Growth and agility for businesses using Oracle ERP systems depend on timely, accurate insights, which begin with robust financial reporting. Whether it’s cash flow management or strategic forecasting, having the best financial reporting tool for Oracle ERP can make a significant difference in decision-making.
Traditionally, companies have relied on manual methods and periodic reports that often lag behind real-time performance. But with today’s competition, waiting weeks for financial insights is no longer viable. They need faster, smarter solutions that adapt to dynamic business demands.
This is where Orbit’s GLSense stands out. As an Excel-based financial reporting tool that integrates seamlessly with Oracle ERP, GLSense enables general ledger reporting automation and real-time data access. Finance teams gain the power to generate accurate, on-demand reports using the familiarity of Excel, without sacrificing speed or control. With ERP-integrated financial reporting, stakeholders can make confident decisions backed by timely, transparent financial data.
From Reliable to Redundant: Challenges in Traditional Financial Reporting
Traditional financial reporting has been used for a long time in business operations, providing necessary information for decision making and regulatory compliance. This method consists of manual processes, spreadsheets, and accounting principles for creating income, balance sheets, and cash flow statements. Traditional reporting uses historical data and focuses on compliance with accounting standards. However, traditional financial reporting and its methods have their limitations and challenges. Let us understand some of the core challenges of traditional financial reporting, focusing on the areas where it falls short in meeting the needs of modern business practices.- Data Accuracy and Integrity
- Regulatory Compliance
- Real-Time Reporting
- Analytical Capabilities
- Consolidation
Orbit’s GLSense: The Modern Standard for Financial Reporting Excellence
Orbit AI-powered GLSense gives finance professionals a 360° view of general and sub-ledger details. It integrates directly with ERP systems as a best financial reporting tool for Oracle ERP, streamlining financial statement creation and expediting reconciliation and financial close processes. Finance teams need an Excel-based, self-service financial reporting solution for Oracle Fusion that can provide seamless user authentication, data governance, and data security. And GLSense is the answer to the best Financial Reporting, as a self-service Excel based financial reporting tool at one’s fingertips. GLSense is purpose-built to empower finance users to report directly from Excel for faster and more efficient financial reporting. It also allows ad-hoc inquiries and drill-downs. GLSense automates data aggregation from multiple sources, eliminating manual processes and reducing human error. Finance professionals can accelerate key processes by quickly accessing several pre-built, sub-ledger drill-down reports for modules such as Accounts Payable, Accounts Receivable, Fixed Assets, Inventory, Purchasing, and more.Giving Businesses a Clear Edge in Financial Reporting
- Rapid Decision Making
- Familiar Spreadsheet View
- Adhoc Reporting with Ease
- Drill-down to Details
- Integrate with any ERP
The GLSense Advantage – Scoring Over Traditional Reporting
Regarding critical financial processes, GLSense delivers like no other process or tool does. It offers capabilities that redefine efficiency and accuracy for quarter-end closings, budget forecasting, and compliance tracking. Let’s explore how GLSense handles these challenges better than traditional reporting methods.- Quarter-End Closings
- Budget Forecasting
- Compliance Tracking