By Al Marciante, Rich Wilkie, and Marc Seewald
With Kscope17 quickly approaching, it gives your Oracle EPM Product Management team a chance to reflect on our accomplishments over the past year, and build excitement for what is next in store for our customers. If you attended Kscope16’s EPM Sunday Symposium, you were already well informed of what to expect over this last year, as you were among the first to see many of these accomplishments in their raw R&D form. We have highlighted several new solutions to our Oracle EPM Cloud offering in previous articles, and this article will catch you up on the latest.
December 2016 saw the introduction of a new cross-cloud EPM reporting module within Oracle Enterprise Performance Reporting Cloud (EPRCS). The new enhancement, known as Management Reporting (MR), provides a powerful and state of the art solution for developing and delivering grids and charts of data from your EPM Cloud applications. It is directly integrated with the narrative report package process, providing pure server-side updates to narrative reporting data presentations and visualizations, reducing the time, cost and complexity of your reporting cycles. Management Reporting is included as part of the EPRCS subscription, and along with previously delivered reference doclet and variables frameworks, it provides one of the most robust and functional narrative reporting offerings on the market. Be sure to check out https://cloud.oracle.com/enterprise-performance-reporting-cloud, as well as our videos on YouTube for additional information on EPRCS and/or Management Reporting.
In January of 2017, Oracle delivered a new add-on module to our account reconciliation tool that really extends the value of the solution and helps solve a lot of common business problems. The Transaction Matching module is now available as an add-on to the Oracle Account Reconciliation Cloud Service and is focused on high volume system to system matches. Transaction Matching automates performance of transaction intensive reconciliations, supporting two source reconciliations processes like intercompany and bank reconciliations, as well as single source reconciliations like high volume accrual and suspense accounts. This complements the existing Reconciliation Compliance module which manages the tracking and performance of reconciliations. With Reconciliation Compliance, organizations ensure accounts are properly reconciled using the correct format and containing thorough and complete justifications including workflow. Both modules help save time through automation and help organizations focus on the high risk areas and not spend so much time on the busy work of reconciliations. This increases compliance, reduces delays and helps align resources to the right problems versus a scatter gun approach. For more information check out https://cloud.oracle.com/en_US/account-reconciliation-cloud for details, data sheets, videos, etc.
In February 2017, we launched the Oracle Tax Reporting Cloud Service (TRCS), the latest addition to the EPM Cloud. This is one more step to making the Oracle EPM Cloud the most comprehensive EPM solution in the marketplace. TRCS builds on the success of our on-premises tax products: Hyperion Tax Provision (HTP) and Hyperion Tax Governance (HTG). However, you should note the naming for the new cloud service. With TRCS, we have combined the capability of HTP and HTG into a single cloud service for a single price. The solution is built on the same platform as the rest of the EPM cloud, and has pre-built integration to the Oracle ERP Cloud, Oracle Financial Close and Consolidation Cloud (FCCS), and the rest of the EPM Cloud through the included ‘data management’ feature. Similar to HTP, the solution addresses includes out-of-box capability for the tax provision as well as the new merging requirement for Country by Country Reporting. Additionally, the Workflow capability (based on the same close manager capability included in FCCS) can be enormously valuable in helping to manage the numerous time-sensitive business processes in the corporate tax department such as tax return filing dates, tax audits, transfer pricing, etc. The Supplemental Data Manager capability is perfectly suited to automate tasks such as R&D Credit surveys and transactional data collection. Finally, the pre-built Dashboards include insight into typical tax KPIs and can be further configured for the unique requirements of the tax department. TRCS represents an enormous value for your tax department and continues Oracle’s focus on “bringing tax and finance together”. For more information check out https://cloud.oracle.com/en_US/tax-reporting-cloud for details, data sheets, videos, etc.
It was quite a busy 9+ months since we last saw each other in the Sunday Symposium. As we work with our development teams to ensure another successful day for Kscope17, we hope you will join us again. We know it is often difficult to spend your off day, and often times the weekend, away from your family. But as we approach the 10th anniversary of Hyperion/EPM at ODTUG, we promise to make the day as interesting and exciting as possible. As always, thanks for all your support and look forward to seeing you in San Antonio.