Future-Proof Your EPM Reporting: Why Migrating from Financial Reports to Reports is a Smart Move
Nadia Lodroman | Oracle EPM Consultant | Integrity in Every Insight.
Listen to Tresora and Ledgeron's chatting about this blog post:
Migrating to Reports in Oracle EPM is a Strategic Imperative
- 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.
- 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.
- 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.
Turning financial complexity into operational clarity. Because in Finance, Integrity is Permanent.
General EPM Strategy FAQs
Why should a company use EPM Automate instead of custom scripting
EPM Automate allows for robust, bi-directional data orchestration between Oracle EPM and source ERPs (like NetSuite or Fusion) using native capabilities. It is highly scalable, easier to maintain during Oracle's monthly updates, and avoids the fragility of heavy custom coding.
Can Oracle Cloud EPM integrate with multiple different ERPs simultaneously?
Yes. Through strategic data pipeline architecture, Oracle EPM can ingest, consolidate, and even write-back finalized data to multiple disparate ERPs concurrently, acting as the single source of truth for the enterprise.
How does Oracle FCCS handle Minority Interest (NCI) and CTA?
While standard FCCS provides out-of-the-box functionality, complex global enterprises often require advanced configuration to isolate and calculate Minority Interest (NCI) and Cumulative Translation Adjustments (CTA) accurately at the top consolidated hierarchy without relying on manual journals.
Can you bypass the out-of-the-box Goodwill calculation in Oracle FCCS?
Yes. By utilizing advanced native configuration and custom consolidation rules, you can bypass standard Goodwill Input/Offset functionality to meet highly specific, non-standard acquisition accounting requirements.
How many daily transactions can Oracle ARCS process?
Oracle ARCS is built for enterprise scale. With proper architecture in the Transaction Matching engine, ARCS can easily process and auto-match hundreds of thousands of daily banking transactions, representing billions of dollars in value.
What is the difference between Transaction Matching and Reconciliation Compliance in ARCS?
Transaction Matching automates the high-volume, line-by-line matching of data (like daily bank feeds or ACH). Reconciliation Compliance is used to govern the period-end justification of broader balance sheet account balances.
Does Oracle TRC handle Country-by-Country Reporting (CbCR)?
Yes. Oracle Tax Reporting Cloud (TRC) provides built-in frameworks to automate Country-by-Country Reporting, ensuring multinational organizations remain compliant with global BEPS (Base Erosion and Profit Shifting) regulations.
How does Oracle TRC integrate with FCCS?
TRC and FCCS share the same platform architecture, allowing for seamless data flow. Finalized pre-tax consolidated data from FCCS feeds directly into TRC for tax provisioning, ensuring perfect alignment between the finance and tax departments.
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