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Close your books faster with Oracle Financials CloudOracle cloud is an Enterprise-class cloud platform. It has 3 main divisions, which are the platform as a service, database as a service, and software as a service. We leveraged all the three components and they worked well for us. We were using outdated disparate systems for various departments. Some of the systems were heavily customized and at the end of their life cycle based on outdated technology. We wanted to move on to a single platform, streamline our processes, use the latest and greatest technology and save money at the same time. After many deliberations, we chose Oracle Cloud. Oracle Cloud is secure, agile, comes with collaboration tools, inbuilt analytics, and is mobile and tablet friendly.,User-friendly, intuitive interface. Comes with dashboards and inbuilt analytics. Comes with inbuilt collaboration tools, which helps in achieving efficiency through inter and intradepartmental collaboration. Helps in closing the books on time with automated reconciliations. Helps with ease of use and streamlined business process.,All the features available in the Oracle E-business Suite application are not available yet. Oracle is working hard to bring them in. The sooner the better. The Oracle support needs to improve. More information needs to be provided on Oracle's support website. Oracle needs to give importance to the Oracle community. So that more users use it and more people find help in it. Oracle should disseminate the information freely on various products, issues, etc. The information is not available in an easily accessible way. There is scope for improvement in the user guides. They should be simple with diagrams, pictures, etc. As of now, it is not easy to understand from the documentation.,10,By retiring old disparate systems, we saved a lot of money. We saved money in integrations as Oracle has a well integrated suite of applications in all modules. Our users were happy as the system has the latest and modern look and feel.,,Workday Human Capital Management, Coupa, Oracle eBusiness Suite, Oracle Primavera Portfolio Management,120,4,We want to track each projects profitability and margin. with this software we were able to achieve it. We wanted suppliers to enter the invoices themselves, with cloud supplier portal we could do it. We wanted a secure, mobile and tablet friendly software which our project managers could access on the field. Oracle cloud fits the bill. We wanted a software which is tightly integrated with other modules. Oracle offers applications in all possible areas which are seamlessly integrated. Oracle cloud offers inbuilt analytics and the user interface is intuitive.,Before we are storing supplier master in a different tool. With oracle cloud, we stopped using the other tool and we are leveraging oracle cloud as a repository of our master data. If a duplicate supplier is entered, oracle immediately flags it up, which is a great feature. Before oracle cloud we did not know many innovative features like self billing. we are leveraging it now. We like the self service reporting in Oracle Transactional business intelligence. Our finance users are pulling out their own reports now.,We wish to leverage invoice scanning feature by using optical character recognition. We wish to scale up Oracle cloud to our acquired companies. we wish to leverage other modules like supplier lifecycle management, Oracle sourcing, Oracle project contracts, hyperion etc,10,Yes,Price Product Features Product Usability Product Reputation Prior Experience with the Product Vendor Reputation Existing Relationship with the Vendor Positive Sales Experience with the Vendor Analyst Reports Third-party Reviews,We would talk to some old customers in a similar industry who were using the product. we will read and research third party reviews. We will hire an independent consultant to do demos. We will get access to a test system and play around and test our use cases before making a decision.,Implemented in-house,Yes,Change management was a big part of the implementation and was well-handled,while converting data, we missed some data for various reasons. After go live we found out and we fixed it over a weekend. The taxes for some transactions were set up incorrectly, we figured it and fixed it.,10,No,10,No,An oracle engineer offered me workarounds and alternative solutions.That was helpful. Oracle is also engaging with customers and doing frequent webcasts on topics of interest. This way information is disseminated to all customers. Oracle has lots of features, however the trouble is many customers do not know about it. Oracle has to do more in disseminating the information.,The dashboards on the landing page are god send. It gives all the important metrics at one place. The approval notifications shows up on the landing page. They can be approved or rejected with a single click. The collaboration tool is great. All the communication, attachments are saved for audit trail.,Allocations in general ledger are difficult. we would like to have alerts which were available in Oracle E Business Suite.,Yes,10Benefits of Oracle Cloud SystemWe use it across the organization and we also use it for every legal entity that we manage. This means we have a centralized product for use with all our companies and central reporting. It is currently being used for accounting, finance, purchasing, inventory, and fixed assets.,Ease of managing the same aspects for different companies. Having them all in the same system makes it easy for the same person to deal with many companies at the same time. Our PO approval process workflow has helped different departments manage their purchases and make sure that the ones who are able to approve look at everything. It gives the ability to approve via email without having to go into the system and is great for people that only approve but do not use the application. The accounts payables department who deals with a high volume of invoices from suppliers for all our locations has made their work easier by using the integrator provided by Oracle. It makes the data entry process less intensive and helps them upload large quantities of invoices in an easier way.,The payment approval process does not have the ability to do parallel approvals for payment and that is something that we currently use in another system we have for check printing. The app interface could benefit from standardization between different modules as they look or work different sometimes in different places. It is slower than a traditional fat client when doing intensive data entry processes.,9,We have simplified our systems since now we can run everything from one system. That has lowered our data center costs and our support and maintenance costs from multiple suppliers to just one. It has allowed us to keep working even if we are not in the office, and without the need for a VPN, because we can access from wherever there is an internet connection. In the long run, it will be cheaper to run this than to have a local system running in the data center because there are no server costs, and no operating system or database licensing costs. And there is no hardware refresh cycle which means there are savings every couple of years. Administration is also much simpler.,Microsoft Dynamics AX and NetSuite,Microsoft Office 365, CrunchTime!, Sophos Endpoint Protection
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Oracle Financials Cloud
12 Ratings
Score 9.5 out of 101
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Oracle Financials Cloud Reviews

