Oracle Financials for Utilities
Ryan Payne | TrustRadius Reviewer
November 22, 2016

Oracle Financials for Utilities

Score 9 out of 10
Vetted Review
Verified User
Review Source

Modules Used

  • Asset Lifecycle Management
  • Financial Control & Reporting
  • Financial Analytics
  • Risk
  • and Compliance
  • Lease and Finance Management
  • Procure-To-Pay
  • Travel and Expense Management

Overall Satisfaction with Oracle Financials

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.
  • More accurate financial reporting.
  • More integrated and automated environment across a large portion of the organization.
  • More in depth knowledge of how projects affect our financial position.
Oracle Financials is a better fit for companies utilizing applications from numerous providers or other Oracle products. It integrates very well. SAP is also a robust product but functions better in conjunction with other SAP modules and products. Oracle Financials can be set up with minimal configuration for clients whose business processes align with the package, or who have the ability to adjust their processes to fit an out of the box implementation. Oracle Financials and SAP are both highly configurable and customizable platforms but Oracle's product is more robust and ready to use as delivered.
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.

Oracle Cloud ERP Feature Ratings

Accounts payable
9
Accounts receivable
8
Inventory tracking
9
Automatic reordering
9
Location management
10
Manufacturing module
10
Pricing
9
Order entry
8
Credit card processing
9
Cost of goods sold
9
Pay calculation
8
Benefit plan administration
8
Direct deposit files
8
Salary revision and increment management
9
Reimbursement management
9
Dashboards
7
Standard reports
8
Custom reports
9
API for custom integration
9
Plug-ins
7
Role-based user permissions
10
Single sign-on capability
8