Oracle Fusion Cloud is a group of software applications by Oracle. Oracle partners can integrate these applications to work efficiently as per the business requirements. It contains cloud-based applications for enterprise resource planning (ERP), enterprise performance management (EPM), supply chain management and manufacturing (SCM), human capital management (HCM), and customer experience (CX).
Some of the Oracle Fusion features are Automation, Collaborations, Machine Learning and Artificial Intelligence, Adaptive Intelligence, Intelligent Voice Interface, Independent Updates, HCM capabilities, Performance management abilities.
Oracle ERP Financials Cloud is a comprehensive suite of tools delivering higher productivity with improved control at lower costs. Oracle Financials Cloud implementation is a business transformation, it changes the way you channel and focuses on core resources to handle important aspects of any business operations. It empowers modern, adaptable finance with increased productivity and improved business decisions. Example: Using the Financials offering, your enterprise can configure how you manage financial flows, including assets, ledgers, cash cycle etc.
Types of modules in Oracle Financials:
Accounting and Control
- Accelerating financial processes and reports with automation
- Reducing exceptions with machine learning and AI-driven analytics
- Removing complexity with a single business standard
- Simplify calculation by automating joint venture management accounting
- Dealing with multi-currencies, languages, and accounting standards out of the box
- Integrate planning and budgeting across the entire procure-to-pay transaction lifecycle
- Reducing financial risk in intercompany transactions
- Increase enterprise visibility with the fastest and most scalable general ledger
- Enterprise-wide accounting platform
- Harmonized accounting data
- Trusted financial information
- Adaptable centralized accounting
- Rich financial business partnering
- Powerful accounting engine
Payables and Expenses
- Control cash outlays
- Establishing touchless invoicing
- Save on operating cost with shared services
- Accelerate expense management
Receivables and Cash
- Put cash to work faster
- Increasing accuracy in cash forecasting
- Improve customer loyalty with personalized service
- Easily configure services and meet your customer’s pricing needs
- Simplifying management of contracts, billing, and revenue
- Automating revenue recognition calculation
Asset and Lease Management
- Automating the entire asset lifecycle
- Supporting multiple tax depreciation strategies
- Reducing accounting complexity
U.S. Federal Financials
- Automate US federal accounting
- Improve financial reporting
- Meet Prompt Payment Act requirements
Benefits of Oracle Financials Cloud
- Accessibility of Features in the Oracle ERP Financials Cloud is one of the key features. You can be accessed via the internet anywhere, anytime and works on any laptop as well as mobile devices such as smartphones and tablets. This is particularly useful when employees desire flexibility in their schedules and work environment.
- It offers both real-time and on-demand capabilities in reporting, ERP Cloud Financials Suite gives you the information to make the right choices for your business when you need it.
- SaaS solutions exist in Cloud environments that are easily scalable and have integration with other SaaS offerings. Oracle ERP Cloud is engineered to enable a wide range of application integrations and provides this capability in a reliable architecture. Oracle ERP Cloud supports complex integrations as well as bulk data movement.
- ERP Cloud adapts to your business needs, can be deployed in the Cloud offered on premise, or run concurrently alongside your existing platform, all with simple implementation and management capabilities. Streamlining your financial platform means adding more value to the rest of your business.