Oracle has announced Oracle Cloud EPM for Sustainability, a new solution in Oracle Fusion Cloud Enterprise Performance Management (EPM) that helps organisations measure and manage sustainability initiatives.

The new solution is designed to help business leaders gain the insights they need to make progress on sustainability goals by connecting data, plans, and targets across their organisation, and by modeling multiple scenarios to optimise outcomes.

Environmental data is sourced from many locations, business units, and systems within an organisation and from suppliers and business partners. It is often manually consolidated in spreadsheets, so reporting and analysing this data can be a slow, inefficient, and error-prone process. To address these challenges, improve the reporting process, and efficiently and accurately compile the information needed for emerging reporting guidelines, organisations need to leverage a purpose-built solution with embedded automation, AI, and machine learning.

Commenting on this, Oracle group vice president for product management, Hari Sankar, said: “Many organisations are beginning to treat sustainability reporting requirements with the same rigor, governance, and technical expertise as financial reporting.

“With Oracle Cloud EPM for Sustainability, our customers can leverage a trusted solution that embeds AI and other advanced technologies to help improve efficiency, deliver insights, promote compliance, and effectively manage their progress on sustainability initiatives.”

Oracle Cloud EPM for Sustainability helps organisations accelerate their sustainability efforts. The new solution will enable organisations to:

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  • Collect, Connect, and Transform Data: Direct connections and file-based uploads enable organisations to consolidate disparate data sources to help meet International Financial Reporting (FRS) and Global Reporting Initiative (GRI) standards. For example, organisations can align energy use, fleet mileage, procurement data, and other applicable data sources to meet the requirements of the relevant frameworks and standards. In addition, built-in process management tools help capture all data, which not only improves the clarity of calculations, but also enables errors to be identified and discrepancies to be reconciled.
  • Model Different Scenarios: Embedded scenario modeling capabilities enable organisations to run an unlimited number of scenarios simultaneously to determine the best path forward. With an enhanced understanding of the risks and opportunities for each initiative, organisations can make smarter decisions about sustainability initiatives and drive greater impact.
  • Explore AI-Powered Insights: Built-in pattern recognition capabilities provide automated alerts on anomalies and variances, while self-service capabilities for filtering, sorting, and visualisation enable users to drill into the data in a safe, effectivemanner. With purpose-built dashboards and automated analysis, organisations can monitor progress and take corrective action in a timely manner.
  • Create Intelligent Plans: Predictive planning enables organisations to create and validate forecasts and predict future performance. In addition, embedded AI and machine learning helps business leaders continuously improve plans.
  • Report and Act on Goals: Narrative reporting capabilities help business leaders align data with relevant reporting standards and produce reports with contextual detail that can be shared with key stakeholders. Timely, accurate, and insightful reports help organisations identify areas for improvement and quickly take action to reduce environmental impact.

Part of Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Cloud EPM offers a comprehensive set of enterprise performance management capabilities that help organisations align financial and operational planning, close the books faster, and manage enterprise master data.