FCCS Webinar #3: Speed up & Improve the Financial Close Process - Reintroducing Oracle ARCS

Ensuring that your financial processes are running smoothly and maintaining accurate data is critical, which is why account reconciliation plays a key role in running an efficient finance department.

Modern finance teams face constant pressures to improve productivity and lower costs. Many companies struggle with inefficient, time-consuming, manual-intensive reconciliation processes due to complex transactions, non-standard data structures in source systems, common bookkeeping errors, and manual matching processes.

As organizations considering the benefits of moving to the cloud with their EPM and Analytics technologies, migrating Account Reconciliation tools to the Cloud is a great safe, first step. Without effective, streamlined reconciliation processes, it’s difficult to detect fraud, identify potential risks,  eliminate any gaps and spot any potential disruptions to your cash flow, resulting in many errors and inaccurate data.

Oracle Account Reconciliation Cloud Service (ARCS) is a purpose-built solution in the cloud for managing the global reconciliation process. It provides real-time visibility into the performance of reconciliations and ensures that all reconciliations prepared are properly qualified. It also helps finance teams streamline and optimize performance by automating certain reconciliation tasks and supporting risk-based reconciliation cycles.

Oracle Account Reconciliation Cloud Services (ARCS) provides an ideal option for those clients already using the on-premise Oracle Account Reconciliation Manager (ARM), as functionality can be migrated quickly and easily, to grasp the benefits of new abilities within the Cloud application.

 Benefits of Oracle ARCS

• Automation of risk-based reconciliations

• Custom and calculated attributes and more powerful automated rules

• Real-time dashboard reporting on compliance and completion

• Automated transaction matching

• Ability to be fully managed by functional resources

This webinar will illustrate the benefits of leveraging Oracle ARCS functionality to automate the reconciliation process, drive standardization, enhance visibility, control and reduce manual efforts.

Presented by:
Nayar Ellis, Practice Lead, Financial Consolidation and Close, US-Analytics