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CFOs and finance professionals want easy access to data from Oracle Fusion Cloud Financials in Excel. They need a 360° view of data from the general ledger to the supporting details in the subledgers for generating reports and running analytics to make data-backed decisions. Most importantly, the data in Excel must be refreshable in real time and the process of drilling down multiple levels must be seamless.
Simply put, finance teams need an Excel-based, Self-Service Reporting Solution for Oracle Fusion. If the solution can make user authentication, data governance, and data security seamless that would be even better.
Orbit’s GLSense is a purpose-built software that empowers finance users to report directly from Excel for faster and more efficient financial reporting. It also allows ad-hoc inquiries and drill-downs.
Orbit GLSense enables the automation of data aggregation from multiple data sources, thereby eliminating manual processes, which reduces human error. The accuracy of reports is critical for generating meaningful insights and making critical business decisions.
With Orbit GLSense, 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. It is also possible to analyze the journal activity by creating charts, applying filters, and using conditional formatting.
One tool that is popular with finance teams in the Oracle E-business suite world is GL Wand. However, when customers migrate to Oracle Fusion Cloud ERP, they are looking for an easy-to-use Excel Financial Reporting tool for real time account analysis and the ability to create reports from legacy EBS data and Oracle Fusion Cloud ERP data – say past financial data in EBS and the latest year’s data in Oracle Fusion. GLSense is the single platform from which this type of multi-year financial reporting can be generated for comparison, analysis, and decision-making.
DMCC Dubai, the World’s No. 1 Free Trade Zone according to the Financial Times, uses Orbit for its financial reporting. There were three key reasons why the company picked Orbit over other alternatives like GL Wand: one, our self-service capabilities were top-notch; two, ease of integration with both Oracle Fusion and Oracle EBS was extremely important; three, the ability to do financial reporting from within Excel using Orbit GLSense helped them save time and drive efficiency into the financial reporting process.
GLSense offers an intuitive experience for complete drill-down from balances to sub-ledger. It also enabled fast and easy distribution of financial reports without switching between applications.
With GLSense, it is easy to break siloes and get a 360-degree view of data. Often businesses struggle with the consolidation of data stored in multiple sources. Further, each team ends up using different tools for data transformation and processing – creating further siloes. Having one Excel Reporting tool for both EBS and Fusion saves time and resources for finance teams.
Depending on the current requirement of your organization, Orbit’s Financial Reporting Solution can be deployed in a SaaS-based model, private cloud, or even on-premise. The flexibility that Orbit offers can be a game-changer for your business.
For accurate reporting with no technical knowledge, it is critical that the Financial Reporting tool seamlessly integrates with Oracle Fusion. As an Oracle Gold Partner, Orbit leverages the data dictionary in Oracle, and finance users do not have to worry about processes like combining rows and columns from multiple tables, querying, etc. The entire process of user authentication, data governance, and data security is intuitive with GLSense.
To know more visit: https://www.orbitanalytics.com/financial-reporting/
DMCC, Dubai is the world’s No.1 Free Zone and center of global commodities trading. Established in 2002 by the Government of Dubai its business operations include commercial and residential real estate, in addition to trade in commodities and financial services. It is also responsible for building innovative infrastructure all across Dubai with the grand mission of keeping Dubai at the forefront of global business and trade. It is currently home to 18,000+ companies and 170 new ones join each month.
The DMCC finance team now has greater access to all the relevant data in real-time and can run analytics quickly, without having to depend on their IT team. This has speeded up the decision-making process and afforded greater efficiency and visibility.