What is a Center of Excellence?

Cloud adoption can empower your organization to improve business agility and promote innovative solutions. A Center of Excellence (CoE) oversees your cloud initiative, and it can help protect and maintain your investment and promote effective use.

Adopting the cloud is a multi-layered process that extends beyond the implementation of new technology. Moving to the cloud requires organization-wide change management, including executive support, clear business goals, a workforce readiness plan, and modernization of current business and information technology processes.

Your organization can accelerate its cloud transformation by creating a multidisciplinary team that includes executive sponsors, key stakeholders, finance representatives, and business and technical implementation teams. This team is called the Center of Excellence (CoE).

The CoE oversees the cloud initiative. It leads your organizational change management process, develops a workforce readiness plan, and serves as a steering committee for cloud standards and policy definition. The CoE also manages the cloud adoption roadmap, tracks features and enhancement requests, and responds to escalations.

Your organization can also demonstrate its leadership and innovation by creating an EPM CoE. An EPM CoE is a centralized function to ensure adoption and best practices, and to drive transformation.

The EPM CoE team:

  • Ensures cloud adoption, helping your organization get the most out of your Cloud EPM investment
  • Serves as a steering committee for best practices
  • Leads EPM-related change management initiatives and drives transformation

Some organizations call this an EPM center of competency, a competency center, or EPM support. No matter the name, this guide has taken a new look at the EPM market and is providing guidance for all cases. This applies whether you are new to the cloud or if you have already a digital-first strategy. And we welcome your feedback for this guide. Please forward your comments to epmdoc_ww@oracle.com.

As a next step, get started with creating your EPM Center of Excellence.

What is a Center of Excellence?

More Resources

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Video icon Watch this video to get an overview of an EPM Center of Excellence. (Complete overview details are in this guide.)

Video icon Watch this video to get an overview of how to create an EPM Center of Excellence. (Complete details for creating an EPM Center of Excellence are in this guide.)