Learn How to Modernize the Financial Close Today

Every month, it’s a rush job.


The financial close often requires hundreds—even thousands—of tasks, executed by scores of people working across the business. Then, there’s the double-checking and rework, with the potential for mistakes growing every time someone touches the data.


Sound familiar?


In my work with companies large and small, I often see fragmented processes with manual interventions and disconnected spreadsheets. There is often a lack of clarity as to which are the latest numbers and little to no governance nor audit trails. And consolidated calculations are complex, making it a challenge to ensure there are no errors.


Financial Close Best Practices


In this age of real-time data and connected enterprises, the situation seems almost absurd.


The good news is, there are tools and best practices available to automate and manage the entire close process, end-to-end—delivering a financial close that:



  • Reduces the cycle times of individual close tasks

  • Adds visibility and predictability to close processes

  • Ensures trust and reliability that the numbers are complete and accurate

  • Increases collaboration

  • Improves the consistency and quality of the financial close


On Friday, March 24, I’ll be hosting a webcast with a leading global hospitality and investment company. They will share why and how they implemented a financial close solution in the cloud. The project took less than 2 months to complete and improved the organization’s overall time to close.


Register for the webinar to learn how you can achieve:



  • Faster reporting and analytics

  • Improved visibility and control

  • Seamless data integrations

  • Finance and accounting teams owning and operating the cloud solutions


Attendance at this webinar will also count as one free CPE credit, so please join us.


Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

New, Global Tax Requirement Pain (BEPS Action13)? We Have the Cure

By Guest Author Marc Seewald, Senior Director, Product Management, Oracle EPM Cloud

Governments globally are looking at increasing tax revenues, especially from multinational companies that earn significant revenues incountry, but pay small amounts of local corporate tax. This is leading to more intrusive reporting requirements like country by country reporting (CbCR); however, this is not the only change that you can expect. Globalization continues to drive more scrutiny of corporate taxation.

A recent survey from Price Waterhouse Cooper (PwC) and MAPI, Utilizing Technology to Expand Tax Capabilities, highlights that a majority of companies felt that better use of technology and data would significantly improve the effectiveness of their tax function. At the same time, 74% do not have a tax technology strategy in place. This is probably due to the fact that most corporate tax practitioners do not have a deep understanding of their own enterprise technology roadmap. Many feel that they cannot enact change within the enterprise and that they will just have to simply “live with the pain.”

Thankfully, help is on the horizon. Technology evolution and adoption is a process that never stops. Many companies are now moving their financial systems to new cloud-based technologies and, more importantly, most enterprises moving finance systems to the cloud are taking the opportunity to undergo finance transformations at the same time. This shift is creating a once-in-a-generation opportunity for the tax function to fundamentally fix the data and process challenges that exist in the tax department.

The tax function stands to reap significant benefits; however, proactive tax teams need to get ahead of this wave. Iftax does not have a seat at the table during finance transformations, it may be a long time before an opportunity of this magnitude comes along again.

The big financial system vendors, like Oracle, are releasing next-generation solutions that wholly integrate tax and financial systems and processes. The corporate tax community needs to understand what is now possible and expect to prepare for changes to the following tax processes:



  • Global accounting for income tax

  • Global compliance

  • Operational transfer pricing (intercompany allocations resulting in true economic profitability by legal entity)

  • Country by country reporting

  • SAF-T (international standard for electronic exchange of reliable accounting data from organizations to a national tax authority or external auditors)

Historically, tax departments have under-invested in software, relying instead on painful spreadsheets and manual processes to do their calculations and build reports. But, as regulations and technology advance, proactive tax functions can finally feel relief.

On March 13, 2017, 2:00 p.m. ET, PwC leaders and Oracle senior product development managers presented a live, interactive and informative hour-long webcast. We explored the latest on leading practices in aligning your financial systems and Oracle Tax Reporting Cloud. Listen to the replay.

Relieve your pain. Listen to the webcast.

