Fusion Financials Hits the Spot

Fusion Financials in the CloudMy Oracle E-Business Suite Consultants have been looking at the new Oracle Fusion Financials. Their general comment seems to be that Oracle has got it right at last! Businesses looking for the power and flexibility of a tier 1 finance system but with the usability of simpler tier 2 systems  should certainly consider Oracle’s Fusion Financials. The cloud edition will shortly be available here in Australia and we can’t wait!

Some initial comments from my team:

  • User Guides – complete re-written and understandable (R11/12 are not really).
  • User Interface – standardised across all modules and modern browser views (R12 html screens are still old and slow with the torchs for searching, etc)
  • Reporting  – built in to the application (a shortcoming in R11/12)
  • Analytics  – built in and seem quite useful
  • Customisation – seems to very customisable (R11/12 not. R10 was)
  • Workflow – R11/12 workflow gone and new standard BPM across all apps
  • Cloud – better capability to provision over the cloud
  • MS Office integration
  • Rapid Implementation
  • Invoice Scanning – built into Payables Application
  • Bank reconciliation – finally on one screen you can see System Transactions and bank transactions side by side….
  • End of month  – standardised end of month close across all modules
  • Accounting
    • immediate posting to GL via Sub-ledger
    • on-screen anytime reconciliation of Receivables/Payables accounts (this has been a major pain for business)
  • Accounting/sub-ledger separation – this is evident in inventory costing where you do inventory transaction and seperately the accounting engine does accounting depending on whether its FIFO, Standard, Average, etc

In summary the cloud edition of Fusion Financials seems impressive. Netsuite and SAP Business By Design now have a strong competitor.

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About normanweaver

Norman has 40 years experience of IT and related technologies. He was the founder and Managing Director of the IT Systems Integrator Dataweave Pty Ltd which was acquired by Deloitte in 2015. Norman is also a Director of Synergy & Taikoz Ltd, home of two of Australia's leading percussion ensembles, and a Director of The Royal Prince Alfred Yacht Club, promoting excellence in sailing and supporting disabled and disadvantaged people through sailing.
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