Oracle Financial Close Management (FCM) helps finance organizations improve the efficiency, timeliness, transparency, and reliability of their financial close and compliance processes. It provides a centralized web-based solution to support all tasks of the financial close such as ledger and sub-ledger close, data loading and mapping, financial consolidation, account reconciliation, and internal and external reporting. Key features include task scheduling and dashboards to monitor close progress, security-driven views tailored for users' roles, and automation capabilities. FCM aims to address challenges faced by finance organizations like lack of visibility, reduced time to complete processing, and expanding regulatory requirements.

1. Product Spotlight:
Oracle Financial Close Management (FCM)
Ernest Iocca, Oracle
RJ Linehan, Innovus Partners

2. Finance Organizations of Today
Key Goals of Financial Close and Compliance Processes
• Improve efficiency and timeliness
• Strengthen financial governance
• Increase transparency and reliability
• Adapt to perpetual change

3. Finance Organizations of Today
Central Challenges of Financial Close
• Inability to improve accuracy of financial
reporting due to lack of visibility
• Failure to reduce time to complete
processing
• Ever expanding breadth of rules and
regulations from regulatory agencies
• Shrinking headcounts supporting additional
work

4. Finance Organizations of Today
Symptoms of Not Addressing Challenges
• Inability to accommodate demands for
transparency and consistency
• Failure to satisfy requirements of
regulatory agencies
• Lack of capacity to reduce workload of
Finance staff

5. Financial Close Process
Data Continuing
GL Close Consolidation Reporting
Collection Transactions
Internal External
Data Sub- Reporting Reporting
Entry & Ledger
Adj. Systems
Consolidation
Process
Business
Events GAAP
Accruals Financial
External
& Reporting Reporting
Interfaces
Prepaids
Intercompany
Eliminations,
Equity/
Minority Cash Flow Footnotes
Business Transformation Estimat and Other and
& Conversion
Interest, Joint
Transact es Ventures, Reporting Disclosures
ions ForEx
Calculations,
Allocations,
Manual Top Side
Closing Management Compliance
Journal Adjustments
Entries Reporting Reporting
Entries
Input Process Output

6. Financial Close - Input
Data Continuing Email Trail
Collection Transactions
Challenges
External
Documents Manual
Data
Entry & • Lack of integrated systems
Data
slows flow of data
Adj. Manual
Transfer
Updates
Business
Events
External
Interfaces
• Absence of automated
Manual
Data
Manual
Updates
auditing capabilities
prevents transparency
User
Transfer
XL
Business Transformation
Transact
ions
& Conversion
User Data
• Manual entries cause
inaccuracies and
Collection
Manual Manual
misalignment
Data
Inbound Journal
Transfer
Flat Entries
Files
Word Docs
Input

7. Financial Close - Process
GL Close Consolidation
Email Trail
Challenges
Sub-
Ledger Manual
• Activities unrelated to
close process occur at
Systems Data
Transfer Consolidation
Process
User
Accruals
&
Database
critical points
Prepaids
Intercompany • Manual intervention and
Eliminations,
Estimat
Equity/
Minority
lack of communication
creates delays
Interest, Joint
es Ventures,
ForEx User
Scheduled
Calculations,
Allocations,
Top Side
XL
• Inability to track
Closing
Entries
Data
Transfer
Adjustments
performance and identify
bottlenecks
Word Docs
Process

8. Financial Close - Output
Reporting Challenges
• Disconnect between
Internal External
Reporting Reporting Email Trail reports and inputs leads
User
Database
to confusion
Financial
Reporting
GAAP
Reporting
• Lack of integration and
Word Docs
accuracy between internal
Cash Flow Footnotes and external reporting
and Other and
Reporting Disclosures causes uncertainty among
users
External
Database
User
• Level-of-effort required to
Management Compliance
XL
Reporting Reporting
satisfy agency filings
Output jeopardizes due dates

9. Oracle Hyperion Financial Close Management
Close the Problem with a Business Solution
• Centralized web-based solution managed by
business users for business users
• Supports all financial close tasks
• Ledger and sub-ledger close
• Data loading and mapping
• Financial consolidation
• Account reconciliation
• Internal and external reporting processes
• Tasks associated with extended financial close

10. Oracle Enterprise Performance Management System
Information
Delivery
EPM and BI
Applications
BI Foundation

11. Oracle Hyperion Financial Close Management
Key Features
• Task scheduling and management feature to track and prioritize
close tasks
• Pre-built, web-based dashboards for monitoring progress of
financial close
• Security-driven views based on users’ tasks (Calendar, Task List,
Gantt)
• Interactive calendars and task lists allowing users to launch
applications and complete tasks
• Support for lights-out process through automation feature
• Roll-forward feature to create new calendars based on prior
financial close
• Control over account reconciliation through the Account
Reconciliation Manager

12. FCM/ARM Demonstration

13. Product Spotlight:
Oracle Financial Close Management
Ernest Iocca, Oracle
RJ Linehan, Innovus Partners