Wednesday Oct 09, 2013

Looking to achieve accuracy and efficiency at a lower cost with an integrated accounting platform?

Many enterprises must contend with fragmented systems and processes. Rapid growth through mergers and acquisitions has increased the number of organizations with disparate systems and business units. Fragmented systems and processes not only obstruct decision-making and compliance; they also drain resources in terms of cost, human capital, and time.

Read the latest Analyst Insight, by Aberdeen Group. Based on responses from over 185 leading executives, this report:

  • Explores the current state of technology integration across organizations
  • Examines the impact of fragmented feeder systems on business productivity
  • Reviews the challenges faced and average costs incurred due to disparate systems
  • Recommends ways to achieve success when deploying an integrated accounting platform
Download the report.

Thursday Oct 03, 2013

Are you dealing with fragmented feeder systems?

You are not alone. The average organization has more than seven systems that must be integrated with their core accounting application. What if you could have a centralized view across your accounting systems and address the data integration challenges of multiple feeder systems? Listen to the experts at Aberdeen Group and Oracle to learn the latest facts about accounting integration and reporting with Fusion Accounting Hub.  Don't let fragmented systems hold you back.  With many CFOs now playing a crucial role in driving business transformation, Finance and IT have the power to partner together to make things right.

Click here to view the webcast.  

Thursday Sep 05, 2013

Join Webcast: Aberdeen Group & Oracle Sponsor "Are Your Fragmented Systems Keeping You up at Night?"

The average organization has more than 7 systems that must be integrated with their core accounting application.

Join experts from Aberdeen Research and Oracle to learn the latest facts about accounting integration and reporting. You’ll also see how Fusion Accounting Hub can help you with:

  • Simple, accurate, and centralized accounting from a single source of truth 
  • Robust rules engine built for Finance, not IT 
  • Complete audit and drill-down capabilities 
  • Real-time secure access to reports and live financial data 
  • Embedded, multi-dimensional reporting

Don’t let fragmented systems hold your finance department back. With many CFOs now playing a crucial role in driving business transformation, Finance and IT have the power to partner together to make things right.

Date: Thursday, September 12, 2013
Time: 10:00 am PDT

Register today

Tuesday Apr 30, 2013

Everyone Does Not Speak English - Fusion Financials Addresses Global Markets

A word from Joe Gum, Senior Director, Fusion Financials Product Strategy 

Imagine trying to purchase a new phone, pay your bills, or book a cruise online if the software isn’t in a language you speak? As sophisticated users of the internet, we see a distinct increase in the number of multilingual users, as well as in the amount of Web content. E-commerce is growing in importance for the international market that lies at our fingertips.

Business owners can decide to ignore these issues and keep their businesses small and regional. Global companies don’t have that luxury, nor would they want to. These companies need enterprise grade software that can be used around the world. The software needs to have the flexibility to adapt to various languages and local business practices while complying with local regulations.

We designed Fusion Applications from the ground up with the global customer in mind. The suite includes essential internationalization functionality, translation and multilingual support, and localization features. For example, Fusion Applications supports multiple date formats, number formats, names, addresses, phone numbers, and currency symbols. It also supports unlimited accounting representations and statutory reporting needs—all on a single global instance using standard preferences and setup. This allows global customers to adapt their software for a specific region or language without requiring multiple installations of the product and without engineering changes or customizations.

No one should have to settle for less. Why select a Cloud service vendor who is halfway there when you can select one who can meet all your global and multinational needs? And, with the ongoing addition of new language support with every release, Fusion applications soon will support the world’s 22 most popular languages.

We also provide localizations in Fusion Applications. These are country specific extensions to meet local business requirements. China, for example, is a country with many different local and legal requirements. The Fusion payroll solution has extensions for China, as well as for Saudi Arabia, United Arab Emirates, United Kingdom, and United States. For Financials, localizations also exist for China, plus United States, Singapore, France, and the European Union.

