Oracle Financials Cloud Modernize Finance

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2 Introduction Introduction Cloud computing is a vision that is increasingly turning into reality for many companies. Enterprises, both small and big, are evaluating cloud computing and moving their IT infrastructure to the cloud. Visionary finance leaders view technology as a service. The service must be flexible, secure, reliable, scalable, and available from anywhere, any device, and at any time all while it lowers costs and minimizes integration complexity. Today s business users have higher expectations for a more modern, consumer-like experience; therefore, modern business applications need to deliver a level of user experience 76% of business managers surveyed around the globe said their top motivation for adopting cloud or SaaS applications was to have a quick way to get the software they wanted. Dynamic Markets Cloud Report and excitement that can drive greater value for the organization. Today s business applications must be intelligent, information-driven, social, and mobile, while providing actionable insight that drives collaboration within secure business processes. Oracle has leveraged its vast applications experience to empower modern finance to: your financial business processes and technology requirements your decision making with realtime information access with others using social business objects your costs with increased visibility 2

3 Introduction Oracle combines the best of the best capabilities across Oracle s financial solutions to deliver a comprehensive solution that arms finance professionals with the right information at the right time, increases productivity, and accelerates business performance. It streamlines and automates the following transaction processes so your finance department can concentrate on strategic initiatives: General Ledger Assets Employee Expenses Multi-Currency/Multi-GAAP Payables Cash Management Invoice Imaging Consolidation Receivables Collections Intercompany Processing Reconciliation Oracle offers extensive spreadsheet integration across multiple business processes to allow accountants to work efficiently in the environment that they prefer. For example, accountants can enter journals, supplier invoices, expense reports, assets, customer receipts, and perform financial reporting and analysis all from a spreadsheet. Oracle Fusion Expenses allows workers to quickly enter expense reports anytime and anywhere with multiple entry options, including simplified spreadsheets and mobile entry for the iphone and Android. Oracle Fusion Expenses also supports corporate card transactions, electronic image processing for expedited reimbursements, and an integrated travel solution to provide better cost control and policy compliance. Oracle Fusion Payables supports out-of-the-box invoice imaging integration to simplify invoice entry. Supplier invoices can be scanned with intelligent document recognition and then completed, matched, paid, and posted to the general ledger without any user intervention. Watch Oracle Mobile Expenses 3

4 Introduction your decision making with real-time information access. Role-based dashboards deliver information from multiple work areas, worklists, and watch lists that serve as centralized cockpits to manage key accounting activities. They proactively monitor processes, raise exceptions, and push work to users. Instead of running multiple queries or identifying tasks, users simply need to log into their dashboards and work areas to see what they need to do that day. Oracle improves decision support by making the system more intelligent. Intelligence and analytics have been embedded within the context of a business transaction to help users complete their task. In some cases, the system offers suggestions or recommendations, and in other cases, it offers intelligence that predicts future outcomes. For example, before you post a journal, we let you know the impact it has on the account balance. You don t need to navigate away to different pages to search for and then compile the information. So, you can make smarter decisions faster and stay focused longer on tasks. Oracle s unique reporting platform is natively built on top of a multidimensional data model. You can store large quantities of data that can be accessed rapidly and run financial statements that are both boardroom-ready and highly interactive. The focus on financial performance creates pressure for faster closes. The Close Monitor brings information into a single place so that you can monitor close status across ledgers and subledgers to help you close your books faster. Watch Close Monitor in Fusion Financials Video 4

5 Introduction Sharing and providing additional information is often critical to completing a business process. In a modern organization, effective collaboration is more important than ever to support geographically-dispersed workers. Across all business processes, Oracle provides contextual actions that push a participant s contact contact information to you. YYou can contact employees and suppliers for questionable transactions, and collaborate with them in real-time via instant message, , or phone. Oracle Social Network provides contextual, realtime collaboration embedded into your business processes, making it easy to involve the right people in the right decisions at the right time. A conversation is tied to a specific business object so that each discussion is targeted to the appropriate participants for a particular transaction. It is easy for anyone to participate whenever and wherever is convenient with Oracle Social Network s mobile application. If you need to share additional information, you can add, review, and annotate attachments. The conversation log is always available for retrieval, review, and audit from the business object. During the financial review process, reviewers can read your annotations to your financial reports. Watch Oracle Social Network in Financials Video 5

6 Introduction Oracle Financials Cloud Service helps you control costs in multiple ways. The Rapid Implementation spreadsheets provide predefined, guided lists of tasks to give end-to-end visibility to all setup requirements. You will be able to implement Oracle Applications by business process, product, and feature. You will be able to copy setup data across database instances, such as from a development instance to a production instance. This allows you to achieve a fast ROI (Return on Investment) and save on implementation costs. 6 Using SmartReceipts, if a customer receipt cannot be automatically applied by the system, then the system offers matching recommendations, based on the rules you define, to intelligently apply the receipt against the invoice. The system keeps track of past reasons why receipts were not automatically applied to improve the hit rate of automatic receipt applications in the future. Oracle s mobile reporting support makes it easy to access information from your tablet or desktop. The simplified interface for mobile support leverages the Essbase cube to support multidimensional analysis and reporting capabilities. Additionally, the new Sunburst visualization tool allows you to interact with your account balances across various business dimensions to view balances from different perspectives. Based on your selections, you can quickly identify problem areas that might not have been obvious by just looking at numbers. For example, you can view quarterly regional sales and identify sales trends that are visually represented by size and color to indicate whether that region s sales increased or decreased over the quarter. Click image to enlarge

7 Introduction Oracle offers a flexible approach to system adoption allowing you to adopt Oracle Financials Cloud in an evolutionary manner at a pace you are comfortable with. Oracle Accounting Hub Reporting Cloud provides exceptional reporting and analytics on top of your existing general ledger systems with minimal implementation effort and disruption to your current financial management processes. The tight integration with Oracle R12 E-Business Suite continuously streams balances from its general ledgers to the Accounting Hub Reporting Cloud Service, with complete drill-downs to the E-Business Suite detail balances, journal lines, and subledger transactions. Oracle Revenue Management Cloud Service enables E-Business Suite customers to manage revenue compliance, configure and automate revenue scheduling to meet complex revenue recognition rules, and to automate revenue reallocation for multiple-element arrangements based on fair-market value, such as Vendor Specific Object Evidence (VSOE), Third Party Evidence (TPE), or Best Estimate of Selling Price (BESP). 7

8 Introduction Oracle Financials Cloud Service offers an integrated financial management suite that is designed to automate, streamline, and control an organization s financial management processes end to end. Oracle has the broadest cloud portfolio in the industry, delivering a complete range of productionlevel, cross-functional business applications for each part of your organization. Oracle applications support 23 languages and multiple industries and geographies. Business users have the latest innovations at their fingertips across sales and marketing, customer service, finance and accounting, supply chain management, human capital and talent management all enriched with social engagement and collaboration tools and an intuitive user interface that works on any mobile device. These applications have been architected on a modern and open service-oriented platform to simplify integration needs and lower an organization s total cost of ownership. 8

9 Introduction 9 To learn more about how Oracle Financials Cloud can help empower modern finance and help you simplify your business process, accelerate your decision making, enable collaboration with social business objects, and control your costs, visit: Oracle Financial Cloud Service online or call to speak with an Oracle representative. Learn More: Oracle Financial Cloud Documentation Oracle Applications Customer Connect Community

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