Learn more about Oracle Tax Reporting Cloud


Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

7 Things Finance Managers Hate about Spreadsheets


By Jennifer Toomey

We spoke to experienced finance leaders for our latest eBook, “Confessions of a Finance Manager.” They identified 7 reasons why they hate spreadsheets—and one reason why they won’t give them up.

1. Templates Get Ignored
The planning process usually starts out very organized. Finance will create a template for budget owners, and distribute it to everyone who needs to complete it.

But often, that’s where any semblance of control ends. Even when a file is password-protected, people find a way around it. They copy and paste the template into a different spreadsheet, then start adding their own rows and columns and formulas.

It all adds up to a massive headache for finance when it’s time to consolidate the information. What started out as a uniform set of spreadsheets turns into myriad different documents that all need to be reconciled back into one master budget or forecast.

2. Formula Errors Are Rife
Spreadsheets rely on formulas that are easy to break or get wrong. While the figures in a spreadsheet may look reliable, when you dig under the surface you can uncover all kinds of mistakes—incorrectly entered formulas, formulas not copied across the right rows and columns, even formulas that don’t perform the intended calculation. Budget owners will often change formulas, adding their own calculations and fields, but they don’t always get it right. As a result, the data gets corrupted.

The risk of formula errors is a problem for finance managers. It means they can’t take figures on trust, so they often end up combing through every cell to make sure the formulas are correct.

3. Some Spreadsheets Only Make Sense to the Owner
Spreadsheets are very easy to customize. That’s great for the person doing the customizing. It’s not so great for finance teams who need to understand what the customizations mean. Budget owners often base their calculations off their own assumptions, without listing those assumptions in the spreadsheet. This leads to endless back and forth between the budget owners and finance, trying to clarify what the owner is trying to convey.



4. Lack of Version Control
Spreadsheets are easy to edit, rename, save and delete—and those four things add up to a nightmare. When multiple people are saving their own versions of a spreadsheet, it’s frighteningly easy to lose track of which version has the most accurate, up to date information. Vital spreadsheets can be lost forever if they’re accidentally deleted. Plus, there is a high risk of data security breaches if employees are walking around with budget and forecast spreadsheets on their laptops, phones or USB drives.

5. Key Person Dependency
It’s quite common for there to be only one person on the team who really understands how the budget or forecast spreadsheets work. Sometimes, you only discover this when you need to make urgent changes or updates—and the key person is out sick or on vacation. Trying to run scenario analysis when that person is out of the office can be an exercise in futility—and that means the team can’t respond quickly to changing business condition.

6. Budget Holder Resistance
Let’s face it: budget owners don’t like planning and forecasting. They see it as a necessary evil that has to be done at the beginning of the planning period, when they’re busy doing other things like training their sales teams or launching marketing campaigns. Often, they resent having to devote their time to number-crunching. Others don’t like the tools and templates they’re given, or don’t know how to use them properly. And some just don’t understand what they need to do, because it hasn’t been clearly communicated.

All of this means that budget owners are not always motivated to submit timely, high-quality information. And that creates a lot of extra work for finance.

7. Finance Gets the Blame
The biggest headache for finance professionals is that any errors or delays are always blamed on them. Making sure that doesn’t happen creates a huge workload for finance teams. When you have many budget owners, there are often not enough resources in finance to pull the spreadsheets together. It means working long, stressful hours to consolidate the data and check for errors. All of this takes away from more strategic activities, like analyzing financial data and advising the board on how to respond.

Why Are Spreadsheets Still So Popular?

In a word: flexibility. Finance professionals can write and program spreadsheets to do things and perform calculations that other desktop programs just can’t handle.

Luckily for them, there is a way to preserve all the familiarity and flexibility of planning, budgeting and forecasting in spreadsheets—without the enormous headache of gathering, consolidating and checking hundreds of individual spreadsheets. It’s called Oracle Planning and Budgeting Cloud. And it lets you supercharge your spreadsheets.

