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Cloud based financial solution from Oracle
Updated March 17, 2020

Cloud based financial solution from Oracle

Anonymous | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Modules Used

  • Oracle Financials Cloud

Overall Satisfaction with Oracle ERP Cloud

Oracle Financial Cloud is the cloud version of the already popular Oracle EBS solution. It helps our clients standardize and automate financial processes.
  • Automated journal entries based on custom rules
  • Excellent reporting and dashboards which business users can use without much technical knowledge
  • Seamless Integration with other EBS and cloud modules
  • The support can sometimes take a long time to resolve issues
  • Oracle cloud modules are newer so extensive online reference like EBS is not available
  • There is a learning curve to Oracle cloud as some control are different from EBS
  • Overhead associated with maintaining an on-premise solution is completely removed.
  • Manual effort to create reports and dashboards via Excel spreadsheets is not needed. This solution has very powerful reports and dashboards capabilities.
  • Overall cost of getting extended support from Oracle may be high.
Some clients do favor an on premise solution more than Oracle Financials Cloud. However, the below points work in favor of Oracle Financial cloud.

  1. No overhead of maintaining an on premise solution.

  2. Better reporting capabilities with the cloud.

  3. Has out of box compliance with most regulations and financial standards.
  4. Oracle cloud can be accessed anywhere and doesn't need installation, hardware, etc.
It's well suited for clients who have a large operation and need good reporting and dashboard utility. Companies with very small data needs may not benefit as much from a cloud solution like this.

Oracle Fusion Cloud ERP Feature Ratings

7.7
Accounts payable
7
Accounts receivable
7
Global Financial Support
8
Primary and Secondary Ledgers
8
Journals and Reconciliations
8
Configurable Accounting
8
Standardized Processes
8
Subledger and Financial Process ()
Not Rated
9.0
Inventory tracking
9
Automatic reordering
Not Rated
Location management
Not Rated
8.3
Pricing
8
Order entry
8
Credit card processing
9
Cost of goods sold
8
Order Orchestration
Not Rated
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
8.3
Dashboards
8
Standard reports
8
Custom reports
9
8.0
API for custom integration
8
Plug-ins
Not Rated
8.5
Role-based user permissions
8
Single sign-on capability
9
Grants Management ()
Not Rated
Project Financial Management ()
Not Rated
Project Execution Management ()
Not Rated
Procurement ()
Not Rated
Risk Management ()
Not Rated
Logistics ()
Not Rated
Manufacturing ()
Not Rated
Supply Chain ()
Not Rated
Product Lifecycle Management ()
Not Rated

Decision Factors & Implementation

Yes - The client was earlier using Oracle EBS and wanted to start using Oracle's cloud solution. They wanted to start using cloud so that their over all infrastructure costs are reduced and they can use a per user type of system. Also, since there is less scope for customization in cloud, they would be able to run the project with a leaner team after go live.
  • Price
  • Product Features
  • Product Usability
  • Existing Relationship with the Vendor
The most important factor was that Oracle Cloud solution has a lot of point and click and configuration based features. This means that the client could keep a leaner technical team post go live and rely on Oracle support for most post-production support. Also, business users were comfortable using the point and click method of creating reports.