- October 23, 2013
- Posted by: admin
- Category: Blog
Financial Management has been in the ‘Agenda’ for businesses for a long time now, and programs have been developed to make money matters less daunting and easy to manage. Yet, when the systems are asked to do a wee bit more than the usual, they struggle! Well, that makes sense – the conventional operational reporting that businesses resort to is quite disruptive. Ideally, in today’s world where the Big data has become the big boss, Financial Management systems should be able to integrate the business information and accounting information together and produce smart results.
Is it enough?
To accomplish the objectives of the organization in such a manner that that there is absolutely efficient and effective management of money is what Financial Management is all about. But the question that bubbles up is, “Is that enough?” The methodologies used to raise the capital and its optimum allocation – long term budgets, and the current assets, everything matters to the organization but to gain that competitive edge, companies need a little extra zing in their Financial Management Systems – and that is to have Business Intelligence and Financials work together to provide something smartly worth-the-while!
What does the General Ledger do?
The Basic Accounting cycle of General Ledger is
- Open the period
- Receive data
- Create Journals/Reverse Journals
- Post Journals
- Run Reports
- Close Accounting Period
General Ledger Module will record all the financial information in the form of journal entries. It will create journal entries for all the information coming in an then post it to the final set of books. General Ledger System can receive information from Oracle Systems and Non-Oracle Systems both.
Oracle General Ledger – a smart choice!
The Oracle General Ledger provides highly automated financial processing, importing and posting 42 million journal lines per hour. It is the fastest and most scalable general ledger on the market, providing tools for effective management control and real-time visibility to financial results — everything you need to meet financial compliance and improve your bottom line. Of course, incorporating that with the entire Oracle E-Business Suite enhances the value all the more. This complete package will drive better decision-making, sustainable financial discipline, regulatory compliance, and optimized business processes at the lowest cost.
Care for a Fully integrated solution?
At Ephlux, we have been working with Oracle’s E-Business Suite and providing financial solutions to companies – and making them ‘money’ happy. The cumulative experience of our team on functional consulting, techno-functional consulting, OAF customization/extension, SOA integration, ADF development and Oracle Fusion apps has given us that edge of a solution that your company needs.