Oracle EPM System Streamlines Financial Reporting And Compliance

To help customers improve the efficiency and speed of financial reporting, Oracle has announced the availability of Oracle Enterprise Performance Management (EPM) System Release 11.1.2.1. The new release includes updates to Oracle Hyperion Disclosure Management and Oracle Hyperion Financial Close Management, enhanced upgrade tools and expanded platform support, as well as key enhancements across the portfolio of EPM applications.

Part of Oracle Fusion Middleware, Oracle EPM System combines EPM applications and business intelligence (BI) products to support a wide range of business processes that enable organisations to become smarter, more agile, and better aligned.

Oracle Hyperion Financial Close Management is now integrated with Oracle’s PeopleSoft Enterprise Financial Management. This enables organisations to streamline and easily manage their period-end close activities across ERP and EPM applications.

Oracle Hyperion Financial Close Management centralises and helps automate the management of all period-end close activities, replacing manually maintained checklists with dynamic dashboards that give users the ability to immediately view and act on information.

With Oracle Hyperion Financial Close Management, customers can orchestrate all of their end-user activities, schedule or run processes from PeopleSoft Financials as well as other ERP systems, and track manual processes from one easy to use business application.

“As regulatory bodies continue to mandate new global requirements for financial reporting, organisations need ways to simplify execution, while ensuring compliance,” said Hari Sankar, Vice President, product management, Oracle. “Oracle continues to develop and enhance its comprehensive suite of performance management applications to support the changing needs of global businesses.”