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With the Oracle EPM Cloud, you can look forward to new updates every month — from fixed defects to significant new features. It’s great to know your tool is constantly being improved, but it still leaves you wondering, “what will it be like in a few years?”

Fortunately, Oracle has given us an update of what’s to come. This is great news for current EPM cloud users planning for the future, and those considering a move to the cloud.

In this blog post, we’ll look at…

  • What makes up the Oracle EPM Cloud
  • The Enterprise Performance Reporting Cloud
  • Intelligent Process Automation
  • The Current, Next & Future roadmap of the Oracle EPM Cloud

Should you stay on-prem or move to the cloud?

What’s Included in the Oracle EPM Cloud?

First, let’s clarify. Each application in the Oracle EPM Cloud has a separate per user per month subscription fee. It’s set up on a SaaS model, which you can read more about here.

Currently, the Oracle EPM Cloud encompasses five main topics:

  • Planning
    • Financials
    • Strategic Modeling
    • Workforce
    • Capital
    • Projects
  • Financial Consolidation and Close
  • Account Reconciliations
  • Tax Provision and Reporting
  • Profitability and Cost Management

The Oracle EPM Cloud addresses these topics in eight applications…

You also get an EPM Cloud Foundation Layer that includes...

  • Common Modern UI
  • Common Foundation
  • Data Quality/Integration
  • Security and Scalability
  • Standardized APIs

Without getting into the capabilities and features, that’s the current Oracle EPM Cloud in a nutshell. In the next sections, we’ll go into more details about what features are coming to these applications.

What’s the Enterprise Performance Reporting Cloud (EPRCS)?

EPRCS is an integrated reporting platform for the Oracle EPM Cloud. This solution allows you to build a narrative with your data and utilize external reporting.

You should think of it like a unified EPM Cloud reporting hub. It supports the full reporting lifecycle…

  • Reporting
  • Analysis
  • Authoring
  • Collaboration
  • Commentary
  • Delivery

EPRCS allows you to leverage existing documents and reporting sources. These sources can be on-prem or in the cloud; Oracle or non-Oracle. With EPRCS, you can leverage values, tables, graphs, charts, images, and more.

EPRCS can deploy five dimensional models. You can also access EPRCS via Management Reporting and/or Smart View.

Management Reporting is included in EPRCS. It’s management reporting hub for Oracle EPM and Oracle Analytics Cloud (OAC). Management Reporting supports grids and charts, multiple sources, and is completely integrated with the narrative reporting process.

Intelligent Process Automation

This feature will automate manual and menial tasks that are integral to finance and tax across cloud and on-premises applications to reduce risk and increase efficiency.

Intelligent Process Automation will include these types of Intelligent Tasks…

  • Automated tasks: A task that runs in the background without any user interaction needed.
  • System monitoring: A task that a user can use to monitor an event that happened on an external system.
  • End users: A task that requires the user to interact with a user interface to complete the task.

Intelligent Process Automation Flow

intelligent process automation.png

The Current, Next & Future Roadmap

Oracle has given us a general roadmap to look at what we have currently, what’s coming next, and see the future of the EPM Cloud applications. There aren’t dates attached to what’s next and in the future, but this is functionality you should know is coming (eventually).

What’s Current in the Oracle EPM Cloud?

Enterprise Planning & Budgeting (EPBCS)

  • Planning modules based on best practices
  • Integrated strategic modeling, sandboxing, predictive
  • New frameworks: ITFM, Utilization (Projects, WFP)

Enterprise Performance Reporting (EPRCS)

  • Unified and integrated EPM Cloud Reporting
  • Disclosure Management and Tax Compliance Reporting

Financial Consolidation & Close (FCCS)

  • Alternate hierarchy support (full accounting treatment)
  • Standalone Close Manager & Supplemental Data Manager
  • Tight integration with Financials Cloud, including drill back
  • Configuration translations

Profitability & Cost Management (PCMCS)

  • Purpose-built allocation engine with models owned by business users; transparency of allocation calculations
  • Dimension Editor, analysis view sorting, multiple aliases

Tax Reporting (TRCS)

  • Tax Provision (IFRS & US-GAAP), country-by-country (CbCR, XML), uncertain tax positions, data management, workflow and task management

EPM Cloud Infrastructure

  • Integrated EPM Business Processes
  • Oracle IDCS Integration

What’s Next in the Oracle EPM Cloud?

Enterprise Planning & Budgeting (EPBCS)

  • Ad-hoc model on web, chart-based predictions, infolets
  • Frameworks: Sales & Marketing, configurable targets

Enterprise Performance Reporting (EPRCS)

  • Configurable calculations and consolidation
  • Extensible custom dimensions
  • Advanced consolidation:
    • Ownership
    • Proportional
    • Org by Period
  • Close Manager cloud integrations, SDM to on-prem

Profitability & Cost Management (PCMCS)

  • Same as source — difference dimension allocation rules
  • Express rule edit features

Account Reconciliation (ARCS)

  • Archiving
  • Transaction Matching:
    • Saved adjustments
    • Journals
    • Multi-source match

Tax Reporting (TRCS)

  • Tax automation and trace capability
  • Foreign Exchange override by entity and account
  • Enhance admin wizards

Enterprise Data Management

  • CoA mastering across ERP and EPM Cloud
  • Hybrid deployments
  • Dimension editing
  • Sharing and governance

EPM Cloud Infrastructure

  • Essbase encryption at rest
  • Self-serve ID domain relocation

What’s the Future Hold for Oracle EPM Cloud?

Enterprise Planning & Budgeting (EPBCS)

  • Search-driven planning, simulation, and machine learning
  • Frameworks: IBP, Predictive WFP, real-time collaboration

Enterprise Performance Reporting (EPRCS)

  • Collaboration: web-based capture, tasks notes, social

Financial Consolidation & Close (FCCS)

  • New Journal Entry Module
  • Automatic consolidation and journals, data lineage
  • HFM migration toolkit

Account Reconciliation (ARCS)

  • Alerting and case management
  • Dynamic workflows and auto reconciliations
  • Transaction matching
    • Enhanced views
    • Dashboards
    • Data management

Profitability & Cost Management (PCMCS)

  • Data entry forms
  • Sync reporting DB
  • Workflow via CM

Tax Reporting (TRCS)

  • Long range tax planning and simulation
  • Predictive tax analytics
  • Configurable tax reconciliation

Enterprise Data Management

  • Custom form-based governance
  • Multi-request visualization and approval
  • Mass updates
  • Subscription rules
  • Support for large 100M+ member dimensions
  • Rule-based matching and rationalization

EPM Cloud Infrastructure

  • Customer-managed encryption keys and break glass

As we learn more from Oracle, we’ll post updates on key dates for what’s next and the future functionality of Oracle’s EPM Cloud tools. To learn about frequent updates in the Oracle EPM Cloud, subscribe to our blog, where we post the updates monthly.

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