Drive Accurate, Connected Plans Across Your Business with Oracle Cloud EPM Planning

Drive accurate, connected plans across your business with Oracle Cloud EPM Planning

Reliance on inefficient and disconnected processes, a lack of access to timely data, and lack of budgeting and forecasting tools remain top challenges for finance professionals.

Learn how leading organizations are improving planning, forecasting and budgeting across multiple business dimensions, including products, regions, customers and channels – and thereby driving accurate, connected planning across the organization.

But first, what is Oracle Cloud EPM Planning?

Oracle Cloud EPM Planning is a comprehensive planning and budgeting solution with built-in capabilities including financial planning, workforce planning, capital planning, project financial planning, and strategic modeling. It is ideal for organizations of all sizes and industries who are looking to achieve real-time data and insights, collaborative planning, advanced analytics and more – while minimizing the time and effort it takes to generate a plan, forecast, or budget.

Common Challenges

In one real-world example, a manufacturing company sought to improve its financial planning and forecasting processes to help them make better decisions, improve performance and drive growth. Other challenges include:

Lack of Accuracy and Precision: Manual budgeting and planning processes can be prone to errors and inaccuracies, which can impact the reliability and credibility of the forecasts – not to mention these processes are often also time-consuming. Different teams and departments may be working with different versions, which can lead to inconsistencies and confusion.

Limited Scenario Planning: Manual budgeting processes can make it difficult to create and compare different scenarios for financial forecasting while limiting the ability of the business to model different outcomes and make informed decisions. It can also be challenging to update and compare scenarios in real-time as conditions change.

Inefficient Use of Resources: Manual budgeting and planning processes can be resource-intensive, requiring a significant amount of time and effort from finance and accounting teams. This can be especially challenging for enterprise businesses with complex financial structures and multiple business units. This manual process can also increase the burden on finance and accounting teams and can create frustration and burnout.

Benefits to the Business

According to a study by Forrester Consulting, organizations that use Oracle Cloud EPM Planning can see a return on investment of up to 153% over a three-year period. The study also found that companies can save up to 5,950 hours per year in finance labor by using Oracle EPBCS..

In one case study, a university medical center reported that using Oracle Cloud EPM Planning enabled them to reduce their budgeting process time from 4-6 months to 4-6 weeks. Additionally, the organization was able to streamline their budgeting process and reduce the number of staff involved in the process, resulting in a savings of $1 million in labor costs.

In another case study, a global beauty and wellness company reported that using Oracle Cloud EPM Planning helped them to improve collaboration across departments and geographies, resulting in more accurate financial forecasts and an overall increase in productivity. Additionally, the organization reported a significant reduction in errors and the ability to complete their budgeting process in less time.

Additional benefits include:

  • Improved accuracy and efficiency while automating many of the planning and budgeting processes
  • Faster decision-making from real-time visibility into budgeting and planning data
  • Enhanced reporting analysis, enabling businesses gain better insights into their financial performance
  • More informed forecasts with more accurate and timely data

Finance and IT teams can also benefit from:

  • Reduced Complexity
  • ​Reduced Risk
  • Increased Collaboration
  • Greater Scalability and Flexibility
  • Improved Security
  • Greater Visibility and Control​
Solution : Oracle Enterprise Data Management

Solution: Oracle Enterprise Data Management

How confident are you in the accuracy of your financial data? What challenges are you currently facing with your budgeting and planning process?

Oracle Cloud EPM Planning streamlines data entry by providing templates and workflows that make it easier to enter data accurately and efficiently. It can automatically perform calculations and generate reports based on the data entered, reducing the need for manual calculations and spreadsheet management. The solution also includes a range of reporting and analysis tools that can help finance teams to gain deeper insights into financial performance.

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