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Plus and Minus of Oracle FinancialsI use Oracle Financials for all financial management from requisitions, to vouchering and interface to assets. General Ledger income and expense, budgeting, tracking of all monies. Grants are very important to the organization and we track NIH and many types of grants and research, that is half of our main effort. We are expanding to mobile inventory, travel, and expenses. Its been a long road to get everyone using this new product, its been installed here almost 5 years. We added to the product connections, through interfaces to other applications such as fundraising, patient payments, annuitant payments, vendor invoices, and recently laboratory interface. We utilize the workflow approval process and have expanded to a successive chain of approvals, based on accounting. Being a healthcare organization, security is very important and don't expect to go to the cloud anytime soon, there are too many unknowns and HIPPA is very important to us.,Requisitions to PO's to voucher and assets. This works with all the tools available. Like the option to customize the PO and check print formats. General Ledger to reporting and yearend is very smooth and works well. Have had some issues with reversing journals. Grants like all the features and have been able to configure as needed to manage projects and activities. Inventory and tracking work well when integrated into our ordering for customers and stocking the inventory.,Payment Requests are new and need to be improved for paying invoices, without receiving the product. This is almost half of our payments made on a regular basis. This happens for licenses, subscriptions, and software. We have customized the workflow and still hit issues, users need to be able to modify the request and approval chain before submitting. In the past, we had customized requisitions to accomplish something similar but would prefer to use delivered features. Struggling with the licensing of applications. We decided not to use Hyperion due to the large space/storage requirement and our limited space. So we wanted to trade out this product for the budgeting detail product. But working with Oracle on modifying the licensing of products is like pulling teeth. Once you subscribe to a set of products, they do not allow or facilitate changes without lots more money. As a non-profit, the funds are not available. We have been trying for over 2 years and they want more money even though we are giving up Hyperion(expensive) for the Budget module (much cheaper). I consider this a huge disadvantage in dealing with Oracle and their regimented way of dealing with customers and no options to make changes. Huge negative. when working with Oracle support, many times you are getting someone in a foreign country and their understanding of the English language and the products are very limited. So when describing an issue, many times it is not understood. Also, the response should be within days, and when it extends to weeks, for just an update it is getting ridiculous. So my only option is to call and get things escalated.,8,as a non-profit this is not something we look at.,Not a member of any user groups,SOI Midlevel UserOracle Financials is being across the whole organization.,Provides one solution to manage a wide variety of the financial aspects of your company, from budgeting, tracking project cost, competitive purchasing, managing contracts, vendor information, accounts payable, general ledger. asset management... Provides a very useful querying tool that is fairly user-friendly in order to create, reoccurring reports, ad hoc reports, or monitor information being entered into the system. Allows security setting/roles to be given to customize what individual users can and cannot see and do. This allows users that only need to make an entry in a few places to not be overwhelmed with a vast menu of modules that do not pertain to them.,While some modules are user-friendly because of the vast amount of data that this system can manage there can be modules that are not very user-friendly and require more training before a user would be comfortable. When trying to write queries there many tables where the field names are not consistent with the linking information in another table and there are some tables that have the same field name as another table while these fields would not be the best to link.,6,The system allows for us to track and report our fiscal responsibilities to the taxpayers in an accurate and timely manner. I am involved in running the system not the purchase of the system so I do not know that financial investment that we have into it.,Higher Education User Group (HEUG),QuickBooks ProPeoplesoft shop stewardOracle Financials is used as our book of record for all financial transactions. It is used as our internal reporting tool to the business unit leaders for monitoring their annual spending and revenues against budget and for drilling into the details that make up those balances. We also employ the travel and expense module that staff use to get reimbursed and managers use to approve reimbursements.,Maintain organizational tree structures Drilldown capability to sub ledger information Integration with other systems,User interface simplicity Cost of ownership,8,Higher Education User Group (HEUG),Tableau PublicOracle Financials reviewOracle Financials is used across our entire organization.,User friendly. Not difficult to navigate or work with. Able to extract data for analytics,Ability to customize at a greater level of detail without losing the support of Oracle.,7,Quite a step up for us from our legacy system,Not a member of any user groupsFirst class flight to first class financialsOracle Financials is used primarily by the Business Control (Finance and Accounting) department. It provides our local management reporting and is used for our budgeting/planning tool. We also use it to perform our reporting to our Parent company. It addresses our needs to drill down to lower level data while reporting at a higher level.,The user interface is fairly easy to navigate. It has great reporting writing functionality. It performs complex consolidations.,The web version of the Financial Reporting Studio is difficult to use. The load error reports are difficult to decipher.,9,Difficult to quantify. I would say our initial investment has produced a positive ROI in that we are better able to analyze our business and make informed business decisions.,Not a member of any user groups,Microsoft Dynamics AX
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Oracle Financials
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Oracle Financials Reviews

