San Francisco State University Moves Financial Planning to Oracle Cloud
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an Francisco State University (SFSU) has successfully moved its financial processes to Oracle Fusion Cloud Enterprise Performance Management (EPM).
With Oracle Cloud EPM, SFSU's finance team gains the transparency and flexibility needed for more accurate planning, budgeting, and forecasting. The improved processes will help to increase agility, improve insights and enhance business decision-making across the organization.
The foundation we've built with Oracle Cloud EPM for our budget processes has enabled us to quickly adapt to unexpected conditions, especially when building budgets and financial plans for the coming years, said Bernice Yeh, senior budget analyst, San Francisco State University. We have been able to model scenarios to increase efficiency, reduce risk, and provide our school leaders with the correct information to allow them to make informed decisions.
Working with Oracle and implementation partner Performance Architects, SFSU moved its financial reporting, analytics, budgeting and forecasting to Oracle EPM Cloud, with the final module going live in November 2020.
San Francisco State University has been able to take advantage of Oracle's Scenario Modeling, especially in coordination with the rest of the solution, said Tyler Feddersen, EPM director, Performance Architects SFSU continues to model out scenarios to present to school leaders. Once a path has been decided, the budget process serves as a user-driven answer to the updated target(s).
Having removed tedious manual processes, SFSU's budget office can now adapt quickly to changing economic conditions with simple and insightful reporting and analytics. Finance leaders also have the ability to boil insights down to position-level detail to more effectively manage employees and optimize budgets. Oracle Cloud EPM's scenario modeling capability enables SFSU to test a range of scenarios and assess potential responses, and build a 10-year strategic plan.
Higher education organizations are facing a unique challenge, navigating complete or partial campus closures while trying to retain students in an online business model, said Hari Sankar, group vice president of EPM product management, Oracle. With Oracle Cloud EPM, SFSU's finance team can rapidly report, gain real-time business insights, and accurately forecast revenues and liquidity to make better business decisions. While highly relevant in the current business environment, these capabilities will also improve productivity and ensure the university can quickly respond to future challenges, whatever they may be.
✔️ San Francisco State University Moves Financial Planning to Oracle Cloud
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