Oracle Fusion Financials

Oracle Fusion Financials is a modular suite of financial applications designed to work as a complete financial solution or as modular extensions to your existing financial applications portfolio.

Oracle Financials Cloud is for organizations of all sizes who want to thrive in the digital economy. Oracle Financials Cloud provides the insight you need to refine your business model, respond to competitive opportunities, and become an agile finance team.

Financials Cloud Products

1. Financials

Oracle Financials include the following key modules:

☛   General Ledger

☛   Intercompany Accounting

☛   Payables

☛   Receivables

☛   Payments

☛   Cash Management

☛   Tax

☛   Expenses

☛   Assets

Use these applications with their integrated social networking tools, business intelligence, compliance reporting, and mobile data access to facilitate:

☛   Financial accounting

☛   Transaction processing

☛   Payment delivery

☛   Cash reconciliation

☛   Employee expense processing

☛   Asset management

The configuration process considers business units that will be required and provides for all the subledgers (AR, AP, Fixed Assets, projects, etc.) to be tracked by business units, and legal entities. Inter-company transactions, if any, can be set up and configured to provide online tracking and balancing of intercompany transactions in multiple legal entities, business units and multiple currencies.

Oracle Cloud Financials has been designed for ease of use from three perspectives:

☛   Ease of configuration, update and maintenance.

☛   Data import for master data and transactional data through macro enabled excel spreadsheets, and other file based import technologies

☛   Automated generation of security enabled roles across legal entities and business units

2. Revenue Management

Oracle Revenue Management Cloud is an application that enables you to manage customer contracts and performance obligations easily to help you address the mandates of the new accounting guidance. Oracle Revenue Management Cloud is part of Oracle Enterprise Resource Planning Cloud and has the capability to co-exist with any source application. The product is integrated with both Oracle Financials Cloud and with Oracle E-Business Suite. Robust integration is available with third party applications. Integrated data includes sales orders, service contracts, projects, sales invoices, and other relevant sales and fulfillment data. Data from the various source systems is processed and managed centrally in Oracle Revenue Management Cloud.

Key Business Benefits:

☛   Easily adopt, implement, and comply with ASC 606 and IFRS 15

☛   Automate the ASC 606 and IFRS 15 processes, increasing productivity, and reducing risk of error

☛   Review contract exceptions to ensure best-practice compliance and consistency

☛   Enhance the user experience and improve efficiency with productivity tools

Revenue Management

Oracle Revenue Management Cloud Financials Architecture Overview

3. Accounting Hub cloud

Extend the Value of Existing Investments Oracle Applications can exist together with legacy applications or with Oracle Applications Cloud. Oracle Applications Cloud is designed to work alongside both non Oracle and Oracle systems without forcing customers to perform a full-scale upgrade. A great example of this strategy is Oracle Accounting Hub Reporting Cloud. Oracle Accounting Hub Reporting Cloud transforms information access to increase insight and improve business decisions, providing accurate and reliable information faster and more efficiently to both internal and external decision makers. Accounting Hub Reporting Cloud supports all financial reporting and analysis needs from a single system.

Key Business Benefits:

☛   Fast, simple cloud deployment automatically creates reporting hierarchies and sample reports based on existing accounting setup in Oracle E-Business Suite

☛   Stream account balances to the cloud for near-instant financial analysis and decision support

☛   Access the latest financial data in a highly interactive environment

☛   Powerful capabilities to roll-up, drilldown, slice-and-dice, and pivot data for fast and intuitive analysis

☛   Self-service access to reports any time

☛   Real-time notifications of anomalies in account balances

☛   Intuitive audits of general ledger balances with journal details

Oracle Accounting Hub Reporting Cloud

Accounting Hub Reporting Cloud integration with E-Business Suite General Ledger

Protect and Extend Your Existing Applications

Oracle Fusion Financials is designed to work with other Oracle Fusion Applications and your existing applications portfolio, such as Oracle E-Business Suite and Oracle’s PeopleSoft applications, to evolve your business to a new standard of performance. An example of this design philosophy is Oracle Fusion Accounting Hub, which allows you to marry the innovations in Oracle Fusion Financials with your existing investments with minimal implementation effort and disruption to your financial processes. Oracle Fusion Accounting Hub integrates with third-party feeder systems from diverse industry applications. Oracle Fusion Accounting Hub allows you to simultaneously meet diverse corporate, management, and reporting requirements, such as U.S. GAAP, IFRS, and local statutory requirements. Oracle Fusion Accounting Hub contains many of the innovations in Oracle Fusion Financials, such as role based dashboards, state-of-the-art reporting and analytics, spreadsheet integration, a robust allocation engine, and the invaluable capabilities of Oracle Fusion Middleware.

Additional Business Value for Your Existing Applications

Oracle Fusion Financials is designed to work side by side with other Oracle Fusion Applications. Oracle Fusion Accounting Hub provides an opportunity to leverage the information access capabilities of Oracle Fusion Financials while keeping your existing portfolio in place. Oracle Fusion Accounting Hub allows you to aggregate data from any multiple-general-ledger environment—whether Oracle or non-Oracle.