Financial Consolidation and Close Cloud Service

For many organizations managing the financial consolidation and close process is a burden that takes time and resources that could better be used for analysis and decision-making. Oracle Financial consolidation and Close Cloud Service provides an end to end solution for both effectively and efficiently managing the consolidation and close process. No matter what the size of company, organizations can have 100% confidence in their financial consolidation, close and reporting processes. Oracle Financial Consolidation and Close Cloud Service ensures that processes are: dependable and correct, timely and transparent, streamlined and efficient and compliant and auditable.

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

Transparent Reporting

Financial consolidation data with pre-built cash flow, balance sheet, and income statement lets you report with confidence

Comprehensive and Complete

Complete end-to-end solution gives you visibility into the entire close, consolidation, data collection, and reporting activities

Integration

Built-in connectivity to core source systems, such as ERP and others, for consolidation and close needs

Key Features

  • Application Creation Wizard – Reduces the time needed to configure and implement the solution
  • Upgradeable Framework – Configure and extend the solution as required
  • Simple Upgrades - Configurations are fully upgradeable
  • Intercompany Eliminations – Automatic default intercompany eliminations
  • Currency Translation – Default currency translation along with automatic foreign exchange and currency translation adjustment
  • Journals - Robust journals module including supported workflow
  • Automated Cash Flow Reporting – Using movement hierarchies and bolt-incalculations with no need for additional calculations
  • Close Process Management – Built in task orchestration and close management analysis
  • Supplemental Details – Supporting schedules for collection of detailed information helping support statement balances
  • Hybrid cloud deployments - Support with deep integration to both cloud and on-premises systems

Key Benefits

  • Best practices out-of-the-box to get up and running quickly
  • A configurable and upgradable consolidation and close framework to tailor the solution to specific requirements
  • Easy to use
  • Easy to maintain
  • An end to end consolidation and close solution
  • Powerful analytics, dashboards, reports, and analysis for unparalleled insight
  • No infrastructure investments required