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March 02, 2018

User Review: "Plus and Minus of Oracle Financials"

Score 8 out of 10
Vetted Review
Verified User
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I use Oracle Financials for all financial management from requisitions, to vouchering and interface to assets. General Ledger income and expense, budgeting, tracking of all monies. Grants are very important to the organization and we track NIH and many types of grants and research, that is half of our main effort. We are expanding to mobile inventory, travel, and expenses. Its been a long road to get everyone using this new product, its been installed here almost 5 years. We added to the product connections, through interfaces to other applications such as fundraising, patient payments, annuitant payments, vendor invoices, and recently laboratory interface. We utilize the workflow approval process and have expanded to a successive chain of approvals, based on accounting. Being a healthcare organization, security is very important and don't expect to go to the cloud anytime soon, there are too many unknowns and HIPPA is very important to us.
  • Requisitions to PO's to voucher and assets. This works with all the tools available. Like the option to customize the PO and check print formats.
  • General Ledger to reporting and yearend is very smooth and works well. Have had some issues with reversing journals.
  • Grants like all the features and have been able to configure as needed to manage projects and activities.
  • Inventory and tracking work well when integrated into our ordering for customers and stocking the inventory.
  • Payment Requests are new and need to be improved for paying invoices, without receiving the product. This is almost half of our payments made on a regular basis. This happens for licenses, subscriptions, and software. We have customized the workflow and still hit issues, users need to be able to modify the request and approval chain before submitting. In the past, we had customized requisitions to accomplish something similar but would prefer to use delivered features.
  • Struggling with the licensing of applications. We decided not to use Hyperion due to the large space/storage requirement and our limited space. So we wanted to trade out this product for the budgeting detail product. But working with Oracle on modifying the licensing of products is like pulling teeth. Once you subscribe to a set of products, they do not allow or facilitate changes without lots more money. As a non-profit, the funds are not available. We have been trying for over 2 years and they want more money even though we are giving up Hyperion(expensive) for the Budget module (much cheaper). I consider this a huge disadvantage in dealing with Oracle and their regimented way of dealing with customers and no options to make changes. Huge negative.
  • when working with Oracle support, many times you are getting someone in a foreign country and their understanding of the English language and the products are very limited. So when describing an issue, many times it is not understood. Also, the response should be within days, and when it extends to weeks, for just an update it is getting ridiculous. So my only option is to call and get things escalated.
I have worked with many businesses, from an Indian casino, Cable company, government insurance, trucking and transportation and 2 healthcare organizations. I found a real issue for assets when dealing with leases of shipping containers, it was not able to track at that level of detail. For the government insurance, it did not have the level of detail needed for the payments and group policies needed in accounts receivable. for the Indian tribe, it had issues separating the various businesses and using different models for accounting. Also, security was a huge issue to see overall numbers but not details among the businesses. So each type of product has different strengths and works as designed, but the customizations can cause issues when making the software fit the business. I know Oracle has recommended changing the business process, but that does not always work, going forward.
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April 18, 2018

Oracle Financials Review: "SOI Midlevel User"

