Here’s a quick take on ERP and EPM Cloud, and how they work together to help improve your business.
Oracle ERP Cloud in particular supports streamlining financial business processes and technology requirements. This helps decrease time to decision-making by providing real time access to up-to-date information. When decisions are made more quickly, organizations can realize an increase in operating efficiency by leveraging a built-in collaboration framework, and can reduce costs by increasing productivity.
The ERP Cloud framework allows for swift implementation of the enterprise solution, in addition to supporting phased implementations, while integrating seamlessly with legacy solutions. ERP cloud allows the modern Financial enterprise to operate more efficiently, increasing profitability potential and ensuring compliance with governance and transparency requirements.
Key features of ERP:
- Integrated transaction processing platform for core financial transactions (G/L, A/P, A/R, Fixed Assets, Cash Management, Procurement)
- Integrated reporting and analytics solution providing clear insight into enterprise performance
- Seamless integration with Oracle HCM and Supply Chain Cloud solutions leveraging the same reporting and analytics platform
- Enterprise budget development
- Planning and consolidations across the enterprise
- Modern robust cloud technology platform
When the needs of the organization grow more complex, the EPM Cloud solution is designed to address the planning challenges that arise. Organizations that are leveraging multiple ERP solutions, have complex product or revenue modeling structures, have a large number of organizations to plan for, or are operating multiple international entities, can benefit greatly from leveraging the consolidation and modeling capabilities supported by EPM Cloud.
Key features of EPM:
- Build and manage plans at the level of detail desired by the organization
- Support Financial and budget plans, WorkForce planning, Capital Asset planning, Financial Project planning and Financial Statement planning
- Enable complex enterprise modeling and planning across multiple source systems
- Facilitate complex budget development and maintenance with the ability to leverage multiple source systems
- Consolidation of plans leveraged across the enterprise
- Leverage Out-of-the-box planning models
- Has an Intuitive user interface
- Can be Deployed with minimal IT overhead
And the EPM Cloud seamlessly integrates with the Oracle ERP Cloud, making the utilization of both solutions a highly effective option when needed.
ERP Cloud and EPM Cloud are complementary strategic application platforms that enable key capabilities to be deployed within the organization. Determining the appropriate time to adopt either solution is highly dependent on the current state of the organization and what their strategic objectives are.
The Strafford team has deep experience with both Oracle ERP Cloud and EPM Cloud. We are ready to help your organization with product selection, project implementation and program management for deployment.