Oracle Financials Cloud-Pros and Cons

General Information

Oracle Financials Cloud comes with efficient features which includes controlling invoices, payments and supplier balances. Customers are also capable of accounting and tracking different fixed assets to make good use of the data. Financials Cloud is able to manage cash positions, bank accounts, and even cash forecasts. The software is also able to reduce errors by automate imaging using OCR. Financials Cloud comes with a built-in registration system, which is capable of managing multiple financial records.

The software also offers the ability to scale more complex plans as a business grows, as well as allowing integration with third party softwares to enhance results. Financials Cloud uses workflow checks on invoices, and also has automated accounting tasks to save time for individuals in businesses. Users can also optimize and restructure an entire financial system if they wish.

Newer Innovations in Oracle Financials Cloud

Financials Cloud comes with a business intelligence module, which identifies financial trends around the market and helps the business to adapt to them. Moreover, expenses can be applied through the use of a mobile phone, and the information is updated in real time, allowing users to monitor their results anywhere.

Financials Cloud has support for mileage expenses with location or zone, as well as being able to integrate with external systems using different API resources.

Users can manage personally identifiable information in financials, as well as having automatic reconciliation of rejected payments.

Financials Cloud offers a workflow transactions listing report to help users keep track of the essentials, as well as being able to deliver balance forwards simply by using email.

Why we use Financials Cloud?

The reason why Financials Cloud is critical for businesses has to do with it being accessible from anywhere, which can help businesses keep track of their results and adapting to them quickly. Financials Cloud can also be used with multiple devices simultaneously.

Users can view everything going on, from statistics to financials, in real time, as well as being able to speed up overall financial processes of different companies.

Industry Positive Comments

Financials Cloud comes with multiple positive comments from the industry, saying that reports are well received, that are quickly and easily adjusted to need of a company, as well as having huge variety of features. The software provides flexible and effective reporting for businesses, as well as concise invoice reporting. Financials Cloud also has a user interface that is praised by many in the industry

Needs Improvement

The software occasionally gets slow once computing multiple tasks, and it is difficult to learn how to use it from the get go, which might create problems in starting a business with this software. Financials Cloud comes with features that are mentioned, but are not even active, which might confuse many users. Users have also complained that different tools have performance problems, and that it is very hard to change licensing without spending a lot of time and money.

Similar Products in the Industry

Some of the similar search products in the industry are SAP ERP, Sage Intacct, Xero, SAP HANA, Infor ERP, SAP Business One, Microsoft Dynamics 365, Oracle Financials, SAP Business ByDesign and Epicor Prophet 21.

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