Friday Jan 11, 2013

Creating a 21st Century Finance Organization

What is it that CFOs need to create a successful twenty-first century finance organization?

CFOs must become more strategic in their use of technology and even become a catalyst for change. Becoming a strategic CFO necessitates a greater focus on leveraging IT— looking forward as well as looking backward, focusing on the non-financial as well as the financial elements of critical decisions, and operating with an external and internal orientation. Read our executive strategy brief and explore how CFOs can develop a twenty-first century finance organization by getting the basics right, being more strategic, and becoming a catalyst for change.

Download the Twenty-First Century Finance executive strategy brief.

Friday Jan 04, 2013

ERP in the Cloud: CFOs See the Value

Still working on your new year's resolution? If you are a CFO, you might be thinking about finalizing the approach you’ll use to move your confidential finance and operations functions to the cloud. On the other hand, you might be unsure about whether you and your company are ready to take that leap of faith into the new technology. You might be wondering whether the cloud technology is able to handle your security requirements, your access rules, your business complexities, and your specific needs for cost reduction. Is it really ready?

Well, Steve Miranda, EVP, Oracle Applications Development, has an opinion to share with you. In its 2013 Looking Forward issue, Financial Executive magazine covers an article by Steve entitled “ERP in the Cloud: CFOs See the Value of Running Enterprise Applications as a Service.”  In this piece, Steve states: “The fact that traditionally risk-averse CFOs are open to moving their mission-critical ERP systems into the cloud should be a clear indication to all companies that ERP cloud services are fast becoming the go-to strategy for finance executives looking to access the latest technologies quickly and cost-effectively to support their corporate objectives.”

In the article, Steve talks about Oracle ERP customers, such as Carrie Dolan, Chief Financial Officer of Lending Club and Dan Knutson, Chief Financial Officer of Land O’ Lakes, making cloud and managed cloud choices.  

Read more of Steve’s opinion and Oracle customers’ perspective here.

.steve_miranda_family_photo

Steve Miranda, EVP, Oracle Applications Development

Thursday Jan 03, 2013

Happy New Year -- Resolutions for 2013

Happy New Year! At the start of every new year, many of us decide to make a few ‘resolutions’ hoping to bring some change for the good to both our personal and professional lives. Personally, I've resolved to be more active and have signed up to run a 10K race as part of the Long Island Marathon Weekend here in New York in May…so let the training begin!

Professionally, I've resolved to be more active in social media and provide more insights to those of you searching for financial solutions, tips, and interesting events to attend. To begin with here's some insightful videos from a few CFOs who shared what they are going to focus on in 2013. Listen as they discuss everything from Cloud, GRC, Big Data, Talent and Consolidation.

CFO Insights: Interview with Land O' Lakes CFO Dan Knutson

CFO Insights: Interview with AutoTrader CFO Dallas Clement

CFO Insights: Interview with Big Data Expert Andrew McAfee

Have you made your resolutions for 2013?  Start by joining our new Linked In Group – Office of Finance Solutions – and begin networking with other finance professionals in 2013!

Friday Dec 21, 2012

Registration is now open for Oracle CloudWorld! Come see the Cloud in action in Los Angeles, CA - January 29th

Is your enterprise resource planning (ERP) delivering on its promise to streamline core business processes or are you saddled with lengthy upgrades, legacy customizations, and complex integrations?

Learn about the world’s most complete cloud for the enterprise at Oracle CloudWorld and in ONE DAY find out how Oracle can transform your organization! Don’t miss out, register for this FREE event today! 

Thursday Dec 20, 2012

Accelerate Policy Compliance Without Slowing Down Your Business!

I had an interesting chat with one of our Oracle partners the other day because he told me about some of the novel and creative ways Oracle customers are using their advanced financial control solutions. In particular, how companies are using advanced financial controls to ensure their business processes are complying with corporate policies.

This raised an intriguing question whether the lack of policy compliance is a serious problem or not. I then spoke with one of my colleagues on our sales team and learned that all too often their prospective customers have significant challenges in this area. One problem is that as policy compliance gaps increase, companies have to divert more resources from running the business to enforcing policies through such manual controls as developing and reviewing reports.

Thankfully advanced financial controls in Oracle GRC can help enforce corporate policies, without slowing down businesses. By continuously monitoring configurations and transactions for exceptions and anomalies, advanced financial controls can significantly close the policy compliance gap.

If you have any examples how you are using your advanced control solutions to close the policy compliance gap, please share them with our community. Or if you have current business challenges in this area and would like to learn more about how Oracle can help, post your comments and I will respond with my thoughts.