Even without country specific features, Fusion can be configured to support many local requirements, such as payroll and transaction taxes. You can depend on Fusion Applications to be easy and straightforward to operate in multiple countries. We designed it to help global companies be successful in expanding to new markets and locales. These localization efforts support general business functionality across all areas of the business process, such as financial management, supply chain management, human resources, etc. with country-specific tax and statutory updates. Fusion Financials Cloud Service information.

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.

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.

Tuesday Oct 09, 2012

Oracle OpenWorld Recap - A Walk in the Clouds (and heat in San Francisco)!

Whether you were one of the 50,000 attendees in San Francisco or one of the million+ online attendees – we’d like to thank you for joining us at Oracle OpenWorld last week! With temperatures in the 80s and 90s, attendees traveled the overheated streets to join packed keynotes and general sessions – all to find the information they came in search of – Oracle solutions to address their business requirements and challenges.

The buzz of this year’s OpenWorld was all about ‘The Cloud’. And, the financial management team joined in the cloud buzz with Thomas Kurian’s keynote which highlighted our ERP Cloud Service as the most complete cloud service on the market. Offering the full breadth of business operations, including Financial Management, Risk and Control Management, Project Portfolio Management, Procurement, Sourcing, and Inventory Management, Oracle ERP Cloud Service transforms the back office into a collaborative, efficient, and intuitive hub. And, our product marketing expert on Financial Management, Annette Melatti, provided a glimpse of what the office of finance looks like in the 21st century as well as shared what’s next for Oracle’s financial solutions discussing the future of Financial Management with Fusion Financials, E-Business Suite, PeopleSoft and the JD Edwards solutions. There were over 120 sessions from customers, partners, and Oracle experts that addressed financial management solutions along with demo pods and Meet the Experts sessions. We hope you found what you were looking for! Missed any of the keynotes or general sessions? Watch them on demand here.

At OpenWorld, we also announced that Lending Club, the leading platform for investing in and obtaining personal loans, has selected Oracle ERP Cloud Service to help improve decision-making, implement robust reporting, and take advantage of the cost savings provided by the cloud. The CFO of Lending Club, Carrie Dolan had mentioned that they “are an innovative, data-intensive, high-growth company and needed a solution and partner that could match us. We conducted a thorough review of our options, and Oracle ERP Cloud Service was the clear winner in terms of capabilities and business value as well as commitment to us as a customer.” Read the entire release here.

For now, it’s back to business as we gear up for the second half of our fiscal year and start planning for Oracle OpenWorld 2013!

Thursday Aug 30, 2012

Drinking Our Own Champagne: Fusion Accounting Hub at Oracle

A guest post by Corey West, Senior Vice President, Oracle's Corporate Controller and Chief Accounting Officer

There's no better story to tell than one about Oracle using its own products with blowout success. Here's how this one goes.

As you know, Oracle has increased its share of the software market through a number of high-profile acquisitions. Legally combining companies is a very complicated process -- it can take months to complete, especially for the acquisitions with offices in several countries, each with its own unique laws and regulations. It's a mission critical and time sensitive process to roll an acquired company's legacy systems (running vital operations, such as accounts receivable and general ledger (GL)) into the existing systems at Oracle.

To date, we've run our primary financial ledgers in E-Business Suite R12 -- and we've successfully met the requirements of the business and closed the books on time every single quarter. But there's always room for improvement and that comes in the form of Fusion Applications. We are now live on Fusion Accounting Hub (FAH), which is the first critical step in moving to a full Fusion Financials instance.

We started with FAH so that we could design a global chart of accounts. Eventually, every transaction in every country will originate from this global chart of accounts -- it becomes the structure for managing our business more uniformly. In conjunction, we're using Oracle Hyperion Data Relationship Management (DRM) to centralize and automate governance of our global chart of accounts and related hierarchies, which will help us lower our costs and greatly reduce risk.

Each month, we have to consolidate data from our primary general ledgers. We have been able to simplify this process considerably using FAH. We can now submit our primary ledgers running in E-Business Suite (EBS) R12 directly to FAH, eliminating the need for more than 90 redundant consolidation ledgers. Also we can submit incrementally, so if we need to book an adjustment in a primary ledger after close, we can do so without re-opening it and re-submitting. As a result, we have earlier visibility to period-end actuals during the close.

