Best Practices for a Healthier Month-End Close: Modern Tips for Finance Teams Using Oracle EPM

Month-end close shouldn’t feel like a marathon with no finish line.

For many finance teams, the close process is a stressful, time-consuming ritual filled with late nights, manual reconciliations, and fire drills. But with the right processes, tools, and mindset—especially within Oracle EPM—you can turn your month-end from chaos to control.

Here are the best practices to achieve a healthier, faster, and more accurate month-end close:

🧩 1. Standardize and Document Your Close Process

Consistency is key. Create a documented close checklist in Oracle EPM Task Manager or a similar tool. Break it down by:

• Tasks by day
• Owner assignments
• Dependencies
• Expected durations

Why it matters: It reduces confusion, identifies bottlenecks, and ensures everyone is on the same page—especially in hybrid or remote environments.

⚙️ 2. Automate Where Possible

Manual work is your biggest slowdown. Leverage Oracle EPM automation features like:

• Data Integration and Data Management: Automate data loads from your GL/ERP.
• Smart View: Streamline reporting, analysis, and commentary collection.
• Business Rules and Calculation Scripts: Automate allocations, currency conversions, and intercompany eliminations.

Bonus tip: Set up nightly jobs to load and validate data so your team hits the ground running each morning.

📊 3. Use Real-Time Dashboards and KPIs

No more chasing down status updates. With dashboards in Oracle Cloud EPM, you can visualize:

• Close progress by entity or region
• Late or overdue tasks
• Variances or material changes in account balances

This gives leadership real-time visibility without disrupting your team’s workflow.

🧠 4. Close Early and Often

Don't wait until Day 5 to realize you have a reporting issue. Use soft closes or weekly trial closes in Oracle EPM to spot errors early.

• Run pre-close validations
• Reconcile key accounts regularly
• Test reports before finalizing

Pro move: Practice your full close cycle during slower months to identify areas for optimization.

🔁 5. Revisit and Refine

After each close, hold a short retrospective. Ask:

• What went well?
• What caused delays?
• What should we automate next?

Track cycle times month over month to measure improvement. Small changes add up to big efficiency gains.

💡 Final Thoughts

The month-end close doesn’t have to drain your team or delay strategic insights. By using Oracle EPM’s built-in tools, standardizing your process, and embracing automation, you can shift from reactive scrambling to confident, timely reporting.

Need help optimizing your close?
US-Analytics offers:
🛠️ Close Health Checks
⚙️ Automation Accelerators
📊 Real-time KPI dashboards
👥 Ongoing managed services

📣 Let’s turn your month-end chaos into calm. Reach out today!

Healthier close. Healthier team. Healthier business.

Need help optimizing your Oracle EPM month-end process? Our experts can guide your team through automation, task setup, and smart reporting strategies.

Let’s talk.