New sustainability capabilities in
Oracle Cloud EPM help business leaders efficiently plan, track, and
report on initiatives and comply with new reporting
standards
LONDON, March 14,
2024 /PRNewswire/ -- Oracle CloudWorld
-- Oracle today announced Oracle Cloud EPM for Sustainability,
a new solution in Oracle Fusion Cloud Enterprise Performance
Management (EPM) that helps organizations efficiently measure and
effectively manage sustainability initiatives. The new solution
will help business leaders gain the insights they need to make
progress on sustainability goals by connecting data, plans, and
targets across their organization, and by modeling multiple
scenarios to optimize outcomes.
Environmental data is sourced from many locations, business
units, and systems within an organization and from suppliers and
business partners. It is often manually consolidated in
spreadsheets, so reporting and analyzing this data can be a slow,
inefficient, and error-prone process. To address these challenges,
improve the reporting process, and efficiently and accurately
compile the information needed for emerging reporting guidelines,
organizations need to leverage a purpose-built solution with
embedded automation, AI, and machine learning.
"Many organizations are beginning to treat sustainability
reporting requirements with the same rigor, governance, and
technical expertise as financial reporting," said Hari Sankar, group vice president, Product
Management at Oracle. "With Oracle Cloud EPM for Sustainability,
our customers can leverage a trusted solution that embeds AI and
other advanced technologies to help improve efficiency, deliver
insights, promote compliance, and effectively manage their progress
on sustainability initiatives."
Oracle Cloud EPM for Sustainability helps organizations
accelerate their sustainability efforts. The new solution enables
organizations to:
- Collect, Connect, and Transform Data: Direct connections
and file-based uploads enable organizations to consolidate
disparate data sources to help meet International Financial
Reporting (FRS) and Global Reporting Initiative (GRI) standards.
For example, organizations can align energy use, fleet mileage,
procurement data, and other applicable data sources to meet the
requirements of the relevant frameworks and standards. In
addition, built-in process management tools help capture all data,
which not only improves the clarity of calculations, but also
enables errors to be identified and discrepancies to be
reconciled.
- Model Different Scenarios: Embedded scenario
modeling capabilities enable organizations to run an unlimited
number of scenarios simultaneously to determine the best path
forward. With an enhanced understanding of the risks and
opportunities for each initiative, organizations can make smarter
decisions about sustainability initiatives and drive greater
impact.
- Explore AI-Powered Insights: Built-in pattern
recognition capabilities provide automated alerts on anomalies and
variances, while self-service capabilities for filtering, sorting,
and visualization enable users to drill into the data in a safe,
effective manner. With purpose-built dashboards and automated
analysis, organizations can monitor progress and take corrective
action in a timely manner.
- Create Intelligent Plans: Predictive planning
enables organizations to create and validate forecasts and predict
future performance. In addition, embedded AI and machine learning
helps business leaders continuously improve plans.
- Report and Act on Goals: Narrative reporting
capabilities help business leaders align data with relevant
reporting standards and produce reports with contextual detail that
can be shared with key stakeholders. Timely, accurate, and
insightful reports help organizations identify areas for
improvement and quickly take action to reduce environmental
impact.
Part of Oracle Fusion Cloud Enterprise Resource Planning (ERP),
Oracle Cloud EPM offers a comprehensive set of enterprise
performance management capabilities that help organizations align
financial and operational planning, close the books faster, and
manage enterprise master data.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please
visit us at oracle.com.
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registered trademarks of Oracle Corporation. NetSuite was the first
cloud company--ushering in the new era of cloud computing.
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SOURCE Oracle