Oracle Planning and Budgeting Cloud is an integrated planning solution that gathers and delivers numbers from all lines of business. It looks just like a spreadsheet, and does all the things that spreadsheets can do. But it’s a centralized system—so there’s no need to collect and consolidate individual spreadsheets from all across the company. The application automates workflow, with clear task lists that provide control and visibility over the whole process.

Finance teams that use it say they spend 38% less time on the forecasting process, 23% less time gathering data, and 35% more time analyzing data than their peers who rely on disconnected spreadsheets.
That’s a huge win for finance leaders. An IBM study concluded that CFOs who effectively integrate financial and operational data, embed analytics into every process, and use advanced analytical techniques to predict future trends, perform 70 percent better than their peers on profit and revenue.

If you want to learn more about how to supercharge your spreadsheets, without giving up the familiarity and flexibility you love, I invite you to read our new eBook, “Confessions of a Finance Manager.”



Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

3 things to Love About Tax Reporting in the Cloud

Quick question: What do Valentine’s Day and Tax Day have in common

Answer: The launch of Oracle’s latest EPM Cloud service—Oracle Tax Reporting Cloud.

Three years to the day since the launch of our first EPM Cloud service, we are very excited to announce the availability of our seventh EPM module available in the cloud. Based on our highly successful on-premises tax solution, but completely re-engineered for the cloud, this solution delivers best practice global tax reporting out-of-the-box with a framework to enable organizations to improve their tax processes while complying with all the latest global regulations.


Multinational organizations, and especially their tax departments, are firmly in the cross-hairs of the national tax bodies of the countries in which they operate. The financial pressures on governments globally has made them look at increasing tax revenues, especially from multinational companies that earn significant revenues in country but pay small amounts of local corporate tax. This has led to national tax regulation changes in many countries, with many flavors, which means organizations need to plan and manage their tax affairs very differently than they have to-date. Significant are the requirements for how transfer pricing now has to be reported based on a "master file" and "local files" under country-by-country reporting (CbCR) regulations.

Tax departments have traditionally under-invested in IT systems, in comparison with their FP&A and accounting colleagues, relying on spreadsheets and manual processes to get the job done. There is now significant urgency for them to find the right software solution to help deliver on regulatory requirements accurately and transparently while also increasing governance and reducing risk.


Oracle Tax Reporting Cloud Takes a New Approach

Oracle Tax Reporting Cloud connects the processes, data and metadata that tax and finance share like financial planning, the financial close, and regulatory reporting. The solution delivers:

1. Best Practice Tax Reporting Out-of-the-Box
Best practices are embedded in the solution with simple configuration selection and no complex scripting. It includes ready-built processes like calculating permanent/temporary differences from book data. Pre-built dashboards and reports like CbCR templates are also included.
This ensures more accurate and efficient tax reporting and makes it easy for tax departments to meet global financial regulation requirements. It significantly reduces timescale, cost and risk in these tax processes, while also supporting continuous improvement.

2. Tax Process Improvement Framework
A configurable framework of essentials is included, with task management and calendaring. Importantly, they are integrated with finance systems to ensure alignment between tax and finance. They also deal with what are often complex manual processes like the input of supplemental data by providing a secure, centralized repository.
Good reporting is the final piece in any improvement framework to ensure participants correctly report the numbers, and can analyze those numbers and process statistics to understand where and how improvements can be made. To achieve this, pre-built but user configurable dashboards and reports are essential.

3. Seamless Transparency Between Tax and Finance
Direct data integration between a modern tax system and source finance systems (both cloud and on-premises) enables the tax solution to leverage the same metadata, data, processes and foreign currency engine used by the finance system. This level of transparency means reports can be easily generated from data across tax, consolidation, planning and ERP, and there can be an enterprise-wide compliance framework that includes auditing, segregation of duties, and transparent calculations. This seamless transparency helps to bring tax and finance together.

