Energy and Utilities

Supercharged Data for Utility Companies with Oracle Analytics & EPM

utilities industry

Utility companies have had a hard summer in 2020! Blackouts and brownouts caused by fires in the West, and Storms on the East Coast and in the Gulf have filled the news. It has been written in Utility industry publications that there is an enormous opportunity to marry Operational Technology and key Finance systems and use emerging technologies such as predictive analytics to build Data that Utility executives can strategically model with and plan to ensure the best and most efficient customer experience.

Oracle’s award winning EPM (Enterprise Performance Management) suite that is the gold standard for enterprise Planning and Budgeting, Strategic Modeling, Close & Consolidation, and Account Reconciliation services amongst others can be “supercharged” with Oracle Analytics cloud in Utility companies that have long had fractional views to data because of disparate OT and key Finance Systems.

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It has been written by experts in the Utilities industry that strategic modeling based on verified data can empower Utilities to communicate with utility commissions and ratepayers.

The “supercharged” combination of Oracle Cloud Analytics and Cloud EPM allows multi-scenario comparisons like;

  • actual to forecast to budget
  • discover and communicate variances
  • highlight profitability drivers by searching beyond GL level data to rich detail from sub-ledgers
  • drill down to transaction detail sourced from one or more source applications

The Perficient Energy team is here to work with Utility companies on next steps.

 

About the Author

Alaster has two decades of experience working in the Oil & Gas industry and could be described as a “digital roughneck”. Alaster has expertise in innovation, transparency, competitive advantage, and systems transformation, and how all can be accomplished via Oracle ERP, EPM, SCM, and Analytics in the Energy industry.

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