Oracle Cloud EPM is a comprehensive tool for financial planning, analysis, and reporting. It comes with powerful features that enable users to create custom reports and dashboards, analyze data, and gain insights into their business. This article will explore how you can maximize the potential of Oracle reporting tools to meet your business needs.
Table of Contents
Understanding the Narrative Reporting Features in Oracle Cloud EPM
Oracle Cloud EPM comes with robust narrative reporting features that allow users to create custom reports, presentations, and documents with ease. With narrative reporting, users can extract data directly from source systems and link it to their reports, ensuring that they are always working with up-to-date information. The tool also allows users to assign reviewers and contributors for successive drafts, making it easy to collaborate on reports.
Leveraging Business Intelligence and Analytics Tools
Oracle Cloud EPM also comes with powerful business intelligence and analytics tools that can help you gain insights into your data. With these tools, you can find relevant signals in your data, provide information to decision-makers, and create value for your organization. By leveraging these tools, you can identify trends and patterns in your data that can help you make informed business decisions.
Measuring Success with the Business Benefit Index (BBI)
To measure the success of your Oracle reporting tools, you can use the Business Benefit Index (BBI). The BBI is a measure of the degree of achievement of your goals, based on responses from “The BI Survey 19.” By tracking your BBI score over time, you can identify areas where your reporting tools are succeeding and areas where they need improvement.
Best Practices for Maximizing the Potential of Oracle Reporting Tools
To maximize the potential of Oracle reporting tools for your business needs, consider the following best practices:
1. Start with a clear understanding of your reporting needs
Before you start using Oracle reporting tools, it’s essential to have a clear understanding of your reporting needs. What type of reports do you need to create? Who are the stakeholders who will be using these reports? What data sources do you need to access? By answering these questions, you can ensure that your reporting tools are designed to meet your specific needs.
2. Leverage narrative reporting features
Narrative reporting features in Oracle Cloud EPM can help you create compelling reports that are easy to read and understand. By leveraging these features, you can tell a story with your data, providing valuable insights into your business.
3. Use business intelligence and analytics tools
Oracle Cloud EPM comes with powerful business intelligence and analytics tools that can help you gain insights into your data. By using these tools, you can identify trends and patterns in your data, providing valuable insights into your business.
4. Collaborate with stakeholders
Collaboration is essential when it comes to maximizing the potential of Oracle reporting tools. By involving stakeholders in the reporting process, you can ensure that your reports are designed to meet their specific needs.
5. Track your progress
To measure the success of your reporting tools, it’s important to track your progress over time. By monitoring your BBI score and other key performance indicators, you can identify areas where your reporting tools are succeeding and areas where they need improvement.
Conclusion
Oracle Reporting Tools offer businesses an array of options for generating reports and visualizing data, making it an essential tool for modern finance teams. To maximize the potential of Oracle Reporting Tools, businesses can leverage cloud-based reports, such as those offered by Oracle, to streamline the report creation process and access reports from multiple devices. Oracle’s cloud-based reports offer a common template for running reports on different slices of data using tables, charts, or commentary, making it easier to report on data from cloud ERP or EPM business processes like planning, consolidation and close, profitability, and tax reporting . In addition, businesses can use the Financial Reporting Center to access every type of report and view report details, add favorites, and define tags. This interface is designed to be the primary user interface for financials end users and is tablet and smartphone friendly. Oracle Enterprise Performance Reporting Cloud provides businesses with a single solution for their management, narrative, and statutory reporting needs. The system can automatically create “doclets” for report packages, which can be assigned to authors for easier report creation and management. By utilizing these Oracle Reporting Tools, businesses can improve their report creation process and more efficiently access and manage their financial data.