Enabling the Tax Function of the Future
Oracle EPM Cloud provides an integrated solution for the tax function. It enables organizations to calculate and report tax in a timely and accurate manner and provides a level of governance, visibility, and transparency that enables management to be confident in the numbers they report to regulators and stakeholders.

Celebrate Valentine’s Day by checking out Oracle Tax Reporting Cloud. Your tax team and your executives will love you for it.


Watch More Videos of Oracle Tax Reporting Cloud

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

6 Important Things Healthcare Payor and Provider Finance Teams Should Do

Healthcare is a complex business. Whether you are a healthcare payor or a provider, you have cost and revenue/funding complexities that are difficult to track—and therefore, difficult to change. So how can you simplify those complexities to ensure you are getting the biggest bang for your healthcare buck?

Put the power in the hands of the business users—not IT. Enable them to analyze data and test scenarios to determine the best ways forward without having to depend on IT (they have enough to do!).


Healthcare Payors

Does this sound like you?

You need to gain visibility and understand the cost to serve different healthcare plans, groups, and members. Getting an accurate understanding of profitability by member segment, healthcare plan, and distribution channel is where you can start. But based on this new insight, you need to improve your marketing programs through better member segmentation, and make confident operational decisions about plan design and services.

What if you could also provide finance and operating staff with more complete documentation and audit trails for regulatory reporting, and visually justify medical loss ratio results?

Healthcare Providers

Is this what you’re experiencing?

Everything is constantly changing, but yet you need to continue to provide superior healthcare to your patients.

Overhead costs are increasing. Administrative costs, IT, malpractice insurance, equipment, and staff are all overheads that continue to rise. If you could test different ways of lowering the cost of overheads, this could lead to a change in practice and an actual reduction in overhead costs.

You must compete on service, portfolio, and brand. Individual procedures alone don’t make a competitive difference anymore. The service and prestige that come with the procedure make the difference. You need a solution to help sort out the relationship between resources, activities, and revenues that are not always easy to figure out.

You need horizontal alignment. Reporting structures tend to be hierarchical in nature. New plans and strategies are cascaded top-down into your healthcare organization’s hierarchy. However, cost drivers tend to impact the organization sideways, through the value chain.

You need transparency. Patients, suppliers, shareholders, and regulators all demand more transparency. Executives cannot allow surprises regarding their profitability—it could cost them dearly. They need to ensure that both cost and revenue are managed, and in alignment throughout the healthcare organization. Price transparency is a big issue as well. Charge information often bears little relationship to the price that most patients are actually asked to pay.

6 Things Finance Teams in Healthcare Should Do

Although payors and providers are different parts of the healthcare system, it is easy to see they have many common needs. Both have scarce resources and need to allocate them where they will have the biggest impact. Both must understand their sources of cost and minimize them while maintaining efficiency and effectiveness. This must be done on a fairly frequent basis as procedures and health needs change. Both must promote a culture of accountability for everyone to ensure favorable outcomes while keeping costs in line. Both must have adequate tools for analysis and scenario testing, but they also need to keep the total cost of ownership (TCO) low—spending less time on data sourcing, spreadsheet wizardry, and coding changes.

Although healthcare payors and providers have different purposes, they have similar needs. So, what are the 6 important things healthcare payors and providers must do well in order to succeed?



  • Identify sources and attributes of cost and profitability with multidimensional analysis

  • Accurately allocate costs with a flexible allocation engine that supports their method of allocation; this includes overhead costs as well as direct costs

  • Gain confidence and transparency in cost allocations (and revenue flows) with traceability reports (no black box allocations)

  • Strategically allocate resources with accurate profitability and cost information

  • Improve marketing programs through customer/patient segmentation

  • Enable management best practices by leveraging profitability and cost as a performance metrics


Oracle has worked with healthcare payors and providers for many years and understands these important needs. Oracle Profitability and Cost Management Cloud can address all of these needs and more, and provide more complete documentation and audit trails for regulatory reporting at the same time.

