Oracle Fusion Cloud Enterprise Performance Management (EPM) is a solution that helps users model and plan across finance, HR, supply chain, and sales, streamline the financial close process.
$250
per user/per month
ReconNET by Trintech
Score9 out of 10
N/A
ReconNET is a corporate performance management solution from Trintech. ReconNET automates account reconciliation, including high-volume reconciliation, with the goal of helping users tighten controls, reduce risk and increase process efficiency.
Pricing per user varies by component within the Oracle EPM Cloud solution. Please see pricing information for the EPM Cloud components on cloud.oracle.com or contact Oracle Sales at +1.800.633.0738.
It is well suited in a geographically distributed environment where you have various key participants in multiple time zones providing input and necessary explanations on performance and measured success It is less appropriate where you have a single office environment with a single finance department working together. It is also less suited when the GL is NOT an Oracle product and the interface between the GL and the reporting software needs to be implemented with utmost care and handling.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
It is well suited in scenarios where customers have tremendous volumes of data to deal with and where the reconciliation of the information is of paramount importance to businesses and stakeholders. We use it primarily for balance sheet reconciliations that come with features, such as exception management, which is great for focusing on the few that matter the most at the end of the day.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Account Reconciliation CLoud Services provides tight integration with Oracle R12 and 11i . Provides drillback capability. It is flexible and provides rich functionality to users.
We have implemented ARCS on cloud and migrated planning and budgeting from On premise to PBCS and EPBCS. Functionality is onpar with onpremise. Provides regular updates monthly
We don't need to upgrades every year and saved a lot on Hardware.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
The ReconNET tool has a great audit-trial system that captures every detail in the life of a record and helps eliminate any manual intervention. It's fully SOX Compliant, and helps track any changes in the data from an audit perspective.
The automation helps us focus entirely on the exceptions, which helps eliminate attention from the mundane tasks to areas with potential problems.
Exception management and automated posting to the GL are great features that help streamline many of the routine, mundane, and yet time-consuming activities, freeing up time to focus on issues at hand.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
The limitation of constrained out of the box dimensions that requires ripping the initial implementation to add the new dimensions is a major drawback.
Smartview interface is cumbersome for many.
The only financial adapter is available for integration for other modules we have to go with file-based uploads which is cumbersome and not real-time.
It is very costly in terms of licensing unlike other Oracle products.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
It takes a little bit of practice to get the hang of the tool to set up the reconciliations, but its not necessarily a drawback, since this applies to every other automation tool out there. However, once someone gets the hang of it, it's pretty user-friendly to run it on a daily basis.
Since automatons can only be built on a set logic, at times certain items that show up as exceptions are not truly a cause of concern. However, since it's always better to flag too many potential exceptions than too few, it's not a true drawback.
It has quite a few features, such as multi-currency reconciliation, bank deposits, disbursements, automated postings to G/L, etc. which could be of great value for various requirements for clients. It is especially useful where volumes of data are too large to deal with. The uses might not be phenomenal for low volume reconciliation requirements.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
We have a pretty good userbase who are at the high level who gained value from this tool. Discontinuing this tool is prone to impact their day to day operations. Also the data in this tool cannot alter the source, which maintains the integrity of this tool. Smartview is a cool addition that gained lot of traction as well.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
It produces consolidated multi currency reports faster and more accurately whilst adding additional pivotal functionality. The Smartview reporting is a key for us and a flagstone of the application
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
Support from our implementation partner is a 10/10, but support from Oracle is awful. Case in point: recently over a 2-day period, there were a series of intermittent outages. Oracle actually asked US for the outage time-stamps. I would have thought that, since we were paying them, they should probably be able to tell us!
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
I suggest doubling the time to implement from the initial quote you get from the Sales team. That's always been the case for me for multiple EPMs now. The out-of-the-box functionality of Oracle Planning and Budgeting Cloud is pretty robust so I appreciate that and it really helped us get the ball rolling quickly.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Oracle Planning and Budgeting Cloud fared very well against Adaptive, Anaplan, and Host Analytics. We ultimately decided on Oracle due to its reputation and strength of existing customers. We are happy with our decision.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Each automation tool has its own set of features, but the fact that ReconNET is built for reconciliation purposes sets it apart from the rest. The ease of usage once the user gets a hang of it, the extensive audit trial, and the ability to focus on exceptions rather than the necessity to scroll through a bulk of irrelevant information, all provide the key-user with the critical decision-making ability.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
It definitely has a positive impact on ROI with freeing up resource availability and usage on the most pressing tasks at hand. For example, focusing on exceptions rather than reconciling from scratch.
Another positive impact on the ROI can be realized with the detailed audit trials on sensitive information.
Strong Financial Reporting is the backbone of any industry, regardless of the sector it operates in, and having an automated reconciliation tool such as ReconNET helps you attain the key objective of integrity of information in a timely fashion, to support the close process.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
