What Does Constellation of Oracle EPM Mean?
The Constellation of Oracle EPM refers to the suite of applications that work together to provide a comprehensive solution for performance management. This suite is designed to help organizations manage their financial and operational performance and includes several different applications, each addressing specific aspects of performance management.
The Essential Features of The Constellation of Oracle EPM
The key features of the Constellation of Oracle EPM are designed to help organizations streamline their performance management processes, gain greater visibility into their financial and operational performance, and make better-informed decisions. Some of the essential features of the Constellation of Oracle EPM include:
1. Automation of Financial Processes
The Automation of Financial Processes is one of the key features of the Constellation of Oracle EPM. This feature includes several applications such as Financial Consolidation and Close, Account Reconciliation, and Narrative Reporting. These applications automate financial processes and help organizations reduce the time and effort required for these processes, improve accuracy, and increase consistency.
The Financial Consolidation and Close application automate and streamlines the financial close process, enabling organizations to close their books faster and with greater accuracy. The application provides a centralized platform for managing the close process and ensures that all financial data is accurate and consistent. It also enables organizations to streamline the intercompany reconciliation process and reduce errors and inconsistencies.
2. Real-Time Analytics
The applications in Oracle EPM’s Constellation provide real-time analytics and reporting, enabling organizations to gain insights into their performance and identify areas for improvement quickly. This feature enables organizations to gain insights into their performance quickly and make better-informed decisions based on accurate data. The suite includes several applications, such as Financial Planning and Budgeting, Profitability, and Cost Management, and Enterprise Data Management, that provide real-time analytics and reporting capabilities.
3. Centralized Data Management
The Enterprise Data Management application in the Constellation of Oracle EPM provides a centralized platform for managing data across the organization. This helps ensure data quality and consistency, reduces the risk of errors and inconsistencies, and enables organizations to make better-informed decisions based on accurate data. Centralized Data Management also enables organizations to manage their data security and access control centrally, ensuring that only authorized users have access to sensitive data. The suite includes applications such as Financial Close and Consolidation, which enable organizations to manage their financial close process centrally, ensuring that all financial data is accurate and consistent.
4. Scenario Modeling
The Planning and Budgeting application in the Constellation of Oracle EPM includes advanced scenario modeling capabilities that enable organizations to model different scenarios and evaluate the impact of different assumptions on their financial and operational performance. Strategic Modeling provides a platform for building and testing different business models, and Scenario Planning, enables organizations to create and evaluate different scenarios based on various assumptions. These applications allow organizations to create and compare multiple scenarios and evaluate their impact on different areas of the business, such as revenue, expenses, and cash flow.
5. Collaboration and Workflow
The applications in the Constellation of Oracle EPM provide collaboration and workflow capabilities, enabling different teams and stakeholders to work together seamlessly and ensuring that everyone has access to the information they need to make informed decisions. Collaboration and Workflow also enable organizations to track the progress of different tasks and processes, ensuring that everyone is working together efficiently and effectively.
Conclusion
Overall, the Constellation of Oracle EPM’s key features is designed to help organizations optimize their performance management processes, gain real-time insights into their financial and operational performance, and make better-informed decisions based on accurate data. By leveraging these features, organizations can streamline their processes, reduce costs, and drive business success. For more information about The Constellation of Oracle EPM, contact us today.