To learn more, I invite you to read the following papers:

Improving Cost Management and Profitability in the Healthcare Provider Industry
 Improving Profitability and Cost Management in the Healthcare Insurance Industry

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

6 Important Things Healthcare Payor and Provider Finance Teams Should Do

Healthcare is a complex business. Whether you are a healthcare payor or a provider, you have cost and revenue/funding complexities that are difficult to track—and therefore, difficult to change. So how can you simplify those complexities to ensure you are getting the biggest bang for your healthcare buck?

Put the power in the hands of the business users—not IT. Enable them to analyze data and test scenarios to determine the best ways forward without having to depend on IT (they have enough to do!).


Healthcare Payors

Does this sound like you?

You need to gain visibility and understand the cost to serve different healthcare plans, groups, and members. Getting an accurate understanding of profitability by member segment, healthcare plan, and distribution channel is where you can start. But based on this new insight, you need to improve your marketing programs through better member segmentation, and make confident operational decisions about plan design and services.

What if you could also provide finance and operating staff with more complete documentation and audit trails for regulatory reporting, and visually justify medical loss ratio results?

Healthcare Providers

Is this what you’re experiencing?

Everything is constantly changing, but yet you need to continue to provide superior healthcare to your patients.

Overhead costs are increasing. Administrative costs, IT, malpractice insurance, equipment, and staff are all overheads that continue to rise. If you could test different ways of lowering the cost of overheads, this could lead to a change in practice and an actual reduction in overhead costs.

You must compete on service, portfolio, and brand. Individual procedures alone don’t make a competitive difference anymore. The service and prestige that come with the procedure make the difference. You need a solution to help sort out the relationship between resources, activities, and revenues that are not always easy to figure out.

You need horizontal alignment. Reporting structures tend to be hierarchical in nature. New plans and strategies are cascaded top-down into your healthcare organization’s hierarchy. However, cost drivers tend to impact the organization sideways, through the value chain.

You need transparency. Patients, suppliers, shareholders, and regulators all demand more transparency. Executives cannot allow surprises regarding their profitability—it could cost them dearly. They need to ensure that both cost and revenue are managed, and in alignment throughout the healthcare organization. Price transparency is a big issue as well. Charge information often bears little relationship to the price that most patients are actually asked to pay.

6 Things Finance Teams in Healthcare Should Do

Although payors and providers are different parts of the healthcare system, it is easy to see they have many common needs. Both have scarce resources and need to allocate them where they will have the biggest impact. Both must understand their sources of cost and minimize them while maintaining efficiency and effectiveness. This must be done on a fairly frequent basis as procedures and health needs change. Both must promote a culture of accountability for everyone to ensure favorable outcomes while keeping costs in line. Both must have adequate tools for analysis and scenario testing, but they also need to keep the total cost of ownership (TCO) low—spending less time on data sourcing, spreadsheet wizardry, and coding changes.

Although healthcare payors and providers have different purposes, they have similar needs. So, what are the 6 important things healthcare payors and providers must do well in order to succeed?



  • Identify sources and attributes of cost and profitability with multidimensional analysis

  • Accurately allocate costs with a flexible allocation engine that supports their method of allocation; this includes overhead costs as well as direct costs

  • Gain confidence and transparency in cost allocations (and revenue flows) with traceability reports (no black box allocations)

  • Strategically allocate resources with accurate profitability and cost information

  • Improve marketing programs through customer/patient segmentation

  • Enable management best practices by leveraging profitability and cost as a performance metrics


Oracle has worked with healthcare payors and providers for many years and understands these important needs. Oracle Profitability and Cost Management Cloud can address all of these needs and more, and provide more complete documentation and audit trails for regulatory reporting at the same time.

To learn more, I invite you to read the following papers:

Improving Cost Management and Profitability in the Healthcare Provider Industry
 Improving Profitability and Cost Management in the Healthcare Insurance Industry

Disclaimer:
1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
2)Microsoft is a registered trademark of Microsoft and / or its affiliates
3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

4 Reasons to Refresh Your Narrative Reporting Practices

BY JENNIFER TOOMEY

Every organization has a lot more data than it used to. With all this information, you would think preparing reports on operations and performance would be easier. Think again.