A goal of this implementation, and one that we successfully achieved, is that we are able to use FAH globally with no customization. This means we have the ability to fully deploy ledger sets at the consolidation level, plus we can use standard functionality for currency translation and mass allocations. We're able to use account monitoring and drill down functionality from the consolidation level all the way through to EBS primary ledgers and sub-ledgers, which allows someone to click through a transaction appearing at the consolidation level clear through to its original source, a significant productivity enhancement when doing research. We also see a significant improvement in reporting using Essbase cube and Hyperion Smart View. Specifically, "the addition of an Essbase cube on top of the GL gives us tremendous versatility to automate and speed our elimination process," says Claire Sebti, Senior Director of Corporate Accounting at Oracle.

A highlight of this story is that FAH is running in a co-existence environment. Our plan is to move to Fusion Financials in steps, starting with FAH. Next, our Oracle Financial Services Software subsidiary will move to a full Fusion Financials instance. Then we'll replace our EBS instance with Fusion Financials. This approach allows us to plan in steps, learn as we go, and not overwhelm our teams. It also reduces the risk that comes with moving the entire instance at once. Maria Smith, Vice President of Global Controller Operations, is confident about how they've positioned themselves to uptake more Fusion functionality and is eager to "continue to drive additional efficiency and cost savings."

In this story, the happy customers are Oracle controllers, financial analysts, accounting specialists, and our management team that get earlier access to more flexible reporting. "Fusion Accounting Hub simplifies our processes and gives us more transparency into account activity," raves Alex SanJuan, Senior Director, Record to Report Strategic Process Owner. Overall, the team has been very impressed with the usability and functionality of FAH and are pleased with the quantifiable improvements. Claire Sebti states, "Our WD5 close activities have been reduced by at least four hours of system processing time, just for the consolidation group."

Fusion Accounting Hub is an inspiring beginning to our Fusion Financials implementation story. There's no doubt it's going to be an international bestseller!

Corey West, Senior Vice President
Oracle's Corporate Controller and Chief Accounting Officer

Thursday Aug 16, 2012

Financial Management in the Cloud: Is It Right for Your Business?

A guest post by Terrance Wampler, Vice President, Financials Product Strategy, Oracle

In a previous post, we explored the pros and cons of SaaS as compared to the traditional software delivery model. Now, here are some proof points to help you make the decision about moving to the cloud. Start by asking your IT department what they’ve done with cloud services. What worked, and, more importantly, what didn't work? If there was a problem, was it about service levels? Cost negotiation? Or was the provider not good? What they learned can help the success of future projects.

The second thing to consider is your governance model around acquisitions. Will you have to change your policies and your governance of IT procurement if you move to the cloud? Do you have to bring in other players besides IT, maybe a line of business, or is the governance model actually in the acquisition? Is there already a service provider you can leverage?

Here’s a piece that customers don't always think about: Do you have a company asset that you might be able to monetize with cloud services? Not only are you looking at how you acquire cloud services, but you might see cloud services as an opportunity to monetize some intellectual property that you have. You can work with the cloud services provider to make that available and give yourself a better negotiation edge and partnership.

Who will be measuring and monitoring your service level agreements? Do you need a revised process? Different technology? Will another organization do it? How will the results be communicated? How do you audit the process? A cloud service supplier needs to do more than say his service level is great ─ he needs to prove it to you.

Interestingly, the one question that most people tend to save to the end is: Does the product functionally do what I need it to do? Does it actually have good feature sets? It sounds obvious, but we see people missing that one.

When it comes to Fusion Applications, everyone knows that it can be deployed on premise, on demand, and in the cloud — whatever way you want it. The SaaS solution also can be part of a co-existence scenario. You can keep your on premise software, and then over time, move select components to a SaaS model.

As a cloud service provider, Oracle is very well known in the industry. We've been doing this for many years. We have large data centers running our services. We are very good about meeting our service level agreements and have excellent service renewal contracts for our SaaS business. Plus, the financial component of Fusion is a fully functional solution with all the capabilities you would expect it to have and competes well against the biggest ERPs.