Also, here are a couple of new documents you might find interesting and that are available on Oracle.com:

· Solution Brief: Oracle Advanced Financial Controls

· White Paper: Optimize the Procure-to-Pay process with Advanced Financial Controls

Monday Dec 17, 2012

Become a Member of our new LinkedIn group - Oracle Office of Finance Solutions

Join our new group on LinkedIn -- Oracle Office of Finance Solutions!  The group will provide finance professionals with the latest highlights on Oracle solutions for the Office of Finance, industry trends, and upcoming events.  Find us on LinkedIn, join our group today, and enjoy the opportunity to network with others.

Wednesday Dec 12, 2012

Join the Cloud - Just Like Lending Club

See why Lending Club, the leading platform for investing in and obtaining personal loans, selected Oracle Fusion Financials to help improve decision-making and workflow, implement robust reporting, and take advantage of the scalability and cost savings provided by the cloud.

Watch the Lending Club video.

Additional Resources:

Monday Dec 10, 2012

Red Robin is Serving Up an Unbridled Experience of Burgers & Fries using Oracle Cloud Solutions

Looking to make investments in the core systems that speak to the heart and soul of their business, Red Robin chose Oracle Cloud Solutions.  Now their team can focus on business transformation, manage food costs more efficiently, and reduce the amount of hours spent on inventory and production planning. Listen to their story here.

Thursday Dec 06, 2012

The Challenges of Corporate Financial Reporting

Many finance professionals face serious challenges in managing and reporting their company’s financial data, despite recent investments in financial reporting systems. Oracle and Accenture launched this research report to help finance professionals better understand the state of corporate financial reporting today, and why recent investments may have fallen short.

The study reveals a key central issue: Organizations have been taking a piecemeal—rather than holistic—approach to investing. Without a vision and strategy that addresses process improvement, data integrity, and user adoption software, investments alone will not meet the needs or expectations of most organizations.

The research found that the majority of finance teams in 12 countries—including the U.K., USA, France, Germany, Russia, and Spain—have made substantial investments in corporate financial management processes and systems over the last three years. However, many of these solutions, which were expected to improve close, reporting, and filing processes, are ineffective, resulting in a lack of visibility, quality, and confidence in financial data.

Download the full report

Friday Nov 30, 2012

Oracle E-Business Suite is Helping to Save Lives at the National Marrow Donor Program

To improve the management of its life-saving operations, the National Marrow Donor Program recently modernized its financial and procurement operations by upgrading to Oracle E-Business Suite 12.1.  

As the global leader in bone marrow and umbilical cord blood transplants, the NMDP manages a complex ecosystem of donor, patient, hospital, and biological data.


“Maintaining accurate data and having an efficient matching process is essential, particularly as our global database of bone marrow patients grows and donor lists expand,” says Bruce Schmaltz, director of finance/controller. “We rely on the Oracle E-Business Suite to ensure our procurement and financial management processes meet the highest standards, enabling our growing non-profit to work swiftly and efficiently to help improve and save lives.”

As the non-profit organization and its registry grew larger, NMDP needed a modern platform to store and integrate its financial information and complicated procurement process. It selected Oracle E-Business Suite for its ability to fit seamlessly into NMDP’s enterprise architecture. NMDP initially implemented Oracle E-Business Suite release 12 by leveraging Oracle Business Accelerators, which are rapid implementation tools and templates that help reduce implementation time and costs.

With Oracle Financial Management and Oracle Procurement, NMDP has streamlined back-office processes and integrated its procure-to-pay business processes by leveraging industry leading accounts payable, accounts receivable, and general ledger modules.

NMDP is currently rolling out Oracle Hyperion Performance Management applications and plans to implement Oracle Order Management and Oracle Advanced Pricing by the end of 2012.

Read more details about NMDP’s modernization efforts. 

For more updates on Oracle Financial Management Solutions, view our November 2012 Oracle Information InDepth Financial Management newsletter. Subscribe Now. 

Friday Nov 16, 2012

Join our webinar: What CFOs Want From IT -- Unlocking Growth with Emerging Technologies

According to the 2012 Gartner-FEI research, big data, analytics, and new mobile, social & cloud computing platforms are increasingly on the CFOs radar screen because of their potential to unlock new growth opportunities.

Join Oracle Chair Jeff Henley, & Oracle's Reggie Bradford & Rich Clayton as they explore CFO strategies & best practices for driving real value from IT investments in these areas:

  • Why CFOs should get involved in big data and business analytics projects, and what best practices they can adopt to ensure their success
  • How CFOs are leveraging new mobile and cloud computing platforms to address enterprise demands quickly and cost effectively
  • How CFOs can partner with CMOs to maximize the value of IT investments in social technologies that can help create new growth opportunities

CFOs have more responsibility over IT than ever before.  Learn how Oracle unlocks the transformative power of IT to take your business to the next level of performance.  

Date:
Tuesday, November 27, 2012


Time:
8:00 a.m. PST / 11:00 a.m. EST

Register now.

