Enterprise performance management (EPM) is one of your company’s most important functions. From financial planning and analysis to consolidation and close, EPM allows you to assess the health and future of your business and understand its inner workings at a deep level.
Unfortunately, far too many organizations are still bogged down in slow, inefficient EPM processes. Spreadsheets and manual processes are all too common, making an already laborious financial close even more time-consuming. It’s little wonder that it takes businesses an average of 8 days to complete the financial close process—more than half a day longer than it did a decade ago.
That’s why using cutting-edge, feature-rich EPM software is so important. The difference between stale EPM on-premise software and state-of-the-art EPM cloud software can mean the difference between leading the industry and falling to the back of the pack.
In a 2019 survey, Oracle reached out to companies who both do and don’t use Oracle EPM Cloud software—and the contrast couldn’t be clearer. Companies who use Oracle EPM Cloud report a variety of positive outcomes:
- 79 percent report having a less complex financial close.
- 73 percent have improved the flexibility of their financial reporting.
- 71 percent can automate more tasks and improve efficiency.
Oracle plans to end bug fixes and security updates for Hyperion 18.104.22.168 on-premise by December 2020. With the deadline just a year away, current Hyperion on-premise customers are now at a crossroads: should they continue with Hyperion on-premise, or make the leap into Oracle EPM cloud software?
Here at Datavail, we’ve observed the benefits of Oracle EPM Cloud for our own clients. Our customers using Oracle EPM Cloud include:
- An automotive company that has improved data reporting and accuracy.
- A U.S. construction company that slashed their financial close cycle from 15 days to just three days.
- A leader in the worldwide electronics industry who eliminated 1.5 full-time hours of tedious manual work by automating their account reconciliation processes.
Oracle EPM Cloud migrations can help you save time and boost productivity by switching to a modern, high-quality EPM solution. Interested in learning more? Download our ebook “9 Companies That Gained Measurable Benefits by Migrating to Oracle EPM Cloud.”
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