Score 6 out of 10
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Oracle Financials is being across the whole organization.
  • Provides one solution to manage a wide variety of the financial aspects of your company, from budgeting, tracking project cost, competitive purchasing, managing contracts, vendor information, accounts payable, general ledger. asset management...
  • Provides a very useful querying tool that is fairly user-friendly in order to create, reoccurring reports, ad hoc reports, or monitor information being entered into the system.
  • Allows security setting/roles to be given to customize what individual users can and cannot see and do. This allows users that only need to make an entry in a few places to not be overwhelmed with a vast menu of modules that do not pertain to them.
  • While some modules are user-friendly because of the vast amount of data that this system can manage there can be modules that are not very user-friendly and require more training before a user would be comfortable.
  • When trying to write queries there many tables where the field names are not consistent with the linking information in another table and there are some tables that have the same field name as another table while these fields would not be the best to link.
Seems to be well suited for large organizations although since I am not involved with decisions about what systems our organization will use I am not extremely familiar with other larger organization financial management tools. For a smaller business that is only managing simpler transactions and accounting, they would be better with a less complex and more user-friendly tool.
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April 09, 2018

Oracle Financials Review: "Peoplesoft shop steward"

Score 8 out of 10
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Verified User
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Oracle Financials is used as our book of record for all financial transactions. It is used as our internal reporting tool to the business unit leaders for monitoring their annual spending and revenues against budget and for drilling into the details that make up those balances. We also employ the travel and expense module that staff use to get reimbursed and managers use to approve reimbursements.
  • Maintain organizational tree structures
  • Drilldown capability to sub ledger information
  • Integration with other systems
  • User interface simplicity
  • Cost of ownership
Oracle financials supports a larger complex organization well as allows for lots of details on many different aspects of financial transactions. However, smaller scale organizations may not be able to scale the products to fit their more simplistic needs. We face this looking for solutions for grant processing where Oracle Grants module is too complex for our needs and there is no scalable solution other than to create custom pages or manual reporting.
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April 06, 2018

"Oracle Financials review"

Score 7 out of 10
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Oracle Financials is used across our entire organization.
  • User friendly.
  • Not difficult to navigate or work with.
  • Able to extract data for analytics
  • Ability to customize at a greater level of detail without losing the support of Oracle.
The basic product for billing and AR modules is at a "customer" level, and it would be nice to have the ability to have a more detailed level/capability for managing items in this area. A customer at a high level is good, but again, being able to add/define at a greater level of detail would be nice.
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March 08, 2018

Oracle Financials Review: "First class flight to first class financials"

Score 9 out of 10
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Oracle Financials is used primarily by the Business Control (Finance and Accounting) department. It provides our local management reporting and is used for our budgeting/planning tool. We also use it to perform our reporting to our Parent company. It addresses our needs to drill down to lower level data while reporting at a higher level.
  • The user interface is fairly easy to navigate.
  • It has great reporting writing functionality.
  • It performs complex consolidations.
  • The web version of the Financial Reporting Studio is difficult to use.
  • The load error reports are difficult to decipher.
Oracle Financials is well suited for financial reporting and analysis and budgeting/planning. It has great functionality with the Smartview Excel add-in. It might be less appropriate for smaller organizations.
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February 08, 2018

Oracle Financials Review: "Solid product, needs to be implemented correctly"

Score 8 out of 10
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We use Financials for our corporate holding company and one line of business. It provides the consolidated financials for the company and the operational activities (payables, expenses, journals, etc.) for one of our lines of business. We are also currently expanding our AR capabilities to additional business units.
  • nVision reporting is loved by the users
  • Flexibility to use across multiple business units with differing need
  • Fairly intuitive - most users catch on pretty quickly
  • Releases come too often and are not fully tested - we can't keep up and the bugs cause lost of issues
  • Tax reporting - very limited on the US side to only 3 types of 1099s. This does not meet the needs of our AP dept.
  • Integrations - it is still very time consuming and difficult to create new integrations
Oracle Financials is well-suited for large complex organizations. Sometimes the flexibility of the system can be too much for smaller, less complex companies. It works pretty well for multi-currency, but unfortunately, since it is so flexible, our original setup was not ideal, which causes us some issues. Would be nice to re-implement at some point. So much of how well PeopleSoft works is based on how well it is implemented. It would be nice if more red papers were written on best practices for configuring the system based on different scenarios.
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October 13, 2017

