Reports enable businesses to provide instant access to information to all levels within and outside of the organization in a scalable and secure environment. This let us know the present condition of an enterprises and helps in taking important Business decision.
Oracle Fusion Financials Cloud Service is one of the newly build product Feature from oracle. Oracle Fusion Financials Cloud Service supports all financial reporting and analysis needs from a single system. Oracle Fusion Financials Cloud Service delivers a unique reporting platform that is built with a multi-dimensional data model.
Oracle Fusion Financials Cloud Service improved experience with reports by:
- Simplifying the data model
- Using different methods like sql query, csv file, web services etc to create reports
- Launches lights weight BI Publisher wizard to create reports
- Shared folder option which contained all your and oracle shared reports that can be further used
- Invoice print templates enlisted in shared folder can be edited and printed as per the requirement
Benefits of Financials Cloud Reporting:
Account Group feature:
Account groups are a user defined set of parent or child level accounts that the user wishes to track analyze on a regular basis. Here Users can define account groups to monitor period, quarterly, or yearly balances, compared to the same timeframe last year or compared to the immediate prior period. Actual data can be monitored against budget data.
Along with tabular representation of data in reporting fusion cloud provides a new feature of sunburst viewing .where Each node represents a breakdown of the balances by the parent or child segment values included in the account group. The size (width) of the node represents the relative contribution of each segment value balance to the total. As Shown below:
In above Diagram sales organizations broken down by region and product to understand overall performance; identify trends and anomalies.
User’s preferred format:
Reports can be viewed in the user’s preferred format – HTML, PDF, or MS Office.
Drill Down feature:
To investigate the root cause of the exception, users can quickly drill down through multiple levels of hierarchies and summarized balances to the underlying transactions. Parent values can be expanded within the spreadsheet to drill down and view the account balances of the child values, or parent values can be collapsed.
Client Install Prerequisites:
ADFdi (ADF Desktop Integration)
For integration with Excel. ADFdi must be installed as an add-on to Microsoft Excel.
Financial Reporting Studio
Financial reporting tool
– OTBI-Oracle Transnational Business Intelligence
– Business Intelligence Publishers (BI Publisher)
Integration with Excel to analyze actual and budget account balances in real-time. Smart View must be installed as an add-on to Microsoft Excel.
Financial Reporting: EBS versus Fusion
|Unintuitive report creation; no ability to insert graphs||Intuitive report creation in Excel-like interface and graphing capabilities|
|Limited output types||Multiple output types: Excel, PDF, HTML, etc.|
|Batch program required to submit reports||No batch program; Reports are live based on multi-dimensional balances|
|No interactive drilling or expanding on parent values||Interactive drilling and expansion of parent values|
|No multi-dimensional analysis within Excel||Smart view provides multi-dimensional analysis and reporting within Excel|
|No ability to actively monitor account balances||Account Monitor to monitor account balances in real-time based on user-defined thresholds|
The Financial Reporting Cloud Service does not support multiple E-Business Suite instances even if they share the same chart of accounts. It only supports a single E-Business Suite instance to one Cloud Service.
We can continue to use our current financial processes for day-to-day operational accounting, and then use Financial Reporting Cloud Service for our corporate reporting and analysis. Integration among two can ensure reports to be always based on the latest numbers/data with complete drill-down support.
Author : Nancy Saini