[Blog] Key Features of Oracle Financial Consolidation & Close Cloud Service (FCCS)
Oracle Financial Consolidation and Close Cloud Service (FCCS) is the newest addition to the Oracle EPM Cloud. FCCS is a solution to streamline the accounting activities associated with the month-end financial close. FCCS leverages Oracle's experience with financial processes. This article outlines the key areas of Oracle FCCS:
Top Features of FCCS including Integrated Close Analytics and Improved User Experience
The FCCS Transparent Close Processes
Integrated Workflow
Process-concentric Financial Close
FCCS Consolidation & Reporting Process
What Does FCCS Include?
Features of Financial Consolidation & Close Cloud Services
Close and Consolidation : Cash flow, Balance sheet, Income statement, Rollovers, Call-to-Actions, and more are automatically calculated. Leverage multi-GAAP driven with full currency support, inter-company eliminations, equity eliminations, adjustments, and applications detailed data tracking.
Process and Workflow : Provide enterprise level collaboration with dynamic, data-driven approval orchestration. Ensure audit compliance for tasks like Journal Adjustment with enforced segregation of duties, powerful scheduling capabilities, role and data access rights
Integration : Built-in connectivity to core source systems, such as ERP and others, for consolidation and close needs.
Best Practice Consolidation Out-of-the-Box : Pre-configured consolidation model making it easy to meet global reporting requirements like IFRS and GAAP, helping drive significant cost and time savings
User Experience : Provide real-time insight and access to data with interactive process and financial dashboards
Transparent Reporting : Financial consolidation data with pre-built cash flow, balance sheet, and income statement lets you report with confidence.
End to End Close Process for FCCS
Application Creation Wizard
Updated User Interface
Seamless Data Integration
Consolidation
Inter-company Eliminations
Automated and Auto-reversing Journals with Workflow
Built in Foreign Exchange/Currency Translation
Automated Cash Flow Reporting
Multi-GAAP Reporting
Detailed Data Source Tracking
Up-gradable Framework
Close Process Management
Supplemental Details
Reporting
Learn more: https://www.jadeglobal.com/blog/key-a...
Also, follow us on:
http://www.jadeglobal.com
/ jade-global
/ jadeglobal
/ jadeglobal