Oracle announces new capabilities for EPM Cloud service

Business software maker Oracle recently announced expansions to the Oracle Enterprise Performance Management (EPM) Cloud.

EPM cloud

The latest additions to Oracle EPM Cloud include new offerings for tax reporting, and profitability and cost management, as well as new strategic modeling and disclosure management capabilities.

Oracle said its EPM Cloud empowers finance teams to quickly and effectively embrace digital technologies and modern best practices.

As a result, Oracle EPM Cloud enables organizations to drive accurate and agile plans across finance and operational lines of business, accelerate financial close, streamline internal and external reporting, and ensure 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.”

To further extend Oracle EPM Cloud and give organizations fast and intuitive insight into profitability and cost, Oracle has introduced Oracle Profitability and Cost Management Cloud.

The new offering 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 enhance business performance by gaining insight into hidden profit and cost drivers across key business dimensions such as products, customers, sales, and channels.

To help organizations gain complete access to the financial data and processes needed to build an efficient and transparent corporate tax function, Oracle has introduced Oracle Tax Reporting Cloud.

The new offering helps streamline all tax data collection and analysis processes and enables global organizations to 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 to help organizations of all sizes lead with confidence in the digital economy.

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.

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