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Oracle Financial Consolidation and Close Cloud - Why use it?
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November 20, 2017

Oracle Financial Consolidation and Close Cloud - Why use it?

Score 8 out of 101
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Overall Satisfaction with Oracle Financial Consolidation and Close Cloud

Oracle Financial Consolidation and Close Cloud is being used by our client to manage to close and consolidating and maintain compliance and auditability at the same time. The primary reason why this was chosen over other options is that they already have Oracle Financials, Human Resource Cloud, Sales cloud and Planning and Budgeting cloud and having an Oracle app for this purpose too allows them to have one flawlessly integrated system.
  • Unlike other Fusion cloud products, Financial Consolidation cloud has a lot of best practice configuration built in which ensures that you're up and running in no time.
  • The analytics for Fusion has got to be one of the most important reasons people love Fusion apps. It's extremely potent and the visual graphs are the treat!
  • Offers an end to end solution with features like automated cash flow reporting, multi GAAP reporting, great support for foreign exchange translation adjustments.
  • To realise the true value, you need to have other Oracle Fusion apps to work with.
  • Third party integrations are unreliable, to say the least. The so-called automated extracts and reports fail very frequently.
  • UI could be better. More often than not, the application is quite buggy and unresponsive.
Along with Oracle Oracle Financial Consolidation and Close Cloud, our client also uses Cloud Human Capital Management - Benefit Module and Oracle Planning and Budgeting cloud. Since these systems integrate well with each other, it allows them to plan different aspects of not only finance but also HR and its respective costs in a very efficient manner.
  • The reports and analytics capability has really helped in identifying the flows and the overall situation of finances. Due to this, not only the executives but also the leadership uses the application quite frequently.
  • Even with slow performance and bad UX, the application is pretty easy to use so there is less friction from the employee side in using the application.
  • Not a member of any user groups
None. Majority of our clients already have or are planning to expand their current Oracle Cloud application base hence Oracle Financial Consolidation and Close Cloud was the only option we considered.
If you've been using other Oracle Fusion apps and want to add this new capability, you should definitely look forward to it. While it does have the same issues the other Fusion apps have which is a bad UX and bugs, it is comparatively less buggy. If you're looking for an end to end solution with great reporting capability, go for it.