Die Qual der Wahl: Kaufen, Bauen oder Partner werden

So you’re looking for a reporting solution for Oracle. Out of the box, Oracle ERPs feature different reporting options like Oracle Financial Reporting Studio and Oracle Business Intelligence Enterprise Edition (OBIEE). However, Oracle’s native reports don’t cover the full gamut of an organization’s reporting needs while OBIEE requires technical expertise to operate and maintain.

As you look for an alternative, where do you start? When faced with different options like building technology from scratch, buying the right tool, or going through a partner, the process can be overwhelming. Here’s your guide to navigating the choice.

Buy

Oracle-driven finance teams are overwhelmed by data. A significant portion of time is wasted with manual processes. Our research shows that some tasks, such as financial system maintenance (43%), management report generation (38%), or audit preparation/support (36%), are highly automated amongst Oracle-driven teams, ​often using tools like Oracle Financial Reporting Studio. However, many other tasks still require a high level of manual effort due to limitations in automation, increasing inefficiencies while running the risk of human error.

Some tasks, such as account reconciliation, ad-hoc custom reports, or data entry, are still conducted manually. The lack of automation exacerbates the burden of time-consuming processes that can’t be automated with Oracle-native reporting tools.

Purchasing financial and operational reporting tools is a direct answer to these challenges. Buying an automated reporting tool allows users to implement a modern, connected reporting environment to Oracle that automates tedious and error-prone processes.

When searching for a tool, look for one that not only covers typically recurring reports, but self-service, ad hoc reporting capabilities as well. That way, you can save time on manual work while answering questions quickly and efficiently, even if that information is only accessible by generating a custom report.

Customized dashboards are also a helpful feature in a reporting solution. Customized dashboards enable you to see regularly updated information straight from Oracle in a way that’s clear to read and communicate to stakeholders. Search for a solution with pre-built business views to make it easier to explore data, solve business problems, and make more informed decisions.

Build

Larger, enterprise businesses have unique needs to fulfill when it comes to financial and operational reporting, many of which are hard to satisfy with an out-of-the-box reporting solution. For these organizations, building a custom solution is an attractive option. Building a reporting solution comes with a slew of benefits, for example:

• Reporting tailored to your organization’s specific needs
• High levels of customizability
• Easy access to organizational data

While building a custom solution ensures that you can tailor a solution to your business use cases, it comes at a significant time and monetary cost. insightsoftware and Hanover Research recently found that nearly half of organizations that build their own analytics devote 40%-59% of their software development budget to building and supporting their custom systems.

This leaves only half of their IT team’s time to dedicate to other value-added tasks, leaving little time for maintaining critical technical infrastructure and reporting requests from the finance team. And finance teams actively seek self-service in their reporting capabilities–in a study of Oracle-based finance teams by insightsoftware and Hanover Research, 78% of Oracle teams felt over-reliant on IT.

While building custom reporting can create a comprehensive system for your Oracle reporting, it is possible to fill even the most specific needs with out-of-the-box reporting software. When searching for a solution, look for one that has features like self-service reporting, effortless integration with Oracle, and simplified reporting that anyone in your team can operate regardless of technical expertise.

Partner

In the search for an Oracle reporting solution, you don’t have to go about it alone. Many organizations go through partners to find the right fit, whether that’s in the form of a single product or a mix of different technologies. Organizations benefit from strategic partnerships–solutions partners can help throughout the buying process and after with continued training and support.

However, this comes with its fair share of challenges, chief among them integration with existing systems. In a recent survey of organizations that purchased financial planning and analysis (FP&A) software through a solutions partner, 99% of organizations relied on their ERP and other systems in tandem, such as customer relationship management and human resources management systems. As such, they need a reporting solution that can work with not only their ERP, but with the other systems they have in place as well.

Buying through multiple partnerships add another layer of complication–whereas 100% found advantages to buying through a partner, 95% found disadvantages to buying through multiple partners.

When buying a reporting solution through a partner, find one where you can purchase a one-stop shop for Oracle reporting. They should excel at tailoring solutions to address your team’s specific business needs, pointing you to technology that can easily integrate with Oracle while giving you a bird’s-eye view of your data. A partner with a knowledgeable sales and technical team can empower your organization with clear communication and expert guidance throughout the process of adopting new technology.

Finding the right reporting solution for Oracle isn’t a cut and dry process–building, buying, and partnerships all come with benefits and challenges. And as the data landscape becomes increasingly more complex as technology continues to evolve, a robust reporting solution for your Oracle ERP becomes even more critical.

insightsoftware’s Reporting for Oracle helps simplify the process. Reporting for Oracle delivers a contextual, process-rich business data model, a library of pre-built, no-code business reports, and a high-performance process analytics engine for Oracle Business Applications, OCA, or EBS.

This integrated solution supports both Excel and your BI solution to help you unlock your organization’s data in the tool that works for you and gain actionable insights to act decisively in an uncertain and quickly changing world.

Ready to learn more? Tune into our on-demand webinar to learn more about navigating the choice to build, buy, or partner.

From Strategy to Success: How to Choose the Right Oracle Reporting Approach

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