Companies are moving application workloads to the cloud at an unprecedented rate. Some of this, of course, is due to the fact that cloud-powered applications can run faster and cheaper than their on-premise predecessors. In fact, according to LogicMonitor, 83 percent of enterprise workloads will be in the cloud by next year.
There’s certainly attraction to the cloud. Using a cloud database deployment translates to scalability, elasticity, agility, and a faster time to value.
But migrating to the cloud is another story altogether. Not only a daunting task, sometimes the nuances of the move can add up to prove more costly overall. Secondly, companies need to consider whether the new cloud capabilities are a good value for the money. Is it really the best investment to pay for more features or broader included content if you’re not even going to use all of it? In other cases, you may end up paying for less content and functionality as compared to legacy on-premises siblings. And neither is an attractive option.
Not Everyone Loves the Cloud
This is a conundrum facing many Oracle Hyperion users as Oracle switches gears and focuses all future innovation into their cloud-based EPM services. While Oracle has pledged to support its suite of Hyperion EPM products until 2030, clearly they will push their customers to move from Hyperion sooner than later and upgrade to their Applications Unlimited or Cloud Enterprise packages instead.
Except not everyone is ready to move to the cloud, Oracle or otherwise. According to a survey by Rimini Street, only 27 percent of those surveyed said they would move to Oracle Cloud. In fact, 4 out of 5 respondents also said they either weren’t sure or flat out wouldn’t replace their on-premises Oracle software with cloud. Cited reasons included no justifiable business case, expense, and migration disruption.
Yet even staying on-premises longer isn’t a perfect option, either. Aside from only being supported for another ten years, staying on legacy Oracle Hyperion software also means paying up to—and in many cases, more than—20 percent maintenance on software assets for fewer and fewer new releases, and little maintenance or support.
Oracle EPM customers could be forgiven for feeling they are between a rock and a hard place.
Fortunately, there’s another option.
Clearing the Clouds with CXO Software
Moving from on-premise Hyperion to an Oracle Cloud solution solves the Hyperion support expiration issue, but at what cost? If your business isn’t ready for a cloud migration or isn’t yet able to add the bigger price tag to the budget, alternatives such as insightsoftware’s EPM reporting solution—CXO Software—can help you reduce close time and manage planning and budgeting processes. All things Oracle’s Applications Unlimited can accomplish, but without a cloud migration, and at a fraction of the investment.
With CXO Software, Oracle EPM users have access to an award-winning reporting solution without having to invest into the Oracle Cloud before they’re ready. The EPM reporting tool from insightsoftware complements and seamlessly integrates with Hyperion HFM and Essbase, enabling existing customers to stick with their on-premises solutions until they are ready to move to the cloud.
CXO Software customers enjoy superior reporting today, helping them to finally realize the full value of their EPM data. They are able to present financial information the way a CFO or CEO would want to look at it. They can replace dull, outdated, static PDF board reports with interactive board packs that enable executives to get the answers they need in a fraction of the time. Plus, CXO Software comes loaded with pre-built best-practice reporting templates that will get you up and running in no time.
Keep in mind that there are several ways to move from on-premises to the cloud; Oracle isn’t the only way. But if a complete migration to a new cloud-based EPM is out of your scope, budget, and desire, and Oracle’s cloud solutions aren’t quite striking a chord yet, consider adding CXO Software to your Oracle Hyperion on-premises EPM solution as an alternative. And since CXO Software also connects to Oracle’s EPM Cloud solutions, along with other leading Cloud EPM vendors such as Tagetik and OneStream, when you’re ready to move to the Cloud, CXO Software easily moves across with you.
Talk with one of our experts today and find out how CXO Software can be the right EPM reporting solution for you with a FREE DEMO.