Oracle Financials Review: "Peoplesoft financials"

Score 7 out of 10
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  • It is being used enterprise wide for all departments.
  • It is used for processing POs and invoices. We also use the system for RFPs for external vendors.
  • It addresses needs like tracking invoices, relating those invoices to the issues POs. Approval by various approvers in the departments and then centrally approved.
  • Workflow
  • Commitment controls
  • UI
  • Greater ability to configure
It is very well suited for enterprises that have a large number of vendors that they need to manage.
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Nischal Anand Singh MBA,MA,B.Com profile photo
September 13, 2017

"Oracle Financials Review"

Score 8 out of 10
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Oracle Financials is being used by my company for travel and expense management purposes for now. It's also being used for accounting purposes as well by the finance department.
  • Travel & Expense management : Very easy to use and navigate
  • Accounts : Easy drop down menus, calculations and pretty fast
  • User Interface : Looks very plain, simple and boring
  • Tendency to hang a bit mid-transaction

Travel & Expense management is very well suited
Accounts - very well suited

I personally believe that for transportation and logistics it might not be the best suited.
Read Nischal Anand Singh MBA,MA,B.Com's full review
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September 08, 2017

Review: "Long Time Oracle Financials User/Developer"

Score 9 out of 10
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Across the whole organization, it is being used mostly for the financials part, (GL, payables, receivables, cash management, etc.) the order management, service contracts for customer orders, install base for customer products, purchasing for the whole organization, inventory and work in process for a few items. It's also used in HR.

Users all across the organization are making use of most modules.
  • The majority of the products have been around for years, so it is a mature product. Not a lot of bugs, as long as we keep up with the patches. It is very stable and solid all around, also flexible. It allows us to customize/set up most screens by making use of personalizations or extensions without major issues.
  • The fact that it's flexible is very useful for a business like ours that needs a lot of customizations for multiple different organizations all around the world.
  • Most modules have APIs, that allow interfacing with other systems, there are customization standards, etc. As oppose to the latest new offerings from cloud where you are not allow a lot of flexibility and customizations.
  • The ability to have multiple language support for organizations around the world, not sure about competitors but it exists and it has for years (multiple languages support).
  • I think Oracle is not improving the product much, they are mostly focusing on their latest and greatest. So Oracle Financials may be missing the latest mobile interfaces and the new and latest app interfaces. Any other major improvements are lacking but you have a stable product because of this too.
  • Like I also said, new features are not coming fast anymore, Oracle is just releasing small changes for every product, not as many as they used to.
  • It might be also a bit complicated to manage; it takes expert DBAs to take care of the administration. It might be a little hard to learn. It is a big system with a loT of features. The more features you have the more complex it could be to set up. An implementation of the software sometimes can take a long time but this is expected with other ERP systems as well.
  • Maybe due to the fact that there is not a cloud offering that I know of, I think Oracle offers the platform to install your dev and test environments but I do not think they offer Oracle Financials in the cloud yet, probably because it would compete with their Fusion offering.
I believe Oracle Financials works well for big international companies that require lots of features, lots of options, and a lot of flexibility to change the products as needed for their own business. It is also very stable and performs well, and has some of the characteristics that big companies demand. Also, it is an on premise offering, allowing the customer to manage it as needed as well as extend the systems as necessary. It is a mature product so you won't find major bugs. Also the connectivity to other systems is probably top notch. There are lots of options, from file base to API or web services. All these options also mean that it could be a little complex to manage but you cannot have it all. You want everything then it is going to cost one way or another. If you don't want many options/features then probably a cloud solution would be better.
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October 13, 2017

Oracle Financials: "Review"

