Challenges for Finance & Accounting
The role of Finance & Accounting is becoming increasingly important in the era of Digital Transformation, with the need to provide added value to the business. Today business functions and operations must be aligned to focus on business strategy. While Financial systems are the backbone for effective decision making and accurate reporting, there are many challenges when it comes to building an environment of truly interconnected applications.
However, financial system teams are often facing the challenges of
- spending hours daily maintaining complex processes
- not knowing if financial data and processes are correct and validated between the applications
- not understanding the complexity of custom code, lacking transparency
- not having enough control over their finance applications and Oracle EPM environment
- being exposed to the risk of non-compliance.
Overall this inhibits the agility to quickly adapt to fast-changing business needs and the ability to focus on business strategy.
ICE Cloud – Seamlessly Integrated, Validated and Compliant Financial Data AT ANY POINT IN TIME
While Financial systems are the backbone for effective decision making and accurate reporting, there are many challenges when it comes to building an environment of truly interconnected applications like:
- Oracle EPM / Hyperion:
- Planning & Budgeting Cloud (PBCS) / Hyperion Planning
- Financial Close & Consolidation Cloud (FCCS) / Hyperion Financial Managmenet (HFM)
- Account Reconciliation Cloud (ARCS) / Account Reconciliation Management (ARM)
- Oracle Analytics Cloud (OAC) / Essbase
- Profitability and Cost Management Cloud (PCMCS) / Hyperion Profitability and Cost Management (HPCM)
- Performance Management applications like Anaplan, OneStream, Tagetik, BOARD, Host Analytics
- Business Intelligence platforms like OBIEE, Tableau, Power BI, Business Objects
- CRM systems like Salesforce.com, Oracle CRM, Microsoft Dynamics,
- Human Capital Management applications like Workday, Oracle HCM
See how ICE Cloud addresses these challenges and helps Finance & Accounting teams to dramatically simplify their integration and automation processes so organizations can dedicate more time to adding real business value to their most crucial business processes instead of the operational aspects of integrating and automating data and processes.