What’s New and What’s Coming: Financial Close in the Cloud

OpenWorld 2015 CON7031 – What’s New What’s Coming Financial Close in the Cloud

Richard Wilkie Sr Director EPM October 28, 2015

Oracle Confidential – Internal/Restricted/Highly Restricted Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |

Copyright © 2015, Oracle and/or its affiliates. All rights reserved. |

Safe Harbor Statement

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.

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of surveyed companies currently use or will consider deploying EPM in the cloud over the next year

Finance Sees the Benefits of Cloud

> 75%

Source: Oracle 2014 Top Trends Research


Finance Sees the Benefits of Cloud

Source: Oracle 2014 Top Trends Research


Deployment

• No IT involvement

• Can be departmental solutions rather than Enterprise

• Easier to deploy globally since operators have Global data centers


Oracle Cloud: Global Data Centers

• Unsurpassed Global & Regional Coverage • State of the Art Facilities – Tier IV Class • Baseline 99.999% Availability of Power/Cooling • 24X7 Active Monitoring and Support

Chicago

Ashburn

Austin

Japan

Singapore

Sydney CY15

Linlithgow

Amsterdam London

Brazil CY15

Germany Canada

Melbourne CY15

PBCS


Cost

• Less upfront cost

• CAPEx v/s Opex

• Cheaper consulting wise since many Cloud applications have configurations built in


Speed

• Quick to get started since the system can be up in hours v/s months

• Always available since operator is doing all the backups/uptime etc.

• New features/functions quickly available in frequent service updates


Installation

Patching

Upgrade

On Cloud

• No Hardware

Reduced Implementation Time No Set-up & Maintenance

Requirements

Design

Build

Learn

Roll Out

Retain Configurations &

Customizations


Simplicity

• Cloud apps are modern – Social, Mobile, Analytics built in

• User interface is simpler so easier to adopt


Oracle EPM Cloud -

• Oracle EPM Cloud is Comprehensive

1. Planning and Budgeting Cloud Service: General Availability

2. Enterprise Performance Reporting Cloud Service: General Availability

3. Planning and Budgeting Enterprise Cloud Service: Active Development

4. Financial Consolidation and Close Cloud Service: Active Development

5. Account Reconciliation Cloud Service: Active Development

6. Profitability & Cost Management Cloud Service : Active Development

7. Essbase Cloud Service : Active Development

8. Tax Provision and Reporting Cloud Service: Active Development


Oracle EPM Cloud Service

14

Planning (PBCS, EPBCS, PSPBCS, HEPBCS)

Corporate Finance & Tax

Operational Users

Executive Information Technology

Financial Close (FCCS, TPRCS, ARCS)

EPM Cloud Platform

Configurable Platform

Automated Oracle Updates

Secure & Scalable

ESSBASE


• Comprehensive stand-alone Tax Provision & Reporting solution

• Data Collection

• Calculation

• Reporting

• Integration with Financial Consolidation and Close Cloud Service (FCCS)

• Simplified Tablet Interface

• Data & metadata integration with On-premise finance systems

• Secure: Role-based, auditable access

• Governance-Like capability included in cloud service

• Expected migration from HTP

• Enterprise Grade: Security, High Availability, Scalability

• Fully Managed: Patched, Backed Up, Upgraded by Oracle

Oracle EPM Cloud Oracle Tax Provision and Reporting Cloud Service


• Address the global reconciliation process

• For each process provide complete lifecycle including – verifications, tracking of assignments, managing preparation and review, minimizing risk and optimizing the process.

• Integrated with transaction systems

• Flexible and robust user owned reporting

• Fully integrated with the EPM Cloud

Oracle EPM Cloud Oracle Account Reconciliation Cloud Service


ARCS Benefits

• All the great functionality in On Premise ARM plus:

• Simplified Tablet User Interface

• New analytics covering operational performance and compliance

• Supporting “social interactions” around reconciliations

• Quick deployments

– Pre-Defined content

– Flexible integrations


Demo



• Management and Legal Entity consolidation needs for broad spectrum of customers

• Significant out of the box functionality with limited need for customization (no scripting)

• Out of the box calculations, hierarchies and reports for quick deployments

• Built in task orchestration and detailed data collection for management of overall process

• Flexible, robust user owned reporting

• Fully integrated with the EPM Cloud

• Delivered under Enterprise Hosting Policy

Oracle EPM Cloud Oracle Financial Consolidation and Close Cloud Service


FCCS Benefits • Simplified Tablet User Interface

• Native dashboarding and analysis

• Dynamic out-of-box calculations with limited need for customization (no scripting)

• Built-in Balance Sheet Movement Translations with FX / CTA Calculations

• Simplified Consolidation Dimension for easy audit

• Predefined dimensions for detailed analysis

• Automated Cash Flow

• Powerful close orchestration and detail data collection

• Supporting “social interactions” around close and consolidation


• Consolidation

– Predefined dimensions with built-in Financial Intelligence

– Flexible application configuration with pre-built forms & reports

– Standard consolidations & eliminations

– Currency translations and FX adjustment calculations

– Built-in KPI ratio analysis

– Custom calculations using member formula

– Automated Cash Flow

– Data source detail tracking with drill through capability

– Multi-GAAP support

– Approvals

– Journal entry with approval workflow

– Intercompany matching

– Data audit

• Close Calendar

– Task Management

– Workflow

• Supplemental Schedules

– Data Collections

• FCCS Dashboard


FCCS Functionality in first release


Demo



Data Integration

• File based only

• Metadata must be in specific format

• Data load options

– Native format

– Data Management

• Data in delimited , fixed or Excel formats

Oracle Confidential


Automated Patching & Upgrades

• Patch Every Month

• New Features Every Few Months (expected 3-4)

• Patches Automatically Applied During Maintenance Window

• Bug Fixes Patches Applied to Pre-Prod and Prod instance

• Feature updates done with 3 weeks window between Pre-Prod and Prod

• Emergency Fixes Applied As Needed

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What’s New and What’s Coming: Financial Close in the Cloud

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Transcript of What’s New and What’s Coming: Financial Close in the Cloud