Finding a solution that allows for collaborative financial reporting that retains data integrity is an important goal for many organizations. It’s not a decision to take lightly, and you probably have a lot of questions about each tool you’re looking at.
If you use Oracle EPM, BI, and/or ERP technology, you’re likely considering Oracle Enterprise Performance Reporting Cloud Service — a management and narrative reporting tool designed specifically for your Oracle systems.
To help you decide if EPRCS is a good fit for you, we’ve covered frequently asked questions in this blog post. If you prefer video, skip straight to the EPRCS demo for a visual tour.
What is EPRCS?
EPRCS is part of the Oracle EPM Cloud. The tool was built for comprehensive financial reporting, allowing managers to use data to tell a story and better convey information. EPRCS uses a methodical and collaborative approach to reporting — giving you the ability to define, author, review, and publish reports with relative ease. The owners of the report can easily monitor contributions made by others throughout the reporting lifecycle. You can easily access your reports online or through Microsoft Office.
What features does EPRCS have?
The features in EPRCS can be broken down into six categories:
- Information Access
- Collaboration and Workflow
- Review and Commentary
- Publishing and Delivery
- Regulatory Reporting
EPRCS allows you to easily integrate with Oracle and non-Oracle sources, meaning you can integrate data from any source into your reporting. You can use existing Word, PowerPoint, or Excel reports to create a full reporting package in EPRCS. You can also integrate from on-prem and cloud sources, such as OBIEE or other EPM cloud applications. Create financial and managerial reports by sourcing charts and grids from the EPM Cloud or Essbase sources, allowing you to embed report content into report packages.
EPRCS also ensures your data’s integrity, whether the report owner authored the report or others contributed.
Easily leverage Essbase functionality in the cloud by obtaining hierarchical and dimensional analysis on your financial data.
EPRCS utilizes Microsoft Office and Management Reporting to make creating charts, grids, and reports easy and intuitive. You’re also given more control over your report with the option to use check in/out access permissions and version control.
It’s easy to rollover and reuse content from past periods with centralized maintenance of common dates, text, and data. You can also combine your financial statements and data with a narrative to produce a stylized report package.
Collaboration and Workflow
As mentioned above, multiple users can contribute to reports, allowing the owner to review. You can also include commentary in report sections or the report package in its entirety.
EPRCS also notifies users when tasks are due and important reporting deadlines need to be met.
Review and Commentary
You can perform review cycles and utilize the robust commentary functionality to carry it through the report’s review lifecycle.
Publishing and Delivery
With EPRCS, it’s easy to access your reports on the web or Microsoft Office. You can even access your reports on the go through its mobile compatibility.
You can group your reports to produce executive briefing books as well as other financial books of record.
Ultimately, EPRCS allows you to make collaborative and integrated financial decisions, helping your organization to gain insight into financial impacts.
EPRCS allows you to manage and design base and extension XBRL taxonomies. You can use Microsoft Word and Excel to perform XBRL tagging and easily produce XBRL audit reports. Taxonomy schema rules and calculations validate XBRL tagging by checking data accuracy and compliance. EPRCS also uses regulatory-specific validation for SEC EDGAR Filer Manual rules IFRS Global Filing Manual.
You can publish reports in multiple regulatory formats, including:
- SEC EDGAR HTML
Can I use EPRCS with existing Oracle EPM and Oracle BI on-prem or cloud deployments?
Yes, EPRCS utilizing Smart View for Office to integrate EPM and BI content into EPRCS doclets.
How do I handle upgrades and patches?
Like other Oracle EPM Cloud tools, you have a 1-hour window for daily system maintenance. Upgrades and patches will be automatically made to EPRCS during the time-period. Updates are made every month. To learn about these updates before they occur, follow our blog.
How can I integrate EPRCS with my existing cloud or on-prem ERP systems?
Integrate data and metadata into EPRCS by using flat files for both your data and metadata.
What’s the pricing for EPRCS?
EPRCS is sold on a SaaS model. The price starts at $120 per user per month.