. Empowering Transformation with Enterprise Data Management (EDM)
In the realm of transformative change, agility and adaptability reign supreme. Oracle EDM emerges as a catalyst for organizational metamorphosis, facilitating seamless transitions and enhancing change management efficiencies. By harnessing Oracle EDM, organizations witness a notable surge in productivity, particularly in routine chart of account modifications and structural transformations such as mergers and acquisitions. With 78% of users citing improved productivity and enhanced change management capabilities, Oracle EDM emerges as a linchpin in driving enterprise agility and resilience.
Essentially, Oracle Cloud EPM transcends its conventional role as a financial management tool, emerging as a strategic ally in navigating the tumultuous waters of today's business landscape. By embracing the power of AI and ML, streamlining financial processes through automation, and fostering organizational agility via robust data management, Oracle Cloud EPM empowers enterprises to not only weather the storms of change but to thrive amidst uncertainty.
In an era where agility and operational excellence are indispensable, Oracle Cloud EPM stands as a beacon of innovation, equipping organizations with the tools and insights needed to seize opportunities and conquer challenges in the relentless pursuit of success.
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