1 Introduction to EPM Center of Excellence
An EPM Center of Excellence (CoE) is a unified effort to ensure adoption and best practices, and to drive transformation in business processes related to performance management and the use of technology-enabled solutions.
But what is cloud adoption in the context of EPM? In this context, cloud adoption can mean replacing spreadsheets or home-grown applications with Cloud EPM processes, migrating on-premises EPM applications (like Hyperion) to the cloud, or developing solutions for new business requirements by using Cloud EPM.
While adopting the cloud, as with any change, organizations gather knowledge and best practices. If this information is accumulated in one area, it can benefit all of the teams, departments, and entities of your organization. In the context of EPM, the best practices you develop might include eliminating manual processes, leveraging out-of-the-box scheduling and integration capabilities, or automating searches for insights.
These best practices can help transform and improve business processes. This transformation can have a corporate mandate, in which case it is a top-down approach. But you can also adopt Cloud EPM by starting with one business process, like Financial Consolidation and Close or Planning, and grow from there.
This guide will help you with practical steps on how to create and run an EPM Center of Excellence, whether you are starting your first Oracle Cloud EPM project or have already gone through an implementation. The information in this guide will be helpful whether you are in Finance, IT, or business, and if you have an internal process or are collaborating with an Oracle partner.
Use this introduction to learn about the benefits and value proposition:
- What is a Center of Excellence (CoE)?
- Why do I need a CoE?
- What are the business benefits and value proposition of a CoE?
