Enterprise software powerhouse Oracle has entered the market for turning strategic plans into financial reality with its acquisition of software firm Interlace Systems for an undisclosed sum.
Oracle says the combination of its enterprise performance management system with Interlace Systems’ technology will provide a common perspective across financial and strategic planning by creating an integrated business planning framework.
Interlace’s software uses a change-based data modelling server, connecting operational plans in an integrated model and allow business planners across functions to rapidly change operational assumptions, re-evaluate scenarios, assess business impact and update the plan of record.
“In today’s global economy, organisations need a streamlined planning process that links strategic operational plans to the financial plan of record,” said Thomas Kurian, Oracle senior vice-president, server technologies.
“The combination of Interlace Systems and Oracle will help enable business planners to rapidly evaluate the impact of changes to business assumptions across all plans and benefit from flexibility, speed, integrity, and accuracy, typically not found in traditional spreadsheet-based and function-specific planning solutions.”
The transaction is subject to conditions and expected to close next month.
By John Kennedy
