Oracle Cloud EPM is a suite of integrated software applications offered by Oracle to help businesses manage financial planning, budgeting, forecasting, and performance analysis. It aims to enable organizations to plan, track, and optimize their financial performance and operational efficiency. Oracle Cloud EPM provides businesses with a scalable, secure, and flexible cloud-based platform to perform financial consolidation, planning, reporting, and analysis. 

History of Oracle Cloud EPM 

Oracle Cloud EPM has its roots in Oracle Hyperion, a product originally developed by Hyperion Solutions. Hyperion was known for providing enterprise performance management solutions like financial consolidation, planning, and budgeting software, and was acquired by Oracle in February 2007. This acquisition helped Oracle expand its capabilities in the financial performance management domain, bringing in a wealth of expertise and tools that formed the foundation of Oracle’s EPM offerings. 

Oracle then transitioned many of its on-premise EPM solutions, including Hyperion, to the cloud as part of its cloud-first strategy. This transition to Oracle Cloud EPM allowed businesses to take advantage of improved flexibility, scalability, and a modernized user interface while integrating with other Oracle Cloud applications (such as Oracle ERP Cloud). 

The Role of Oracle Cloud EPM in Business 

Companies require real-time access to accurate financial data to make informed decisions. Oracle Cloud EPM addresses this need by providing tools that help businesses: 

  • Plan and Budget: Set and adjust financial forecasts and operational plans, ensuring better alignment with business goals. 
  • Track Performance: Monitor financial and operational performance against targets, and make timely adjustments. 
  • Consolidate Financial Data: Combine data from various sources for financial reporting, consolidation, and compliance. 

Modules of Oracle Cloud EPM 

Oracle Cloud EPM includes a comprehensive set of modules designed to address specific business needs: 

  1. Planning and Budgeting: Streamlines the planning, budgeting, and forecasting processes. Integrates financial and operational data across the organization. 
  2. Financial Consolidation and Close: Automates the close process and ensures compliance with global financial standards. Supports complex consolidations and reporting requirements. 
  3. Profitability and Cost Management: Provides insights into cost structures and profitability to guide decision-making. 
  4. Enterprise Performance Reporting: Delivers intuitive, data-driven reports and dashboards for business leaders to assess performance. 
  5. Data Management: Enables seamless integration and management of financial and operational data from various systems. 
  6. Narrative Reporting: Combines financial reports with text-based narratives for richer, more contextual decision-making. 

 

Oracle Cloud EPM vs. Oracle EPM On-Premise 

  • On-Premise EPM (Hyperion): Historically, many organizations relied on on-premise solutions like Oracle Hyperion for EPM. While these systems were robust and customizable, they required significant upfront investment, infrastructure management, and manual upgrades. 
  • Oracle Cloud EPM: As businesses increasingly moved toward cloud-based solutions, Oracle transitioned Hyperion and other EPM tools to the cloud, offering benefits such as: 
  • Scalability: Businesses can scale resources according to their needs. 
  • Automatic Updates: Cloud applications receive continuous updates without the need for manual intervention. 
  • Security: Oracle provides enterprise-grade security for cloud-hosted applications. 
  • Accessibility: Cloud-based solutions can be accessed from anywhere with internet connectivity. 

Oracle EPM Cloud 1

Oracle Cloud EPM Implementation 

The implementation of Oracle Cloud EPM involves careful planning and execution to ensure that businesses transition smoothly from traditional on-premise solutions (like Hyperion) to the Oracle Cloud platform. Below are key considerations in the implementation process: 

  1. Initial Assessment: Understand the organization’s current EPM processes, systems, and requirements. Perform a gap analysis to identify the differences between existing systems and Oracle Cloud EPM. 
  2. Configuration and Integration: Customize Oracle Cloud EPM to meet business-specific needs, including workflows and integration with other Oracle Cloud apps (ERP, HCM, etc.).
  3. Data Migration: Migrate historical data from on-premise systems like Hyperion to Oracle Cloud EPM, ensuring data integrity and consistency. 
  4. User Training: Provide comprehensive training for users to familiarize them with the new cloud system and ensure adoption. 
  5. Go-Live Support: Offer ongoing support during the transition period to resolve any issues and ensure smooth operations. 

 

Oracle Cloud EPM Migration: Hyperion to Cloud EPM 

The migration from Hyperion (on-premise) to Oracle Cloud EPM presents several challenges, such as data transfer, system reconfiguration, and training employees on new tools. The key steps in migration include: 

  1. Assessing the Existing Hyperion Setup: Understand the current Hyperion configurations, reports, and data structures. 
  2. Mapping Hyperion Features to Oracle Cloud EPM: Identify the corresponding modules and features in Oracle Cloud EPM to replicate the current functionality. 
  3. Data Migration: Move data from Hyperion to Oracle Cloud EPM, using tools such as Oracle Data Management for efficient and secure data transfer. 
  4. Testing and Validation: Conduct thorough testing to validate that all processes, reports, and workflows work correctly in the cloud environment. 
  5. Training and Support: Provide training on the new system and offer post-migration support to ensure users can fully leverage Oracle Cloud EPM. 

Oracle EPM Cloud 2

Oracle EPM Cloud Methodology 

Oracle EPM Cloud implementation follows a systematic approach that involves: 

  1. Project Planning: Define goals, timelines, and resource allocation. 
  2. Solution Design: Design a customized EPM solution based on the business requirements. 
  3. Configuration and Setup: Configure Oracle Cloud EPM to meet the defined requirements. 
  4. Integration: Integrate with other Oracle Cloud applications and third-party systems. 
  5. Testing and Go-Live: Ensure that the system works as expected before going live. 
  6. Post-Go-Live Support: Ongoing assistance for users and continued optimization of the system. 

