Oracle Account Reconciliation Cloud Service (ARCS)

Oracle Account Reconciliation Cloud Service is a purpose-built solution in the Cloud for managing the global reconciliation process. It provides real-time visibility into the performance of reconciliations and ensuring that all reconciliations prepared are properly qualified. It also helps companies streamline and optimize performance by automating certain reconciliation tasks and supporting risk-based reconciliation cycles.

Automate

Leverage automatic reconciliations for efficiency and compliance

Manage

Instant visibility to the progress and status of the reconciliation lifecycle

Integrate

Integrate data from Oracle and other ERP and EPM systems to ensure all accounts are included

Best Practices

Leverage reconciliation best practices

Efficiently manage and improve global account reconciliation by exploiting automation and comprehensively addressing security and risk typically associated with the process.

KEY BUSINESS BENEFITS

  • Predicable process timescale that does not delay the financial close
  • Improve finance staff efficiencies
  • Reduced number of accounts to reconcile without compromising accuracy or increasing risk
  • Collaboration assists getting reconciliations done quickly and accurately
  • Clear responsibilities and timescales
  • Shrink the time it takes for the financial close
  • Trust and reliability that the numbers are accurate
  • No need to change existing systems
  • Peace of mind that important and confidential data is only visible to authorized users

KEY FEATURES

  • Balance integration with a variety of ERP systems
  • Mapping features to summarize low-level balances to the level appropriate for reconciliation
  • Auto reconciliation of authorized zero balance accounts and balance comparison accounts
  • Easy to use features for maintaining reconciliation assignments, including mass update and import capabilities
  • Configurable frequencies and unlimited levels of approval
  • Flexible formats adaptable to each type of account
  • Powerful filtering and reporting capabilities