The following SC&H Group blog post discusses how executives are maximizing their Oracle EPM Cloud investments by working with a consultant that has a dedicated Oracle partnership and record of successful implementations, as well as practical insight, a thorough approach, and the ability to provide value-added services.
In today’s competitive marketplace, many executives are realizing the transformative power of Oracle EPM Cloud solutions, such Oracle Planning and Budgeting Cloud Service (PBCS) and Financial Consolidation and Close Cloud Service (FCCS). With accessibility, scalability, time and cost savings, and streamlined processes, these solutions can impact organizations on nearly every level.
So, as executives consider implementing new Oracle solutions or optimizing existing deployments, many are looking to partner with an Oracle-Hyperion EPM consultant that can maximize their investment and operational value.
However, not all Oracle-Hyperion EPM consultants are alike. Therefore, forward-thinking executives are evaluating prospective consultants for qualifications that demonstrate vital knowledge, experience, and business aptitude. Specifically, they are seeking consultants with five key qualities, each essential to realizing a thoroughly optimized Oracle EPM Cloud solution.
- Has a track record of successful Oracle EPM implementations. Consultants with a record of implementing Oracle EPM Cloud solutions for similar organizations have a better understanding of the associated time, costs, and functions required, as well as common implementation issues and challenges. As a result, they typically provide more efficient service and regular communication of solution best practices.
To confirm this record, executives should ask the consultant to provide references and case studies for a wide array of comparable implementations completed by the proposed team members.
- Is part of the Oracle Partnership Network. A consultant that achieves formal Oracle recognition possesses deep implementation knowledge and has met Oracle’s stringent requirements for client relationships, skills, and expertise.
Therefore, executives should ensure that their chosen consultant has attained an Oracle Partnership level, preferably Platinum or Diamond. These Oracle Partners have ongoing access to the highest level of Oracle support and the latest technology, training, and product initiatives.
- Maintains a dedicated Oracle team with practical business insight. A successful Oracle EPM Cloud solution implementation requires both Oracle-specific technical expertise and an understanding of fundamental business and process best practices. With this combined insight, a consultant can help executives to drive substantial improvements in planning, reporting, and financial close processes.
So, executives should ensure that their chosen consultant team members are dedicated Oracle-Hyperion EPM solution and Oracle BI specialists, not general IT consultants. Further, team members should have MBA or CPA backgrounds, giving them the knowledge to align company processes and strategy with application features and functionality.
- Employs a comprehensive project approach. Every organization has unique needs, structures, and goals. Consequently, the most effective Oracle EPM Cloud solution implementations take all organizational factors into account, from company capacity and applications to short- and long-term business objectives.
Therefore, executives should inquire as to the thoroughness of the consultant’s project approach in regards to initial and ongoing communication, security risk mitigation, and efficiency. For instance, an approach should include a detailed requirements analysis and solutions discovery, as well as an emphasis on advanced functionality to core business processes.
- Can fulfill related financial and consulting needs. Efficiency and far-reaching insight are key to making data, processes, and systems work for you. Similarly, these qualities also make for an effective consultant relationship, as consultants with further financial and consulting service specialties can satisfy organizational needs in a more cohesive and streamlined manner.
So, executives should ask their chosen consultant if their firm offers additional, related services, allowing them to understand the impact of and improve various, diverse business processes.
Ultimately, forward-thinking executives are partnering with Oracle-Hyperion EPM consultants to optimize their Oracle EPM Cloud investments and gain an effective, dynamic solution. By identifying consultants with five essential qualities, they are improving their bottom lines, enhancing their overall business model, and gaining greater insight, efficiency, and effectiveness.
Want to learn more about how your company can maximize its Oracle Cloud investments? Contact SC&H Group’s Oracle-Hyperion EPM and BI Consulting team today to discuss how to more effectively and accurately manage your financial, operational, and strategic information.
