Governance
Establish a governance process that lets your organization meet its business goals.
Your EPM CoE governance process should include policies and guidelines. This will help your organization align business, Finance, and IT, as well as improve efficiency, accelerate growth, and reduce risks. It also helps ensure that you meet requirements for resource allocation, cost management, and compliance.
Think of governance as the guardrails for your cloud environment. Governance is not a deterrent for cloud adoption. Instead, it helps your users safely onboard their workloads into the cloud with clear rules, policies, and accountability.
Iterate your governance process throughout your cloud transformation. This helps address your organization's requirements as they evolve and mature.
Consider monitoring your processes and making improvements by leveraging some of the existing Cloud EPM technology. For example:
- Monitor tasks by reviewing information in Using Dashboards to Work with Data.
- Adapt navigation flows to each user’s needs and responsibilities
- Govern with workflow
- Report on the interdependent activities of a business process
Data Governance
Data governance is critical to the success of your cloud transformation. Two key guidelines are to select the right tool for cloud conversion projects and to optimize your chart of accounts for the cloud. Read this advice for successful cloud projects from a seasoned finance executive: The differences data can make (or break) in a digital transformation.
To accelerate cloud adoption and ensure success, an important strategy is to use a cloud enterprise data management tool like Oracle Enterprise Data Management. This will also help the EPM CoE connect your enterprise applications and manage change.
