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Gone are the days when the CFOs, Financial Controllers, and analysts were primarily focused on reporting financial results without having a comprehensive understanding of the underlying details behind the numbers.
The role of finance leaders has evolved over a period of time of time and demands a deeper insight into the “why” of financial outcomes when making strategic decisions. Today,leaders require more understanding of the context to decipher the whys, such as why sales revenues are increasing in one product segment or Accounts Receivable (AR) numbers are suddenly outperforming.
The significance of these “Whys” lies in consolidating financial transactions from one or more sources and generating valuable insights, enhancing the efficacy of business intelligence.
An ESG survey underscores this growing need, with 85% of respondents asserting that organizations must shift from merely reporting “what” to why. This shift has also propelled Advanced Data Analytics technologies to the forefront of the CFOs’ priorities, as revealed by Gartner.
As finance teams commit to meeting these new demands, they face significant challenges in retrieving and consolidating various financial transactions from different sources into unified reporting and analytics. According to Forbes research, CFOs spend an average of 2.24 hours daily validating data and consolidating reports without proper data governance. Recognizing the pressing need for a solution that empowers finance teams, Orbit Analytics emerges as a game-changer in addressing these challenges and taking your financial reporting to the next level.
With over 1000+ out-of-box pre-built reports for Oracle ERP and data models (business models), Orbit offers Oracle ERP finance reporting tools to finance teams get data from your Oracle ERP (Legacy and Cloud) and also enables them to swiftly generate comprehensive reports with few clicks on demand, surpassing the limitations of traditional Oracle E-Business Suite (EBS) reporting without any dependency on the IT team.
Benefits of Pre-built Reports and Data Models in Oracle ERP – Oracle E-Business Suite (EBS) Reporting and Oracle Fusion Reporting
When creating reports with Oracle EBS and Fusion reporting tools, data modeling offers several significant benefits, which are listed below:- Time-saving and efficient: Data models for Oracle ERP reporting provide a pre-built framework that simplifies and accelerates the report creation process. It reduces the time and effort required to design and build reports from scratch, allowing users to focus more on analyzing insights and providing valuable strategic guidance.
- Enhanced accuracy and consistency: The pre-built analytics models for Oracle ERP users are designed based on best practices and industry standards, ensuring that the data presented in the reports are reliable and aligned with established conventions. This also helps eliminate errors and discrepancies.
What are the three major subject areas for these data models?
The pre-built data models in Orbit cover three major subject areas, providing comprehensive coverage for reporting and analysis in Oracle E-Business Suite. These subject areas include Financials, Supply Chain Management (SCM), Project Accounting (PA), and Human Capital Management.|
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Financials |
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| AP: Account Payables Models | AR: Accounts Receivables Models | FA: Fixed Assets Models | GL: General Ledger Models |
| Account Payables Models analyze and manage the organization’s payables, ensuring accurate tracking and efficient management of supplier invoices, payments, and liabilities. | Accounts Receivables Models streamline the management of customer invoices, payments, and receivables. It also enables businesses to effectively track and analyze their cash flow, outstanding receivables, and customer credit profiles. | Fixed Assets Models offer a comprehensive solution for managing and tracking an organization’s fixed assets, including property, plant, and equipment. It efficiently monitors asset depreciation, maintenance schedules, and overall asset performance. | General Ledger Models serve as the central hub for financial data, providing a structured framework for recording and analyzing financial transactions across various accounts. These models ensure accurate reporting, and financial consolidation, and regulatory compliance. |
Analytics Models
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Analytics Models
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Operational Models (Sample List)
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Operational Models (Sample List)
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Subject Areas |
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Supply Chain Management (SCM) |
Project Accounting (PA) | ||
| INV: Inventory Models | OM: Order Management Models | PO: Procurement Models | PA: Project Accounting Models |
| Inventory Models effectively facilitate inventory management by providing insights into stock levels, demand forecasting, and supply chain operations. These models enable businesses to optimize inventory levels, reduce carrying costs, and meet customer demands efficiently. | Order Management Models standardize the order-to-cash process, order management models provide visibility into sales orders, order fulfillment, and customer delivery. It also manages order lifecycles, tracks order status, and ensures smooth order processing and customer satisfaction. | Procurement Models manage procurement processes, supplier contracts, and purchase orders. These models streamline purchasing activities, ensuring proper supplier management, cost control, and efficient procurement operations. | Project Accounting Models cater to project-based organizations, offering a structured approach to track and manage project-related finances. Project accounting models enable businesses to monitor project costs, budgets, revenue recognition, and profitability. |
Analytics Models
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Analytics Models
OM: Order Entry
Operational Models (Sample List)
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Analytics Models
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Analytics Models
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Subject Areas |
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Human Capital Management (HCM) |
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| HR: Human Resources Models | PAY: Payroll Models | AB: Advanced Benefits Models |
| Human Resources Models provide a comprehensive framework for managing and analyzing human resource-related data, including employee profiles, employee movements, recruitment, and performance management along with compensation management. | Payroll Models are designed to streamline payroll processes. These data models enable efficient management of earnings, deductions, tax calculations, and compliance with payroll regulations. | Advanced Benefits models offer a structured approach to managing employee benefits, including health insurance, retirement plans, and other compensation packages. They ensure accurate benefits administration and reporting while enhancing employee satisfaction. |
Analytics Models
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Operational Models (Sample List)
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Operational Models (Sample List)
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