In today’s fast-paced business environment, organisations must invest in modern and up-to-date Enterprise Performance Management (EPM) applications such as Oracle EPM Cloud to stay competitive. Oracle Hyperion and EPM tools facilitate effective business planning, forecasting, and reporting, supporting data-driven decision-making by offering real-time insights into financial and operational performance. By integrating and analysing data from various departments, EPM applications help improve efficiency, drive sustainable growth, and ensure business success. With Oracle Hyperion Premier Support transitioning to Sustaining Support in December 2021, it is crucial for organisations to plan their Oracle Hyperion journey and consider migrating to Oracle EPM Cloud.
Challenges Faced by Oracle Hyperion Customers
Oracle Hyperion customers face several challenges due to the shift from Premier to Sustaining Support, including limited support services, lack of new features or enhancements, compatibility issues, and increased costs. These challenges can hinder an organisation’s ability to optimise their Oracle EPM application and keep up with evolving business needs.
- Limited support services: Sustaining Support primarily covers existing product functionality and does not include new updates, fixes, or security patches. This may expose customers to potential security risks and make it difficult to address software issues that emerge over time.
- New features or enhancements: Customers will no longer receive access to new product features, enhancements, or performance improvements, which could limit their ability to optimise the EPM application or keep up with evolving business needs.
- Compatibility issues: As technology advances, customers may face compatibility challenges with newer software, hardware, or operating systems. Without ongoing support from Oracle, addressing these issues can become increasingly difficult.
- Increased costs: Relying on Sustaining Support may lead to higher costs in the long run, as customers might need to seek third-party support, custom solutions, or workarounds to address issues that Oracle no longer covers.
The Importance of Embracing Change
The future of business has arrived sooner than expected, with disruptive events becoming more common and increasing the importance of Oracle Cloud technology. Artificial intelligence and machine learning are radically transforming finance operations, automating routine tasks and allowing professionals to focus on identifying growth markets. Change is not an option—it is essential for ensuring business success in the era of Oracle EPM Cloud.
Navigating the Oracle EPM Way
Oracle EPM Cloud: The Optimal Solution for Oracle Hyperion Customers
Oracle EPM built on top of the same Oracle Hyperion platform providing enhanced functionality and similar user experience becomes the natural choice of Upgrade for existing Hyperion customers.
- Enhanced Flexibility: Oracle EPM Cloud’s single, integrated platform allows businesses to implement processes at their own pace, simplifying support and management.
- Improved Insights: Modern reporting capabilities and next-generation analytics enable data-driven decision-making and improved business performance with Oracle EPM.
- Accelerated Close Process: Advanced capabilities, pre-built functionality, and best practices in Oracle EPM Cloud allow organisations to close their books faster and automate manual processes.
- Reduced Total Cost of Ownership: Oracle EPM Cloud’s cloud-based solution reduces the total cost of ownership by 52% compared to on-premises Oracle Hyperion alternatives (Nucleus), offering a higher cloud ROI.
- Seamless Transition: Fusion Practices’ Hyperion to Oracle EPM Cloud Migration accelerators provide comprehensive tools and services for a smooth transition from Oracle Hyperion to Oracle EPM Cloud.
Oracle EPM Cloud is the ideal solution for Oracle Hyperion customers looking to enhance their EPM capabilities and stay competitive in the ever-evolving business landscape. Contact us today to plan your Oracle Hyperion roadmap and ensure a successful migration to Oracle EPM Cloud.