Learn more about Financial Consolidation and Close in this tour.
Get up and running fast with built-in best practice functionality, including dynamic calculations.
Reduce your need for customization, because cash flow, balance sheet, income statement, rollovers, calls to action, and more are automatically calculated.
Decrease the time it takes to meet global reporting requirements, including International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) with a preconfigured consolidation model.
Increase the accuracy and speed of the close process by reclassifying, adjusting, and eliminating data for any hierarchy with pre-built consolidation support. Work easily with the most complex legal and management rollups that may have unique calculations and reporting requirements.
Manage the close by automatically tracking key metrics across the organization. You can use out-of-the-box calculations or easily create ones for business-specific requirements.
Reduce manual work by using automatic, standard intercompany eliminations. There are additional capabilities to customize if needed.
Increase consolidation accuracy by using standard or customizable currency translations.
Consolidate your global organization with GAAP-driven applications that have full currency support, intercompany eliminations, equity eliminations, adjustments, and detailed data source tracking.
Gain efficiencies with advanced technologies that automate consolidations in the background, eliminating manual efforts.
Streamline the end-to-end close with automated process monitoring, integration, and workflow capabilities.
Reduce time and increase accuracy by automating XBRL tagging and taxonomies with natural language processing.
Provide transparency and audit compliance for tasks like journal adjustments with enforced segregation of duties, data changes, visible calculations, and user activity logging. Always see what changes have been made and by whom to the data.
Provide the full picture for statement balances by gathering supporting detail. Easy-to-create templates help with signoffs, validations, and drill-back from source to create footnotes, statement analysis, and track detailed information.
Customers in diverse industries across the globe are using Oracle Cloud EPM to speed up their financial consolidation and close processes.
Meet IFRS 16’s lease standards, which require that nearly all leases be reported on lessees’ balance sheets as assets and liabilities.
Design and configure your financial consolidation and close workflows to support your business needs, without the help of IT.
To stay on top of innovation and remain agile, Oracle Hyperion on-premises customers are moving to Oracle Cloud EPM solution.
According to research by Aberdeen, best-in-class companies are more likely to use a complete, integrated enterprise performance management (EPM) solution. Unlike imposters, such an EPM suite includes powerful financial close capabilities like automated reporting with narrative analysis or detailed process orchestration for real-time visibility into close process status.Read the complete post
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