Measuring, managing, and tracking Sustainability initiatives
Cloud technology giant Oracle has unveiled its latest offering, Oracle Cloud EPM for Sustainability. This innovative solution is designed to assist organizations in measuring, managing, and tracking sustainability initiatives while ensuring compliance with evolving sustainability reporting standards.
Streamlining Environmental Data Management
Oracle’s new solution aims to tackle the complexity of managing environmental data, which often originates from various sources across different business units and partners. Traditionally, organizations have needed help with manual consolidation using spreadsheets, leading to inefficiencies and errors. With Oracle Cloud EPM for Sustainability, businesses can streamline data collection and analysis, leveraging Oracle’s robust workflow systems and AI-powered tools.
Key Features and Functionality
The Oracle Cloud EPM for Sustainability boasts a range of powerful features, including:
– Data collection from diverse sources with structured accounts following IFRS, ESRS (CSRD), and GRI standards.
– Embedded scenario modeling for enhanced risk and opportunity assessment.
– AI-driven insights and automated anomaly detection.
– Self-service capabilities for data filtering, sorting, and visualization.
– Purpose-built dashboards and automated analysis.
– Predictive planning for forecasting and performance prediction.
– Alignment with relevant reporting standards and production of stakeholder reports.
Hari Sankar, Group Vice President of Product Management at Oracle, emphasized the importance of treating sustainability reporting with the same rigor as financial reporting. He highlighted Oracle Cloud EPM for Sustainability as a trusted solution that leverages advanced technologies to enhance efficiency, deliver insights, ensure compliance, and effectively manage progress on sustainability initiatives.
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