Plus and Minus of Oracle Financials
Anonymous | TrustRadius Reviewer
March 02, 2018

Plus and Minus of Oracle Financials

Score 8 out of 10
Vetted Review
Verified User
Review Source

Modules Used

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

Overall Satisfaction with Oracle Financials

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.
  • as a non-profit this is not something we look at.
Yes - HUIG (Health User Information Group) is a very active and valuable connection. The local group in Denver has a membership charge and that will not happen from this non-profit. So we do not participate since I will not pay out of my pocket, it's not needed.
The annual meeting is in June and over 600+ attend every year. They have thousands of members and you can get great info on how others attack issues.
Oracle has a strong Grants module and that is why the selection.
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.

Oracle Financials Feature Ratings

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