Insights and Tips from the Experts



Modernization, Cloud Enablement, Managed Services

Quick Tip: Putting Financial Reporting in the Hands of the Users.

[fa icon="calendar"] February 4, 2019 / by Beth Mayhew, Highstreet

Are you drowning in spreadsheets? Do you wait weeks for your IT department to create financial reports for you?

To meet today’s business requirements, organizations need fast, accurate, and easy access to financial reporting. But when your organization is overly reliant on spreadsheets, you face challenges around time, quality, flexibility, and cost.

  • Long planning cycles result in missed opportunities and obsolete plans.
  • Data integrity and quality issues show up in the form of errors in Excel spreadsheets, version control problems, and lack of audit trails.
  • Disconnected processes create a lack of flexibility and responsiveness to changes.
  • And finally, too much time spent gathering information and not enough time to analyze it results in costly waste of resources with questionable benefits.

New technologies like cloud make it easier to get off of spreadsheets and adopt best practices, such as rolling forecasts and driving the planning process beyond finance to line of business managers.

Gaining input and intelligence from the business side of the organization becomes much more feasible with a cloud-based model that can be easily and flexibly rolled out across the organization.

Many companies are assessing cloud options along side traditional upgrades of on-premises solutions. But they are wary of the integration issues between cloud and on-premises solutions and do not want to be locked into a particular approach.

For many, the flexibility of deployment holds the key to the way forward; that is, the ability to adopt public, private, and hybrid clouds as desired and to alter the mix when business circumstances dictate.

Consider the following benefits of Oracle Planning and Budgeting Cloud Service:

Fast Adoption - Built-in cloud-specific features make it easy to get users up and running quickly—virtually no training required.

  • Intuitive, role-based interface
  • Built-in starter kits, online help, and tutorials
  • Simplify administration with application diagnostics

First-in-Class Functionality - Improve forecast accuracy and connect operational assumptions to financial outcomes.

  • Streamline processes with flexible workflow and plan management capabilities
  • Quickly create reports with an intuitive user interface and full Excel integration
  • Simplify reporting with built-in management reporting capabilities
  • Forecast performance accurately with rolling forecasts and best practices

Flexible Deployment - Meet today’s business requirements and be ready for the future.

  • Reduce implementation costs with a packaged solution
  • Combine and securely move data across on-premises and cloud systems
  • Integrate data from Oracle and other ERP systems
  • Leverage existing IT investments

Contact us today to learn more.

 

Topics: Higher Education | Public Sector, PeopleSoft Upgrades & Implementations, Quick Tip, Oracle Planning & Budgeting, Oracle Cloud

Beth Mayhew, Highstreet

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Highstreet provides modernization, cloud enablement, and management services for your applications and IT infrastructure. Learn more.

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