At NexInfo Solutions, we are excited to share the news that Oracle has been named a Leader in both the 2023 Gartner® Magic Quadrant™ for Financial Planning Software and the 2023 Gartner® Magic Quadrant™ for Cloud Financial Close and Consolidation Solutions. Oracle’s position as a Leader in both reports underscores the company’s exceptional performance in “Completeness of Vision” and “Ability to Execute” for its Oracle Fusion Cloud Enterprise Performance Management (EPM). 

Meeting the Challenges of Today’s Financial Landscape 

In a world marked by inflation, high interest rates, and economic volatility, businesses need efficient and accurate financial processes to stay competitive. Oracle Cloud EPM is designed to help finance leaders overcome these challenges by automating manual processes, embracing continuous innovation, and enabling comprehensive planning and analysis across finance, HR, supply chain, and sales. This solution helps finance teams streamline workflows, reduce time to close books, improve reporting speed and accuracy, and make better business decisions. 

“Manual and disconnected financial processes slow down decision-making and create strain on finance teams,” said Hari Sankar, Group Vice President, Product Management at Oracle. “Oracle Cloud EPM empowers organizations to adopt automation and intelligence, enhancing the accuracy and speed of financial insights. We believe our leadership status in both Magic Quadrant reports highlights the effectiveness of our product strategy and the significant value our customers gain from intelligent, connected financial processes.” 

Oracle Cloud EPM: Key Features and Benefits 

As part of the Oracle Fusion Cloud Enterprise Resource Planning (ERP) suite, Oracle Cloud EPM provides a comprehensive range of capabilities to optimize financial planning, close processes, and operational alignment. Here are some of the top features of Oracle Cloud EPM: 

  1. Faster, More Accurate Financial Close 
  1.  Oracle Cloud EPM offers Financial Consolidation and Close capabilities, which help finance teams manage the entire consolidation process with greater accuracy and efficiency. Automation of account reconciliations and transaction matching, along with tax reporting solutions, reduces global reporting time and mitigates security and risk concerns. 
  1. Connected Planning Across the Enterprise 

 Oracle Cloud EPM brings finance, operations, and lines of business together, enabling a unified view of planning processes. Built-in best practices and advanced scenario modeling capabilities provide organizations with the agility to navigate uncertainty and enhance forecasting accuracy. 

  1. Embedded AI for Intelligent Insights 

 With Intelligent Performance Management capabilities, Oracle Cloud EPM leverages AI to analyze financial and operational data. By identifying patterns and predicting outcomes, it helps finance leaders make informed decisions quickly, ensuring organizations can act proactively to seize opportunities or address challenges. 

  1. Continuous Innovation 

 Oracle Cloud EPM offers ongoing updates in AI, machine learning, digital assistants, and advanced analytics, ensuring customers have access to the latest innovations. Its self-updating platform enables businesses to stay ahead of the curve, adapting to new market demands and leveraging cutting-edge technologies on-demand. 

Customer Recognition and Peer Reviews 

Oracle’s leadership in financial planning and close solutions is further validated by its strong customer ratings. According to Gartner Peer Insights™, Oracle was named a Customers’ Choice for North America in the 2023 Gartner Peer Insights Voice of the Customer report for Financial Planning Software. Furthermore, reviews of Oracle’s Financial Close and Consolidation solutions indicate that 95% of users would recommend Oracle Cloud EPM to their peers as of December 12, 2023. 

Oracle has consistently earned industry recognition for its finance applications, recently being named a Leader in both the 2023 Gartner® Magic Quadrant for Cloud ERP for Service-Centric Enterprises and the 2023 Gartner® Magic Quadrant for Cloud ERP for Product-Centric Enterprises. 

Looking Forward 

With Oracle Cloud EPM, organizations can drive transformation, improve financial processes, and embrace automation for more accurate and faster decision-making. As businesses continue to adapt to an ever-changing landscape, Oracle remains a trusted partner in building smarter, more efficient finance teams. 

To learn more about Oracle Cloud EPM and its comprehensive suite of solutions, visit oracle.com/epm. 

Sources: Oracle Named a Leader in 2023 Gartner® Magic Quadrant™ Reports for Financial Planning Software and Financial Close and Consolidation Solutions