Key Features of Oracle Financial Consolidation & Close Cloud Service (FCCS)


Oracle Financial Consolidation and Close Cloud Service (FCCS) is the newest addition to the Oracle EPM Services. FCCS is a solution to streamline the accounting activities associated with the month-end financial close. FCCS leverages Oracle’s experience with financial processes. This article outlines the key areas of Oracle FCCS:

·       Top Features of FCCS including Integrated Close Analytics and Improved User Experience
  • ·       The FCCS Transparent Close Processes
  • ·       Integrated Workflow


Process-concentric Financial Close


FCCS Consolidation & Reporting Process



What Does FCCS Include?


Features of Financial Consolidation & Close Cloud Services
Close and Consolidation : Cash flow, Balance sheet, Income statement, Rollovers, Call-to-Actions, and more are automatically calculated. Leverage multi-GAAP driven with full currency support, inter-company eliminations, equity eliminations, adjustments, and applications detailed data tracking.
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, powerful scheduling capabilities, role and data access rights
Integration : Built-in connectivity to core source systems, such as ERP and others, for consolidation and close needs.
Best Practice Consolidation Out-of-the-Box : Pre-configured consolidation model making it easy to meet global reporting requirements like IFRS and GAAP, helping drive significant cost and time savings
User Experience : Provide real-time insight and access to data with interactive process and financial dashboards
Transparent Reporting : Financial consolidation data with pre-built cash flow, balance sheet, and income statement lets you report with confidence.

Related Report: Cumulative Translation Adjustments in Oracle Financial Consolidation & Close

End to End Close Process for FCCS
·       Application Creation Wizard
·       Updated User Interface
·       Seamless Data Integration
·       Consolidation
·       Inter-company Eliminations
·       Automated and Auto-reversing Journals with Workflow
·       Built in Foreign Exchange/Currency Translation
·       Automated Cash Flow Reporting
·       Multi-GAAP Reporting
·       Detailed Data Source Tracking
·       Up-gradable Framework
·       Close Process Management
·       Supplemental Details
·       Reporting

Original Source Content: https://www.jadeglobal.com/blog/key-areas-of-oracles-financial-consolidation-cloud-services-fccs/

Comments

Post a Comment

Popular posts from this blog

Key Features of Oracle Financial Consolidation & Close Cloud Service (FCCS)

Image
Oracle Financial Consolidation and Close Cloud Service (FCCS) is the newest addition to the Oracle EPM Services . FCCS is a solution to streamline the accounting activities associated with the month-end financial close. FCCS leverages Oracle’s experience with financial processes. This article outlines the key areas of Oracle FCCS: Top Features of FCCS including Integrated Close Analytics and Improved User Experience The FCCS Transparent Close Processes Integrated Workflow Process-concentric Financial Close   FCCS Consolidation & Reporting Process     What Does FCCS Include?   Features of Financial Consolidation & Close Cloud Services Close and Consolidation : Cash flow, Balance sheet, Income statement, Rollovers, Call-to-Actions, and more are automatically calculated. Leverage multi-GAAP driven with full currency support, inter-company eliminations, equity eliminations, adjustments, and applications detailed dat...
Read more

Cloud EPM 11.1.2.4 New features

Hyperion Planning 11.1.2.4 Spreadsheet Like Interactivity with larger data sheets Rapid loading of larger forms Quick cell to cell navigation & scrolling End user being able to extend the model Adding member on fly Embedded advanced predictive planning Time series forecasting with even more history Futures Auto calculation Sandboxing Excel like formula Increased leverage of statistical modelling Driver based prediction Risk driven planning Hyperion HPCM 11.1.2.4 New Ledger Model Type Tighter integration with HFM/ GL Analysis support for management Extended leverage of EXA platforms for performance Parallel calculation enhancements Operational transfer pricing solution Hyperion HFM 11.1.2.4 DCOM not more Platform independent Windows and Linux (Exalaytics) support Significant performance improvements Multicore scaling for consolidation, data ret...
Read more

ORDS (Oracle REST Data Services)

Image
What is ORDS? ORDS offers you the power to publish a REST API for your information residing in the database. ORDS makes it simple to develop a REST interface/service for relative information. This comparative information is often held on either Associate in Nursing Oracle information, Associate in Nursing Oracle 12c JSON Document Store, or Associate in Nursing Oracle NoSQL information. Learn more Oracle Cloud solutions ORDS could be a java-based utility employed to wrap your information DML operative with web-service like GET, PUT, POST, etc., and result in a JSON format. Use Case The primary use case is to expose existing data as a REST service. Data resides typically in a database, and with the help of ORDS, we can disclose data with secure REST API. REST API can be consumed in applications, integrations, or any third-party tool which allows REST API call. The Audience: Recommended users are those who have a technical background in REST service. This d...
Read more