Oracle Financials for Utilities
November 22, 2016
Oracle Financials for Utilities
Score 9 out of 10
Vetted Review
Verified User
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.