Oracle Cloud EPM help business leaders efficiently plan, track, and report on initiatives and comply with new reporting standards
Oracle has recently unveiled, Oracle Cloud EPM for Sustainability, as part of its Oracle Fusion Cloud Enterprise Performance Management (EPM) suite.
This innovative offering aims to assist organizations in efficiently measuring and effectively managing their sustainability initiatives. By seamlessly connecting data, plans, and targets across the organization, and utilizing scenario modeling, the solution empowers business leaders to gain valuable insights necessary for making progress on sustainability goals.
One of the significant challenges faced by organizations in managing sustainability initiatives is the consolidation of environmental data from various sources such as business units, systems within the organization, suppliers, and business partners.
Often, this data is manually compiled in spreadsheets, leading to a slow, inefficient, and error-prone reporting process. To address these challenges and streamline reporting, organizations require purpose-built solutions with embedded automation, AI, and machine learning capabilities.
Hari Sankar, the Group Vice President of Product Management at Oracle, highlighted how Oracle Cloud EPM for Sustainability provides organizations with a trusted solution that leverages advanced technologies to improve efficiency, deliver insights, ensure compliance, and effectively manage progress on sustainability initiatives.
The new solution offers several key features to help organizations accelerate their sustainability efforts:
- It enables organizations to consolidate disparate data sources, aligning them with international financial reporting and global reporting standards. Built-in process management tools ensure data clarity, accuracy, and error identification.
- Allow organizations to run multiple scenarios simultaneously, enabling smarter decision-making about sustainability initiatives by understanding associated risks and opportunities.
- It offers pattern recognition capabilities for automated anomaly detection, along with self-service features for data exploration. Purpose-built dashboards and automated analysis facilitate progress monitoring and timely corrective actions.
- It empowers organizations to create and validate forecasts and continuously improve plans using embedded AI and machine learning.
- It helps align data with relevant reporting standards and produce insightful reports for key stakeholders. This enables organizations to identify areas for improvement and take prompt action to reduce environmental impact.
By providing organizations with the tools to efficiently measure, manage, and report on sustainability initiatives, Oracle aims to drive greater impact and help businesses navigate the evolving landscape of environmental responsibility.
