Finance Transformation Efforts Accelerating with EPM Cloud
If you are in a Finance Leadership role, you are likely in one of 3 camps with respect to a Finance Transformation Effort –
- Fast along the track
- Attempting to pick up steam
- Wondering where to start
No matter which camp your Finance team fits in, Alithya has seen it, having completed over 400 Cloud projects and having helped over 180 customers navigate the effort.
As a result of the sunsetting of Hyperion Premier Support for the on-prem version of Hyperion 11.1, Oracle customers are thinking hard about whether to –
- Upgrade to the final on-prem version 11.2 and punt the Ground to Cloud project (only kicking the can a few years likely)
- Move to the Cloud now, with a well thought out roadmap addressing your most critical pain points first.
Alithya is working with its customers in assessing these options, with a mindset of transforming business processes and how Finance teams operate, leveraging the most updated Oracle ERP and EPM Cloud features and functionality. For example, you may have considered first getting your ERP upgrade done, then moving your EPM business processes to the cloud. You may get some quick wins by considering –
- Moving your core EPM consolidation and close processes or planning processes first, then just revisiting their integration points later, when the ERP has been upgraded
- You may consider “dipping your” toe into the EPM cloud and getting even quicker wins and reducing manual efforts by moving your Account Reconciliations or creating new reports with dashboards, visualizations, and collaborative reporting in Narrative Reporting; or
- Leveraging new cloud features and functionality in Enterprise Data Management, Profitability, or Tax Reporting to get you started.
Alithya has a unique combination of –
- Oracle Aces / Product Managers that know the Oracle solutions in and out, and partner closely with Oracle Product Management
- An Advisory team with both Finance and industry experience, as well as Change Management, working alongside all of our clients
- Highly experienced Delivery and Support teams, ensuring success in all of our projects, from beginning to end and beyond.
The below table depicts an example of some costs to consider–
- In Blue, the extra costs incurred by upgrading to Hyperion 11.2 now, including the new infrastructure and continued maintenance costs, as well as the upgrade costs and status quo for support
- In Orange, all of the above upgrade costs, and then the Cloud SaaS fee and implementation costs just a few years later
- In Gray, just the Cloud SaaS fees and implementation costs, getting much quicker to the lower ongoing recurring fees
Bottom line, there are a lot of things to consider, both from a business process and solution selection perspective, when considering your Finance Transformation. Alithya works with customers to determine the best approach for their organizations, often times either –
- A Lift & Shift approach, to quickly move to the cloud and get the quick wins of Oracle’s modern cloud architecture,
- A Lift & Shift and Enhance approach, targeting high-value pain points to address, or
- A Transformation approach, taking a new look at end-to-end processes on the modern cloud platform.
Alithya has different offerings to address each of these approaches, including XPRESS Starts to achieve quick wins, or full Change Management to support a Transformation effort.
If you’d like further guidance on how to get started, want to kick the tires on your current thinking, or just looking for confirmation of your current processes, we’d be happy to help. Please reach out to us at firstname.lastname@example.org.
For comments, questions, or suggestions for future topics, please reach out to us at email@example.com. Visit our blog regularly for new posts about Cloud updates and other Oracle Cloud Services such as Planning and Budgeting, Financial Consolidation, Account Reconciliation, and Enterprise Data Management. Follow Alithya on social media for the latest information about EPM, ERP, and Analytics solutions to meet your business needs.