Narrative reporting in Oracle Cloud EPM (Enterprise Performance Management) is a feature that allows organizations to create and distribute highly formatted and interactive reports to their stakeholders. It makes it possible to provide visually appealing and instructive information and integrates financial and non-financial data with narrative commentary to give a full view of the firm’s performance.
This reporting module of Oracle Cloud EPM is a web-based tool that helps businesses automate and streamline reports’ production, distribution, and consumption. Users can efficiently construct custom reports and dashboards using the module’s drag-and-drop capabilities without having strong technical knowledge.
Using narrative reporting, users can construct reports using different data sources, such as Oracle EPM Cloud applications and outside data sources. In addition, information can be made more exciting and instructive by integrating commentary and narratives with text, photos, and hyperlinks supported by the module.
Narrative reporting in Oracle Cloud EPM can help organizations to:
- Produce thorough, accurate, and timely reports that offer insights into their performance.
- Automate the report creation process to improve efficiency and lower the chance of mistakes.
- Stakeholder collaboration and transparency will be increased by giving stakeholders a single source of truth for financial and non-financial data.
- Add commentary and narratives to reports to improve visual appeal and boost stakeholder involvement.
Other than that Narrative reporting also provides:
- Complete corporate and management reporting solutions in the cloud: Oracle Cloud EPM’s Narrative Reporting offers a comprehensive corporate and management reporting solution. Users of the solution can produce and disseminate financial and non-financial reports specific to various organizational stakeholders’ requirements.
- Combine data and narrative in a streamlined process: It is simpler to present a comprehensive view of an organization’s performance thanks to Oracle Cloud EPM’s Narrative Reporting feature, which enables users to mix data and stories in a single report. The system also simplifies preparing reports by allowing users to include narrative components such as commentary, photos, and other narrative elements in addition to financial and operational data.
- Report confidently: In Oracle Cloud EPM, narrative reporting offers customers a single source of truth for financial and non-financial data, enabling users to report confidently. Also, the solution has data checks and built-in validation criteria, which guarantee reports’ accuracy and comprehensiveness.
- Collaborate securely: Thanks to Oracle Cloud EPM’s Narrative Reporting feature, users may safely collaborate with other organizational stakeholders. In addition, the solution offers a safe and auditable setting for developing, evaluating, and approving reports.
- Leverage built-in report writing: Thanks to its integrated report-writing features, users may easily produce and prepare reports using Narrative Reporting in Oracle Cloud EPM. The system also offers a variety of formatting choices and information templates, allowing users to design reports specific to their requirements.
- Regulatory reporting and XBRL: Thanks to Oracle Cloud EPM’s regulatory reporting and XBRL support, users can build reports that adhere to regulatory requirements. Furthermore, the system has integrated XBRL tagging and validation rules, making it more straightforward for users to produce and submit compliant reports.
- Data Integration: Users of Oracle Cloud EPM can combine data from several sources, such as Oracle EPM Cloud applications and external data sources, into a single report using narrative reporting.
- Collaboration: The system offers a safe and auditable environment for report creation, review, and approval, enabling users to communicate securely with other organizational stakeholders.
- Reporting Templates: Users may more easily produce reports that are suited to their needs thanks to the variety of formatting options and templates offered by Oracle Cloud EPM’s Narrative Reporting.
- Narrative Commentaries: Service users can comprehensively view an organization’s performance by including narrative commentaries, pictures, and hyperlinks in their reports.
- Regulatory Reporting: Thanks to Oracle Cloud EPM’s regulatory reporting and XBRL support, users can build reports that adhere to regulatory requirements.
- Time Savings: With the help of Oracle Cloud EPM’s Narrative Reporting, users can create reports fast and efficiently while saving time and effort.
- Increased Accuracy: The system has data checks and built-in validation criteria, which help guarantee reports’ quality and comprehensiveness.
- Enhanced Visibility: A single source of truth for financial and non-financial data is offered via narrative reporting in Oracle Cloud EPM, enhancing stakeholder visibility and transparency.
- Improved Decision-Making: Oracle Cloud EPM’s Narrative Reporting gives stakeholders insights into an organization’s performance so they may make wise decisions.
- Flexibility: Oracle Cloud EPM’s Narrative Reporting users can develop custom reports suited to their needs, giving them the flexibility and agility to respond to shifting business needs.
Narrative Reporting (NR) in Oracle Cloud EPM is a powerful solution that allows organizations to combine management, narrative, and statutory reporting needs into a single platform. Users may quickly and easily create reports while getting immediate visibility into the status of their reporting lifecycle by offering advanced mobile, self-service, and collaborative options. Several additional features are also included in the system, including a direct interface with Oracle EPM, BI, and ERP data sources, hierarchical and dimensional analysis tools for financial data, and safe access at all levels to manage sensitive content. These advantages enable enterprises to provide all stakeholders with faster, more accurate insights at any time and location. Overall, It offers a reasonable reporting solution to assist businesses in strengthening their capacity for decision-making, boosting productivity, and cutting expenses.
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