Oracle Information InDepth

OFFICE OF FINANCE EDITION

Oracle

Stay Connected

Oracle on Facebook Oracle Blog Oracle on Twitter Oracle Mix

February 2013

Subscribe Forward
 

Back to the main page

Accelerate Policy Compliance with Advanced Financial Controls—Without Slowing Down Your Business

Increased pressure on the bottom line, new regulations, and the growing complexity of business processes—all these forces are convincing finance executives that they may need to enhance the financial controls in their enterprise resource planning (ERP) system. Advanced financial controls can improve a company’s bottom line and make business processes more effective, without slowing down business operations.

Steve Walsh, Oracle vice president of governance, risk, and compliance applications sales, spoke to us about the emerging importance of advanced financial controls.

Q: What are the top financial challenges enterprises face today?
A: One of the biggest challenges is around protecting the bottom line. A variety of factors can negatively impact the bottom line, such as cash leakage and ineffective cash flow management. So customers are eager to minimize this risk and protect their assets. Another big challenge is ineffective business processes. Organizations are struggling to optimize their processes particularly because they often have to rely on manual reviews and approvals to enforce corporate policies. Managing operational risk also presents significant challenges and has become a more serious problem because of the large volume of transactions and unauthorized setup changes that organizations are now seeing.

Q: How can enterprises best meet these emerging challenges?
A: Customers have learned that utilizing ERP controls in conjunction with advanced financial controls is the most effective way to meet the challenges.

Q. How do advanced controls work with existing ERP controls?
A. Advanced financial controls are another tier of controls that complement or augment standard ERP controls. They are designed to continuously monitor transactions and ERP setups and provide insight into where potential violations may occur. As an essential component of an integrated GRC platform, they perform three key functions: enforcing policies, reporting results, and managing issues to resolution.

Q: Which processes benefit from advanced financial controls?
A: The procure-to-pay and order-to-cash processes stand to benefit the most. However, it is important to understand that advanced financial controls can significantly reduce risks in any process that is exposed to financial leakage, that relies on manual controls to enforce policies, or that has high-risk events that need to be continuously monitored for exceptions.

Q: Where can people find more information about advanced financial controls?
A: A great place to start is Oracle’s advanced controls solution brief. We also encourage customers to listen to my podcast on the subject. And we recently published a procure-to-pay process white paper and an order-to-cash white paper so that customers can explore how advanced financial controls can help optimize these processes.

Back to Top
 
 

Please send questions or comments to newsletter_feedback_us@oracle.com.

This document is provided for information purposes only, and the contents hereof are subject to change without notice. This document is not warranted to be error-free, nor is it subject to any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document, and no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission.

Copyright © 2013, Oracle and/or its affiliates. All rights reserved. Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Intel and Intel Xeon are trademarks or registered trademarks of Intel Corporation. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. AMD, Opteron, the AMD logo, and the AMD Opteron logo are trademarks or registered trademarks of Advanced Micro Devices. UNIX is a registered trademark of The Open Group.

  Hardware and Software, Engineered to Work Together Contact Us | Legal Notices and Terms of Use | Your Privacy Rights
 
Oracle Corporation

NSL100155129

Oracle Corporation - Worldwide Headquarters, 500 Oracle Parkway, OPL - E-mail Services, Redwood Shores, CA 94065, United States

Your privacy is important to us. You can login to your account to update your e-mail subscriptions or you can opt-out of all Oracle Marketing e-mails at any time.

Please note that opting-out of Marketing communications does not affect your receipt of important business communications related to your current relationship with Oracle such as Security Updates, Event Registration notices, Account Management and Support/Service communications.