Axiom Software by Syntellis Performance Solutions vs. Oracle Fusion Cloud Enterprise Performance Management

Axiom is ideal for organizations with multiple departments that need to collect, share, and integrate data from common internal data sources. The product is best for very large organizations with a lot of financial backing. I wouldn't suggest using Axiom if you're a small organization or only one department, for example.

Incentivized

It is well suited in a geographically distributed environment where you have various key participants in multiple time zones providing input and necessary explanations on performance and measured success It is less appropriate where you have a single office environment with a single finance department working together. It is also less suited when the GL is NOT an Oracle product and the interface between the GL and the reporting software needs to be implemented with utmost care and handling.

Incentivized

• Extremely flexible and dynamic allowing for customizations that align with our business needs
• The database structure within Axiom allows us to create custom tables for adhoc data analysis
• The processing time of Axiom (daily imports, monthly imports, Budgeting processes) are extremely favorable allowing us to cut our budget cycle time in half compared to our previous system.

Incentivized

• Account Reconciliation CLoud Services provides tight integration with Oracle R12 and 11i . Provides drillback capability. It is flexible and provides rich functionality to users.
• We have implemented ARCS on cloud and migrated planning and budgeting from On premise to PBCS and EPBCS. Functionality is onpar with onpremise. Provides regular updates monthly
• We don't need to upgrades every year and saved a lot on Hardware.

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• Implementation is quite Complex and requires both IT and Financial buy-in
• Reporting solution has some learning curve for end users
• Calculation methods within reporting can be opaque and hard to trace

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• Our implementation consultant set up all the business rules for calculations to get us live, and we may have difficulty setting up new ones going forward. We feel like that we now need to hire someone who has the technical knowledge to help us to manage the system going forward.

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We have a pretty good userbase who are at the high level who gained value from this tool. Discontinuing this tool is prone to impact their day to day operations. Also the data in this tool cannot alter the source, which maintains the integrity of this tool. Smartview is a cool addition that gained lot of traction as well.

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It produces consolidated multi currency reports faster and more accurately whilst adding additional pivotal functionality. The Smartview reporting is a key for us and a flagstone of the application

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EPM has been so far available all the time

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The product performance is so far very good

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For the scale of our implementation, Axiom only assigned two consultants who were both completely new to the company. It felt like we were all learning about the product together, when you would expect them to already be experts at their own product. The team also made a good bit of mistakes throughout production and go-live, which then caused more work internally for us. The team lead for our project also just left the company, so we'll see how next year's planning goes

Incentivized

Support from our implementation partner is a 10/10, but support from Oracle is awful. Case in point: recently over a 2-day period, there were a series of intermittent outages. Oracle actually asked US for the outage time-stamps. I would have thought that, since we were paying them, they should probably be able to tell us!

Incentivized

The biggest key is data validation time. If you are implementing a new chart of accounts along with Oracle Financial Consolidation and Close Cloud, you need to multiply the time you think you can perform data validation by 2. The key to managing your project timeline is managing your expectations around data validation as well. For instance, it is recommended you convert 1-3 years vs. 5 years.

Incentivized

The only other system I have worked with was the Fiserv MPC product, which is what we had Axiom replace. The Fiserv MPC product does not even come close to the functionality of Axiom. For our Budget, we would have to run an Excel Macro in Fiserv MPC overnight which took about 8 hours to process in order for us to to see the results of the inputs we did the previous day. With Axiom, the non-margin items (Non-Interest Expense, Non-Interest Income) are real time - as soon as you click Save, the data is available. On the Cash Flow Margin side (Loans & Deposits), it takes about 5 minutes to fully process in Axiom approx. 30,000 records, which is extremely favorable.

Incentivized

Oracle Planning and Budgeting Cloud is one of the more robust and well-rounded EPMs on the market. It comes with robust out-of-the-box functionality which is a great benefit in comparison to its peers. The Excel integration is also top notch which Financial Analysts really appreciate. Cost is a little high and maintenance is a bit heaver than other tools so that is something to consider. The product keeps improving!

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The product is scalable

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• Forecasting has improved
• Complexity of analysis has improved as well
• Our main data has been confused as we started using Axiom

• Significantly reduced the amount of money we spent for the maintenance of in-house hardware.
• We now need less employees to manage the configurations of Oracle EPM Cloud.
• There have been many time savings as a whole to apply to more productive causes.

Incentivized