You need solutions that work seamlessly and simplify your existing business process flows. Oracle has created a modern user experience where processes and tasks are simplified for all users by leveraging intuitive user interfaces, robust integration, embedded intelligence within the applications, and collaborative features that support your workflows.
Oracle delivers an intuitive user interface that provides real-time information about common financial activities, pinpoints issues that require attention, and helps you prioritize your day-to-day activities. The simple configuration lets your users focus on strategic initiatives and offer insights into the internal and external business environment. Users can quickly identify underperforming lines of business and areas with excessive expenses and perform cash flow projections to help them expand into new geographies or lines of business. Pages are configurable and support easy drill-downs to underlying transactions, reports, and application functions that quickly help you gain additional insight and resolve problems.
Supplier invoice entry should be completely touchless . You can scan invoices with intelligent document recognition, which are completed, matched, approved, paid, and posted to the general ledger without user intervention.
This allows you to:
Companies are pressured to analyze and deliver results more quickly and accurately than ever before. Oracle’s unique reporting platform provides accurate and timely information to help you make better business decisions. Your balances are multidimensional. When you post transactions, your balances are aggregated at every possible point of summarization across your date-effective hierarchies, ensuring immediate access to financial data and eliminating the need for an external data warehouse.
Large quantities of data can be accessed and analyzed rapidly on any device. Financial statements are both boardroom ready and highly interactive. The Sunburst reporting tool allows you to analyze account balances across business dimensions and easily visualize trends represented by size and color. Oracle Financials Cloud reporting gives you the industry’s best tools to analyze your data in real time, anywhere, and on any device.
You want solutions that adapt to how your organization and its people work. Oracle Financials Cloud provides standardized business processes tailored to industry needs and business process flows.
Oracle’s approach to shared services is to standardize business processes across global operations, centralize and consolidate functions and systems, and automate everywhere to reduce rework and errors. Centralized payments in Payables and Receivables allow a single business unit to consolidate supplier or customer payments for multiple business units, thereby reducing costs and increasing operational efficiency.
Oracle Cloud Applications support 24 languages in more than 50 countries. Oracle’s globalization support enables you to process and retrieve data in native languages. Database utilities, error messages, date, time, and monetary conventions automatically adapt to any native language and locale. Whether tracking your procurement operations or managing sales, Oracle offers end-to-end automation to connect the many business functions required to optimize and streamline your business.
Complete Process Management
For companies that are process-oriented and global, optimizing the global supply chain is a priority. Integrating Oracle Supply Chain Management Cloud and Oracle Financials Cloud ensures accurate accounting of orders, inventory, manufacturing, and fulfillment activities. The integrated solution supports direct material processes across demand and supply planning, forecasting, purchasing, production, inventory, receiving, shipping, and invoice processing to complete the entire order to cash, procure to pay, and plan to produce cycles.
Industry Tailored Solutions
Oracle delivers effective solutions to meet your industry-specific requirements.
Public Sector, Higher Education, and Research
Budgetary Control and Encumbrance Accounting enable organizations to control spending at any budget level or time interval. Operational users who enter transactions can easily observe the status of budget checks and reservations online. Intuitive error messages and warnings enable them to identify and resolve exceptions quickly. Budget managers can easily monitor consumption rates and view budget, commitment, obligation, expenditure, and funds available balances and supporting transactions in a single view.
Technology and Communications
Organizations need the confidence that reported revenue is materially accurate. Oracle’s Revenue Management Cloud Service simplifies revenue accounting with robust automation, audit, and control capabilities for compliance with the latest revenue recognition accounting standards.
For Financial Services industries that require average balance sheets to meet regulatory requirements, General Ledger can track average and end-of-day balances, report average balance sheets and create custom reports using both standard and average balances. Both standard and average balances are stored in the multidimensional data model that is automatically synchronized to allow you to quickly analyze and report daily, monthly, quarterly, and yearly on average balances.
Project-centric companies, such as professional services, will benefit from integrating Oracle Financials Cloud and Project Portfolio Management Cloud. Project delivery is accelerated, profitability is increased through standardized project cost control, integrated time and expense capture, streamlined project contract compliance, revenue recognition, and timely project billing.
