Why Choose Enterprise Performance Management (EPM)?
Enterprise Performance Management (EPM) is essential for organisations aiming to streamline complex financial processes and enhance decision-making. EPM addresses common issues such as inconsistent data, manual errors, and disconnected planning by integrating all financial planning, budgeting, forecasting, and reporting into a single, unified system. By investing in EPM, your company benefits from:
- Increased Accuracy: Automate financial processes to minimise errors and ensure data consistency.
- Better Decision-Making: Access real-time insights that support strategic decisions and enable quick responses to market changes.
- Operational Efficiency: Save time and resources by eliminating manual tasks and consolidating data from multiple sources.
- Alignment with Business Goals: Ensure financial strategies are aligned with overall business objectives, improving performance and driving growth.
- Scalability: As your organisation grows, EPM scales with you, accommodating more complex reporting and analysis needs.
Investing in EPM isn’t just about improving financial operations; it’s about empowering your business to operate more intelligently, efficiently, and strategically.
EPM in Action: Real-World Success Story
Before implementing Oracle EPM, NEO Energy struggled with fragmented financial data and relied heavily on spreadsheets for their reporting and forecasting processes. This method was time-consuming and prone to errors. They needed a more streamlined, integrated solution that could handle complex financial and operational data across their various assets and joint ventures.
How did GK tailor the Oracle EPM solution to meet NEO Energy’s specific needs?
We conducted detailed design workshops and collaborated closely with NEO Energy to understand their existing processes and specific requirements. They built a financial reporting, planning, and analysis solution using Oracle’s best practice template, incorporating custom dimensions to account for NEO Energy’s unique asset hierarchies and JV Opex/Capex structures. This tailored approach ensured the solution was perfectly aligned with NEO’s business needs.
How did GK manage the implementation and integration of Oracle EPM with NEO Energy’s existing systems?
We have successfully integrated Oracle EPM with NEO Energy’s SAP S/4HANA Public Cloud system, automating the flow of actual financial data into the new EPM platform. They also developed solutions using Oracle Smart View for flexible report writing and data analysis, and automated cashflow reporting within the application. This seamless integration ensured that NEO’s financial data was accurate, up-to-date, and easily accessible.
