Oracle is introducing major enhancements to its EPM reporting capabilities with the February 2021 update. These enhancements will undoubtedly provide Oracle EPM customers the opportunity to expand their current reporting abilities to meet the challenges facing organizations today. Continue reading below as we touch on three things every customer must know about the new functionality now available.
The Introduction of FR’s (Financial Reporting) Replacement: Embedded Reports
Per Oracle’s readiness release: “Management Reporting within Oracle’s Narrative Reporting offering has been available for the past few years. It is now embedded in the EPM Cloud Platform applications (Planning, Financial Consolidation and Close, Tax Reporting, and Free Form) alongside, and eventually replacing, Financial Reporting.”
The new Reports provides several advantages including an easy-to-use drag and drop interface for designing and editing reports, bundling of reports into Books, and report Bursting (the ability to run a report or book for more than one member of a single dimension for one data source).
The New Embedded Reports Offering Provides a Better User Experience
Customers will NOT have to wait for future releases in order to see new functionality that directly improves the reporting experience. The following lists immediate features/advantages of using the new embedded reports option over continuing to use FR reports:
- New Charts – Waterfall, doughnut, scatter, bubble, etc.
- User Interaction – Selectable alias tables, member label display, ad-hoc zoom mode,
- Narration – Intelligent Narrative Generation is available
Migrating from FR to the New Reports is Possible
Customers can perform an in-place (on the same instance) migration of existing FR reports . Users can select either all or individual reports to migrate. Not all elements of the FR reports will migrate automatically; any the errors requiring resolution when opening a migrated report are shown to the users. The error messages will be provided in an easy-to-understand explanation of the issue.
Note: Due to architecture differences, migration from Narrative Reporting is not supported at this time.
As you can see, the next generation is here! Perficient recommends that Oracle EPM customers evaluate their reporting capabilities, experiences, and goals against these new developments.
Contact us today if you have questions, or would like to understand how Perficient can help!