Score 9 out of 10
Vetted Review
Verified User
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Financials system of record (Accounting) and Supply Chain (Purchasing, Inventory)
  • Integration across modules
  • Expense Entry
  • Reporting
  • Concurrent Manager and output
Well suited to most type of industries and companies. One module that I would say is not suited for all industries and companies is Oracle Projects. If you are already a project centric organization, then it will work best. If you aren't, you may find it very restricting and requires a high level of discipline to use.
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Ryan Payne profile photo
November 22, 2016

User Review: "Oracle Financials for Utilities"

Score 9 out of 10
Vetted Review
Verified User
Review Source
Oracle Financials is our main ERP system for all of our financial accounting management. It is a heavily integrated system which allows transactions and operations data to flow from our work management, inventory, procurement and HR/payroll systems to accurately record our corporate finances. Oracle Financials allows us to tie together all of these various figures which create the bottom line for the company.
  • Easily integrates with other Oracle products to create a total ERP solution.
  • Has built in functionality and APIs to integrate with third-party systems to deliver the same functionality in a solution product corporate environment.
  • Allows for powerful and flexible reporting.
  • The Oracle Fixed Assets Module is not well suited to handle the unique demands of utility accounting.
  • Upgrades can be a large undertaking for both the technical team and users who will be testing. The magnitude depends on what automated testing is in place and the level of customization within the application.
  • As with most major software it is less problematic to be slightly behind the curve on any patching or overall product version. Bugs in newly released content are not uncommon.
Oracle Financials is especially well suited for customers who are utilizing other Oracle products within their business. It integrates well with other Oracle products and can also integrate with third-party systems. When integrating heavily with third-party systems a product experienced in-house IT staff or outside consulting support will be required. It is a very powerful and robust tool but also requires a significant investment and setup to maximize. It would not be the most efficient system for a smaller company without a large budget or solid IT department.
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Samuel John profile photo
November 21, 2016

Review: "Oracle Financials - Best ever accounting software"

Score 9 out of 10
Vetted Review
Verified User
Review Source
Oracle Financials is used across NCI in three different business segments. The components and the coating business segments use the complete order to cash and procure to pay modules. Most of the modules that we use at NCI are out of the box modules and we only use customization for manufacturing modules.
  • The financial modules in Oracle Financials are very matured products and work for any accounting department, particularly very well with American corporations.
  • This is a flagship product of one of the most trusted IT companies, Oracle Corporation and hence it will always have a very good backing and will have a longer life than any smaller products.
  • The support for oracle financials is very efficient.
  • Oracle Financials pretty much has all the bells and whistles of a matured accounting package and hence does not have much room for improvement.
Oracle Financials is well suited for mid-range and big corporations. However it would be an overkill for small businesses. It would be good if oracle financials could have a lite version that could cater to the small businesses. For companies that are not small businesses oracle financials would be just the right solution.
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November 22, 2016

Review: "Oracle Financials - A competitive edge over Ofbiz"

Score 8 out of 10
Vetted Review
Verified User
Review Source
Our organization worked on open interfaces (inbound and outbound interfaces) and conversions in Oracle Financials. Understanding business flows, underlying technical architecture and the table structure of the Financials suite helped in managing assets and their tracking. It also helped in financial accounting and business intelligence.

Oracle Financials being a collection of enterprise resource planning (ERP), customer relationship management (CRM), and supply-chain management (SCM) computer applications is used by our business operations department for revenue reporting and transactions related to investments.
  • Huge Footprint: provides flexibility to multi national transactions.
  • Highly customized and lets one have freedom to do whatever is required. Easy integration with other modules helps in easier automation of the ERP process.
  • We were able to get a detailed investment report and were able summarize as well.
  • Difficult Customization: Backward compatibility to older versions is difficult.
  • Requires hiring experienced consultants for the reporting solutions (R12).
  • Highly trained staff [is needed] to accomplish changes.
Well suited for big organizations where specialized personnel is there to handle it. But, it has really good customization features for asset and cash flow management.
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November 21, 2016

Review: "Using Oracle Financials Cloud in high transactional volume environment"

