Brovanture Practice Leader – Financial Close
Oracle Cloud EPM Feb 2024 Update – Important Actions & Considerations
This section of the Oracle Cloud EPM readiness update is often overlooked as many of us just want to see this month’s enhancements. Myself included! However, this section shouldn’t be overlooked, below are some key items in the February 2024 update that may impact your applications!
- Oracle are Upgrading All Non-Hybrid Essbase versions to Hybrid Essbase in the next 3 months. To check if your application is Hybrid enabled, go to Applications > Overview > Activity Reports, as shown in the below screenshot. And follow the link at the bottom of the page to see the information & instructions published by Oracle.
- Discontinuation of Infolets from the 24.04 update – creation of new infolets will be disabled and no longer supported. This is a real shame as Infolets were a great way to display high level detail and embed them on the home screen. However, with the enhancements in Dashboards in recent releases the discontinuation of this feature should not be a significant loss, so if you do have Infolets that are in constant use! it’s time to switch them over to Dashboards.
- Discontinuation of Non-Redwood Themes – this has been talked about for some time now, but Oracle are saying this will be removed towards the end of Q1 so there is not long to switch. Check out this oracle video to see the enhancements you are missing out on by not utilizing the Redwood theme: https://community.oracle.com/customerconnect/events/604505-epm-why-you-should-be-using-the-redwood-theme-in-epm-cloud
- 03 Updates to Substitution Variables and Consolidation Settings – the 2024 March update for Financial Consolidation and Close will be introducing a new module called “Consolidation Settings”. This will phase out the user-created substitution variables, with a migration option for some substitution variables with more plan in future updates.
So, take a break, grab a beverage and read the 24.02 Important Actions & Considerations!
Until next time