Wednesday, August 11, 2004
Improving the Transparency and Auditability of your Corporation with Oracle E-Business Suite
This post reviews a presentation given at the Oracle OpenWorld Melbourne 2004 Conference by Folia Grace, Product Director, Enterprise Resource Planning, Oracle Corporation.
This presentation, entitled Improve the Transparency and Auditability of your Corporation (2.10MB), attracted my interest primarily because it had some information on Enterprise Planning Budgeting which I understand is destined to replace Oracle Financial Analyzer (OFA). The presentation begins by outlining what transparency and auditability involves, namely: -
- Auditability of Financial Results
- Auditability of the Process underlying those results
- Clarity of results and processes to all stakeholders:
It states that having access to information is not what’s most important, it’s whether the information is useful that counts. The main portion of the presentation relates to how you can use Oracle Applications to improve efficiency, control and data transparency. Efficiency is achieved by the Oracle Information Architecture which has the following characteristics: -
Unified Data Model
The Unified Data Model provides a single definition of customers, suppliers, partners, employees, and business events. This single source of truth, throughout the organisation, means that the information customers use to make decisions is accurate and timely.
Global means that all data, worldwide, are consolidated into a single instance. The Oracle E-Business Suite handles multiple currencies, languages and different security needs of different countries. This means that costs are reduced, by consolidation of data centre’s and data administration, and the quality of the information is improved.
The presenter goes on to highlight how Controls are improved by using: -
- the Interface Data Transformer (IDT)
- Business Events
- the Currency Rates Manager
- the Global Intercompany System and
- Journal Approvals workflow
Data Transparency is said to be achieved by the following Oracle Reporting and Analysis Tools: -
- Daily Operational Management Reporting - DBI: Pre-built role-based BI portal pages and management reports, drill-downs, simplified architecture
- Financial Reporting and Analysis - EPB, FSG: Integrated Financial Reporting and Analysis with drill-down.
- Planning, Budgeting and Forecasting - EPB: Streamlined enterprise planning and budgeting, on-going performance monitoring
The Key Benefits of Enterprise Planning and Budgeting are stated as: -
- Fully integrated financial reporting, analysis, consolidation, planning, budgeting, and forecasting processes
- ‘Real-time’ post from GL
- Advanced multi-dimensional, multi-level reporting UI in html and export in Excel
- Easy reporting with different hierarchy versions
- Full drilldown to source transaction details
The presentation has some nice EPB screen shots which is the first time I have actually seen what the application might look like - until now all I’ve heard was the usual marketing talk. I wonder how easy it is to get it working. I would be interested in receiving any comments from readers and authors that relate to EPB, especially those who might be involved in the early adopter or beta programme for this particular product.