San Francisco State University Moves Financial Planning to Oracle Cloud
San Francisco State University has transitioned its financial processes to Oracle Fusion Cloud Enterprise Performance Management (EPM), enhancing transparency and flexibility in planning, budgeting, and forecasting. The move, finalized in November 2020, allows SFSU to improve decision-making and adapt to economic changes. This transformation enables efficient scenario modeling, reducing manual tasks, and fostering strategic planning for the future. Oracle's EPM tools are designed to support institutions amid challenges like campus closures, ensuring better insights and forecasts for informed financial decisions.
- SFSU improved its financial processes significantly with Oracle Cloud EPM, enhancing planning and budgeting accuracy.
- The transition facilitates quick adaptation to economic changes, allowing better strategic planning.
- Scenario modeling capabilities added value by allowing testing of a range of scenarios for informed decision-making.
- None.
REDWOOD SHORES, Calif., Dec. 15, 2020 /PRNewswire/ -- San Francisco State University (SFSU) has successfully moved its financial processes to Oracle Fusion Cloud Enterprise Performance Management (EPM). With Oracle Cloud EPM, SFSU's finance team gains the transparency and flexibility needed for more accurate planning, budgeting, and forecasting. The improved processes will help to increase agility, improve insights and enhance business decision-making across the organization.
"The foundation we've built with Oracle Cloud EPM for our budget processes has enabled us to quickly adapt to unexpected conditions, especially when building budgets and financial plans for the coming years," said Bernice Yeh, senior budget analyst, San Francisco State University. We have been able to model scenarios to increase efficiency, reduce risk, and provide our school leaders with the correct information to allow them to make informed decisions."
Working with Oracle and implementation partner Performance Architects, SFSU moved its financial reporting, analytics, budgeting and forecasting to Oracle EPM Cloud, with the final module going live in November 2020.
"San Francisco State University has been able to take advantage of Oracle's Scenario Modeling, especially in coordination with the rest of the solution," said Tyler Feddersen, EPM director, Performance Architects "SFSU continues to model out scenarios to present to school leaders. Once a path has been decided, the budget process serves as a user-driven answer to the updated target(s)."
Having removed tedious manual processes, SFSU's budget office can now adapt quickly to changing economic conditions with simple and insightful reporting and analytics. Finance leaders also have the ability to boil insights down to position-level detail to more effectively manage employees and optimize budgets. Oracle Cloud EPM's scenario modeling capability enables SFSU to test a range of scenarios and assess potential responses, and build a 10-year strategic plan.
"Higher education organizations are facing a unique challenge, navigating complete or partial campus closures while trying to retain students in an online business model," said Hari Sankar, group vice president of EPM product management, Oracle. "With Oracle Cloud EPM, SFSU's finance team can rapidly report, gain real-time business insights, and accurately forecast revenues and liquidity to make better business decisions. While highly relevant in the current business environment, these capabilities will also improve productivity and ensure the university can quickly respond to future challenges, whatever they may be."
Learn more about Oracle Cloud EPM and Oracle Higher Education products here.
About Performance Architects
Performance Architects partners with clients to design and build solutions that enable significant improvements in their performance. Whether you are considering Analytic or EPM solutions or have an existing implementation, our team of experienced functional and technical consultants can help you leverage the full power of these solutions. To learn more, please go to www.performancearchitects.com or contact us at communications@performancearchitects.com
About San Francisco State University
San Francisco State University (SFSU) is a public university located in San Francisco, California. They are a part of the California State University (CSU) system, which is the largest higher education system in the United States. One of SFSU's missions is to provide broadly accessible higher education for residents of the region and state, as well as the nation and world. To learn more about SFSU, please go to www.sfsu.edu
About Oracle
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
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SOURCE Oracle
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