In today’s world, organizations own huge numbers of assets, which are in different locations spread across the world and assigned to different employees. In these kinds of situations, data analysis and controlling investments on fixed assets becomes a real time challenge. Financial Information Discovery Integration (Endeca) can assist with these challenges.
Information Discovery for Oracle E-Business Suite is an integrated application that allows enterprises to leverage information-driven navigation to discover and act on their most pressing business challenges. The key benefits of Endeca in Oracle Assets are:
- Increase asset utilization
- Track assets' remaining life and depreciated values
- Maintain, replace or sell assets based on financial metrics
- Reduce asset cost
- Monitor asset values and relevant additions
- Gain visibility into asset lifecycle, value increase/decrease, movement, and resale value
- Improve asset accounting, tracking and assignment
- Detect and resolve GL reconciliation issues
- Optimize asset categorization and assignment details
Enabling Endeca integration in Fixed Assets provides search capability and answers basic queries related to asset cost, remaining life, locations, and mass transactions. Using this, users will be able to query data across multiple asset books within a single ledger. It also provides direct integration to Purchasing, Enterprise Asset Management, Payables, and General Ledger.
The graphical interpretation of this information helps management analyze the data quickly and helps in quick decision-making.
- E-Business Suite Financials Release 12.1.3 or 12.2.5
- Financials Information Discovery V6
Here is a glimpse of the business process followed by Endeca:
Endeca offers powerful and robust capabilities across the entire Oracle Assets process flow through:
- Available refinements and Selected Refinements
- Drillable graphs
- Metrics, alerts, tag clouds
- Actionable information pushed to users
- Ability to review details of relevant transactions prior to taking action
Currently, it provides solutions for four main business requirements:
Asset Cost and Accumulated Depreciation – This feature provides an overview and visibility into all financial transactions affecting asset value. Graphs in the asset cost page will enable drill-down to data to review discrepancies, analyze a root cause and take corrective action. You can also see account balances for Oracle Assets and Oracle General Ledger side by side, which smooths the reconciliation process.
Asset Aging – Provides insight into the remaining life of assets with an easy overview of asset cost, accumulated depreciation, and net book value. This page also provides the top 10 categories by remaining life along with metrics, pie charts and graphs on asset remaining life.
Asset Location – Provides an overview of assets across all locations and gives the opportunity to explore assignment to employees. It also provides an actionable link to the Asset Workbench to correct employee or cost center assignment discrepancies.
Mass Transactions – Tag clouds, graphs and charts give an overview of pending transactions to be processed. An actionable link to the mass transactions page helps to process pending transactions quickly.
For more information on what is being provided in each of the above solutions, and how to extract or refine data, refer to the Information Discovery Integration Guide.
With credit to Vaishali Karanth, Oracle Assets Support