Oracle, a global leader in integrated cloud applications and platform services, has unveiled a groundbreaking product at Oracle CloudWorld.
This launch introduces Oracle Cloud EPM for Sustainability, which stands as a testament to Oracle’s commitment to supporting organizations in managing their sustainability initiatives more efficiently and effectively.
The drive behind this innovative solution stems from the growing necessity for businesses to align their operations with sustainability goals. Organizations face the challenge of collecting environmental data from diverse sources, including internal systems and external partners. This data often ends up siloed in spreadsheets, making the reporting and analysis process cumbersome, slow, and prone to errors. Oracle Cloud EPM for Sustainability addresses these issues head-on, leveraging cutting-edge automation, artificial intelligence (AI), and machine learning to streamline data consolidation, improve reporting accuracy, and comply with emerging sustainability reporting standards.
Oracle’s expertise in cloud applications and platform services enables this solution to seamlessly integrate with existing business processes. The company’s robust portfolio includes solutions for enterprise resource planning, human capital management, and more, all designed to empower organizations to achieve operational excellence and innovation.
The newly introduced Oracle Cloud EPM for Sustainability equips businesses with the tools they need to effectively manage and report on their sustainability initiatives. Features include direct data collection from various sources, scenario modeling to explore multiple sustainability strategies, and AI-powered insights for improved decision-making. This comprehensive approach ensures organizations can meet international reporting standards, such as the Financial Reporting Standards (FRS) and the Global Reporting Initiative (GRI), with greater ease and accuracy.
Furthermore, Oracle’s solution enables predictive planning and intelligent goal setting, supported by AI and machine learning. This not only facilitates more accurate forecasting and planning but also enhances the ability to adjust strategies in real-time. Narrative reporting features also allow for the creation of detailed, context-rich reports that can be shared with stakeholders, ensuring transparency and accountability in sustainability efforts.
Oracle’s commitment to sustainability is evident in this latest offering. “Many organizations are beginning to treat sustainability reporting requirements with the same rigor, governance, and technical expertise as financial reporting,” Oracle Group Vice President of Product Management, Hari Sankar, said. “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.”
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