If your Financial Reporting process consists of manic monthly “fire-drills”, comprising time-consuming manual efforts, it’s time to embrace the Cloud. Earnings are becoming more volatile, data is changing at the speed of light, and management requires reports that deliver insights and are easy to analyse, rather than documents thrown together to meet a deadline, containing errors and duplications.
In our era of heightened governance, it is essential that management can clearly explain the quality and sustainability of corporate performance. How? By embracing Financial Reporting in the Cloud.
The Shortfalls of Manual Reporting
- Time-consuming, flawed process featuring inefficient collaboration
- Errors are made in combining data (what) with narrative (who, when, why)
- Organisations lack the ability to analyse the data to validate the narrative
- Disconnected process leads to:
- A lack of integration
- Inability to track progress and determine who is responsible for individual areas of content
- Lack of access control
The Solution? Oracle Enterprise Performance Management Cloud Services
With Oracle EPM Cloud, users enjoy a secure, collaborative, process-driven approach for defining, authoring, reviewing and publishing financial and management report packages for internal and external stakeholders. It also offers a cross-cloud service reporting tool for producing integrated Cloud EPM reporting.
The Benefits of Financial Reporting in the Cloud
- Deliver more in-depth, more reliable reports, faster
- Ensure users can trust that the numbers are accurate
- Deliver data and the narrative to support it, empowering management to draw actionable insights from the reports
- Combine the what (data), with who, when, why and how (narrative)
- Obtain the most accurate picture possible through collaboration
- Ensure both data access and data integration are optimised, delivering “one version of the truth”, on a single reporting platform
- Manage access, ensuring important and confidential data is visible only to authorised users
- Rapid time-to-value and reduced cost of ownership
- Deliver faster, more accurate insights to all stakeholders, anytime, anywhere
What Does this Mean for My Business?
With EPM Cloud, you’ll be empowered to combine both the data and the narrative in a streamlined process. With this cloud-based reporting solution, you’ll create EPM cloud financial and managerial reports that are confidential and give you the power to leverage advanced analysis capabilities – all in a fraction of the time that manual reporting takes. You’ll be empowered to collaborate securely, while complying with all Regulatory Reporting requirements.
If you’re ready to drop the fire-drill in favour of sound, fast and reliable Financial Reporting, contact the Oracle Services team at Mandy.Leonard@iOCO.tech.