Thursday Aug 22, 2013

AP Thought Leader to Impart Knowledge during Oracle Advanced Controls OOW 2013 Session

Oracle OpenWorld (OOW) 2013 is shaping up to be a break-out year for Oracle Advanced Controls. Among other highly-anticipated events, we are very pleased to announce that Mary S. Schaeffer, publisher and editorial director for Accounts Payable Now & Tomorrow (AP Now), will be co-presenting with Cisco Systems at a session entitled “Top 10 Advanced Controls for Procure-to-Pay to Improve the Bottom Line” (session ID is CON8814).

Mary is a nationally recognized accounts payable expert. She is the author of over 15 business books, most focused on accounts payable issues, as well as a monthly newsletter and a free weekly e-zine. She speaks regularly at industry events, one-day seminars, conferences and online events.

In the OOW session Mary plans to talk about how automated control solutions such as Oracle Advanced Controls can stop cash leakage and contribute to the bottom line.

Organizations that have made the most progress in shifting away from manual controls are adopting advanced control solutions and showing what a difference those controls make, says Mary. "Controls are more critical than ever with regards to the accounts payable process. Luckily, technology can now play a larger role in helping organizations with these controls, helping reduce erroneous payments and preventing fraud," Mary says.

We expect a full-house at this session so be sure to register early!

Learn more about AP Now. And most importantly, click here to register for OOW 2013 today!!

Monday Jul 29, 2013

Oracle Receives “Strong Positive” Rating in “MarketScope for Segregation of Duty Controls Within ERP and Financial Applications”

A guest post by Sid Sinha, Senior Director, Oracle GRC Product Strategy

Oracle has received a rating of “Strong Positive” in the Gartner’s “MarketScope for Segregation of Duty Controls Within ERP and Financial Applications[1].”

Gartner defines the ERP Segregation of Duties (SOD) Control Market as software providing the following functions: SOD Analysis, Compliant Provisioning, Transaction Analysis, Emergency Privilege Management, Role Management and Privilege Attestation.

According to Gartner, a solution rated “Strong Positive” is viewed as a provider of strategic products, services or solutions. The report framework counsels:

· Customers: Continue with planned investments.

· Potential customers: Consider this vendor a strong choice for strategic investments.

Oracle Advanced Controls includes a comprehensive SOD capability for any application including Oracle ERP platforms and financial applications. Oracle Advanced Controls addresses SOD issues at a finer level of detail than ERP role and permission management, providing unique capabilities to find and fix user security issues across multiple instances at the same time. This capability can be integrated with a user provisioning system and this integration comes pre-built for Oracle Identity Management, Oracle Fusion Applications, the Oracle E-Business Suite and Oracle’s PeopleSoft. Furthermore, Oracle Advanced Controls can scan all business transactions in the system to find actual instances SOD risk and has embedded agents to modify application behavior within the Oracle application suite itself, thereby restricting the options visible to Oracle EBS users, including administrators.

We believe that to prevent financial leakage, corporate fraud and ensure regulatory compliance, Advanced Controls must be enforced at all levels of an organization. Strong SOD policies are dependent upon controlling access to critical business applications such as enterprise resource planning, customer relationship management, and supply chain management systems. Advanced Controls, part of Oracle GRC Applications, enables businesses and organizations to manage, remediate, and enforce user access policies to ensure effective SOD.

For more perspective on the need for segregation of duties and the importance of user access controls please visit the resources section of our web page.

Disclaimer:

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.



[1] “MarketScope for Segregation of Duty Controls Within ERP and Financial Applications,” by Paul E. Proctor, May 14, 2013.

Monday Apr 22, 2013

Oracle Advanced Controls Uptakes W3C PROV Standard

Oracle product development is excited to announce that it has implemented the W3C Provenance (PROV) standard in the 8.6.4 release of Oracle Advanced Controls for E-Business Suite and Advanced Controls for PeopleSoft. This is a significant achievement for Oracle to implement this standard and demonstrates Oracle’s leadership position in the technology industry.  

 

This announcement is important because it allows Oracle’s partners and customers to quickly and easily integrate and connect their advanced control solutions with heterogeneous ERP systems.

 

According to Reza B’far, Oracle Senior Development Director, "Oracle has implemented various parts of the W3C Provenance standard to continue to enhance its support of auditing transaction and configuration controls temporally over heterogeneous environments.  W3C's Provenance standard has been implemented as a part of standard RESTful web services that the Oracle GRC Control Suite provides to its customers for integration."

 

There have been many substantial academic, government, and commercial organizations involved in the creation of the standard including University of Southern California (USC), Oracle USA, NASA, University of Oxford, University of Manchester, Rensselaer Polytechnic Institute, University of Southampton, Newcastle University, and others.

 

The W3C Provenance effort started with an incubator in 2009 and has continued to date, resulting in finalization of the first version of the standard in 2013.

 

You can follow the W3C Provenance Incubator Group on Twitter.

