Oracle Financials Cloud Reviews & Pricing

Key Features

• Ledger and Analytics: View and interact with account balances from different perspectives. Analyze account balances by any dimension in real-time. 
• Collections Overview: Rank patrons uniquely with the configurable scoring extension on the collections overview module. Users may also utilize payment management to improve cash flow with promise and payment capabilities. 
• Generate Expense Reports: Create and submit expense reports with ease. Policy controls enable expense management controls using approvals and audits. 
• Accounting Hub: Create a centralized location of financial data for bookkeeping teams to trust. Users receive full insights into financial information from multiple locations such as ledgers, subledgers and verified references.  
• Quick Receivables: Manage the entire quote-to-order-to-cash process with just a few clicks. Seamlessly create customer invoices and receive/apply customer payments. 
• Revenue Management: Recognize revenue for performance obligations at a specific point in time or over-time with the revenue management apparatus. This module also highlights liabilities and assets for performance obligations valued at due consideration. 

Approach to Common Challenges

• Manual data entry and reconciliation: Oracle Financials Cloud automates data entry and reconciliation tasks, reducing errors and saving time.
• Limited visibility into financial performance: The platform provides real-time insights and dashboards for comprehensive financial analysis and decision-making.
• Complex compliance requirements: Oracle Financials Cloud helps meet global compliance standards with built-in controls and automation.
• Scalability limitations: The cloud-based solution scales easily to accommodate business growth without infrastructure investments.
• Lack of collaboration and communication: Oracle Financials Cloud facilitates collaboration and communication between finance teams with centralized data and workflows.

Cost Of Ownership

• Q: What is the base price per user per month?
  A: While the base price varies depending on chosen modules and features, it typically starts around $2.00 per user per month. This includes access to core functionalities like accounting, payables, and receivables. However, additional modules like project accounting or global capabilities may incur additional charges.
• Q: Are there any upfront costs associated with implementation?
  A: Yes, implementation fees can range from $5,000 to $50,000 or more depending on your organization's size and complexity. These fees typically cover project management, configuration, and data migration costs. Additionally, ongoing maintenance and support may incur additional monthly charges.
• Q: How does Oracle Financials Cloud's pricing compare to competitors?
  A: Oracle Financials Cloud generally falls within the mid-range in terms of pricing compared to other cloud-based financial management solutions. However, the specific cost comparison can vary depending on your specific needs and chosen features. It is crucial to carefully evaluate your requirements and compare competing solutions before making a final decision.

Demo Resources

• Interactive tour: Explore the platform's user interface and key features through a self-guided interactive tour with screenshots and explanations.
• Product webinars: Attend live or on-demand webinars hosted by Oracle experts who showcase the solution's functionalities and answer questions.
• Case studies: Learn how real organizations have successfully implemented and benefited from Oracle Financials Cloud in their operations.
• Free trial: Sign up for a free trial to experience the platform firsthand and test its capabilities within your own environment.
• Gartner Peer Insights: Read reviews and insights from real users about their experiences with Oracle Financials Cloud.

Limitations

•  Difficult learning curve 
•  Occasionally Slow 
•  Experiences bugs 

Suite Support

FAQ

• Q: How easy is it to migrate data from existing systems to Oracle Financials Cloud?
  A: Oracle offers data migration tools and services to facilitate the process, but its complexity depends on the volume and format of your existing data. Consulting with Oracle or a migration partner is recommended for complex scenarios.
• Q: Does Oracle Financials Cloud integrate with other business applications?
  A: Yes, the platform offers pre-built integrations with various applications, including CRM, ERP, and HCM solutions. Additionally, open APIs allow for custom integrations with other third-party systems.
• Q: What security measures are in place to protect our financial data?
  A: Oracle Financials Cloud utilizes robust security features such as encryption, access controls, and audit trails to safeguard sensitive financial information. Additionally, it adheres to industry-standard security compliance regulations.
• Q: How customizable is Oracle Financials Cloud?
  A: While the platform offers a wide range of features and configurations, extensive customization may require coding expertise or involvement from Oracle consultants. The level of customization depends on your specific needs and technical capabilities.
• Q: What level of support does Oracle provide for its cloud solutions?
  A: Oracle offers various support options, including online resources, knowledge base articles, and paid support plans with different response times and SLAs. The chosen support plan determines the level of service and dedicated resources available.