The following SC&H Group blog post reveals how Oracle Planning and Budgeting Cloud Service (PBCS) helps executives to strategically respond to circumstances by improving forecast reliability, scenario analysis, and data access.
Today’s global economy is changing at an ever-growing pace. So, as executives encounter numerous market challenges, including competitive pressures and an evolving supplier landscape, the ability to quickly and strategically respond is no longer an option, it’s essential. Therefore, they are exploring and implementing cloud solutions that help them to rapidly respond, maximize performance, and mitigate present and future unpredictability.
Facing a Volatile, Quickly Changing Global Economy
While the U.S. economic outlook has improved and remains a strong force in the global economy, it still has significant weaknesses. For instance, despite greater financial sector stability, private sector growth, and high demand, the U.S. faces notable volatility in the dollar’s value compared with other currencies, complex tax systems and regulations, and tightening markets.
Meanwhile, executives are increasingly looking offshore to support growth opportunities. However, global supply chains are regularly affected by various damaging events, such as extreme weather, geopolitical realignment, and diverging economic outlooks in the Eurozone and developing countries.
At the same time, companies are scrambling to meet the demands of a transient and diverse workforce, as well as a rising need for technological innovation to maintain a greater competitive advantage.
Embracing Responsive, Cloud-Based Technology Solutions
Consequently, executives are struggling to adapt in today’s fluctuating economic environment. After all, many executives have difficulty planning, budgeting, and forecasting in a stable, more predictable economic condition, much less one that requires multiple views of the future.
So, forward-thinking executives are turning to cloud-based solutions that provide enhanced forecasting and scenario-planning abilities. For example, Oracle PBCS has an enhanced, multi-dimensional view of financial models, allowing executives to better determine future profitability, financial position, and risk.
Furthermore, PBCS supplies executives with unlimited scenario analysis to rapidly create various what-if scenarios that prepare them for any economic situation. In addition to a rolling forecast wizard with real-time data, which allows executives to quickly respond to current trends, it features driver-based planning, enabling them to easily identify what factors are significantly impacting their business.
Ultimately, by working with specialized Oracle-Hyperion EPM consultants to implement and optimize Oracle PBCS, executives are improving accuracy, reliability, and simplicity in their planning and budgeting strategies. Further, they are using enhanced PBCS flexibility and forecasting measures to test different planning and budgeting approaches and advantageously adapt in a dynamic economic landscape—allowing them to sustain a powerful competitive edge.