Reporting has actually become more challenging, for 4 main reasons:


  • Regulations are on the rise across the globe. In the U.S., for instance, bank regulators are currently proposing stricter regulations on large financial institutions to mitigate the risk of cyber-attacks or high-tech system failures. At the same time, China is imposing new regulations on its growing online finance sector to root out fraud. In addition, tax regulation and reporting is growing worldwide.

  • As a result of increased regulation, businesses everywhere must manage more complexity in reporting—which puts a strain on existing systems and resources.Increased collaboration on dispersed devices and networks has heightened the risk of financial data exposure during report authoring, contributing and reviewing processes. Yet narrative reporting remains largely manual and time consuming, lacking process rigor and collaboration. Compiling proprietary data from disconnected spreadsheets and documents introduces auditability concerns and weak security.

  • The flip from capital-based value creation to digital value creation has necessitated more narrative reporting to explain how the business is creating intangible value.In 1975, tangible assets such as plants, property and equipment made up 80% of total corporate value on the S&P 500. In 2015, those tangible assets constituted just 13% of corporate value, compared with 87% of the value created by intangible assets such as customers, talent and intellectual property. These intangible assets need new key performance indicators and better explanation, because their value is not as easily understood as tangible assets.

  • We are using more data to inform, but data alone can’t tell a story. It needs context and elaboration that is targeted for specific stakeholder groups. The “narrative” part of narrative reporting is critically important.
  • What’s Wrong With How We’re Doing Narrative Reporting?

    While there is a clear need for increased commentary in reporting, most narrative reporting processes remain manual and ad-hoc. It is a monthly or quarterly fire-drill to get report packages completed and delivered. The disconnected nature of the process means it is difficult to bring in subject matter experts for centralized commentary on content, and it is hard to track progress and who is currently responsible for individual areas of content. Finally, there are auditability concerns and weak security around supporting “need to know” access to content.

    The effort is manual and time-consuming, lacking process rigor and security. These shortcomings can be costly—literally. The constant back-and-forth of multiple documents among multiple users allows mistakes to creep into the data, leading to error-prone reporting.

    "Reinvent Narrative Reporting": Download the White Paper

    Getting narrative reporting right is important because the quality of reporting can impact the perception of a company. Consider, for example, the scrutiny that EHS (environmental, health and safety) reporting receives, and how quickly a misunderstood report can cause brand damage as it’s shared socially.

    On the flip side, if employees, investors, board members, donors or any other supporters don’t fully understand how an organization is achieving its mission, they’ll become less supportive. In a PwC survey of 85 investment professionals from around the world, respondents agreed that management teams should clearly show how the financial results relate to the business model, identifying risks and company strategy.

    How the Cloud Has Changed Narrative Reports

    The cloud has made it possible to improve how narrative reporting is accomplished because the data is centralized, secure, always up-to-date and accessible. In a complete, connected cloud environment, multiple applications draw from the same standardized set of data—so at any given time, report collaborators are working with the same version of the truth.

    This is huge improvement over existing practices, where report collaborators are copying and pasting data from spreadsheets, Word documents, or whatever other sources are readily available.

    The cloud also streamlines and accelerates narrative reporting processes, because it allows for simultaneous reviews and on-demand access, so that the workflow is no longer a thread of stops and starts.

    Oracle Enterprise Performance Reporting Cloud, for example, helps finance teams combine data plus narrative in a single, secure, collaborative cloud environment. The application pulls financial data directly from the system of record in Oracle Financials Cloud—or other on-premises or third-party system—so you can be certain the data is always accurate.

    Authorized users can access the system through any device, and start social conversations within the application to collaborate with colleagues. These conversations are more secure than e-mail, plus they provide a record of steps and commentary in the process, so users can always go back and see what changes were made, when, and why.

