Are You Sitting on a Software Goldmine? Unlock Your Existing Tech Before You Buy New
Nadia Lodroman • 28 May 2025
Listen to Tresora and Ledgeron's chatting about this blog post:
From MVP to Maximum Value Platform
It's a familiar story in the business world. A company identifies a pressing need – a more streamlined financial system, a dynamic collaboration platform, you name it. The call goes out, a tender process is launched, and months are spent meticulously evaluating options. Countless hours are invested, numerous teams are consulted, and a seemingly perfect software solution is chosen, promising a new era of efficiency and a host of cutting-edge features.
Then reality hits.
The "by-the-book" implementation, with all its bells and whistles, collides with the urgent need to get something operational. Maybe the current system is on its last legs – a true "burning platform." Perhaps a crucial investment round or an IPO looms, demanding immediate functionality. Whatever the reason, the grand vision shrinks. The focus narrows to a Minimum Viable Product (MVP). Those "nice-to-have" features and modern best practices, so lauded during selection, are quietly pushed to the back burner. The primary goal becomes getting the basic system live, fast.
And it works, for a while. The immediate crisis is averted.
But then, inevitably, a few months down the line, new needs emerge. Processes crave improvement, automation opportunities are identified, and workflows beg for optimization. What happens next? Often, the instinct is to look outwards again. A new tender process, a fresh search for yet another third-party solution to plug the newly identified gaps.
Stop. Before you embark on another costly and time-consuming software hunt, have you truly explored the potential lurking within the tools you already own?
That powerful platform you implemented? The one where you only scratched the surface of its capabilities to meet that initial MVP deadline? It might just hold the key to your current challenges.
The Untapped Potential Within
Think about it:
- Familiarity: Your teams are already acquainted with the existing software. The learning curve for new modules or features within a known system is significantly less steep than onboarding a completely new product.
- Reduced Integration Hassles: Leveraging more of your current platform often means less complexity in terms of integrating disparate systems. Data can flow more seamlessly, and you avoid the headaches of building and maintaining new connections.
- Cost Savings: This is a big one. You've already invested in the software. Unlocking its existing, unused functionalities is almost always more cost-effective than purchasing, implementing, and integrating a brand-new solution.
- Revisiting Original Intentions: Remember those initial "good intentions"? The desire to truly transform the way you work? Those goals were valid. While priorities might have shifted to get the MVP live, the underlying needs often remain. Your existing software was likely chosen because it could meet those broader ambitions.
The Path Forward: Don't Reinvent the Wheel, Just Keep it Turning
So, what's the solution when new needs arise post-MVP?
- Don't Burn Bridges with Your Implementation Partner: Your implementation partner guided you through the initial setup. They understand the platform's capabilities far beyond the MVP scope. Once the dust has settled on the initial launch, reconnect with them. They were there when you outlined your grand vision. Ask them: "Given our current system and our emerging needs, what do you suggest as our next step? How can we leverage more of what we already have?" They can be invaluable in roadmap planning and unlocking hidden value.
- Revisit Your "Good Intentions": Dust off those initial requirements and strategic goals from the original tender process. While some priorities may have evolved, the core desires for improvement are likely still relevant. Map these against the full feature set of your current software. You might be surprised at what's already at your fingertips.
- Internal Exploration and Training: Invest a little time in exploring the untapped modules and features of your existing software. Perhaps a short internal training session or a workshop could unlock significant improvements with minimal external investment.
- Phased Enhancement, Not Another Big Bang: Instead of seeking another massive overhaul, consider a phased approach to enabling new functionalities within your current system. This is less disruptive and allows for continuous improvement.
From MVP to Maximum Value Platform
The pressure to deliver an MVP is understandable, especially when facing critical business drivers. But an MVP should be a starting point, not the final destination. The software you painstakingly selected likely has a wealth of untapped potential waiting to be unleashed.
Before you jump into the next software selection cycle, take a deep breath and a thorough look inwards. The solution to your latest process improvement puzzle might already be licensed, partially implemented, and familiar to your team. It's time to turn your Minimum Viable Product into a Maximum Value Platform.
Dedicated ETR form within comprehensive tax reporting software, such as Oracle's EPM Cloud, can greatly simplify this process. Utilising an ETR form enhances transparency, auditability, and allows for scenario analysis, making tax calculations more accurate and efficient compared to manual methods.
