Oracle Financial Consolidation and Close

Financial consolidation and close processing continue to be a burden for most organizations and businesses. The extensive process of collecting and combining various data from different business activities and the department takes up valuable time and resources, which could be better used for progressive organizational analysis and managerial decision making.

As a part of Oracle Corporation’s objective in fostering business data adoption, discovering new insights, and unlocking endless possibilities, Oracle Financial Consolidation and Close successes customers in multiple industries. Moreover, it establishes expert service and trust among diverse clients internationally by bringing subscription-based consolidation and reporting built for and deployed on Oracle Cloud.

Oracle Financial Consolidation and Close is a complete and sophisticated set suite of business applications that enables corporations to execute tasks efficiently.

Now organizations can unlock their fullest potential, all the while minimizing data implementation and deployment with minimal IT support and basic technical skills.

Reduce your need for customization; with Oracle Financial Consolidation and Close, you can now automatically calculate your company’s cash flow, balance sheet, and financial statements with its best built-in functionalities and dynamic features.

Learn more about Oracle Financial Consolidation and Close’s features in helping your business process by reading this article.

Simplified tablet user interface

With Oracle Financial Consolidation and Close’s simplified user interface, you can access it easily from your iPad and Android tablets. This gives you maximum convenience and accessibility for your organization.

Moreover, Oracle’s simplified user interface (SUI) removes unwanted elements and reduces them to simpler forms. This allows you to understand the instructional content better.

In addition, the SUI guides users through onboarding and helps them focus on what’s necessary.

Native dashboarding and analysis

Oracle’s top visualization and dashboarding are cloud-native.

Therefore users are able to connect with their data wherever it is stored.

Oracle Financial Consolidation and Close’s native dashboarding and analysis have strongly shifted towards smart and self-efficient applications that will effectively help organizations carry out tasks and implement analysis.

This key feature also presents dedicated visual solutions with complete analytic packages that are practical and useful for any business type.

FCCS Account Dimension for detailed analysis

This feature allows you to analyze data using multiple dimensions, which some are already predefined.

This also enables system administrators to create additional dimensions and attributes to the financial consolidation and close process and determines which tables contains data that the user wants.

Oracle Financial Reports – Flexible application configuration with pre-built forms and report

Decrease the time you’ve spent on building configurations for your financial reports; with Oracle Financial Consolidation and Close’ pre-built forms and report, you can now efficiently and automatically configure detailed data.

In addition, with its built-in practice functionalities, users can also increase the accuracy and speed of the close process and perform expert consolidations.

FCCS Currency Dimension

If your business operates and transacts in other countries, using different currencies in your operation is needed. However, in the accounting area, your financial statements have to be recorded in a single currency.

With the currency translations and FX adjustment calculations feature, your organization can now compile all the fluctuations and oscillations inhibited by the varying exchange rate.

Businesses with international clients can now easily and automatically translate their transactions, such as the acquisition of assets, service purchases, or sales, into their functional currency.

Dynamic out-of-box calculations with limited need for customization

In maximizing profit, enterprises‘ must accurately measure, allocate, and manage currency and revenue.

To ensure revenue allocation and profitability computation, Oracle Financial Consolidation and Close can now efficiently micromanage your cost and revenue statement with its sophisticated out-of-box calculations and superior analytic software tool.

Fccs consolidation process makes auditing easier

The task of auditing presents as a difficult undertaking for most companies and organizations due to it being a communication subject and are varied from different industries with specific rules.

Oracle Financial Consolidation and Close provides a user-friendly and optimal interface making it practical, simple, and valuable for auditing the consolidation.

In addition, the platform features full currency support, intercompany eliminations, equity eliminations, adjustments, and detailed data source tracking, all the while making the subject of auditing to be convenient as possible.

Oracle Task Manager

Increase your company’s productivity with Oracle Financial Consolidation and Close’ business process task management and workflow.

Empower your organization with the focus on executing a corporate task or financial work effectively and conveniently.

Other benefits of this feature include time-saving, which can improve compliance, as well as social collaboration, and better communication in your work team.

Plus, this feature allows workflow focus, all the while improving individual roles for a steady and efficient organization.

Supplemental schedule data management

With Oracle Financial Consolidation and Close’ you can now work directly with supplemental schedule and data manager forms.

Furthermore, this feature includes the creation of data set, templates with a summarized section, and assignment workflows allowing organizations to extend the application to a more ganular and definite level of detail.

Lastly, it provides a full picture of financial statements and balances for users with easy to create templates for convenience and to track detailed information.

Optimize your organizations

The company’s financial status is deemed critical for the business process.

We understand that the process of consolidation is an extensive undertaking; that’s why Oracle Financial Consolidation and Close can help your organizations minimize risks, provide detailed transparency, and determine accurate results.

Moreover, this solution can help you streamline your financial close process, automate data collection and validation, and ensure compliance with various reporting standards.

Moreover, with its state-of-the-art functionalities and optimized features, Oracle Financial Consolidation and Close can guarantee the increase of how company finances are getting managed and robust facilitation of all accounting data. Easily accommodate financial statements, establish credibility, and improve your organizational output, and you’ll be on your way to establishing an even more excellent, high-performing, and buzz-worthy business.

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