Oracle has introduced Enterprise Performance Management (EPM) System Release 11.1.1.3, which it says combines performance management and business intelligence (BI).
The announcement was made at Oracle OpenWorld, in San Francisco, this week.
Oracle says the product aims to support a wide spectrum of strategic, financial and operational management processes, to help companies become smart, agile and aligned. The solution is localised and available globally.
This latest release introduces the Enterprise Resource Planning (ERP) Integrator module that supports the bi-directional integration of financial data into the company's performance management applications from various ERP systems.
According to Oracle, the product delivers enhancements and integrations spanning simulations, data visualisation and enhanced calculation management capabilities, to enable businesses to optimise performance more efficiently, through improved business insights and decision-making.
Bill Guilmart, VP of EPM product management at Oracle, says the introduction of the ERP Integrator module significantly strengthens the integration between the Oracle E-Business Suite and PeopleSoft Enterprise with Hyperion applications.
“With the module making metadata and data integration simpler, customers can extend their ERP investments, while improving their reporting, analysis and planning cycles. We're committed to delivering new capabilities and integrations to our leading performance management applications that will further help our customers manage, interact with, and utilise their financial and operational information to drive better business performance and results,” he adds.
“Dealing with questions about information in financial reports can be a major overhead burden for finance departments,” notes Scott Peters, director of Finit Solutions. He says the ERP Integrator gives finance staff a simple, direct and efficient tool for finding the answers to those questions.
“End-users will be able to drill from aggregated numbers in their planning or financial reporting system directly to the transaction detail in their general ledger for faster analysis and decision-making.”
Robin Ranzal, president of Ranzal & Associates, agrees. He says the present business and financial climate has driven the need for financial data quality and has received increasing focus as reporting requirements continue to grow.
“One of the key challenges that companies that have deployed EPM solutions face, is ensuring data and metadata remained synchronised, often in real-time.”
Ranzal believes the ERP Integrator addresses this critical dependency by letting businesses source metadata and data directly from their ERP systems.
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