The financial organization face mounting pressure to increase the accuracy of financial reporting while decreasing turnaround time. With limited resources, finance organizations must deliver accurate, useful, and timely data to an increasing number of stakeholders. Improving the speed of the financial close process is not enough because there is a competing demand for improved financial governance and increased transparency and reliability of data.
During the financial close process, each step has dependencies on others, thus, pushing each subsequent activity back which results in more manual steps and decreased transparency.
In order to assist the Finance organization from the closing of the sub ledgers to the financial and regulatory report filings, Oracle has provided a broad set of technology solutions and capabilities which provides integrated software to assist with the full range of the financial close process.
Oracle Hyperion Financial Close Management
The Oracle Hyperion Financial Close Management application is built for centralized, web-based management of period-end close activities across the extended financial close cycle. The first application of its kind, Oracle Hyperion Financial Close Management will help manage all financial close cycle tasks including ledger and sub ledger close, data loading and mapping, financial consolidation, reconciliation, tax/treasury and internal and external reporting processes – any task associated with the extended financial close.