Oracle Cloud EPM Financial Consolidation and Close

Ensure you choose a trusted implementation partner. We were lucky to have a brilliant partner.

Start with a solid implementation plan that the business has bought into and signed off on.

Talk to Oracle about your needs and get a demo.

Get a sandbox and a training pod. Train your users before starting the project

More transparency on complexities in the implementation of some features. Use-case oriented training could be a good solution.

Keep dimensions small and don't turn on approval process. Reduce number of scenarios.

Conduct use-case base reviews and attempt to sit with a live customer through the close process

Ensure the vendor is fully across your status quo position ahead of implementation.

Data validation is likely to take longer than originally planned.

Make sure that you have undertaken a data reconciliation exercise.

The product and implementation teams are great (OCS). Ensure though that the sales team have done a thorough job of really understanding what you need the system for.

Start simple, you don't need every process or report automated on day 1. Don't enable the ownership module unless you're going to use it. Plan appropriately for data reconciliation effort and documenting of changes to consolidated values.

Don't underestimate the effort required for data migration. This is not just for FCCS but if you are moving from one system to a new one, this element is likely to require the biggest effort and time. Also, ensure business processes are well documented before the project starts. Also, ensure that you assign knowledgeable people, from your business (not contractors), full time for the duration of the implementation to work with the Implementor.

Design the application for more than just current needs - think about what other requirements that can be addressed.

Be very selective choosing implementer. Less is more - do not make it too complex.

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Start simply then scale functionality as needed.

Ensure detail requirements are catered and agreed with Oracle consultants and ensure continuous support from the consultants till the end of project.

Bei der Implementierung auf die transparente Darstellung aller Datenquellen achten. Frühzeitig die Fachanwender bei der Implementierung mit ins Projekt integrieren.

Take the time to examine your current processes to determine what is really part of your process vs a result of your current application and configure to support your process vs just replicating your current applications. Justify every customization or deviation from out of the box functionality. Chart of account and organization re-org and clean up should be done before starting the implementation. Lastly, imagine where you want to go with the applications and implement with that in mind, don't implement as you are today.

Knowhow im Unternehmen aufbauen für die Administration der Software.

Speak to references in the same industry that have used this tool for a long time, and recently implemented to gauge their successes and hear about their lessons learned. Also, find a highly experienced implementation partner.