How Oracle EPM Can Help Businesses Achieve Financial Goals and Drive Growth in 2023

Some areas where companies with continuous performance management outperform traditional ones are, increased productivity (66%), motivating the entire workforce (65%), and achieving the top goals of the organization (64%). (Betterworks, 2020)

Introduction

As we approach 2023, many businesses seek ways to achieve their financial goals for the upcoming year. One way to achieve those goals is by streamlining financial planning and analysis processes and gaining greater visibility into financial performance. Oracle Enterprise Performance Management (EPM) offers a suite of integrated applications designed to help businesses manage their financial performance, automate financial processes, and make more informed decisions. In this blog, we'll explore how Oracle EPM can help businesses achieve their financial goals for 2023 and position themselves for long-term growth.

What is Oracle EPM?

Oracle EPM is a suite of integrated applications that help businesses manage their financial performance. The suite includes applications for financial planning and budgeting, financial consolidation and close, profitability and cost management, and enterprise data management. With Oracle EPM, businesses can automate their financial processes, gain greater visibility into their financial performance, and make more informed decisions.

How Oracle EPM Can Help Achieve Financial Goals

Now that we have looked at some common financial goals let's explore how Oracle EPM can help businesses achieve these goals:

Increase Revenue

Harnessing the power of Oracle EPM, businesses can unlock unparalleled potential to skyrocket their revenue streams. This cutting-edge Oracle EPM solution empowers organizations by delving deep into customer behavior, scrutinizing market trends, and analyzing product performance. Armed with these invaluable insights, businesses gain a competitive edge, unearthing untapped growth opportunities and devising strategic initiatives to seize them with unwavering precision. Oracle EPM becomes the catalyst for unprecedented revenue generation, revolutionizing the way businesses thrive and prosper in an ever-evolving marketplace.

Reduce Costs

Oracle EPM can help businesses reduce costs by providing insights into operational inefficiencies, supplier performance, and inventory management. With this information, businesses can identify areas where costs can be reduced and develop strategies to optimize operations.

Improve Profit Margins

Oracle EPM can help businesses improve profit margins by providing insights into product profitability, pricing strategies, and cost structures. With this information, businesses can identify ways to increase profitability and develop strategies to optimize pricing and cost structures.

Enhance Cash Flow

Oracle EPM can help businesses enhance cash flow by providing insights into cash balances, forecasts, and working capital management. With this information, businesses can identify ways to optimize cash flow and develop strategies to improve working capital management.

How Oracle EPM can help achieve Business Growth

In addition to achieving financial goals, businesses also aim to achieve growth. Oracle EPM can help businesses achieve growth by providing the necessary tools to make well informed decisions and take calculated risks. Here are some ways Oracle EPM can support business growth.

Reduce Operational Cost

Businesses can look at their operational costs to save money and determine which areas can be improved. Sometimes, knowing what's going on in every part of the business can be hard. With Oracle EPM Cloud, users can easily see how different parts of the business are doing and find ways to save money. They can combine data from different systems to get a full business picture. By using EPM, businesses can automate tasks and save time. This can help leaders decide where to focus their resources for the most value.

Strategic Planning

Oracle EPM provides businesses with insights into trends and customer behavior which can help identify opportunities and develop strategies to capitalize on them. For instance, by analyzing sales data and identifying which products are performing well, businesses can expand their product lines or focus on marketing efforts to increase sales of high-performing products. Additionally, by understanding market trends and changes in consumer preferences, businesses can pivot their strategies and identify new growth opportunities. With Oracle EPM, businesses can make more informed strategic decisions that support long-term growth.

Investment Decisions

Oracle EPM provides insights into financial performance and risk management, which can support growth investment decisions. For example, businesses can use financial modeling capabilities within Oracle EPM to evaluate the potential return on investment for various initiatives. By analyzing data related to revenue, expenses, and other key financial metrics, businesses can make informed decisions. Additionally, Oracle EPM can help businesses manage risk by providing visibility into potential risks associated with different investments, such as market volatility or regulatory changes.

Performance Management

Oracle EPM provides insights into key performance indicators (KPIs) and performance trends, which can support performance management and monitor progress toward growth goals. For instance, by tracking metrics such as customer acquisition, retention, and satisfaction, businesses can evaluate the effectiveness of marketing and sales efforts and make adjustments as needed. By monitoring KPIs, businesses can identify areas for improvement and take action to optimize performance. Additionally, Oracle EPM can help businesses evaluate the performance of different business units and identify which areas are driving growth.

Data Analysis

Oracle EPM provides advanced analytics and reporting capabilities that support data analysis and can help identify patterns and trends that support growth. For example, businesses can analyze customer data to understand preferences and behaviors, which can inform product development or marketing strategies. Additionally, businesses can identify opportunities to gain market share and drive growth by analyzing market trends and competitor performance. Oracle EPM can help businesses manage large volumes of data and transform it into actionable insights that support growth.

Futureproof Operations

EPM is a tool that helps businesses manage their finances better. It can analyze costs and predict future needs to keep a company running smoothly. With EPM, companies can automate more processes and work together in real-time to respond quickly to unexpected challenges. This tool can also help businesses prepare for different scenarios in the future. While EPM can't completely protect a company from economic downturns, it can make them more financially stable, adaptable, and prepared for their challenges.

Actionable Insights & Visibility

With Oracle EPM, businesses can gain greater visibility into their operations by integrating all their systems. EPM comes with modules that connect all business applications, automating data entry and validation and improving data quality. Users can access all enterprise functions through one interface, collaborate in real time, and make informed decisions. Businesses can avoid potential challenges by connecting all business applications with EPM and aligning changes. This visibility enables faster decisions, transformations, cloud migrations, and system redesign. EPM provides businesses with a comprehensive look at their operations, allowing them to conclude how to improve operations and productivity.

Conclusion

In summary, Jade Global’s EPM services and capabilities offer a compelling solution with Oracle EPM at its core. By harnessing the power of this tool, businesses can unlock valuable insights into customer behavior, market trends, and product performance, paving the way for growth. The strategic planning, investment decision support, performance management, and robust data analysis capabilities of the Jade’s EPM suite empower businesses to make informed decisions and embrace calculated risks in pursuit of growth. Furthermore, Jade’s EPM enables businesses to streamline their financial planning and analysis processes, providing deeper visibility into financial performance. With Jade Global’s Oracle EPM Cloud Consulting Services, businesses are poised for success not only in 2023 but also well into the future.