    Because it’s cloud-based, users can access the system from any device. When the system notifies them of a reporting-related task, they can quickly connect, complete the next step, and move on.

    Better Confidence in Your Reporting and Your Business

    Narrative reporting is a necessity, but it doesn’t have to be a headache. It’s also more important than ever to assess your narrative reporting processes for their efficiency, scalability, security and effectiveness.

    Modernizing how narrative reporting is done can not only save resources, it also can make your company’s story shine—no matter who your audience is. To learn how to reinvent narrative reporting, I invite you to download our white paper.


    Disclaimer:
    1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
    2)Microsoft is a registered trademark of Microsoft and / or its affiliates
    3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

    Collaborate 2016 in Review – Moving Companies to the Cloud

    Submitted by guest blogger McKenzie Clune.
    Oracle Planning and Budgeting Cloud Service (PBCS) was launched at OOW two years ago, and since then, customers and partners have been raving about the solution and its capabilities.  At Collaborate 2016 we had the opportunity to sit down with Oracle partners to discuss their recent successes with Oracle PBCS. Most notably, we spoke with Scott Costello from Key Performance Ideas, Alex Ladd from Mindstream Analytics, and Nihar Parikh from EPMI.  


    Oracle Planning and Budgeting Cloud Service is a fully-customizable, market-leading cloud solution that enables companies to align planning across the enterprise so that they can develop agile forecasts for all lines of business and respond faster and more effectively to change.  Oracle Partner, Key Performance Ideas (KPI), has first-hand experience with the flexibility, ease of use and scalability of PBCS, and has sold many of their customers on moving from on-premises Oracle Hyperion Planning to Oracle PBCS. This video, featuring KPI, highlights the very prominent issue of moving to the cloud from on-premises, and how KPI helps their customers make the move: Here


    Many on-premises customers experience upgrade fatigue and, as a result, will put off and avoid upgrading their solution because of potential setbacks. As a cloud solution, PBCS fights this major problem with automated, incremental upgrades.  This feature provides our customers with the most up-to-date version of our software, which makes the move to the cloud a much more attractive option. Alex Ladd, from MindStream Analytics, noted that this is a key selling point of PBCS to their customers.  Watch this video for more information on upgrade fatigue and the PBCS “cloud cure”: Here


    Organizations are constantly searching for ways to operate more efficiently and reduce costs.  On-premises solutions, excel spreadsheets, and disconnected planning tools often increase operational costs due to the lack of automated integration and software updates. Additionally, the built in financial intelligence tool of PBCS decreases time spent on the organization of information and allows for a greater level of analysis.  Oracle Partner, EPMI, has found success with PBCS in the oil and gas industry, which comes as no surprise, as cost cutting has historically been a top priority for this sector.  For more information on their success, watch this video: Here


    Collaborate is a great opportunity to meet peers and discuss Oracle EPM cloud strategy and implementation.  In addition, Oracle OpenWorld 2016 (OOW16) is another event where we can come together with our peers to learn, network, and celebrate EPM Cloud successes. OOW16 takes place on September 18th – 22nd in San Francisco! Click here to register today: Here


    Disclaimer:
    1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
    2)Microsoft is a registered trademark of Microsoft and / or its affiliates
    3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

    What is the Missing Ingredient for the Successful EPM Recipe?

    Disclaimer:
    1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
    2)Microsoft is a registered trademark of Microsoft and / or its affiliates
    3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.

    Part C. New Revenue Recognition – Disclosure, the Forgotten Implication

    Disclaimer:
    1)Oracle, Oracle Hyperion, Hyperion and Java are registered trademarks of Oracle and / or its Affiliates
    2)Microsoft is a registered trademark of Microsoft and / or its affiliates
    3)Any other trademark, name, logo, images, etc. are copyright and trademark of its respective owner which also includes Innov8 Infinite Technology Pvt.Ltd.