If your organization is still running on Oracle HFM, you might be pushing legacy software well past its prime. From manual workarounds to delayed closes and mounting IT overhead, HFM is starting to show its age. Enter Oracle FCCS—the high-performance, cloud-based upgrade built to streamline your close, cut costs, and deliver real-time financial insights.
Let's explore how making the move to FCCS can put your finance team back in the fast lane.
1. Lower Total Cost of Ownership (TCO)
- No hardware or infrastructure costs—Oracle hosts everything in the cloud.
- Automatic upgrades and patches—no need to pay for or schedule manual upgrades.
- Reduced IT dependency—free up internal resources from maintaining servers and managing downtime.
2. Faster Close & Consolidation Cycles
- Prebuilt consolidation logic: Out-of-the-box features for currency translation, intercompany eliminations, and ownership management.
- Built-in close manager: Track close tasks, assign owners, and monitor status in real-time.
- Automation: Streamline manual processes and reduce cycle times.
3. Improved Reporting & Visibility
- Real-time dashboards and analytics for faster decision-making.
- Built-in financial reporting tools (e.g., Narrative Reporting integration).
- Drill-through capabilities to source data.
4. Enhanced Security & Compliance
- Oracle’s cloud security and compliance standards (SOC, GDPR, etc.).
- Role-based access and audit trails are included automatically.
- Built-in validations and controls ensure data integrity and audit readiness.
5. Scalability & Flexibility
- Seamlessly supports growth, acquisitions, and organizational change without needing to overhaul infrastructure.
- Easily scalable for global organizations—accessible anywhere, anytime.
- Built for multi-currency, multi-entity, and multi-GAAP reporting.
6. Integration with Oracle EPM Cloud Suite
Native integration with:
- Planning for budgeting and forecasting
- Account Reconciliation
- Narrative Reporting
- Single platform = fewer silos and better data consistency.
7. Continuous Innovation
- Oracle pushes monthly updates with new features, bug fixes, and enhancements.
- Gain access to the latest AI, ML, and automation tools—without waiting for long upgrade cycles.
☎️Want to see how these features can drive results in your environment? Let’s talk.
✅ Summary: Key Gains from Switching HFM to FCCS
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Gain
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Impact
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|---|---|
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💰 Reduced IT costs
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No hardware, patching, or upgrades to manage
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⚡ Faster close process
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Automation, built-in logic, task management
|
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📊 Real-time insights
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Modern reporting, dashboards, drill-through
|
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🔐 Stronger compliance
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Oracle cloud security, audit-ready controls
|
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🌍 Global scalability
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Anywhere access, multi-entity, multi-GAAP
|
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🔄 Future-ready
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Always on the latest version with continuous innovation
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