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Financial Consolidation and Close
Optimize the financial close using comprehensive consolidation and close including complex consolidation support, close process orchestration, and supplemental data collection.
Best Practice Consolidation Out of the Box
Preconfigured consolidation model makes it easy to meet global reporting requirements such as International Financial Reporting Standards (IFRS) and generally accepted accounting principles (GAAP), helping drive significant cost and time savings.
Comprehensive and Complete
Complete end-to-end solution gives you visibility into the entire close, consolidation, data collection, and reporting activities.
Transparent Reporting
Financial consolidation data with prebuilt cash flow, balance sheet, and income statement lets you report with confidence.
Integration
Built-in connectivity to core source systems such as ERP and others for consolidation and close needs.
Product Features
Open all Close allClose and Consolidation
- Take advantage of best practice, out-of-the-box functionality for quick deployments, including dynamic calculations. There is limited need for customization as cash flow, balance sheet, income statement, rollovers, calls to action, and more are automatically calculated.
- Easily accommodate complex legal and management rollups, including unique business calculations and reporting requirements, without the need for complicated scripting.
- Automatically track key metrics across the organization. Leverage out-of-the-box calculations or easily extend to support business-specific requirements.
- Leverage a strong compliance framework including auditing, segregation of duties, and transparent calculations.
- Leverage GAAP-driven applications with full currency support, intercompany eliminations, equity eliminations, adjustments, and detailed data source tracking.
Quick Start
Flexible
Key Performance Indicators Management
Compliant
Global
Extended Close
- Gather supporting detail for statement balances via easy-to-create templates supporting signoffs, validations, and drill-back from source, which is perfect for footnotes, statement analysis, and tracking of detailed information.
- Track and report on the current status of close processes at any time including analysis by user, region, type, and priority. Use the results to identify bottlenecks and improve processing.
- Easily support new and emerging regulatory requirements such as International Financial Reporting Standard (IFRS) 16, 17, and more.
Supplemental Data
Monitoring
Reporting
Oracle Enterprise Performance Management (EPM) Cloud Process and Workflow
- Provide enterprise-level collaboration with dynamic, data-driven approval orchestration.
- Ensure audit compliance for tasks like journal adjustment with enforced segregation of duties.
- Utilize powerful scheduling capabilities for true lights-out processing.
- Deploy a fully secure, cloud-based application with role and data access rights.
Flexible Workflow and Process Management
Approvals
Automation
Security
Oracle EPM Cloud Data Integration
- Connect to source EPM business processes and ERP applications such as Oracle Financials Cloud.
- Leverage existing IT investments and quickly integrate data from multiple sources including spreadsheets and native databases.
- Achieve integrated financial decisions driven by multiple sources of financial impacts.
- Get direct access to your financial close process and data via Oracle Smart View for Microsoft Office.
Application Integration
Easy Integration with Oracle and Other Source Systems
Enterprise Awareness
Office Integration
Oracle EPM Cloud User Experience
- Provide real-time insight and access to data with interactive process and financial dashboards.
- Manage, perform, and approve tasks in configurable management work areas.
- Reduce training costs and increase user productivity with a web user interface and reports.
- Present a tablet-friendly user experience for easy, on-the-go data access.
- Intelligently remember key user selections allowing for quick system navigation.
State-of-the-Art Dashboards
Role-Based Tasks and Work Areas
Intuitive, Role-Based User Interface
Flexibility
Dynamic Intelligence
Resources
Financial Consolidation and Close in Oracle EPM Cloud (PDF)
Configuring the Financial Consolidation and Close Business Process (5:53)
Take a Tour of Financial Consolidation and Close in Oracle EPM Cloud (4:48)
Understanding Security for Financial Consolidation and Close (2:32)
Customer Stories
Chengdu Zhongde Tianxiang Manages International Finances with Oracle Cloud
We use Oracle Financial Consolidation and Close Cloud Service to consolidate financial statements of multi-equity structures and organizational structures of our overseas molecular companies. In addition to contributing to the management and analysis of our finances, Oracle provides accurate data for third-party audits.Jason Liu, IT Head, Chengdu Zhongde Tianxiang Investment Co., Ltd.
Learn How Oracle EPM Cloud Helps Montefiore Save Lives
Montefiore
Due to exponential growth, Montefiore chose Oracle EPM Cloud with consolidation, close, account reconciliation, and narrative reporting, enabling senior leaders and clinical departments to make informed decisions that help change patient lives.
Royal Bank of Scotland Future-Proofs Finance with Oracle Cloud
Royal Bank of Scotland
Royal Bank of Scotland's Head of Future Finance Stuart Wray shares how Oracle ERP and EPM Cloud are ushering in a new era for finance at this 300-year-old institution.
SRAM Moves the Close from Oracle Hyperion Financial Management to Oracle EPM Cloud
SRAM
In order to reduce IT effort and adapt quickly to changing business requirements, SRAM transitions from Oracle Hyperion Financial Management on premises to Oracle Financial Consolidation and Close Cloud.