 

 

NexInfo – Differentiation from Other Implementation Partners 

NexInfo, as an Oracle Cloud EPM implementation partner, brings deep expertise in the EPM and cloud transformation space. Here’s how they stand out from other implementation partners: 

  • Experience with Oracle EPM Solutions: NexInfo has a strong background in implementing Oracle EPM Cloud solutions, specifically Hyperion migrations, planning, and budgeting processes. 
  • Tailored Solutions: They focus on providing customized solutions that fit each business’s unique needs, ensuring that clients don’t just use Oracle Cloud EPM but fully leverage its capabilities for their business goals. 
  • Proven Methodology: NexInfo follows an established, structured methodology for Oracle EPM implementations, which reduces risks and ensures smooth project execution. 
  • Customer-Centric Approach: NexInfo’s implementation process emphasizes collaboration, ensuring that clients are fully supported through every step of their Oracle Cloud EPM journey. 
  • End-to-End Support: From initial consultation to post-go-live support, NexInfo ensures comprehensive support throughout the lifecycle of Oracle Cloud EPM. 
Oracle ERP Financial





     

    Oracle Cloud EPM offers businesses a robust, scalable solution to improve their financial planning, budgeting, forecasting, and performance management. 

    With modules designed to address various business needs, it helps organizations make informed decisions and optimize operations. Migrating from traditional on-premise systems like Hyperion to Oracle Cloud EPM presents challenges, but with the right partner, such as NexInfo, companies can navigate the transition smoothly and unlock the full potential of Oracle Cloud EPM. 

    Oracle Cloud EPM licensing options are flexible, with solutions available for businesses of all sizes, including small businesses. Oracle EPM Cloud licensing is tailored to ensure the most effective pricing for organizations, offering different models based on their specific requirements. Companies can choose from a range of options, including Oracle Enterprise Performance Management license, that suits their needs, helping them to scale and improve their financial performance management. 

    Oracle Cloud EPM is a transformative tool that enhances financial processes, while NexInfo ensures a seamless migration from legacy systems like Hyperion, helping businesses leverage the advantages of a modern cloud platform. By adopting Oracle EPM pricing and choosing the best Oracle EPM subscription options, companies can maximize their investment. Oracle Cloud EPM licensing options for small businesses are designed to be cost-effective, offering scalability and flexibility without excessive upfront costs.  

    Oracle Cloud EPM offers flexible licensing based on the number of named users or those authorized to access the platform. This model allows businesses to scale easily based on their needs. The platform includes two environments—production and staging—to support seamless operations and testing. The features available in Oracle Cloud EPM licensing include business processes depending on the subscription tier, ensuring a tailored solution for every business. Usage limits are defined by the number of users and processes in use. For businesses that require more capacity, additional pods can be added for enhanced performance. 

    Subscriptions come in two tiers: 

    • EPM Standard Subscription: A customizable suite of business processes perfect for small to mid-sized businesses looking to streamline financial operations. 
    • EPM Enterprise Subscription: This comprehensive plan includes everything from the Standard Subscription, plus access to the complete suite of EPM Cloud business processes, empowering organizations to optimize every aspect of their enterprise performance management. 

    FAQs about Oracle Cloud EPM 

    1. What is the main benefit of Oracle Cloud EPM over traditional on-premise solutions?

    The main benefits of Oracle Cloud EPM include scalability, flexibility, and lower cost of ownership. With cloud-based deployment, companies can avoid hardware costs, automatically receive updates, and access the system from anywhere. 

    1. How long does it take to implement Oracle Cloud EPM?

    The implementation timeline for Oracle Cloud EPM varies depending on the complexity of the business requirements, the number of modules being deployed, and the amount of customization needed. Typically, the process can take anywhere from a few months to a year. 

    1. Can Oracle Cloud EPM integrate with other Oracle Cloud applications?

    Yes, Oracle Cloud EPM is designed to integrate seamlessly with other Oracle Cloud applications such as Oracle ERP Cloud, Oracle HCM Cloud, and Oracle SCM Cloud. This ensures a unified approach to business operations. 

    1. How do I migrate from Hyperion to Oracle Cloud EPM?

    Migration involves planning the transition, mapping existing Hyperion features to Oracle Cloud EPM, migrating historical data, and ensuring that all customizations are replicated. Oracle offers migration tools to assist with the process. 

    1. What kind of support is available after going live with Oracle Cloud EPM?

    Oracle and its partners, such as NexInfo, offer post-go-live support, including issue resolution, performance optimization, and ongoing updates. This ensures that the system continues to meet business needs as the organization evolves. 

    1. Can Oracle Cloud EPM be used by small businesses?

    Yes, Oracle Cloud EPM is scalable and suitable for businesses of all sizes. Small businesses can take advantage of its modular approach, selecting only the features they need and scaling up as they grow. 

    1. What is the cost of Oracle Cloud EPM?

    Oracle cloud EPM is licensed in a Subscription based model. The cost of Oracle Cloud EPM is pricing based on factors like the number of users, modules used, and the specific configuration of the platform. It’s generally more cost-effective than on-premise solutions due to reduced infrastructure and maintenance costs.  

     

    To learn more about Oracle Cloud EPM, schedule a consultation, or get assistance with your Oracle Cloud EPM implementation, contact NexInfo todayÂ