By Joe G on May 10, 2012
Here's video of Smart View in action. Reading about it is fine. Seeing it is better.
With the earlier request, I wanted to take a moment to discuss the Fusion Accounting Hub. First of all, it is a separately licensed product just as is the Financial Accounting Hub in EBS. However, Fusion Accounting Hub is different in that it has two modes of implementation:
The Fusion Accounting Hub can be used as an integration platform where the Subledger Accounting module can be used to create accounting entries that post to your existing General Ledger. This is very similar to how the Financial Accounting Hub works. You would use this option if you're satisfied with your current implementation, but you have external systems for which you would like to generate accounting entries and post to your current GL.
The primary difference with the Fusion Accounting Hub is the ability to use it as a reporting platform. In this option you would post your journals (or balances) from your existing implementation to Fusion General Ledger. You may be wondering why someone would want to do this. The primary reason is the innovative functionality built-in to Fusion GL, including the cube, Financial Reporting, Smart View, and the GL Dashboard. This may be an attractive option for companies that are in need of better analysis and reporting functionality in their General Ledger without re-implementing an entire suite of applications.
Hopefully, this helps explain the Fusion Accounting Hub a bit more, but as always, if you have any questions, feel free to leave us a comment.
I put together this blog entry for the Account Inspector at the same time as writing the one for Smart View. It made sense because the two tools are similar in many respects - both are designed around the capabilities of the Essbase cube which is at the heart of Fusion GL.
Just like Smart View, you can use Account Inspector to slice and dice or pivot your data, you can also expand parent / child values within your account hierarchy and drilldown to supporting journal details. And, like Smart View, the Account Inspector is based on real-time GL balances. (If you need more details on what any of these mean, please take a look at the earlier Smart View post).
So why do we have two similar tools in Fusion GL? When might you want to use
one rather than the other?
Smart View is one example of the Essbase cube at work: it is a GL account analysis tool that combines Essbase and Excel. Smart View is an Excel plugin, so if you're already using spreadsheets for account analysis this is a very nice feature. And it works by exploiting some of the capabilities inherent in the cube.
For those of you that have forgotten algebra, GL3 is GL cubed, that's an Oracle Essbase cube to be precise. The idea behind incorporating the cube into Fusion GL was to give users the powerful multi-dimensional analysis capabilities, but wait, it's even better.....
The cube contains real-time balances. Meaning that when a journal is posted, the balances in the cube are updated. And not only the detailed balances, but the balances for all levels of the hierarchies over different dimensions too. In short, this means that there's no longer any processes needed to calculate summary balances. Oh, and, you can have multiple hierarchies or versions of hierarchies over any dimension, and they're all updated during posting.
Still not convinced? There's more.....Smart View, Financial Reporting, Allocations, Account Monitor, and Account Inspector all powered by cube.
Stayed tuned. Over the next few weeks, I'll go into more details around what makes Fusion Financials better and more on the power of the cube. In the meantime, if there's something that you would like to know, leave a comment and we'll put it on the list of topics for future posts.
This blog will be used by Financials Strategy group to discuss various Fusion Financials topics. Want to know more? Just ask.