Best software for financial management and customization
January 09, 2021

Best software for financial management and customization

Ashish Kumar Das | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source

Modules Used

  • Oracle Financials Cloud

Overall Satisfaction with Oracle Cloud ERP

We were trying to use business process automation so that complex workflows can be created and to simplify the visualization data using big-data-enabled technology. You can have access to different sets of data and all data points can be used in reports. It will also enable visualization to most of your presentations and datasets. It is greatly preferable for a dynamic and scalable products with visual reports at frequent intervals of time.
  • Best suited software for financial management and customization
  • Unified tool to access global data
  • Different versions have been introduced to meet different challenges
  • High-end visualization and big-data-enabled data pooling
  • Complex for freshers
  • Multi-level hopping to get data
  • Reports need more customization options for business support
  • Cloud operations can take some time
Oracle Cloud ERP is a software suite, which has various different components. It can be used to fix complex and tough business scenarios. Revenue management provides automated revenue collection features, which are compatible with ASC 606 accounting standards. It has a very simple and interactive framework to automate and identify different customer-oriented details.
  • Best suited for business management
  • Easily used to work with any source application
  • Robust data integration is provided by third party
  • Automation and workflow capability for revenue management
Yes, I am an active member of the community, and we learn different new features that Oracle Cloud ERP introduces. I also take the opportunity to discuss various upcoming features and whitepaper articles with different peers.
Oracle ERP cloud has multiple offerings--revenue management, automated financial process, real-time access to data, easy integration, etc. All these features helped us chose Oracle Cloud ERP as our best choice to go ahead with our application. It also has features like busing experience with built-in analytics support for checking cost issues and managing bills.
Yes - I am an active member in an Oracle user group and discuss the latest features with the community, share views on future releases, and make it more scalable and future ready.
I will prepare for the certifications.
Oracle Cloud ERP offers a simple but powerful software to manage different verticals of business management and features to manage procurement, financials, and risk management. These are a few outstanding features and capabilities that are missing from other tools.
If you are looking to gain useful and interactive visualization for your financial management product, it will be able to provide you with business-centric and specific visual reports. And due to being cloud based, it can be accessible from a single place and hence can add value to your business. Oracle Cloud ERP has various features which support cost, financial knowledge, and different metrics. You can also compare different data sets to better understand and help to take business calls.

Oracle Cloud ERP Feature Ratings

Accounts payable
7
Accounts receivable
8
Global Financial Support
7
Primary and Secondary Ledgers
7
Intercompany Accounting
8
Localizations
8
Journals and Reconciliations
6
Enterprise Accounting
7
Configurable Accounting
8
Centralized Rules Framework
7
Standardized Processes
7
Automated Invoice Processing
8
Shared Services Payments
9
Billings Management
10
Customer Receipt Applications
9
Customer Collections
8
Revenue Recognition
9
Cash Management
7
Asset Management
6
Travel & Expense Management
6
Budgetary Control & Encumbrance Accounting
8
Period Close
6
Transactions Tax
7
Subledger Reconciliations
7
3rd Party Accounting Systems
8
Inventory tracking
8
Automatic reordering
7
Location management
7
Manufacturing module
9
Pricing
9
Order entry
8
Credit card processing
8
Cost of goods sold
9
Order Orchestration
9
End-to-end order visibility
8
Order exception Resolution
8
Dashboards
8
Standard reports
9
Custom reports
9
API for custom integration
9
Plug-ins
8
Role-based user permissions
8
Single sign-on capability
4
Award Lifecycle Management
8
Spending Control
8
Indirect Cost Management
Not Rated
Billing
7
Budgeting and Forecasting
9
Project Costing
9
Cost Capture
Not Rated
Capital Project Management
8
Customer Invoicing
8
Customer Contract Compliance
7
Project Revenue Recognition
Not Rated
Project Financial Performance Analysis
8
Project Financials Dashboard
8
Real-time Financial Reporting
9
Embedded Business Intelligence
9
Project Planning Collaboration
Not Rated
Project Planning and Scheduling
8
Project Manager Dashboard
8
Resource Manager Dashboard
6
Task Insight for Project Managers
8
Project Manager Mobile Functionality
8
Team Member Task Collaboration
9
Team Member Mobile Functionality
8
Project Candidate Search
2
Project Candidate Comparison and Analysis
7
Defineable Resource Pools
5
Defineable Resource Pools
5
Talent Profiles
5
Real-Time Project Reporting
9
Absence Management
6
Product Lifecycle Management
6
Sourcing Team Collaboration
7
Sourcing Analysis
8
Bids Analyzed and Compared
8
Catalog Shopping E-Commerce for Employees
6
Contract Authoring
6
Contract Compliance Management
7
Contract History
7
Contract Renewal Automation
6
Contract Repository
4
Contract Standardization and Enforcement
6
Electronic Signatures
6
Invoice Automated Matching
6
Purchasing Risk and Compliance Management
8
Requisitions-to-Purchase Orders Integrated
6
Spend Compliance Management
8
Supplier Assessment
6
Supplier Communication and Collaboration
6
Supplier Management
8
Supplier Portal
8
Risk Repository
8
Control Management
8
Control Mapping
Not Rated
Control Efficiency Assessments
6
Automated Control Assessments
8
Assessment Capture
7
Issue Detection
8
Automatic Notification
7
Remediation and Certification
7
Transportation Planning and Optimization
9
Transportation Sourcing Management
8
Transportation Process Integration
7
Transportation Execution Management
8
Freight Payment Automation
6
Trade Management
8
Trade Regulatory Compliance Management
8
Customs Entry Management
8
Customs Document Management
8
Customs Document Collaboration
9
Fulfillment Management
7
Inventory Visibility
7
Warehouse Workforce Management
8
Production Process Design
8
Supply Chain Business Flows
7
Production Management
7
Contracted Manufacturing Management
8
Configuration Management
8
Work Definition
8
Work Execution
8
Advanced Fulfillment
8
Manufacturing Costs
8
Forecasting
8
Inventory Planning
8
Multi-tier Supply Chain Planning
8
Performance Monitoring
8
Ideation Management
8
Requirements Management
3
Proposal Management
4
Innovation Portfolio Management
6
Product Master Data Management
8
Vendor Portal
8
Project Portfolio Management
7