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When it comes to reporting and forecasting, it’s important to get it right, get it fast, and know what’s coming. With Oracle Modern Best Practice for Finance—Report to Forecast, you can do all three by leveraging the cloud, mobile, social, analytics, and big data. Create insightful and timely financial reports to proactively monitor organizational performance. Identify variance trends with integrated time series regression techniques. Sandbox what-if scenarios to discover potential issues. Securely socialize the financial plan with stakeholders anytime, anywhere—from any device.
Report the actuals by line of business on a monthly, daily, or other frequent time frame for the close.
Create a new forecast scenario to replace the current period forecast with actuals.
Retain the forward outlook by extending the forecast horizon to incorporate actuals.
Review the actuals versus forecast and assess the variances.
Drill into the variances and identify trends in historical data by using built-in time series regression analysis.
Run sandboxes using what-if scenarios based on the trend analysis and latest information from across the business.
Monitor the individual forecast progressions by using dashboards and alerts. Consolidate the data into an integrated forecast for your organization.
Based on latest forecast, update the financial plan and communicate to lines of business. Report to stakeholders with a narrative context.