As Oracle EPM administrators and users, we're constantly navigating the evolution of the EPM Cloud platform. Oracle continues to innovate, delivering more powerful, integrated, and user-friendly solutions. One key area undergoing significant enhancement is reporting. If your organization still relies heavily on traditional "Financial Reports" (often built with Financial Reporting Studio or its web counterpart), it's time to strategically consider migrating to the modern "Reports" infrastructure within Oracle EPM Cloud. This isn't just about adopting new technology; it's about future-proofing your financial and management reporting capabilities. The Writing on the Wall: Oracle's Strategic Direction Oracle's focus is firmly on its cloud-native solutions, and this is evident in the continuous development and enhancement of the "Reports" framework across the EPM Cloud suite. While traditional Financial Reporting has served us well, the newer "Reports" (sometimes referred to as Management Reporting or found under the "Reports" card in your EPM Cloud environment) is Oracle's strategic, next-generation solution. We've seen a similar pattern with other EPM Cloud components. For instance, Oracle announced the de-support of Cloud EPM Forms 1.0 and Dashboards 1.0 effective June 2025 (25.06 release), encouraging users to transition to Forms 2.0 and Dashboards 2.0. This move underscores Oracle's commitment to advancing its platform with more robust and feature-rich tools. While a similar de-support announcement for all traditional Financial Reporting capabilities across all EPM modules might not be immediate, the direction is clear: "Reports" is the future. It's important to note a recent update from Oracle: Financial Reporting (FR), along with its related user interfaces and features, will NOT be removed in June 2025. FR will remain a part of the Cloud EPM Platform business processes for the time being. However, as of June 2025, Oracle will discontinue bug fixes and enhancements in FR for all Cloud EPM Platform business processes, except for Tax Reporting and NetSuite Planning and Budgeting, which have a current dependency on seeded FR reports. So, Why Make the Strategic Switch from Financial Reporting to Reports? Even without an imminent cut-off date, migrating to "Reports" within your Oracle EPM Cloud environment offers significant advantages: Modernised User Experience & Enhanced Design: "Reports" offers a significantly more intuitive and contemporary interface for report development. This translates to an easier learning curve and faster report creation. The platform provides an ad-hoc-like build ability, often consolidating tasks onto a single screen for a more streamlined and efficient workflow. You'll also benefit from improved design features like grid titles and row banding for creating more polished and professional-looking outputs. Superior Charting and Visualisation: In an era where data visualisation is key to understanding complex information, "Reports" significantly outshines FR. Users can leverage a much wider array of chart types, including stacked charts, combination charts, polar, radar, and scatter charts. This allows for more dynamic, insightful, and impactful data representation. Improved Point of View (POV) Control and Functionality: "Reports" provides enhanced control and grouping capabilities for POVs, simplifying how users interact with and analyze specific data slices. Features such as ad-hoc zooming into parent members directly when previewing reports offer greater flexibility and quicker insights. Users also benefit from selectable alias tables and smoother HTML report scrolling, leading to a more fluid user experience. Streamlined Books and Bursting: The process for creating and distributing report books and utilising bursting capabilities has been refined and improved in "Reports." Expect enhancements such as the ability to burst multiple output files (e.g., PDFs) into a single email for a recipient, potentially even as a consolidated ZIP file. This improves the experience for end-users by reducing clutter and simplifying access to information. Aligning with Oracle's Strategic Direction & Future-Proofing: "Reports" is the focal point of Oracle's development efforts for embedded EPM reporting. By migrating, you align your organization with Oracle's strategic roadmap. This ensures you will benefit from ongoing enhancements, innovative new features, and continued robust support. While FR will remain for now, future innovations will be centered on "Reports." Simplified Migration Path: Oracle provides tools to facilitate the transition from FR to "Reports." These utilities allow for the migration of existing FR reports, either individually or through a "Migrate All" feature. While some manual adjustments and validation will likely be necessary due to the inherent differences and advancements in "Reports," the process is designed to minimise disruption. What About Your Existing Financial Reports? The good news is that Oracle provides pathways for migration. For example, the Oracle EPRCS Admin Guide 2025 details migrating Financial Reporting documents from on-premise Oracle Hyperion Financial Reporting to "Reports" in Narrative Reporting. Similar migration utilities and best practices are often available for moving FRS reports within other EPM Cloud business processes to their respective "Reports" frameworks. This migration also presents an excellent opportunity to: Rationalise your reports: Review and retire outdated or redundant reports. Optimise report designs: Leverage the new features in "Reports" to improve the layout, performance, and analytical capabilities of your existing reports. Standardise reporting practices: Ensure consistency across your newly migrated reports. Getting Started with Migration Embarking on a migration project requires planning. Here are a few initial steps to consider: Assess Your Current State: Inventory your existing Financial Reports. Identify their complexity, data sources, usage frequency, and business criticality. Develop a Migration Plan: Prioritise reports for migration. Consider a phased approach, starting with less complex or high-impact reports. Familiarise Yourself with "Reports": Train your team on the new "Reports" designer and its capabilities. Leverage Oracle Resources: Consult Oracle documentation, support, and potentially Oracle Consulting Services or a trusted partner for guidance and best practices. Test Thoroughly: Ensure that migrated reports are accurate, perform well, and meet business requirements. Conclusion: Embrace the Future of EPM Reporting Migrating from traditional Financial Reports to the modern "Reports" framework within Oracle EPM Cloud is a strategic imperative. The benefits in terms of enhanced functionality, improved performance, cloud-native advantages, and alignment with Oracle's roadmap make a compelling case. By proactively planning and executing this transition, you can empower your organization with a more robust, agile, and future-proof reporting solution, ready to meet the evolving demands of your business. Don't wait for your reporting tools to become a bottleneck. Start planning your migration to "Reports" today and unlock the full potential of your Oracle EPM Cloud investment.
Migrating from PCM to EPCM isn't just about adopting new technology; it's about future-proofing your profitability analysis, gaining deeper insights through integration, and empowering your teams with modern, efficient tools.
