Finance analytics is the process of analyzing financial data to support decision making, planning, forecasting, and reporting. Finance analytics can help organizations improve their financial performance, optimize their resources, reduce risks, and comply with regulations.

However, finance analytics can be challenging due to the complexity and diversity of financial data sources, such as ERP systems, budgeting and planning applications, general ledger systems, and external sources. Moreover, finance analytics requires a robust and flexible BI platform that can deliver timely, accurate, and relevant insights to various stakeholders across the organization.

A Comprehensive Solution for Finance Analytics

Oracle BI Apps is a complete, prebuilt BI solution that delivers intuitive, role-based intelligence throughout an organization. Oracle BI Apps integrates with various data sources, including Oracle Fusion Cloud and On-Premise Applications, E-Business Suite, PeopleSoft, JD Edwards, Siebel, and third party systems. Oracle BI Apps leverages the Oracle BI Foundation, a comprehensive and market-leading BI platform that enables organizations to realize the value of a packaged BI application, such as rapid deployment, lower TCO, and built-in best practices.

One of the key components of Oracle BI Apps is Finance Analytics, which provides comprehensive and actionable insights into the financial performance and operations of an organization. Finance Analytics covers various functional areas, such as general ledger, payables, receivables, fixed assets, cash management, treasury, projects, and profitability. Finance Analytics enables users to monitor key financial metrics, analyze trends and variances, drill down to transactional details, perform what-if scenarios, and create custom reports and dashboards.

In this article, we will explore some of the features and benefits of Finance Analytics and how it can help organizations achieve their financial goals.

Features and Benefits of Finance Analytics

Finance Analytics provides a rich set of features and benefits that can help organizations improve their financial management and decision making. Some of these features and benefits are:

• Prebuilt data models and ETL processes that extract, transform, and load data from various source systems into a common data warehouse. This ensures data quality, consistency, and security across the organization.
• Prebuilt metrics, calculations, dimensions, hierarchies, and attributes that enable users to analyze financial data from multiple perspectives and levels of granularity.
• Prebuilt dashboards and reports that provide interactive and visual representations of financial data. Users can easily access key performance indicators (KPIs), trends, comparisons, benchmarks, forecasts, alerts, and exceptions.
• Prebuilt security model that ensures data access is controlled by user roles and privileges. Users can only see the data that they are authorized to see based on their responsibilities and functions.
• Prebuilt integration with Oracle Essbase for E-Business Suite applications that enables users to load GL balances and budgets data from the data warehouse into the Essbase cube. Users can also load accounting segment hierarchies (value set hierarchies in EBS terminology) and FSG row set hierarchies into the cube. This allows users to perform dynamic aggregation and drill down on the data using Oracle BI Enterprise Edition.
• Prebuilt integration with Oracle Financials Cloud that enables users to access predefined analyses, dashboards, and reports that help them meet financial and business intelligence requirements. Users can also build user-defined or real-time analytics and reports using various reporting tools.
• Prebuilt integration with Oracle Analytical Applications for Risk and Finance that enables users to leverage advanced analytics and data management tools to drive profitability, accelerate financial reporting, mitigate risk, and improve compliance.

Conclusion

Finance Analytics is a powerful and comprehensive solution that helps organizations gain more insight and greater value from their financial data. Finance Analytics enables users to monitor, analyze, and report on their financial performance and operations using a robust and flexible BI platform. Finance Analytics also integrates with various Oracle and third party applications to provide a holistic view of the financial health and status of an organization.

If you are interested in learning more about Finance Analytics or other Oracle BI Applications, please visit https://www.oracle.com/business-analytics/business-intelligence/technologies/bi-applications/ or contact us for a demo.