Expertise Beyond the Numbers

Oracle to Offer Financial Statement Planning and Strategic Modeling Free to Existing PBCS Customers

In the wake of the COVID-19 pandemic, Oracle is looking to help its existing customers with the opportunity for free access to the following Cloud EPM components for existing Planning Cloud Customers:

  • Financial Statement Planning
  • Strategic Modeling

For the next 12 months, these organizations may now benefit from the following functionality:

Accurate and Enhanced Models

Oracle Financial Statement Planning (and Strategic Modeling) provides users the ability to combine extensive financial forecasting and modeling features with on-the-fly scenario/what-if analysis. With the help of Strategic Modeling, an application user can forecast based on several different variables/outcomes. For example, a user may want to create what-if models for various regions with quick, moderate, and slow reopening’s from COVID-19 induced lockdowns.

Simulations

In addition to best, base and worst-case models, Strategic Modeling allows users the ability to leverage two powerful simulation models:

  • Monte Carlo – generates natural, “what-if” type scenarios where each assumption is sampled randomly.
  • Latin Hypercube – sampling generates more accurate statistics and percentiles by sampling each assumption more evenly across its range.

The simulations within Strategic Modeling allow the user to identify uncertain inputs (or “assumptions”) and determine an uncertainty or probability distribution for each assumption. Based on these user-driven factors, the simulation runs several trials and provides a forecast for the desired financial criteria. In a world full of unknowns, the ability to update assumptions and other inputs based on new knowledge can be crucial in developing an accurate forecast and plan forward.

Integrated Reporting and Analysis

With Strategic Modeling comes the ability to utilize a comprehensive set of pre-built financial statements and dashboards. Additionally, advanced reporting and interactive dashboards can be built by users to seamlessly leverage scenario modeling and simulation results via Oracle EPM Cloud’s web interface or Smart View.

As businesses small and large, “essential” and “non-essential” face unprecedented challenges—and throw out the proverbial playbook on planning and forecasting—Oracle and SC&H are here to help. With our experience and expertise implementing these out-of-the-box modules, SC&H provides a unique ability to assist our clients rapidly configure Oracle’s Financial Statement Planning module, and leverage the solution to help navigate through the current business climate.

If you’re interested in taking advantage of this opportunity and would like to lean on SC&H for assistance, please reach out to us today.