Score 9 out of 10
Vetted Review
Verified User
Review Source
It is currently being used by the revenue team in our finance department. It is used for sales booking and revenue reporting.
  • We are using the Receivables and GL modules. The Oracle Receivables auto invoice program is able to handle the large transaction volume we have.
  • We are getting excellent support from the Oracle Success Manager dedicated to my company.
  • We received a lot of help from the Oracle development team on technical issues.
  • We used the Receivable Lockbox program to import our receipts which is not flexible and difficult to implement.
  • The Receivable Lockbox program does not work very well to support a large volume of receipt transactions.
  • There are a few UI bugs in Cloud R10 and R11 which made our jobs more difficult.
  • Sometimes scheduled jobs like 'Create Accounting' errored out without giving meaningful error messages.
In general Oracle Receivables works well with common business scenarios. One limitation is the cloud reporting tool. We have developed many custom reports using BI; the performance of the report may lag when it processes a large number of records. Even a standard report may not be exported properly to Excel sometimes.
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Brad Philip, CPA, CA, MBA profile photo
September 16, 2016

Oracle Financials Review: "Oracle - used at a small investment manager"

Score 4 out of 10
Vetted Review
Verified User
Review Source
Oracle Financials is being used by the Finance department for the preparation of financial statements and accounts payable. We use it for the preparation of the financial statements for the RESP plans that we manage as well as for the corporate entities. Through some recent customizations, the investment accounting group is also using it to summarize all of the investment transactions received from our custodian.
  • Oracle is able to be highly customized to do whatever is required. For example, in our case we were able to receive detailed information from our investment custodian and summarize it in the manner we desired for inclusion in the G/L.
  • For a smaller organization such as the one I was with, Oracle was overkill. It has so much potential functionality that a smaller organization will not be able to use it as it as it was designed to be applied. I usually described it as buying the power and functionality of a Boeing 747 when all you need is to drive through the city.
  • Customization is difficult and requires hiring experienced consultants or highly trained staff.to complete.
Oracle is well suited to large organizations where integration with manufacturing/logistics would be beneficial or multi-national organizations where consolidation could be performed within one platform. Our organization purchased it because we were using an Oracle database to manage our client base and Oracle allowed for an easy integration of the information from the database to our financials, but we were only using it for the preparation of the financials and another simpler system could have achieved the same result for us
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Mahesh Khatri profile photo
July 29, 2016

Review: "Financial Management using Oracle Financials"

Score 9 out of 10
Vetted Review
Verified User
Review Source
Oracle Financial is used to support the Global Operations of the company and is currently being used extensively across more than 20 countries. All the operations including both Supply Chain (Order Capture, shipping, purchasing, inventory management, etc.) and financials (invoicing, collection, taxation, payments, deduction & settlement, costing, cash management and treasury operations) are performed and tracked leveraging Oracle eBusiness Suite.
  • Incorporation of SLA's in Oracle R12 has provided lot of flexibility from accounting perspective. This is definitely helpful in handling the complex accounting requirements and researching the accounting entries.
  • eBusiness Tax is pretty much configurable and can be extended to any of new geographies. The product is designed to handle the tax legislation for most of countries by Product, Party and location.
  • Payment process manager supports all payment types including ACH, EFT, Check, postive pay etc. Payments can processed simultaneously for multiple operating units easily. Payment templates makes it convenient to process the payments without much hassle.
  • AR - Cash receipts across applications.
  • System should allow application of a single check payment to various operating units.
  • Oracle ipayment application does't provide tokenization feature for credit card payment. This is a very much needed feature and should be available out of the box.
  • Oracle eBusiness tax application does't load rates for all service providers. It only support Vertex and Taxware.
  • Oracle iPayment does't support level 2-3 information for non P-Card credit card transactions.


