Automating the financial consolidation and close process can significantly save time and reduce errors. Leveraging automation technology helps keep financial headcounts in check while accelerating and streamlining the close process. Businesses are turning to automation solutions that facilitate faster and more efficient financial consolidation to meet growing demands. The Oracle Financial Consolidation and Close Cloud solution uses best practices to streamline consolidation and closing, making the process easier to adopt, configure, and ensuring compliance while driving cost savings and transparency.

1. Automating Financial Consolidation
and Close Cloud Solution

2. Introduction
Financial reporting and analysis has been a vital process for the Finance
and Accounting team and often a complex Corporate Performance
Management (CPM) process. It is important for the team to ensure that
all items are properly reconciled and accounts are ready to be certified.
Most of the organizations believe in conducting the financial process
manually which can probably be prone to errors in spreadsheets but
when this process is automated it can significantly save a lot of time.

3. Why are organizations opting for financial
consolidation and close cloud solutions?
Automation can make closing the books easier while providing a real time view
of where your company stands.
If financial close is done manually, you might never be sure of missed tasks,
unrecorded sales, data entry mistakes until the end. By leveraging this
automation technology in the business process can help to keep the financial
headcount in check, accelerate and streamline financial close processes by
making it better fast and more efficient.
This process also helps the organizations who want to provide stakeholders and
investors with better information and state of the organization without
compromising on the accuracy of the data.
Businesses are turning to automation solutions that facilitate faster, more
efficient financial consolidation to meet these ever-growing demands.

4. Implementing Oracle Financial Consolidation
and Close Cloud
The rewards are high for those businesses that move on to automating the
financial close process.
This automation cloud solution uses best practices to streamline the
consolidation and close process. The solution is relatively easy to adopt and
easily configurable.
While driving significant cost and saving time, the process ensures that the data
is compliant, timely and transparent which makes it easier for the company to
meet the reporting requirements.

5. Advantages of implementing automation:
Give you increased visibility, gaining you real-time insights into the bottlenecks
and areas of high risk where financial departments struggle
Generating financial reports manually without automation and can significantly
decrease the timeline and creates reports in just a few minutes.
Business can be automatically connected to a single system storing all
information. Simplify reporting, planning and other analytical functions. This
can result in quick insights into your company’s overall finances.
Your workforce will be able to operate fully functionally and as minimally
burdensome as possible.