By Steve Davis
December 26th, 2017
Oracle’s Enterprise Data Management Cloud Service (EDMCS) is another master data management tool much like DRM (Data Relationship Management), however, EDMCS is in the cloud. EDMCS offers a different take on data/hierarchy management: it moves away from the notion of a single version of the truth and instead EDMCS focuses on bringing source data “as is” from the individual applications and leaves off the cleansing and mastering. Finance teams need to pivot quickly when potential challenges or opportunities arise. EDMCS is designed to accommodate this need.
Oracle Data Relationship Management (DRM)has long been the recommended tool of choice for organizing the financial views of financial chart of accounts, cost centers and legal entities that are then used to govern on-going financial management and consolidations for companies. The beauty of DRM is that it offers one place to manage all of your metadata. A single source of truth is the phrase always associated with DRM. As companies begin to move financial operations to the cloud, DRM will operate as normal—i.e., you can set up your applications in the way that best suits the department, needs, and/or function, and DRM will manage it.
EDMCS or DRM?
It shouldn’t come as a surprise that many of today’s biggest trends focus on technology. When it comes to master data management, the questions you need to ask is: Where does master data management fit into our cloud strategy? Your organization’s master data management needs now and in the future, will determine if you can work with the limited options EDMCS currently offers while you wait for the planned improvements, or do you want the robustness of a mature tool?
In its nascent state, EDMCS is not yet mature enough to replace DRM. That said, there are some interesting features promised in EDMCS like, will have pre-configured connectors to other EPM SaaS products like PBCS, ePBCS, and FCCS, built-in validations that are tied to apps that will be integrated with EDMCS out-of-the-box (Note that Oracle has not indicated what validations are to be included), and configurable views that will let users configure views of master data they want to see. Oracle is not including DRG workflow in release 1. It’s on an Oracle Roadmap but without any release dates or details on what the governance methodology will look like.
DRM remains as the reliable metadata management workhorse. It offers one place to manage all master data and reliable data relationship governance for applications on-premise and in the cloud. Currently, Oracle is not making many improvements to DRM but they still have some things on the roadmap for DRM.
Realistically, when comparing the two applications, based on the development timeline provided by Oracle, it will be about five years before EDMCS is as robust as DRM today. Ultimately, EDMCS will exceed the features and functionality DRM offers, providing a far more flexible application that aligns with the fast pace of changing business needs and the evolution of technology.
Currently, we are in a transition period between applications. Where master data management fit into your cloud strategy will be the determining factor for which application is best for you.