[Oracle Financials is well suited for:]
i) Multiple Accounting representations for the same transactions is very helpful in meeting requirements of different GAAPs.
ii) Configuring the SLA application help in meeting the ever changing accounting requirements.
iii) Powerful integrations in AR including autoinvoice and lockbox.
Less Appropriate:
i) Cash reconciliation process still has the room for improvement.
ii) Oracle treasury application is pretty basic which still require lot of improvements.
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Dan McDougell profile photo
December 28, 2015

Oracle Financials Review: "Hyperion Financial Management from the perspective of a Supervisor in Financial Reporting/Financial Planning & Analysis department"

Score 6 out of 10
Vetted Review
Verified User
Review Source
Oracle Financials is used throughout the Emerson organization and is our primary enterprise management software platform. In my department (and in similar departments throughout the company), we primarily rely upon Hyperion Financial Management (HFM) and its Excel add-in, Smart View, for all of our reporting needs. As a supervisor in the Financial Planning and Analysis department of Emerson's largest division, we use HFM and Smart View to retrieve and consolidate information loaded by our business units and world areas. Although HFM apparently has the functionality for report generation, we rely almost exclusively on data manipulation and analysis within Excel for our deliverable needs.
  • HFM is a powerful tool that has the ability to (usually) quickly consolidate and organize large amounts of data from many different sites around the world.
  • HFM's ability to eliminate intercompany transactions is very helpful when a number of our business units buy and sell from one another frequently.
  • Although the mechanics and coding are far from intuitive, the ability to export large amounts of data using the Excel add-in Smart View significantly reduces the amount of time required for manually adjusting individual pieces of data within the HFM system.
  • HFM's interface and functionality is far from being the most user friendly, and the learning curve is especially steep for those new to the system.
  • The coding required to effectively pull data from or export data to HFM within the Excel add-in Smart View is difficult to do and requires a fairly high degree of experience with the system.
  • It is very difficult to make changes to HFM without external support. Its lack of quick adaptability for those in non-IT positions is one of HFM's biggest weaknesses.
My lukewarm recommendation should be taken with a grain of salt, as this is the first enterprise management software platform to which I've been exposed. But having spent 4 years working within HFM, I think I have had a fair amount of exposure to its strengths and weaknesses. Although its functionality can be very powerful and capable of addressing most needs of large organizations, its inability to be quickly manipulated as different business needs arise and its complex, not so user-friendly interface are negatives in my book.
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Umeshwar Thakur profile photo
February 15, 2016

Review: "You got to be crazy for not having Oracle Financials"

Score 7 out of 10
Vetted Review
Verified User
Review Source
We use Oracle ERP to manage our business operations. Oracle financials' key modules are used by all our centers across the globe. The beauty of oracle financials is to manage localisations requirements in different countries. The eTax module is a great asset. The open architecture to plug and play has helped us immensely. Flexibility in setting up the ledger, reporting ledgers and consolidation is fantastic. Had Oracle provided good looking and easy to build reports in a modern UI, no one could have imagined to look for another ERP.
  • Localisations - Support to several countries taxation rules.
  • Cross currency- Flexible design to manage cross currency transactions.
  • Integration with several modules. One stop show to automate business process in one ERP.
  • User interface - It's an old UI and with inventions of Facebook and web 2.0, Oracle is far behind here. Fusion is the solution but migration from the old version to Fusion is a daunting task.
  • Reporting - One has to invest a lot in oracle to have a better reporting solution. They could have provided reporting solutions as part of R12.
  • Oracle support - Working with Oracle support is a pain. I pray to the almighty all the time about whether to create a service request (SR).
  • Enhancement - Takes years to get basic enhancements from Oracle.
Read Umeshwar Thakur's full review

