Sun, Dec 4, 2016 | updated 11:39 AM IST

Oracle Cloud helps businesses to understand the root causes behind costs and revenues

Updated: Nov 10, 2016 17:49 IST

New Delhi[India], Nov. 10 (ANI) Oracle announced a purpose-built solution for finance executives and organizational managers to understand specifically what drives profitability, continually assess how resources are being consumed, and take action.

Oracle Profitability and Cost Management Cloud (PCMCS) enables business users to understand the root causes behind costs and revenues. Users can quickly and easily determine the profitability of customers, products, geographies, and sales channels, and take action to improve profitability and lower costs.

"What you don't know about where your business is making and losing money can really hurt you. In today's high-paced and increasingly competitive global business climate, it's essential that your organization focuses resources and cash on the right priorities," group vice president of enterprise performance management, Oracle, Hari Sankar said in a press statement.

"PCMCS enables organizations to easily identify their profit winners and address inefficiencies, ultimately improving business agility and profitable revenue growth, while minimizing costs," he added.

Built for the cloud, Oracle PCMCS delivers new capabilities and innovation in the cloud, while also leveraging best practices from Oracle's on-premises offering, Hyperion Profitability and Cost Management.

The solution allows organizations to keep their general ledgers "thin," fast, and efficient by performing detailed calculations outside the general ledger.

Business users can identify profit potential and areas of cost savings with simple one-click reports and dashboards, without reliance on IT.

The cloud solution delivers pre-built reports including profit curves, scatter plots, and traceability, and includes features for detailed financial modeling and ad hoc reporting. Oracle PCMCS handles large data sets, and easily integrates with multiple Enterprise Resource Planning (ERP) systems, as well as with Oracle Enterprise Performance Management (EPM) Cloud and on-premises offerings.

Oracle PCMCS helps determine where best to spend limited investments and scarce resources to get the biggest impact in financial services where banks can gain visibility into complex cost allocations and calculate costs down to product, consumer, and branch.

For healthcare sector, Organizations can provide accurate charge coding in patient profitability.

PCMCS helps in higher education where Institutions can view the full cost of a course by calculating everything needed to deliver the course, including the cost of building the course.

Telecom companies can apply network costs directly to a product that consumes actions on that network, such as minutes or data.

In transportation field organizations can calculate all costs of moving a plane from point to point, including capitalization on plane, crew, and station costs at each airport, which can be allocated based on factors like number of passengers carried or number of flights taken.

Oracle PCMCS is available now for existing and new customers. Businesses can choose flexible deployment options to best fit their needs. For additional information, visit Oracle Cloud and connect with Oracle EPM Cloud on Twitter.(ANI)