Oracle Financials Cloud
12 Ratings
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Score 9.5 out of 101
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Shiva Krishna profile photo
May 31, 2019

Review: "Close your books faster with Oracle Financials Cloud"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Oracle cloud is an Enterprise-class cloud platform. It has 3 main divisions, which are the platform as a service, database as a service, and software as a service. We leveraged all the three components and they worked well for us. We were using outdated disparate systems for various departments. Some of the systems were heavily customized and at the end of their life cycle based on outdated technology. We wanted to move on to a single platform, streamline our processes, use the latest and greatest technology and save money at the same time. After many deliberations, we chose Oracle Cloud. Oracle Cloud is secure, agile, comes with collaboration tools, inbuilt analytics, and is mobile and tablet friendly.
  • User-friendly, intuitive interface. Comes with dashboards and inbuilt analytics.
  • Comes with inbuilt collaboration tools, which helps in achieving efficiency through inter and intradepartmental collaboration.
  • Helps in closing the books on time with automated reconciliations.
  • Helps with ease of use and streamlined business process.
  • All the features available in the Oracle E-business Suite application are not available yet. Oracle is working hard to bring them in. The sooner the better.
  • The Oracle support needs to improve. More information needs to be provided on Oracle's support website.
  • Oracle needs to give importance to the Oracle community. So that more users use it and more people find help in it.
  • Oracle should disseminate the information freely on various products, issues, etc. The information is not available in an easily accessible way.
  • There is scope for improvement in the user guides. They should be simple with diagrams, pictures, etc. As of now, it is not easy to understand from the documentation.
Oracle Financials Cloud is a great product. It is used in various industries all over the world. It helps in meeting the regulatory requirements in various geographies. It is easily scalable as the companies grow. We are in the construction industry and we use retainage in our projects. We could not figure out a way to make it work as of now. It will be great if the retainage feature is added soon in the Cloud. Allocation in general ledgers is complex as of now. I think, it can be made easier and simpler.
Read Shiva Krishna's full review
Ramon Vazquez profile photo
April 09, 2019

Oracle Financials Cloud Review: "Benefits of Oracle Cloud System"

Score 9 out of 10
Vetted Review
Verified User
Review Source
We use it across the organization and we also use it for every legal entity that we manage. This means we have a centralized product for use with all our companies and central reporting. It is currently being used for accounting, finance, purchasing, inventory, and fixed assets.
  • Ease of managing the same aspects for different companies. Having them all in the same system makes it easy for the same person to deal with many companies at the same time.
  • Our PO approval process workflow has helped different departments manage their purchases and make sure that the ones who are able to approve look at everything. It gives the ability to approve via email without having to go into the system and is great for people that only approve but do not use the application.
  • The accounts payables department who deals with a high volume of invoices from suppliers for all our locations has made their work easier by using the integrator provided by Oracle. It makes the data entry process less intensive and helps them upload large quantities of invoices in an easier way.
  • The payment approval process does not have the ability to do parallel approvals for payment and that is something that we currently use in another system we have for check printing.
  • The app interface could benefit from standardization between different modules as they look or work different sometimes in different places.
  • It is slower than a traditional fat client when doing intensive data entry processes.
I believe it is well suited for mid-size companies and up. It works great for companies that centrally manage various companies or legal entities since Oracle has the capability of managing all of them from the same place.

If the company is small then it might be too pricey for them and they may not take full advantage of some of the capabilities. Maybe, in that case, they should look elsewhere.
Read Ramon Vazquez's full review

Feature Scorecard Summary

Pay calculation (1)
8
Benefit plan administration (1)
9
Direct deposit files (1)
9
Salary revision and increment management (1)
8
Reimbursement management (1)
9
API for custom integration (2)
9.0
Plug-ins (2)
8.0
Single sign-on capability (1)
10
Role-based user permissions (2)
9.0
Dashboards (2)
9.0
Standard reports (2)
9.5
Custom reports (2)
9.0
Accounts payable (2)
9.5
Accounts receivable (2)
9.5
Cash management (2)
9.5
Bank reconciliation (2)
9.5
Expense management (1)
10
Time tracking (1)
9
Fixed asset management (2)
10.0
Multi-currency support (1)
10
Multi-division support (1)
10
Regulations compliance (1)
10
Electronic tax filing (1)
8
Self-service portal (1)
10
Global Financial Support (1)
10
Primary and Secondary Ledgers (2)
10.0
Intercompany Accounting (2)
10.0
Localizations (2)
10.0
Journals and Reconciliations (2)
10.0
Enterprise Accounting (2)
10.0
Configurable Accounting (2)
10.0
Centralized Rules Framework (2)
10.0
Standardized Processes (2)
10.0
Inventory tracking (2)
9.5
Automatic reordering (2)
9.0
Location management (2)
8.5
Manufacturing module (1)
8
Pricing (1)
10
Order entry (1)
10
Credit card processing (1)
10
Cost of goods sold (1)
10
Order Orchestration (1)
10
End-to-end order visibility (1)
10
Order exception Resolution (1)
10
Branded client dashboards (1)
9
Client data roll-up capabilities (1)
9
Client data consolidation for benchmarking (1)
10
Configurable alerts (1)
8
Billing bypass (1)
10
Client template cloning (1)
10
Single sign-on (1)
10
Configurable client onboarding questions (1)
10
Cross-client workflow management (1)
10
Industry-specific versioning (1)
10
Legacy system data migration (1)
10

About Oracle Financials Cloud

Oracle Financials Cloud is a financial management solution, allowing users to streamline financial business processes and accelerate decision making.

Oracle Financials Cloud Technical Details

Operating Systems: Unspecified
Mobile Application:No