Top 4 Reasons on How EPM (Enterprise Performance Management) Improves Company’s Performance!

 What is EPM?

Oracle Cloud EPM suite consists of module products that are ideal to model and plan across finance, HR, supply chain and sales and drive better decisions. It is a system meant to improve the overall performance of an organization. It assists in business planning and forecasting, data management, formulating strategies, financial management. Organizations look for a daily financial report in the Oracle ERP Cloud system. Implementing an ERP platform with an EMP solution delivers an end-to-end proficiency across the financial teams. EPM provides solutions and analysis of a company’s performance and financial reports across all departments and accumulates all the data in one place. This streamlining reduces response time and decision making faster.

Therefore, an organization drives better decisions after considering changing market conditions. It provides a more unified and better user experience and smoother administration in the various functions of a company.

Let’s have a closer look at the top four reasons how EMP improves enterprises’ performance. 

 

1. Simplifies finances: Most organizations use excel for planning and budgeting, which means an increase in errors and inaccurate data. Oracle EPM Cloud Financial Consolidation & Close module provides dynamic calculations and very few customizations for the cash flow, balance sheet, rollovers, etc. Its implementation automates tracking of key metrics, leverage straightaway calculations, and extends them easily to suit the specific needs of the businesses.

2. Data management: In the fast-changing environment, enterprises generate more data than ever. Implementation of Oracle EPM Cloud enterprise data management solution makes it easy to consolidate data, administrate and organize how the business is utilizing data across the organization.

3. Enhances workforce planning: EPM solution complements HCM cloud oracle and enables an organization to plan for the future. Planning formulation and execution becomes simplified when the strategy is supported by the right workforce and accurate headcount. By assessing demand against supply, an organization can assess the resources and the employees with the specific skill sets that will be required in the future for successful implementation and execution of the strategy.

4. Management and narrative reporting: Managing reports and reducing errors is a challenge companies face. Oracle integration cloud EPM narrative reporting solution defines a secure passage for defining, authoring, reviewing and publishing management and financial reports. It lets you store, analyze, and source data. Oracle integrated cloud EPM is compatible with other oracles (like Oracle ERP or cloud HCM) and non-oracle sources.

Simplification of finances, data management and stronger communication and collaboration across the organization, improves the overall productivity of the business. It contributes to time cutting that goes into compilation and analysis of the data. Implementation of Oracle EPM Cloud automates reporting and analytics. Therefore, streamline finances for the workforce, revenue and expenses, reporting which leads to faster planning and budgeting, resulting in better user experience and eliminating error and inaccurate data.

All the benefits stated above is a tip of an iceberg of how this Oracle-based solution can improve the company’s overall performance. A consultation with one of the best integrators like Tangenz can give a deeper insight into the usefulness of the EPM solution for your company.