In this article, you are going to know EPM Vs. ERP, their characteristics, and differences.
Oracle is the choice of most successful companies and enterprises due to its efficient database management options and security options.
EDMC (Enterprise Data Management Cloud) is an oracle cloud SaaS offering.
Oracle Enterprise Data Management Cloud (EDMC) is one of the modules of EPM.
What is SaaS?
Software as a service (SaaS) is a cloud-based software delivery model. In it, the cloud provider develops and maintains cloud application software. Also, provides automatic software updates, and makes software available to its customers via the internet.
The company sells database software and technology, cloud-engineered systems, and enterprise software products. It is particularly its own brands of database management systems.
Organizations needed software that could help in accounting. So they developed a software named enterprise resource planning.
EPM Vs. ERP
Enterprise resource planning(ERP) is software. It has been there for decades now helping many companies in their accounting and business transactions.
But with companies growing and expanding, it gave birth to new complexities and challenges. This gave rise to another software application which we know today as enterprise performance management (EPM).
What is EPM?
Now EPM is at the stage wherein it handles core business challenges like strategic planning, reporting, tax provisioning, and more.
The financial accounting module of an ERP package provides company-wide control and integration of financial information. General Ledger (GL) module is the heart of the finance package of an ERP system.
Some of the key components of EPM systems include planning, budgeting, and forecasting capabilities and the ability to monitor performance measures (KPIs), provide analysis, and manage to report. Enterprise Performance Management also encompasses the financial close, consolidate, and report process.
What is General Ledger?
A general ledger, also known as a nominal ledger is a bookkeeping ledger in which accounting data is posted from journals and from sub-ledgers. Examples of sub-ledgers are accounts payable, accounts receivable, cash management, fixed assets, purchasing, and projects.
Launch the environment (EPM Vs. ERP)
EPM cloud is a cloud app. We have an environment launchpad. We can then launch the environment. Then login to the oracle cloud app and different apps will be seen. After, a particular app can be chosen for example Planning.
With Oracle Enterprise Data Management Cloud, you can quickly import, manage, and export consistent and accurate enterprise data to multiple external applications.
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