What You Must Know About Oracle E-Business Suite Financial Management?

Oracle Applications comprise the business software offered by Oracle Corporation. Oracle Corporation offers numerous functional modules like Oracle Financials, Oracle SCM, Oracle HRMS, Oracle Projects, Oracle Procurement, Oracle CRM and so on and uses the Oracle RDBMS at the back-end.

Oracle’s E-Business Suite

Oracle’s E-business suite which is also known as EB-suite or EBS or Applications is a collection of ERP (Enterprise Resource Planning), CRM (Customer Relationship Management) and SCM (Supply- Chain Management) applications offered by Oracle. Some of these applications are developed by Oracle whereas few are acquired applications.

Oracle E-Business Suite offers hundreds of cross-industry capabilities with the ERP, CRM and SCM. It aims to offer the applications which help customers to manage their organizational needs in this very competitive global business. Software investment in Oracle Corporation is highly regarded with its Unlimited Strategy. Oracle Corporation provides continuous support and enhancements thereby extending the value of investment. Oracle’s E-business suite offers most comprehensive and integrated suite of applications that help organizations take improvised decisions, reduce expenses and boost the overall performance.

Oracle E-Business Suite Financial Management

Oracle’s E-Business Suite offers a group of integrated financial applications which are used globally for ERP or CRM or SCM. These applications are grouped into specific integrated modules called ‘suites’ which are intended to carry out specific business processes.  

Such financial modules are listed below:

• Oracle General Ledger

• Oracle Assets

• Oracle Payables

• Oracle Receivables

• Oracle Tabs

• Oracle Cash Management

The suite which requires a Qualifying Specialization, streamlines and automates the financial processes of an Organization. The suite is very useful for daily business processes and financial management.

One has to be thorough with the following topics in order to be recognized as a Qualified Specialist in Oracle’s Financial Management Suite:

• System Administration

• General Management

• Internet Expenses

• E-Business Tax

• iReceivables and Advanced Collections

Being a specialist in these areas, one could gain advanced knowledge in the following areas: General Ledger Management, Order to Cash, Asset Management and Procure to Pay.

Key Processes in Oracle E-Business Financial Management Suite

• Asset Lifecycle Management

It enables the organizations to improve productivity, align the value chain and enforce compliance.

• Cash & Treasury Management

It helps to manage core treasury of the Organization efficiently and ensure profit and control. It includes features to manage liquidity of funds, interest rate and foreign exchange risk.

• Credit-To-Cash

It enables the organization to increase working capital efficiency. It offers an integrated business process which enables the enterprise to lower DSO, maintain fiscal discipline and ensure customer satisfaction.

• Financial Control & Reporting

It provides a complete suite to assist the whole process of financial control and reporting. It starts with creating and managing transactions and ends with consolidation and reporting.

• Financial Analytics

It assists the front-line managers by providing complete and updated information all the times on their department matters like expenses, revenue contributions etc.  

• Governance, Risk & Compliance

1. Provides insight into the statuses of all GRC activities in the enterprise.

1. Provides end-to-end support for GRC processes.

1. Provide control across business apps.

• Lease and Finance Management

• Provides end-to-end automation and growth for lease and loan modules of an enterprise.

•  It helps the enterprise to increase their revenues using IT and enables them to implement and achieve strategic goals.

• Helps expand business in both existing and new markets.

• Enhances business relationships among customers, investors and vendors.

• Manages risk-based returns and improves the asset management process.

• Procure-To-Pay

1. It helps the enterprise gain profits on the invested capital by linking purchasing and payable modules. 

1. Helps to reduce production cost, improve working capital and margins, streamline the processes and optimize asset usage.

• Travel and Expense Management

It automates and streamlines the processes associated with expense report approval and expense management. With this suite, the enterprises can efficiently manage and reduce the time and effort associated with the process. The modules include submission, approval, process and pay expense reports.