Extend the Capabilities of Oracle JD Edwards with Oracle Cloud EPM
There are many benefits of using Oracle Cloud Enterprise Performance Management (EPM) alongside your JD Edwards EnterpriseOne applications. It’s a best in class product providing the capabilities to:
- Optimize the financial close
- Streamline account reconciliation
- Drive accurate and agile integrated plans
- Manage and drive profitability
- Align tax reporting with corporate financial reporting
- Satisfy all your reporting requirements
- Manage change with enterprise data management
Common Challenges
Built-In JDE Financials Reports May Not Be Able to Meet Unique Reporting Requirements: While JDE provides standard financial reports, organizations often have unique reporting requirements. Customizing or creating new reports can be complex and may require technical expertise. These financial reports do not provide levels of detail within different dimensions across the business, and performance and speed may be impacted when dealing with large volumes of data or complex calculations.
Lack of Regulatory Compliance & Reconciliation: JDE does not offer workflow in the form of approving/certifying the financial data for regulatory compliance and audit. JDE may require manual efforts for reconciliation purposes, such as bank reconciliations or intercompany reconciliations. This manual process can be time-consuming and prone to errors, specifically dealing with large volumes of transactions or complexed reconciliation scenarios. Ensuring proper audit trails and controls within JDE can be challenging. Tracking changes to financial data may require additional configurations.
Limited Financial Planning and Analysis: JDE primarily focuses on operational processes and may have limited capabilities for comprehensive financial planning, budgeting, and analysis. JDE may also present challenges in ensuring data integrity and accuracy especially dealing with large volumes of financial data or complex data structures. Oracle EPM includes data integration and quality management features that help ensure accurate data.
Benefits to the Business
According to a study conducted by Nucleus Research, companies that implemented Oracle EPM solutions experienced an average return on investment of 275%. This indicates that the benefits derived from Oracle EPM implementation significantly outweigh the costs.
Oracle EPM customers have reported up to 50% reduction in budgeting and forecasting cycle times. The streamlined processes and automation capabilities of Oracle EPM solutions enable faster and more accurate financial planning.
In a survey conducted by the Association for Financial Professionals (AFP), 92% of organizations using Oracle EPM reported improved decision-making. The enhanced visibility and analysis provided by Oracle EPM solutions enable organizations to make more informed and data-driven decisions.
According to a case study published by Oracle, a leading global financial services firm achieved a 50% reduction in audit time after implementing Oracle EPM. The improved transparency, data governance, and audit trails provided by Oracle EPM solutions support organizations in meeting regulatory compliance requirements.
Additional benefits include:
- Enhanced Financial Planning and Budgeting.
- Comprehensive Financial Reporting
- Efficient Consolidation and Close Processes
- Better Data Accuracy and Integrity
- Advanced Analytics and Insights
- Regulatory and Compliance and Risk Management
- Scalability and Growth
Finance and IT teams can also benefit from:
- Streamlined Financial Planning
- Advanced Forecasting and Scenario Analysis
- Increased Efficiency and Time Savings
- Greater Scalability and Flexibility
- Enhanced Collaboration and Stakeholder Engagement
- Simplified System Integration
- Centralized Data Management
- Enhanced Security and Access Controls
- End-User Empowerment and Self-Service
Solution: Oracle Cloud EPM
What are your current challenges or pain points with your financial planning, reporting, and analysis processes in JD Edwards?
Organizations can leverage EPM’s advanced capabilities for financial planning, reporting, consolidation, compliance, and analysis. This integration helps address the pain points relying solely on JDE. EPM provides Advanced Financial Planning and Analysis, Comprehensive Reporting Analytics, Efficient Financial Consolidation, Regulatory Compliance and Reconciliation, Advanced Budgeting and Forecasting, Integration and Data Consistency, and Scalability and Flexibility.