At the end of the day, I believe that your evaluation of total cost of ownership is primarily an internal one. We’ve taken the need for comparing different products out of the mix. So think Fusion Applications when you have a strong business case for moving to the cloud.

Related Article: Five Ideas: Finance - What CFOs need to know about cloud and other technology solutions

Thursday Jul 26, 2012

Grab a Sneak Peek at the Financial Management Activities at Oracle OpenWorld

Last chance to SAVE with the Early Bird rate -- Register by July 27th.

Everyone knows Oracle OpenWorld is the best place to find out what’s happening with Financial Management Solutions, who’s making it happen, and how it can work for you.  With over 120 sessions specific to our Financials audience, it’s your chance to learn how you can leverage Oracle technology to deliver the results expected by stakeholders.  These sessions will not only focus on Oracle’s financial product lines, but also discuss controls and compliance, as well as analytics, budgeting/planning, and financial reporting and the close process – all at one conference!

Learn from Oracle Experts, Customers, and Partners

  • Meet and hear from the world’s foremost financial management experts on how to deploy effective finance operations strategies
  • Listen to leading customers describe how they are using Oracle Financial Management Solutions to drive efficiency and manage risk
  • See how our partners have implemented successful financial management solutions to help drive sustainable growth
  • Discover how to leverage Oracle’s complete and integrated Financial Management Solutions to increase shareholder value
  • See Oracle Financial Management Solutions in action at our demo pods
  • Attend one of the many Financial Special Interest Groups to share ideas, discuss challenges, and find solutions

Join the General Session on Tuesday, October 2nd at 11:45 am for a sneak peek at “What’s Next for Financials Management Solutions at Oracle”.  Stay tuned for additional information including session IDs, dates, locations and demos.  For now, here’s a sampling of the sessions around Financial Management:

Fusion Financials
·        CON9424:  Oracle Fusion Financials: Customer Adoption and Experiences
·        CON6850:  How to Score an Eagle on a Par 5: PGA Migrates to Oracle Fusion Applications
·        CON9445:  Information Excess Versus Information Access       
·        CON8849:  Oracle Fusion ERP Case Study: Global Deployment Strategy at Oracle
PeopleSoft Financials 
·        CON9085:  PeopleSoft eSettlements 9.2 & Electronic Invoicing: Drive Down Operation Costs
·        CON9079:  New Work Paradigm: Creating & Using Workcenters in PeopleSoft Financials Release 9.2
·        CON9096:  PeopleSoft Financials Enhancement Town Hall: Interactive Discussion of Ideas
·        CON9095:  Providing PeopleSoft Customers with the Financial Intelligence Needed to Succeed
E-Business Suite
·        CON9478:  Experience Procure-to-Pay Transformation with Oracle Payables Release 12.1 
·        CON9485:  Upgrading to Oracle E-Business Suite Financials 12.1: A Technical Perspective
·        CON9481:  Oracle Payments: The payment process has been redesigned
·        Manage economic challenges and improve cash flow with Financial Analytics for Oracle E-Business Suite
JD Edwards
·        CON9125: Showcase on JD Edwards EnterpriseOne Financial Solutions
Other Sessions of interest
·        CON9560: Hot Topics in Regulatory Reporting - GAAP, IFRS, Sustainability, Solvency II, XBRL
·        CON9372: NEW: Account Reconciliations Module in Oracle Hyperion Financial Close Management
·        CON9387: Advances in Continuous Controls Monitoring with Oracle Fusion Governance, Risk, and Compliance
·        CON9395: User Panel: Reducing Upgrade Errors and Effort While Improving Compliance
Meet the Experts
·        MTE9644:   Meet the PeopleSoft Financials and PeopleSoft Supply Chain Management Applications Experts
·        MTE9645:  Meet the Oracle E-Business Suite Financials Experts
·        MTE9653:  Meet the Oracle Fusion Financials Experts

Find out what’s hot—and why. Only at Oracle OpenWorld. Register by July 27th and SAVE with the Early Bird rate.

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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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