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Oracle EPM & BI Blog

3 Signs You Need to Automate Your Account Reconciliation Process


For most organizations, the account reconciliation process is manual, time consuming, and a major bottleneck in the financial close process. Medium to large companies commonly reconcile thousands of accounts during the quarter-end or month-end close, yet 65 percent rely on manual methods to determine whether adjustments are required

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How Hyperion Helps with Year-End Close

It’s the beginning of the fourth quarter. You’ve just finished yet another quarter-end close — the last thing you want to think about is year-end.

But it’s there, looming over your head, just like all the Christmas shopping that’s coming up fast. But, what if year-end close didn’t have to be so similar to the hellish nightmare that is shopping at the mall in December? What if year-end close could be peaceful?

Fortunately, there are tools to help — not just with year-end, but month-end and quarter-end close as well. If you’re shopping for a solution to help you speed up your close process, there are several Oracle tools (on-prem and in the cloud) that you should consider.

The Oracle on-prem financial close tools include:

The cloud-based Oracle financial close tools include:

In this blog post, you’ll get a brief overview of each tool, telling you how they can help you have a stress-free close process. You’ll also find free resources to dive deeper into each tool.

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The Best Account Reconciliation Tool? Oracle ARM (3 Reasons Why)

If you’re in the market for an account reconciliation solution, you’re probably feeling the pain points of manual processes. Fragmented data. Lack of visibility into progress. Time-consuming reconciliations that cause a major bottleneck in the financial close process.

The costly risks of manual methods — missing or lost reconciliations, unreconciled accounts, improper use of roll-forwards, and insufficient justification or documentation — can be prevented by automating your account reconciliation process. The question isn’t whether you should protect your organization with an account reconciliation tool, but which tool is best.

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BlackLine vs. Oracle Account Reconciliation (ARM & ARCS)

Choosing a solution to automate a process in your organization is easier said than done. There is an abundance of applications out there and you’re tasked with finding the right tool for your team to use.

When it comes to accounting tools to automate your account reconciliation process, there are several big names. In this blog post, we’ll compare two of those: BlackLine and Oracle’s Account Reconciliation tools — Oracle Account Reconciliation Manager (ARM) and Oracle’s Account Reconciliation Cloud Service (ARCS).

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10 New Features in Hyperion Financial Close Management 11.1.2.4 Patch Set Update 200

In 11.1.2.4 patch set 4 update 200, several new features and enhancements make Oracle Financial Close Management faster, more powerful, and easier for both users and administrators.

The first application of its kind, FCM helps businesses manage all financial close cycle tasks, including ledger and sub-ledger close, data loading and mapping, financial consolidation, account reconciliation, tax/treasury, and internal and external reporting processes — any task associated with the extended financial close. FCM includes two modules, Oracle Account Reconciliation Manager (ARM) and Close Manager.

The following are highlights of the 200 update:

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ARCS Update – Features for July 2016

With each Oracle Account Reconciliation Cloud Service (ARCS) update, the implementation strategy changes due to increased functionality. Oracle has invested the time and effort to make each PSU game changing. In this blog, we’ll look at the latest PSU for ARCS.

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Get the Most from Oracle ARM & ARCS: Automate Your Accounting Process


Spreadsheets used for account reconciliations are usually portrayed as the culprit in slowing down the financial close process. The simple truth is it’s not Excel’s fault — spreadsheets weren’t specifically designed as an account reconciliation tool.

Whenever I demonstrate Oracle Hyperion account reconciliation solutions — Account Reconciliation Manager (ARM) and Account Reconciliation Cloud Solution (ARCS) — I frequently hear the same thing, “The application looks easy and is pretty straightforward.” During the training phase, end users almost always remark how simple the process is to reconcile.

Performing reconciliations in ARM and ARCS is a push button solution. The magic is in the activity that occurs through automation and integration leading up to the preparer clicking the ‘submit’ button and the reviewer clicking the ‘approve’ button. Automating and integrating the accounting process will help speed up your close process and lead to a successful implementation of ARM or ARCS.

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Currency Buckets: How Data is Loaded to Oracle ARM and ARCS

 

Account Reconciliation Cloud Service (ARCS), the counterpart to the on-premises Account Reconciliation Manager, is the latest offering in Oracle Hyperion’s cloud-based solutions. ARCS enables mid-sized companies with limited IT resources to leverage technology by integrating with ERP and EPM applications. In our balance comparison reconciliation blog, we briefly discussed the data load process to Oracle Hyperion ARCS and ARM with currency buckets available for general ledger and subledger balances. In this blog, we will cover in-depth the data load points in ARM and ARCS by using examples from other Hyperion EPM applications.

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FAQ: Account Reconciliation Cloud Service (ARCS)

The latest addition to Oracle’s suite of EPM Cloud products, Oracle Account Reconciliation Cloud (ARCS), is a robust solution for your reconciliation needs built using the capabilities of Account Reconciliation Manager (ARM). The cloud-based offering greatly reduces cost of deployment and administration, making a streamlined reconciliation process affordable for companies of all sizes.

ARCS allows you to view the performance of reconciliation in real time and ensures that all reconciliations prepared are properly qualified. We’ve compiled a list of the questions we get most often so you can decide if ARCS is the reconciliation solution you’re looking for.

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Account Analysis Reconciliation in Oracle Hyperion ARCS & ARM

 

Oracle Hyperion's reconciliation solutions provide two different methods: balance comparison and account analysis. In a previous blog post, we covered the balance comparison method and how ARM and ARCS enable auto reconciliation of balance comparison accounts. The account analysis reconciliation method will be discussed in this blog.

Account analysis is the reconciliation method that requires a balance explanation for balance sheet accounts for an accounting period. Examples of an account analysis reconciliation include accounts receivable, accounts payable, and fixed asset reconciliations.

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