Control is a critical element of any financial solution. Not only do you need to control your costs, but you also need to control your financial processes and security to manage risk and validate that your internal controls are robust. Oracle Financials Cloud helps ensure strong internal controls and enhances risk management in multiple ways.
Controlling who can access specific functions and data is critical for any software deployment. Unauthorized access can lead to deliberate or inadvertent fraud. Oracle Financials Cloud delivers a robust, pervasive security model across all levels: the application, middleware, and database. All delivered job roles leverage role-based access control combined with segregation of duty policies that determine which functions and data a job role can access.
Controlling cash balances and accurately forecasting cash positions is made simple with Cash Management. The cash management dashboard pinpoints issues related to bank account balances, missing bank statements, unreconciled statement lines and transactions, and cash forecasts. You can anticipate short-term cash requirements and reduce liquidity risk by viewing the 5-day cash forecast across all your legal entities. You can also transfer balances between banks to take immediate action to address any shortfall.
Oracle Assets simplifies fixed asset accounting with automated asset management. Standard management tasks, such as asset additions, asset transfers, disposals, reclassifications, financial adjustments, impairments, revaluations, retirements, and legacy data conversions, can be streamlined with automated business flows. You can also take physical counts of your asset inventory and load them in a spreadsheet; the system then reconciles the results of this file against the actual data and recommends the necessary actions to ensure the accuracy and control of your fixed assets.
Staying on top of overdue invoices can make or break profitability for many organizations. Oracle Advanced Collections’ metrics provide the ability to measure and view the performance of your collections activities at various levels. It uses industry-standard formulas to measure and calculate these metrics’ current and historical performance.
Achieving the right balance of control and agility starts with laying a foundation of audit-ready Financials Cloud processes and configurations. It then comes to life when you activate Oracle’s integrated Risk Management Cloud. Automate and streamline the labor-intensive process of documenting and assessing business practices to satisfy your financial reporting compliance regulations, such as Sarbanes-Oxley and equivalent laws worldwide. Then add advanced financial controls that automatically identify unusual transactions, help you predict unanticipated risks, and demonstrate control effectiveness.
Planning and Budgeting
Proactively monitoring and controlling spending requires discipline and robust processes. Oracle Planning and Budgeting Cloud are integrated with Oracle Financials Cloud to provide a complete solution to enforce closed-loop processes for planning, budgeting, transacting, and measuring budget versus actual results. You can load high volumes of budget and planning data from legacy or third-party applications to Oracle Planning and Budgeting Cloud Service and then report on budgets versus actual balances from there or in Oracle Financials Cloud.
Creating visibility into direct and indirect spending across global accounts helps identify consolidation and cost-reduction opportunities. Oracle Financials Cloud integrates with ERP Analytics Cloud and Spend Analytics to help provide transparency and better decision-making across finance, operations, and procurement.
Oracle Financials Cloud offers robust, standardized business processes that are highly automated, but what happens when exceptions occur, and you need immediate assistance? Email is not effective when you need to resolve issues quickly.
Oracle Financials Cloud provides embedded collaboration throughout all business processes within the context of a specific transaction or report. Collaboration with approvers of supplier invoices, expense reports, journals, etc., to expedite approvals is made simple. You can communicate with your finance team in real time from your desktop or mobile device to resolve close issues during the time-sensitive close process.
Embedded collaboration makes it easy to involve the right people in the right decisions at the right time to resolve exceptions in real-time.
Oracle Finance Cloud offers real-time collaboration anytime, anywhere.
Discuss the contents of a report or transaction and promote teamwork during the review process.
Produce and review critical content in a shared environment with powerful web-ased document viewing and annotation n anytime, anywhere.
Oracle Financials Cloud provides seamless integration across business processes, but you may need to integrate with your existing systems or extend Oracle Financials Cloud to suit your needs.
External web services allow you to load data from external sources and third-party applications using pre-defined templates to load data files into the application tables in Oracle Financials Cloud.
Oracle Financials Cloud can also be extended to work with the business applications and professional services offered on Oracle Cloud Marketplace’s online store. All applications and services delivered are created by expert Oracle Partners and approved by Oracle.