Oracle E-Business Suite Financials aims at increasing efficiency of your business and reducing the back-office costs. The centralized architecture for accounting, taxes, payments, and banks allows the business to increase ‘Shared Services Efficiency’. The E-Business suite also helps in saving crucial time during decision making by providing seamless integration with business intelligence and offering market-leading planning and consolidation solutions. The software also ensures to manage enterprise risk and reduce compliance costs with end-to-end processes for governance, risk, and compliance.
|Support||Business Hours Online||Customer Type||Large Enterprises Medium Business Small Business|
|API||NA||Contact||Redwood Shores, CA / +1 (650) 506-7000|
|Deployment||SaaS/Web/Cloud Installed - Windows||Category||Accounting Software|
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Disclaimer: Oracle EBS Financials is available on quotation basis. Please visit the vendor website to get a customized pricing for your company.
What I like best about Oracle is that the reports needed for my job are easy to find and not scattered all over the place. Which is Amazing!
I dislike to login process. I feel like there is a lot that you must type in in order to login in. I get it, it’s a security mesuare, but really?!
Have the right person train you or you may be lost for a second. But it is easy to learn.
I am able to find all of the financial reports for every restaurant employee at my job. I’m able to see everything that was rang in via our Micros system and run that report to document it.
Among some of the advantages include;
i. Oracle EBS Financials is easy to use and implement.
ii. Offers a wide range of accounting features.
iii. It has an excellent reporting features
iv. After the data input, the data and the report can easily be exported in different formats.
Drawbacks of using oracle is that it does not allow data customization. Data have to be enhanced before it is fed in Oracle EBS Financials.
Oracle EBS Financials is one of the best cloud based software that plays a major role in financial management solutions. Given the services it offers i would recommend it 100%.
We used the software to solve some of the financial management problems like payroll, Bank reconciliation among many others. The Oracle EBS Financials works perfectly and provide the desired solution in financial management.
Pros: 1. Since Oracle cloud is web based, the client has to bear no installation and server fees. Also, the modules are available on any web browser which gives the end user flexibility.
2. Oracle financial cloud has very robust reporting capabilities. Even compared to Oracle EBS, there are a large number of out of box reports, dashboards which can be used as-is. Also, the latest BI features make it very easy to start creating reports using just the UI.
3. The accounting generated using Oracle fusion can be leveraged to meet reporting requirements of most international firms. Oracle Fusion also offers out of box compliance to ASC606 - Reveneue standards.
4. It has integration with Oracle EBS and data can also be imported/exported in excel format.
Cons: 1. Oracle Fusion cannot be customized so any data enhancement has to be done outside Oracle, i.e before interfacing the data.
Canned and customized reports that can cater to different analytics purposes
Slow to load and download reports, error message sometimes
Slow to load and download reports, error message sometimes
Following are the main features which i like most.
Make timely decisions with integrated information systems
Target information delivery with role-based dashboards
Protect organizational integrity with secure information delivery
Perform true global consolidation by bringing together financial datafrom any source
Automate consolidation process to improve speed, consistency, and auditability
Capture and apply accounting rules to meet local reporting standards worldwide
Use familiar spreadsheets to build sophisticated financial statements with drill down links
Achieve global viewof profitability from multiple data sources
Calculate profitability based on user-definable rules and formulas
Analyze profitability along any dimension including geography, product, channel, segment, customer, organization, etc
First of all this is very expensive product to compare with other ERPs. Secondly user licensing also been every expensive. for features wise, installation to configuration is too much complex. This need at-least four to five high configuration servers may require which may increase overall budget. Additionally, integration is too much complex as they didn't provide APIs to integrate only providing interfaces which need more codding every time.
Do proper Budgeting before going to finalize for software and end user as this is expensive product. To ensure makes composite users / group user instead of individual
Consolidate data centers
Administer fewer systems
For each new flow,leverage existing setups and reference data
Standardize, document, and audit processes
Integrated cross-application business flows
All detail availablefor drilldown
Deploy DBI in weeks vs. quarters or years for a traditional warehouse
The software is easy to implement and use as it has a user friendly interface.
Provide flexibility when it comes to many transactions.
With the software we were able to generate a well detailed investment and financial report of the company.
Quick customers help response from the oracle support team
When it comes to large volume of receipt, the Receivable Lock Feature does not function well thus prompting delays.
I would highly recommend the Oracle EBS Financials to any research firms and banking industries who are willing to store and manage their financial projects.
Oracle software is designed to keep all the financial transaction in a company. You can later generate reports to tract your financial investment progress. The software acts as a data base and stores all the financial records a company have transacted.
Its easy to customize reports from the software by adding either the business logo or slogan
Its easy to use and implement - the software work smoothly without hanging or slagging
Come loaded with all features required to manage financial a project
It has some issue when payment is made by invoice. The software also has issue with reversing journals.
I would highly recommend the software to all those financial and business corporation who want to do away with papers in the finance department. It becomes easier to manage the financial record with this software. It works more as a database.
Oracle EBS Financial is a software designed to help you easily manage the financial projects. Its an EPR system which is used as a book of all financial records.
Pros: Oracle Financials Cloud can be fast. My institution needed something more efficient and we DID achieve that with OFC.
Cons: It is very, very glitchy. Financial submissions that meet all of the criteria and have the appropriate macros integrated will still get rejected by the system. It is not very user-friendly and even the reporting feature glitches out frequently.
Overall: Overall experience is negative.
As we are larger courier company in Pakistan. We can operate from United Arab Emirates too. Our major business dependents for the cooperate sector. So we required a solid integration solution which communicate with our local application as well as give us complete visibility with better controls. Initially , we implements EBS early 2002 and us it for ten years. As this is an expensive product so we didn't update it . but 2013 / 14 it is necessary to update EBS solution as many of key features like reconciliation, reversal process , interface development, technology upgrades. Further, we have update our accounts segment upto 11 so upgartion was necessary.
OF Team is responsible for core application of Finance. We help Finance to take full advantage to maintain business information and financial activities. So we have created separate domain in IT for OF.
Major responsibilities of Oracle Financials:
Oracle Financials System Administrations
Implementation of Oracle Financials system
Smooth running of all Oracle Financials modules
Conduct joint sessions with user for new requirement specification
Provides technical guidance, system information and instruction to team members
Analyze, Designing and development of financials related systems
Development of new Interfaces and modification in existing interfaces
Perform DBA activities and disaster recovery of Oracle Financials
In new version we have 8 different module like Fixed Asset, Cash Management, General Ledger, Account Payable , Accounts Receivable and new modules like Order Management, Purchases and Inventory. So for this we have increase user list which hurt a lot as user licence is much expense of it. Secondly its only be running on Firefox , not very much supported on crown and internet explorer. Further, you have to configure Java applets on client machine which may be the issue as it gets slow many times
This is comprehensive ERP, so much and AS IS and To be document as this is not customize, preferably vanilla implementations. If you go for customize then you may not control . Additionally, you have complete user list , exact scenarios which you have to map and especially complete chart of accounts as this is the basic of this ERP
Before this we were doing every thing manually and you know booking keeping is very much difficult to maintain manually. so this give us clear picture and complete visibility of company growth which was missing initially.
This program is so helpful because it allows you to perform many financial functions all in one platform.
I disliked that sometimes the program would freeze up.
Practice and extensive training should be given to those that are new to the program. This program is capable of a lot of functionalities, but takes time and practice to be able to optimally use this program within any workplace.
Journal entries, efficiency with my work.