In an expansion of its Enterprise Performance Management (EPM) Cloud, Oracle has introduced new offerings for tax reporting, and profitability and cost management as well as new strategic modeling and disclosure management capabilities.
According to Oracle, the EPM Cloud enables finance teams to embrace digital technologies and modern best practices, and as a result, helps organizations to drive accurate and agile plans across finance and operational lines of business, speed financial close, streamline internal and external reporting, and achieve compliance with tax reporting regulations.
“Today’s business leaders are faced with unprecedented changes that demand a rethink of traditional EPM processes and models,” said Hari Sankar, group vice president, EPM product management at Oracle. “To be effective in this new operating environment, finance leaders need to drive operations with confidence, monitor results continuously, and course correct with agility. With the latest additions to Oracle EPM Cloud, we are empowering our customers to embrace change and take advantage of the cloud to capitalize on opportunities faster than their competition.”
Oracle Profitability and Cost Management Cloud is a new offering that enables business users to take ownership of allocation-based business processes such as customer/product profitability, management allocations, and shared services costing. As a result, organizations can improve business performance by gaining insight into hidden profit and cost drivers across business dimensions such as products, customers, sales, and channels.
And, to help organizations gain complete access to the financial data and processes needed to build an efficient corporate tax function, Oracle has introduced Oracle Tax Reporting Cloud, a new offering to help organizations streamline tax data collection and analysis processes and manage complex country-specific tax reporting requirements through automation.
In addition to the new offerings, Oracle has also extended the capabilities of Oracle EPM Cloud. New Strategic Modeling capabilities enable organizations to create long-range forecast models with sophisticated scenario modeling capabilities and debt and capital structure planning features, while new Disclosure Management capabilities allow users to develop regulatory filings in a unified and collaborative environment.
More information is available from Oracle about the Oracle Enterprise Performance Management (EPM) Cloud.