Oracle Financials Scorecard Summary

Feature Scorecard Summary

Pay calculation (9)
7.9
Benefit plan administration (9)
7.7
Direct deposit files (8)
7.9
Salary revision and increment management (6)
7.7
Reimbursement management (6)
7.9
API for custom integration (10)
8.3
Plug-ins (7)
7.0
Single sign-on capability (13)
8.0
Role-based user permissions (17)
7.9
Dashboards (12)
8.5
Standard reports (17)
6.7
Custom reports (15)
7.5
Accounts payable (16)
8.5
Accounts receivable (15)
8.5
Global Financial Support (6)
6.1
Primary and Secondary Ledgers (6)
8.1
Intercompany Accounting (5)
6.8
Localizations (2)
9.0
Journals and Reconciliations (9)
7.5
Enterprise Accounting (7)
7.3
Configurable Accounting (7)
7.3
Centralized Rules Framework (6)
6.5
Standardized Processes (8)
6.3
Inventory tracking (10)
8.3
Automatic reordering (9)
7.6
Location management (6)
7.8
Manufacturing module (7)
6.7
Pricing (7)
8.0
Order entry (9)
8.6
Credit card processing (8)
8.6
Cost of goods sold (7)
8.9
Order Orchestration (2)
8.5
End-to-end order visibility (2)
8.0
Order exception Resolution (4)
6.2
Automated Invoice Processing (8)
6.8
Shared Services Payments (4)
6.4
Billings Management (5)
7.1
Customer Receipt Applications (5)
7.1
Customer Collections (6)
6.3
Revenue Recognition (8)
6.8
Cash Management (7)
7.0
Asset Management (8)
6.8
Travel & Expense Management (7)
6.7
Budgetary Control & Encumbrance Accounting (6)
7.3
Period Close (9)
7.0
Transactions Tax (5)
6.8
Subledger Reconciliations (6)
7.2
3rd Party Accounting Systems (4)
6.5
Budgeting and Forecasting (5)
7.1
Project Costing (5)
7.6
Cost Capture (4)
7.7
Capital Project Management (5)
7.8
Customer Invoicing (4)
7.0
Customer Contract Compliance (5)
6.5
Project Revenue Recognition (4)
7.0
Project Financial Performance Analysis (4)
6.8
Project Financials Dashboard (2)
7.5
Real-time Financial Reporting (4)
6.7
Embedded Business Intelligence (2)
6.7
Project Planning Collaboration (1)
8
Project Planning and Scheduling (2)
7.5
Project Manager Dashboard (2)
7.5
Resource Manager Dashboard (2)
7.5
Task Insight for Project Managers (2)
7.5
Project Manager Mobile Functionality (2)
7.0
Team Member Task Collaboration (2)
6.5
Team Member Mobile Functionality (2)
7.5
Project Candidate Search (1)
8
Project Candidate Comparison and Analysis (1)
8
Defineable Resource Pools (2)
8.5
Defineable Resource Pools (2)
8.5
Talent Profiles (2)
7.5
Real-Time Project Reporting (2)
7.0
Absence Management (2)
6.5
Product Lifecycle Management (2)
7.0
Award Lifecycle Management (4)
6.5
Spending Control (4)
7.2
Indirect Cost Management (4)
6.0
Billing (5)
6.1
Sourcing Team Collaboration (4)
7.2
Sourcing Analysis (4)
6.9
Bids Analyzed and Compared (3)
7.1
Catalog Shopping E-Commerce for Employees (2)
7.0
Contract Authoring (3)
6.5
Contract Compliance Management (2)
5.5
Contract History (3)
7.1
Contract Renewal Automation (3)
7.4
Contract Repository (3)
6.8
Contract Standardization and Enforcement (2)
7.0
Electronic Signatures (3)
7.1
Invoice Automated Matching (2)
7.5
Purchasing Risk and Compliance Management (2)
7.0
Requisitions-to-Purchase Orders Integrated (4)
6.8
Spend Compliance Management (3)
6.8
Supplier Assessment (2)
7.0
Supplier Communication and Collaboration (2)
7.5
Supplier Management (3)
7.3
Supplier Portal (3)
7.3
Risk Repository (1)
8
Control Management (1)
7
Control Mapping (1)
8
Control Efficiency Assessments (1)
8
Automated Control Assessments (1)
6
Assessment Capture (1)
8
Issue Detection (1)
8
Automatic Notification (1)
8
Remediation and Certification (1)
8
Transportation Planning and Optimization (2)
8.5
Transportation Sourcing Management (2)
8.0
Transportation Process Integration (2)
7.0
Transportation Execution Management (2)
6.9
Freight Payment Automation (1)
6
Trade Management (1)
6
Forecasting (1)
8
Inventory Planning (1)
8
Performance Monitoring (1)
6

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