Oracle EPM Release Notes October 2024: What’s New?

October 14, 2024

/ Sohaib Zaidi

Oracle rolls out monthly updates to enhance the capabilities of its Enterprise Performance Management (EPM) platform. The latest updates in this series are the October 2024 Oracle EPM Monthly Update. If you’re wondering what new features and capabilities come with these updates, this blog is for you.

We’ll explore the changes occurring across various EPM modules and give you actionable insights to get the most out of this release.

Highlights: What’s New in October 2024 Oracle EPM Release?

Account Reconciliation

• Users can delegate approval or commission responsibilities when the original user is out of office, selecting a Delegate user with similar data access.
• Users can access details in the Unmatched Supported Transactions or Matched In-Transit Transactions dialog by selecting a value from Less Unmatched Supported or Less Matched In-Transit.

Enterprise Data Management

• User and group details are now displayed in the Policy Group column on the Audit Policies screen, allowing for separate popup dialogs for policies with multiple users or groups.
• Custom validations provide additional scopes for evaluating nodes during request item validation, including previous parent, both parents, and parent scopes, evaluating changes to hierarchy viewpoints for every node in the viewpoint.

Planning

• Predictive Cash Forecasting is now available in many languages.
• The OCF_Historical Opening Bank Balance and OCF_Bank Balance are now easier to load, review, and update using new forms and updated templates.

Enterprise Profitability and Cost Management

• EPM Automate now supports Task Manager-related commands such as deploymentTaskManagerTemplate, exportTaskManagerAccessControl, runTaskManagerReport, and setDemoDates.
• Calculation segmentation is now enabled for up to two dimensions in each rule, replacing the previous limit of one dimension.

Financial Consolidation and Close

• Enabling Ownership Management in an application allows for Enhanced Organization by Period, which is not affected by existing applications if it’s already enabled.
• Consolidation Reports now display Year-to-Date journals alongside Periodic journals, if they have been posted in the application.

Want to read Oracle EPM Cloud release notes in details, click here.

Why Is There a Need for Oracle EPM Cloud Monthly Update Testing?

Oracle EPM monthly updates have the potential to affect a variety of functionalities. If you decide to enable a new feature, you must understand how it will affect current business processes and procedures.

It’s possible that a bug repair could negatively affect your business processes or that a new issue could be introduced. Because downstream issues can have a significant impact on operational efficiency, even minor adjustments must be tested.

Learn more: Oracle EPM Testing: The Business Guide

What should you test?

• Test all critical business functions before the patches go into production.
• Test key business process flows for different roles in the organization.
• Critical custom reports and integrations with other applications.
• Custom workflows. (Journal, invoice, PO approval, etc.)
• Automatically available UI and process new features that will apply to you.

Manual testing is simply not practical, considering the frequency of updates, complexity of applications, and variety of interconnections between them. AI test automation is a logical solution for Oracle EPM testing.

Opkey for Oracle EPM Test Automation

Opkey is an official Oracle partner and the industry’s leading No-Code test automation platform. Opkey is the most rated app on the Oracle Cloud Marketplace and a trusted ally for Oracle customers. This AI-enabled, No-Code test automation provides pre-built tests that reduce the time it takes to complete regression testing each month.

Organizations can enjoy risk-free EPM updates with Opkey.

Sohaib Zaidi

Technical Content Writer

Sohaib is a technology enthusiast and a passionate writer with vast experience in technical niches like IoT, AI, Cloud Computing, ERP, SaaS Software & Business Intelligence. Sohaib loves to create compelling and communicative sales copies that create great impact on the minds of the readers.