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Learn how customers have achieved significant reductions in close times with Oracle's cloud-based financial applications.
Modern best practice enablers of mobile, social and analytics have led to tremendous advances in your ability to close financial statements in days instead of weeks. You have the ability to control the close status by monitoring and interacting with the entire enterprise to finalize any outstanding transactions and exceptions. Cloud applications provide an easy platform to securely socialize your period close with your extended team keeping everyone involved.
Monitor institution-wide close status. Interact on and finalize outstanding subledger transactions and exceptions.
Prepare and review preliminary financial statements. Prioritize outstanding transactions based on initial results.
Reconcile subledgers to general ledger, automatically matching transactions to entries.
Route close tasks to task owners automatically. Collaborate to streamline the close for each entity. Monitor enterprise-wide close status.
Transform departmental results to the institution chart of accounts. Revalue non-monetary balances and translate to the institution currency. Eliminate inter-institution activity and minority interest.
Review consolidated results including encumbrance reporting, using the same reports as each department where applicable. Enter final adjustments.
Distribute financial statements to all interested parties, leveraging collaboration to incorporate feedback.
Modify forecasts and financial plans in light of the results from the just closed period.