REDWOOD SHORES, Calif., Aug. 14,
2017 /PRNewswire/ -- Extending its commitment to
helping organizations drive predictable performance and report with
confidence, Oracle today announced significant expansions to Oracle
Enterprise Performance Management (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.
In today's global economy, organizations need to continually
refine their business models to respond to disruptive threats and
competitive opportunities. To help organizations successfully
manage these changes, from strategy to results, Oracle 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.
"Our clients are facing constant and growing disruption in their
businesses and highly developed planning and analysis capabilities
are a must for leading CFOs," said Richard
Beacham, principal and EPM practice lead for KPMG in the
U.S. "With the new offerings and capabilities Oracle is delivering,
we believe our clients will continue to adopt our Oracle EPM
Cloud-enabled solutions to help transform their business and
accelerate competitive advantage."
For additional information on Oracle Enterprise Performance
Management (EPM) Cloud, visit Facebook and Twitter or the Modern
Finance Leader blog.
About Oracle
The Oracle Cloud offers complete SaaS application suites for ERP,
HCM and CX, plus best-in-class database Platform as a Service
(PaaS) and Infrastructure as a Service (IaaS) from data centers
throughout the Americas, Europe
and Asia. For more information
about Oracle (NYSE:ORCL), please visit us at www.oracle.com
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Safe Harbor
The preceding is intended to outline our general product direction.
It is intended for information purposes only, and may not be
incorporated into any contract. It is not a commitment to deliver
any material, code, or functionality, and should not be relied upon
in making purchasing decisions. The development, release, and
timing of any features or functionality described for Oracle's
products remains at the sole discretion of Oracle Corporation.
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SOURCE Oracle