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OpenWorld 2015 CON7031 – What’s New What’s Coming Financial Close in the Cloud
Richard Wilkie Sr Director EPM October 28, 2015
Oracle Confidential – Internal/Restricted/Highly Restricted Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Safe Harbor Statement
The following 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.
Oracle Confidential – Internal/Restricted/Highly Restricted 2
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
of surveyed companies currently use or will consider deploying EPM in the cloud over the next year
Finance Sees the Benefits of Cloud
> 75%
Source: Oracle 2014 Top Trends Research
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Finance Sees the Benefits of Cloud
Source: Oracle 2014 Top Trends Research
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Deployment
• No IT involvement
• Can be departmental solutions rather than Enterprise
• Easier to deploy globally since operators have Global data centers
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Oracle Cloud: Global Data Centers
• Unsurpassed Global & Regional Coverage • State of the Art Facilities – Tier IV Class • Baseline 99.999% Availability of Power/Cooling • 24X7 Active Monitoring and Support
Chicago
Ashburn
Austin
Japan
Singapore
Sydney CY15
Linlithgow
Amsterdam London
Brazil CY15
Germany Canada
Melbourne CY15
PBCS
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Cost
• Less upfront cost
• CAPEx v/s Opex
• Cheaper consulting wise since many Cloud applications have configurations built in
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Speed
• Quick to get started since the system can be up in hours v/s months
• Always available since operator is doing all the backups/uptime etc.
• New features/functions quickly available in frequent service updates
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Installation
Patching
Upgrade
On Cloud
• No Hardware
Reduced Implementation Time No Set-up & Maintenance
Requirements
Design
Build
Learn
Roll Out
Retain Configurations &
Customizations
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Simplicity
• Cloud apps are modern – Social, Mobile, Analytics built in
• User interface is simpler so easier to adopt
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Oracle EPM Cloud -
• Oracle EPM Cloud is Comprehensive
1. Planning and Budgeting Cloud Service: General Availability
2. Enterprise Performance Reporting Cloud Service: General Availability
3. Planning and Budgeting Enterprise Cloud Service: Active Development
4. Financial Consolidation and Close Cloud Service: Active Development
5. Account Reconciliation Cloud Service: Active Development
6. Profitability & Cost Management Cloud Service : Active Development
7. Essbase Cloud Service : Active Development
8. Tax Provision and Reporting Cloud Service: Active Development
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Oracle EPM Cloud Service
14
Planning (PBCS, EPBCS, PSPBCS, HEPBCS)
Corporate Finance & Tax
Operational Users
Executive Information Technology
Financial Close (FCCS, TPRCS, ARCS)
EPM Cloud Platform
Configurable Platform
Automated Oracle Updates
Secure & Scalable
ESSBASE
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
• Comprehensive stand-alone Tax Provision & Reporting solution
• Data Collection
• Calculation
• Reporting
• Integration with Financial Consolidation and Close Cloud Service (FCCS)
• Simplified Tablet Interface
• Data & metadata integration with On-premise finance systems
• Secure: Role-based, auditable access
• Governance-Like capability included in cloud service
• Expected migration from HTP
• Enterprise Grade: Security, High Availability, Scalability
• Fully Managed: Patched, Backed Up, Upgraded by Oracle
Oracle EPM Cloud Oracle Tax Provision and Reporting Cloud Service
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
• Address the global reconciliation process
• For each process provide complete lifecycle including – verifications, tracking of assignments, managing preparation and review, minimizing risk and optimizing the process.
• Integrated with transaction systems
• Flexible and robust user owned reporting
• Fully integrated with the EPM Cloud
Oracle EPM Cloud Oracle Account Reconciliation Cloud Service
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
ARCS Benefits
• All the great functionality in On Premise ARM plus:
• Simplified Tablet User Interface
• New analytics covering operational performance and compliance
• Supporting “social interactions” around reconciliations
• Quick deployments
– Pre-Defined content
– Flexible integrations
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Demo
Oracle Confidential – Internal/Restricted/Highly Restricted 18
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• Management and Legal Entity consolidation needs for broad spectrum of customers
• Significant out of the box functionality with limited need for customization (no scripting)
• Out of the box calculations, hierarchies and reports for quick deployments
• Built in task orchestration and detailed data collection for management of overall process
• Flexible, robust user owned reporting
• Fully integrated with the EPM Cloud
• Delivered under Enterprise Hosting Policy
Oracle EPM Cloud Oracle Financial Consolidation and Close Cloud Service
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
FCCS Benefits • Simplified Tablet User Interface
• Native dashboarding and analysis
• Dynamic out-of-box calculations with limited need for customization (no scripting)
• Built-in Balance Sheet Movement Translations with FX / CTA Calculations
• Simplified Consolidation Dimension for easy audit
• Predefined dimensions for detailed analysis
• Automated Cash Flow
• Powerful close orchestration and detail data collection
• Supporting “social interactions” around close and consolidation
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
• Consolidation
– Predefined dimensions with built-in Financial Intelligence
– Flexible application configuration with pre-built forms & reports
– Standard consolidations & eliminations
– Currency translations and FX adjustment calculations
– Built-in KPI ratio analysis
– Custom calculations using member formula
– Automated Cash Flow
– Data source detail tracking with drill through capability
– Multi-GAAP support
– Approvals
– Journal entry with approval workflow
– Intercompany matching
– Data audit
• Close Calendar
– Task Management
– Workflow
• Supplemental Schedules
– Data Collections
• FCCS Dashboard
Oracle Confidential – Internal/Restricted/Highly Restricted 21
FCCS Functionality in first release
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Demo
Oracle Confidential – Internal/Restricted/Highly Restricted 29
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Data Integration
• File based only
• Metadata must be in specific format
• Data load options
– Native format
– Data Management
• Data in delimited , fixed or Excel formats
Oracle Confidential
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |
Automated Patching & Upgrades
• Patch Every Month
• New Features Every Few Months (expected 3-4)
• Patches Automatically Applied During Maintenance Window
• Bug Fixes Patches Applied to Pre-Prod and Prod instance
• Feature updates done with 3 weeks window between Pre-Prod and Prod
• Emergency Fixes Applied As Needed
Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Oracle Confidential – Internal 57
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