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Part of Oracle Fusion Applications, Oracle Fusion Financials is a 100 percent open, standards-based set of integrated financials modules that is much more than just another financial application. Most traditional financial systems consider decision support and intelligence as an afterthought. Oracle Fusion Financials, on the other hand, delivers unprecedented business insight to all users. Its revolutionary reporting platform and native business intelligence set the new standard for finance and fundamentally change the way finance professionals work.
There are reporting needs of a CFO will greatly differ from a financial analyst. Within the finance organization reporting needs will vary. The CFO needs professional quality financial statements, financial analysts need to analyze ledger balances, and other users need to perform ad hoc transactional queries. A common complaint from all these professionals is that the data is dispersed across multiple sources and is outdated, inaccurate, and time consuming to gather.
Oracle Fusion Financials delivers a state-of-the-art reporting platform that is natively built on top of an analytic data model. Single-step posting from transactions to the analytic data model ensures consistent, timely, and accurate information for both management and external reporting. Since all reports work off the same datasource and support drill-downs to live source transactions, all your reporting needs will be met. All queries and reports are accurate up to the minute, providing multidimensional analysis without the need for a separate data warehouse.
With Oracle Fusion Financials accessing information and creating reports no longer requires users to depend on IT involvement to create queries. Finance users can gain access to live financial reports and report snapshots through a secure, self-service reporting center. Other users can easily create their own ad hoc transactional queries using predefined business views that use common nusiness language specifically designed for nontechnical users to understand.
Result: Live access to information how and when users need it.
Finance users, especially those doing heads-down data entry, often have limited information to complete transactions. Studies show that users can waste up to 25 percent of their day searching for data, and companies can spend the equivalent of 10 percent of salary expenses on employees performing ineffective searches.
Oracle Fusion Financials reduces time wasted on ineffective searches by arming users with the precise information they need at the right time. Role-based dashboards consolidate information from a variety of sources. These dashboards will proactively monitor processes and push exceptions to various finance roles so they can take immediate action. Users know exactly what they need to do just by logging in. With Oracle Fusion Financials, the system does more of the thinking for you by providing real-time intelligence within the context of a business transaction to guide your decisions.
Result: Better decision-making by all users.
Finance organizations are constantly trying to find ways to be more productive and to do more with less. Unfortunately, transaction processing still dominates much of finance’s workload. Oracle Fusion Financials dramatically lowers the costs of resource-intensive tasks. Native spreadsheet technology provides a natural extension to transactional entry to support high-volume data entry across most finance functions. Innovative out-of-the-box imaging integration dramatically improves invoice processing and eliminates the need for costly third-party solutions. In addition, Oracle Fusion Financials is designed to work the way finance users work on a daily basis. All pages are configurable and optimized for the most productive user experience.
Result: Less time spent on menial tasks and more time on value-added activities.
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 can be seen in Oracle Fusion Accounting Hub. It will allow 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.
Oracle Fusion Financials is part of Oracle Fusion Applications, which are completely open, standards-based enterprise applications that can be easily integrated into a service-oriented architecture. Designed as a complete suite of modular applications, Oracle Fusion Applications help you improve performance, lower IT costs, and get better results. Whether you choose one module, a product family, or the entire suite, Oracle enables you to gain the benefits of Oracle Fusion Applications at a pace that matches your business needs.
"Oracle Fusion Financials" is part of the Oracle ERP Cloud line of products, developed by Oracle.
Oracle ERP Cloud is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.