SOURCE: Oracle Corporation

Oracle Corporation

February 06, 2015 11:20 ET

Latest Release of Oracle Enterprise Performance Management System Delivers Enhanced Functionality and Greater Agility in Decision-Making

Key Updates Extend Oracle's Industry-Leading EPM Applications Suite to Help Organizations Improve and Streamline Business Processes

REDWOOD SHORES, CA--(Marketwired - Feb 6, 2015) - Continuing to provide industry-leading solutions that help customers unlock business potential and streamline performance management processes, Oracle (NYSE: ORCL) today announced Oracle Enterprise Performance Management (EPM) System Release 11.1.2.4. This new release incorporates key updates to the entire portfolio of EPM applications that enable organizations to engineer predictable performance, connect the enterprise, and further improve decision-making.

Timely, accurate financial consolidation and reporting is at the heart of ensuring external stakeholder confidence and empowering internal stakeholders to run the business profitably. Oracle EPM System Release 11.1.2.4 includes a major update to Oracle Hyperion Financial Management that delivers significant performance improvements as well as simplicity of deployment and administration. Oracle Hyperion Financial Management is now also available on Oracle Exalytics In-Memory Machine. With this addition, the entire Oracle Hyperion Financial Close Suite is available on Oracle Exalytics, offering simplified deployment, reduced total cost of ownership, and improved performance through a responsive close process with reduced errors. The release also includes new modules for supplemental data management and tax governance to give finance departments the ability to automate and streamline the end-to-end financial close process.

"With Oracle Hyperion Financial Management 11.1.2.4 we saw dramatic improvements in financial consolidation times. Executing a consolidation on our main organizational structure went from three hours to 15 minutes," said Diane Ferry, administrator at Emerson for Oracle Hyperion Financial Management. "As we have many alternate organizational structures, the savings in consolidation times will allow us to have the application ready for our users more quickly. It will also allow our users to more quickly analyze their results."

The new Oracle EPM System enables the extension of best-in-class planning processes beyond finance to operational lines of business, resulting in broader involvement and alignment across the enterprise. Greater participation leads to improved collaboration and higher predictability in performance.

"As organizations become increasingly connected, the need for responsive planning and accurate reporting has expanded to a growing number of users beyond finance," said Hari Sankar, group vice president of product management, Oracle. "The new release of Oracle Enterprise Performance Management applications is a significant step forward in our vision of helping our customers use best-in-class capabilities to plan and report with more certainty and flexibility across a wider base of users, improving their agility and business performance."

Oracle EPM System release 11.1.2.4 is available now for existing and new customers. Businesses can choose among flexible deployment options including cloud, on-premises, and hybrid models for the solution that best fits their needs.

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