Monday Apr 01, 2013

Gartner TCM Report: Practical Guidance for Transaction Controls Monitoring

 

Gartner has outdone themselves with this excellent report that clearly and concisely explains transaction controls monitoring (TCM) and the related benefits. In Gartner’s “Transaction Controls Monitoring Can Improve Productivity and Financial Governance” report, the Analysis section is particularly effective when it talks about your ERP system controls and that:

“…the existence of these built-in automated controls does not ensure that they are turned on, that they are configured appropriately, and that they are not regularly overridden or bypassed — thus establishing the need for a solution that can monitor these controls.”

If you are in the market for a TCM solution, the report’s Selection Guidelines are particularly effective to help you make effective decisions.

Like much in the technology world, once you get a handle on all the acronyms, you are well under way to becoming a TCM expert!

Click here for access to the full report. As always, we welcome your comments and interesting stories about how you are using TCM solutions.

Tuesday Mar 19, 2013

Best Kept Secret How to Improve Your Organization’s Bottom Line

If your organization is like most, you have devoted enormous resources to optimizing business processes. From utilizing shared service centers, to automating workflow approvals, no doubt your processes are in great shape.

 

Less understood but even more problematic is process activities that negatively impact your organization’s bottom line. Affectionately referred to as financial or cash leakage, organizations are starting to realize that they are losing literally millions of dollars each year to cash leakage.

 

Financial leakage comes in three basic forms: 1) activities that directly impact the bottom line, 2) activities that indirectly the bottom line, and 3) activities that negatively impact cash flow and that impact on the bottom line.

 

Fortunately the word is getting out that Oracle’s GRC advanced control solutions are helping organizations of all sizes to dramatically reduce financial leakage. For example, duplicate vendor invoices are a major problem that directly impacts the bottom line. Advanced controls continuously monitor both supplier records and supplier invoices for potential duplicates, then alerts management about questionable invoices.

 

In future blog postings we plan to share intriguing ways that organizations are using their advanced control solutions to reduce financial leakage and improve their bottom line. In the meantime, we encourage you to provide comments with any use cases with your business peers.

Tuesday Jan 29, 2013

Reap Significant Cost Savings during ERP Projects with Oracle’s GRC Advanced Controls

Are you planning an ERP upgrade in the near future? Or is your organization about to embark on an ERP implementation? In either case, did you know that Oracle’s GRC advanced financial controls can play a vital role in the success of your project? Whether your goals are to accelerate project activities, or achieve lasting benefits after the project is completed, advanced financial controls will improve your organization’s bottom line.

 

But don’t take my word for it. Instead, read the Optimizing E-Business ERP projects with GRC’s advanced financial controls white paper and then ask yourself whether it is worth the risk to not use GRC’s advanced financial controls. Our esteemed colleagues at PwC wrote this white paper and provide great insight into the many challenges that confront organizations during ERP projects. They also highlight some compelling case studies such as how one company leveraged GRC’s advanced financial controls to achieve an estimated 20-percent cost savings by accelerating their configurations during an Oracle upgrade. Click here to access the white paper.

 

If you know about one of the successful organizations that have leveraged Oracle GRC’s advanced financial controls during an ERP project, please share your success story with the Oracle community by posting your comments to this blog.

Friday Jan 18, 2013

Seadrill Automates Last Mile of Manual Spreadsheet Controls

Are you looking  to automate the last mile of manual controls?  If so, look to the advanced financial controls in Oracle’s Governance, Risk, and Compliance Application Suite just like Seadrill did.  Seadrill, the experts in off-shore deep water drilling, was managing their controls in Microsoft Excel spreadsheets.  Realizing the need to automate their controls and achieve a high-level of global standardization, they implemented the Oracle GRC suite.  Their internal audit teams can now spend more time on analyzing and understanding results of their data instead of spending time on manual controls.  Hear their story.

Friday Jan 11, 2013

Join our London Seminar - Improving Business Performance with Advanced Controls

Come join Oracle, Smiths Medical, and PWC at this exclusive financial executive briefing.

What if you lost a tenth of a percent of your vendor spend to cash leakage?

It may not sound like much at first, but the losses quickly add up. Consider a firm that spends £1 billion and has a 5 percent profit margin. It would take an additional £20 million in incremental sales to recover cash lost due to leakage every year.

But what can you do? If you’re like most organisations, you’re already devoting too much time to manual tasks such as reviewing vendor invoices for errors, checking user access, and detecting unauthorised changes. Oracle recognises that this remaining element of manual controls presents an untapped opportunity for your organisation.

There’s a better way. Oracle offers advanced financial controls to help you:

  • Reduce cash leakage by automatically detecting duplicate vendor invoices
  • Improve working capital with insight into sales invoice exceptions and customer account write-offs
  • Ensure financial reporting accuracy by delivering consistent data to the consolidations process

Hear first-hand from Steve Ogilvie, Director, Governance and Security the benefits achieved by Smiths Medical from implementing Oracle’s GRC technology.

This is a must-attend event for finance executives who are ready to learn how they can increase the efficiency and effectiveness of their process controls. And if you are considering an ERP systems upgrade, this is an even more opportune time to learn how advanced financial controls can improve your bottom line.

Date:
Tuesday, November 27, 2012


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

Register now.

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! 

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

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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