• May 19, 2022
  • Subramanyam Sripada
  • 0

The pandemic-related disruption gave rise to behavioural changes that will continue to have an impact even after the pandemic has subsided. Lockdowns and supply chain constraints have pushed businesses of all sizes across industries to evaluate their processes and expedite digital transformation. The new normal will include a mix of remote work and outdated technology with an on-premise footprint that needs significant support and maintenance is unsuitable for such an operating model.

Cloud-based solutions offer evident benefits like virtual maintenance, automatic and effortless updates, and enhancements while providing an intuitive, user-friendly experience. It is also easier for employees and customers to access data and dashboards remotely and while on the go.

A unified cloud-based application like Oracle Cloud ERP provides finance leaders with real-time visibility into their data. It helps them make intelligent business decisions, optimize finance processes, and improve their finance team’s productivity.

Dashboards provide quick insights into the health and performance of your Oracle ERP Cloud applications and help identify anomalies and take corrective measures. You can also create custom dashboards to access the information specific to your needs, drill down into the data, and share the dashboard with other users.

Why Oracle Cloud Applications?

Oracle Cloud Applications allow you to access the same real-time data across your organization. For example, your finance, accounting, HR, sales, marketing, supply chain, and forecasting teams can access the same data on the Oracle Cloud platform in real-time. It reduces IT support across different platforms and allows you to have a more strategic approach and spend less time on routine maintenance and support. This approach will enable you to streamline data and insights across the enterprise, planning effectively and adapting quickly to any internal or external changes. In addition to greater efficiencies, Oracle Cloud Applications ensure standardized business processes, best practice implementation methodologies, and lower IT costs.

Finance Dashboards in Oracle ERP Cloud

Traditionally, senior leadership and the C-Suite struggle with data management. Due to the number of departments involved, the correct data is usually hard to access or is slow to reach the C-Suite.

The CFO dashboard in Oracle ERP Cloud provides real-time, consolidated access to data that can answer critical questions instead of managing data between multiple platforms. Management has real-time access to financial data, which is particularly valuable during uncertainty. Businesses may need access to real-time information to pivot quickly in response to disruption to ensure business continuity.

The Financial Analyst dashboard in Oracle ERP Cloud empowers financial analysts with powerful tools to focus on strategic initiatives instead of struggling with complex spreadsheets. Through continuous, real-time data monitoring, analysts can identify errors in their data and address issues quickly. Oracle ERP Cloud also allows users to drill down into the data in real-time to understand what is working and what is not.

Modelling and Forecasting Capabilities

Oracle Analytics Cloud (OAC) allows users to combine Oracle ERP Cloud data with multiple external data sources to analyse trends and forecast upcoming challenges. The ability to create models and forecasts is a significant benefit for the management, as the system is flexible and allows users to work with the data best suited to their needs. Instead of interpreting data across multiple spreadsheets, accounting departments can use OAC to combine and analyse all the financial information in one place.

Forecasting accurately in this uncertain business environment has become an enormous challenge for businesses. Executives need accurate, real-time information to make the right decisions. Our expert consultants at Rite Software can help you maximize the benefits of modern cloud-based tools like Oracle ERP Cloud and Oracle Analytics Cloud to tackle uncertainty, improve operational efficiencies, and enhance decision-making.

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