Tuesday Nov 06, 2012

Reminder: Oracle OpenWorld Presentations Available for Download

A little over 30 days ago 45,000 Oracle OpenWorld conference attendees stormed San Francisco to battle the heat in search of Oracle solutions to address their business needs. With so much activity from Keynotes, General Sessions, and Conference Panels to Meet the Experts and the Exhibit Halls, perhaps there was some Oracle Financials sessions you missed!  Keynotes and sessions are now available for download on the OpenWorld site. For a complete list of sessions and session IDs, view any of the Focus on Documents located on the OpenWorld site.

Friday Oct 26, 2012

Oracle Financials In the News

Coming off of OpenWorld and all the excitement around Oracle’s “Cloud” strategy, we thought we’d share what others had to say recently about Oracle’s financial solutions in and out of the cloud:

Information Management, the educated reader’s choice for the latest news, commentary and feature content serving the information technology and business community, had an interesting blog post from Bill McNee of Saugatuck Technology, entitled, “A Bull Market for Finance Cloud Apps”. In the post, he highlights Oracle as one of the ‘significant players’ in the space…

Oracle: As recently announced, Oracle is now aggressively marketing its Oracle Fusion Financials Cloud Service to midsize and large enterprise customers. While we anticipate that this solution set will primarily appeal to a portion of the existing Oracle customer footprint, rather than taking share from competitors, it is embedding some strong mobile and social capabilities that should help it gain traction.

Read the full article - “A Bull Market for Finance Cloud Apps”


Ventana Research, a leading benchmark research and advisory services firm, made mention to Oracle Fusion Financials in a recent blog post. While we all know ‘boring is cool’, it was cool to see Robert Kugel, SVP Research, discussing Oracle’s Fusion Financials strategy. Here’s some excerpts:

“For at least the next five years I believe Oracle has a good strategy, because the transition from the existing Oracle ERP offerings to Fusion Financials can be less painful than similar migrations…”

“Deploying Fusion GL can facilitate a more consistent and faster way to execute finance department functions.”

“Fusion Financials is the go-forward accounting and financial applications suite that will coexist…”

Whether or not it’s time to migrate, I think all users of Oracle’s E-Business Suite, Oracle Applications, PeopleSoft and JD Edwards software should consider Fusion GL as part of an ongoing program to extract more value from their core financial systems.”

Read the full article - “Oracle Fusion Financials: Boring is Cool”

Monday Oct 22, 2012

Oracle GRC in Leader’s Quadrant on Gartner’s Magic Quadrant for Enterprise Governance Risk and Compliance Platforms

Once again Gartner has recognized Oracle as a Leader in their Magic Quadrant for Enterprise Governance Risk and Compliance (EGRC) Platforms report, stating that “Oracle remains in the Leader’s quadrant based on overall corporate viability, proven execution against its road map, and advanced capabilities to integrate risk management and performance management.”  In the report, Gartner cited that Oracle clearly understands the GRC challenges faced by a number of verticals, and also the trends toward the integration of risk management and performance management. 

Gartner produces Magic Quadrant reports to provide guidance to their clients on available solutions in specific categories. This Magic Quadrant reports takes a holistic view of EGRC solutions and based on selected criteria, places vendors in one of the four quadrants - leaders, challengers, visionaries and niche. We are proud to be in the leader category! Click here to read the full report.

Congratulations to our product development, strategy, and marketing teams for creating a world-class, market-leading GRC solution!

Oracle GRC: Designed to manage risk, improve controls and reduce costs

Friday Oct 12, 2012

Lending Club Selects Oracle ERP Cloud Service

Another Oracle ERP Cloud Service customer turning to Oracle to help increase efficiencies and lower costs!! Lending Club, the leading platform for investing in and obtaining personal loans, has selected Oracle Fusion Financials to help improve decision-making and workflow, implement robust reporting, and take advantage of the scalability and cost savings provided by the cloud. After an extensive search, Lending Club selected Oracle due to the breadth and depth of capabilities and ongoing innovation of Oracle ERP Cloud Service.

Since their online lending platform is internally developed, they chose Oracle Fusion Financials in the cloud to easily integrate with current systems, keep IT resources focused on the organization’s own platform, and reap the benefits of lowered costs in the cloud. The automation, communication and collaboration features in Oracle ERP Cloud Service will help Lending Club achieve their efficiency goals through better workflow, as well as provide greater control over financial data. Lending Club is also implementing robust analytics and reporting to improve decision-making through embedded business intelligence.

“Oracle Fusion Financials is clearly the industry leader, setting an entirely new level of insight and efficiencies for Lending Club,” said Carrie Dolan, CFO, Lending Club. “We are not only incredibly impressed with the best-of-breed capabilities and business value from our adoption of Oracle Fusion Financials, but also the commitment from Oracle to its partners, customers, and the ongoing promise of innovation to come.”

Resources:

If you haven't heard about Oracle ERP Cloud Service, check it out today!


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Focusing on solutions for the Office of Finance, this blog will highlight key financial management market trends, events and other news of interest.

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