5 Reasons Why Gartner picked Oracle as a Clear Leader for Cloud Financial Planning & Analysis Solutions
1. Customer feedback rates Oracle as upper or top quartiles for overall product capabilities, application governance and AI capabilities
In our opinion Oracle EPM Cloud has the highest capability of all the Cloud EPM solutions in the market, it is the reason our strategy at GK is to focus only on Oracle solutions and it is nice to see this validated by Gartner.
Taking a slightly different approach than some of its competitors Oracle offers an integrated suite of applications to fulfil all the EPM requirements. The advantage of a suite is that each application can and is developed and deployed separately dramatically lowering the implementation risk of deploying the suite in your organisation as well as the deployment risk of future feature updates which are delivered monthly to all applications.
2. Significantly improved customer feedback in nearly all categories measured
Over the last year we have witnessed amazing improvements in the capability of the solution as well as the user experience. Along with the new integration abilities detailed above we have also seen the introduction of new user interface, new dashboarding functionality, a hybrid database (fast calculation and reporting), and an additional extension language (Groovy).
Reassuringly to new customers is a noteworthy improvement in the overall sales experience for the reference customers.
3. Rapid growth by attracting new customers and by migrating customers from on-premises Hyperion solutions
Already a leader in Gartner’s Magic Quadrant last year due to large and active customer base Oracle has built on this foundation with rapid growth in Oracle EPM Cloud this year. Growth in customer numbers illustrates the value of the solution to a greater number of use cases as well as validating Oracle’s leadership position in an increasing number of industries.
4. Native integration with Oracle Fusion Cloud ERP and NetSuite ERP and now integration with any data source using the new EPM agent
Oracle EPM Cloud now integrates tightly with Oracle Cloud ERP products, meaning we have been able to set up the integration to transfer GL balances in under an hour for some clients. In addition the new EPM agent promises templated integration with both Oracle and non-Oracle data sources. The EPM agent can be programmatically extended using the new Groovy language.
5. ‘Highly valuable’ Enterprise licencing for a single named user to all Oracle EPM components and the availability of a lower price Standard licencing for a single named user to specific Oracle EPM components
Oracle EPM Cloud suite provides excellent value and we would like to facilitate our clients to iteratively deploy as many of the applications as possible to obtain the most value from their licencing.
A typical client may start within FP&A deploying a Planning application (Budgeting, Forecasting, Modelling), followed by a Narrative reporting (report packs, XBRL disclosure management) application. From there applications are available for the Chief Accountant as solutions for Account Reconciliation, Financial Consolidation & Close and Tax. Other applications are available for Profitability and Cost Management (allocation engine) and for Enterprise Data Management (metadata management).