Oracle@Oracle: How we transformed global business finance

[Music] hi i'm matt stirrup senior vice president in the global business finance team here at oracle today i'm going to be sharing with you how we have used the oracle epm cloud as part of our finance transformation our finance team has been on a transformation journey over the past few years to redefine its role within the company from score keepers to true business partners to achieve this we set ourselves a number of objectives firstly to spend much more time with our business leaders helping them to make better decisions based on data insight and creating clear action plans second with increasing business uncertainty the need to focus much more on predictive scenario modeling within our planning activities and really help the business to see round the corner at the range of possible futures and third to become real strategic thought partners using our analytics and planning capabilities to create stronger outcomes in order to achieve these three objectives we recognize the need to become more agile as a function to do this we needed to free up time by automating existing activities whilst becoming faster more flexible and more accurate with our planning the adoption of the oracle epm cloud has been the foundation to our success there were a few key components to our approach in implementing epm cloud first was reimagining our process creating a standard approach simplifying and building an operationally connected process then came the technology using it to automate existing manual and time-consuming activities and then leveraging it to enhance our capabilities we implemented taking a risk-based approach ensuring quick early wins to drive momentum and then developing a continual change process to take advantage of the regular release of enhancements within the cloud model our journey with the epm cloud so far has allowed us to gain significant efficiency by automating and standardizing existing activities we have revolutionized the speed and way we create reporting and analytics for the business it has allowed us to become more operationally connected and accurate in our planning activities in fact it has allowed us to redeploy a significant percentage of our employees to a more strategic analysis and working with the business to drive growth action plans but we remain focused on even further progress with the adoption of new machine learning and data science we look to leverage predictive forecasting to predict detect and act on new situations faster and ipm insights which will enable us to identify anomalies trends and biases in financial and operational data this will really help us to remove forecasting bias and create complex scenarios and simulations that we have not been able to do before it's all possible on the cloud with ongoing quarterly updates rich in new features and functionalities it's a dynamic foundation that keeps us moving ever forward in our transformation journey enhancing our forecast approach and with it extending new value to the business thank you

Channel: Oracle

Views: 44

Keywords: 41656904, 6286842807001, analytics cloud, cloud, epm, epm cloud, finance, forecast, fp&a, gbf, global business finance, migration, o@o, oracle, oracle@oracle, planning, reporting, risk, stirrup, transformation

Id: rYf-QCKOyQc

Length: 4min 13sec (253 seconds)

Published: Tue Dec 14 2021