Enterprise Data Management Cloud Service(EDMCS)

EDMCS(Enterprise Data Management Cloud Service) is Oracle’s Master Data Management Solution in the Oracle Cloud. It’s a Software-as-a-Service (SaaS) product, like many of their other EPM cloud offerings (FCCS, PBCS, EPBCS, ARCS, etc.).

1. Features

• Improved financial management: ERP Finance systems streamline financial processes, automate workflows, and provide real-time visibility into financial performance, allowing organizations to better manage their finances.
• Increased accuracy: ERP Finance systems reduce errors and improve accuracy by automating financial processes and providing accurate data in real time.
• Better decision-making: ERP Finance systems provide accurate and up-to-date financial information, allowing organizations to make informed decisions based on reliable data.
• Increased efficiency: By automating financial processes, ERP Finance systems increase efficiency, reduce manual labor, and enable employees to focus on higher-value activities.
• Improved compliance: ERP Finance systems help organizations comply with regulatory requirements and internal controls, reducing the risk of non-compliance and associated penalties.
• Better forecasting and budgeting: ERP Finance systems provide tools for budgeting and forecasting, enabling organizations to better plan and make informed decisions.

2. Benefits

• One of the most obvious returns on investment provided by an EDM solution is the increase of data accuracy throughout the organization.
• When EDM is put into place, and the structures throughout an organization are consistent and maintained centrally – reports and data values will also fall in line.
• The main benefit of increased data accuracy is really the informed business decisions that result from accurate financial reports.
• Lastly, reduced auditing and change in reporting costs are also realized by implementing an EDM solution.