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How does Fusion choose tools according to your users reporting needs?
Fusion Financials provides various types of reporting methods that work off the same standard
and multi-dimensional balances. Now because all of the reporting and analytic tools leverage
the same source of truth, it ensures that all the roles in your company regardless of the type of
report they need will be on the same page.
Here you can see three different categories of reporting needs:
● Fixed-Format and High Fidelity reports - Financial Reporting solution can be used to
produce boardroom ready financial reports.
● Local Statutory reports - BI Publisher reports can be used.
● Everyday Ad-Hoc analysis - Users can either use Smart View, Account Inspector or
Transactional Business Intelligence Reports.
In some cases, the same reporting technology can be used for different purposes too.
For e.g., Financial Reporting solutions can also be used to provide users with interactive
reports.
What are the functional elements that make Oracle Cloud Financial Reporting so
astounding?
Let’s take a look at what core elements make Fusion reporting so easy to use and efficient:
● Essbase: This Online Analytical Processing (OLAP) server is responsible for extremely
fast reports, queries and multidimensional analysis, along with availability of real time
data without running any program as the balances are pre-calculated all this through the
various end user tools for Oracle Essbase. Business users are enabled to slice and dice
data across dimensions and drill up, down and sideways at any parent level.
● Embedded Intelligence: Business Intelligence is embedded directly into business
processes via transactional systems so that all business users have complete,
consistent and real time information which helps users minimize risks and improves
decision-making.
● ree versions in Oracle fusion applications are used to track
Trees (Hierarchies): T
account hierarchies as they change over time. Using multiple trees enables users to
create financial reports for different target audiences. For example- Different hierarchies
are used to track cost centers, either by geography or line of business.
● Mobile Reporting: In today’s mobile age data can be accessed securely for mobile
reporting. It is easy to access and modify reports and Key Performance Indicators
(KPI) through any web enabled device.
Now let’s deep dive into these reporting tools that make reporting and analysis
efficient and easy.
1.Smart View
Most business users are proficient in Excel and hence Smart View, an excel based utility
enables the user to analyse real time GL balances in Excel sheets. These sheets are connected
to the Essbase cube directly. Smartview is an ideal tool for financial analysts or power users to
pivot across any dimension to perform ad-hoc analysis, add calculations and create graphs
using Excel’s built-in functionalities.
It is a very powerful product for EBS customers who can make use of this cloud product without
changing their business process.
The best part about Smart view is that it enables you to interactively analyze your balances and
define reports using the familiar spreadsheet environment.
● Smart View allows you to move dimensions from page level to row or column, to obtain
different views of data, supporting interactive analysis.
● Ad-hoc multi-dimensional pivot analysis combined with full Excel functionality support the
following functionalities:
● Facility to drag and drop dimensions to row, column or page
● Perform multi-dimensional analysis, pivot, drill
● Drill from any parent to the next parent level
● Drill down to detail balances, journal lines, and subledger transactions
● Business users can utilize Excel’s built in features (calculations, graphs, etc)
● Users can save reports and queries offline, then later-on reconnect to the live
data by opening the spreadsheet.
● Users can email the spreadsheet in order to distribute reports among each other.
● The good news is that, Smart View is compatible with Microsoft Excel, PowerPoint and
Word.
2. Financial Reporting Studio
Financial Reporting Studio is the report designer tool or a report repository. It is Oracle’s best
client based report authoring tool. It enables users to create customized and view income
statements and balance sheet reports.
Business users do not have to run the report, all they got to do is open it and real-time balances
are shown automatically. Users can then drilldown from reports to subledger transactions, as
well as publish reports in a variety of formats (MS Excel, PDF, MS Word, MS Powerpoint, etc.).
● Provide object based reporting. Which means nothing but objects are reusable across
multiple reports.
● Easy to create reports using drag and drop report components.
● Easy to use objects such as Insert additional report objects (text boxes, images and
charts).
● Users can easily insert rows and columns (data, formula, text)
● There are options to select dimension member using member selection or functions
● Like excel users can add calculations or mathematical functions
Now you would wonder what is the difference between Financial reporting and smart view?
● Both these reporting centers access the same data source (GL Balance Table)
● You can expand within the report to go to the next level
● You can drill down to get detail balances and subledger transactions
3. Account Monitor
The Account Monitor is itself designed to create active searches. The good news is that Account
Monitor has Embedded Intelligence built-in to help you assess the impact of balance changes
(favorable vs unfavorable). This in turn makes it a powerful tool for real time, multidimensional
account analysis.
Let’s take a look at its awesome features!
● This solves the issues most accountants face, by adopting a Proactive method of
monitoring critical balances
● It has user friendly and user-configurable rules and thresholds
● It gives users timely alerts when account balances exceed thresholds
● It provides year over year or actual vs budget comparisons
● It provides the facility to drill down to view break down of balances for each child value
that rolls up to the parent value
● It drills down to the subledger level and you can even check the receipts created
● For visual understanding it makes use of graphs and pie charts
This tool is especially useful as it makes sure that any account that exceeds the tolerance limits
assigned are automatically displayed, and therefore, result in eliminating any account anomalies
from surfacing during your close process and enable accountants to initiate an appropriate
business or accounting response to the implicit situation.
4. Account Inspector
This tool is best for users to perform ad-hoc balance queries. It enables them to perform
multi-dimensional analysis, slicing and dicing of information, and pivoting– all within a web
page.
Why this tool is awesome is because it works off the same analytic cube with pre-aggregated
balances at every level so all queries are lightning fast.
How it works is , after you specify your query criteria, such as your ledger and chart of accounts
dimensions, you can expand on any parent value to get a breakdown by each child value that
rolls up to the parent value. Again, because this query is working off of the same live,
pre-aggregated data, you can change query criteria and instantly refresh results, which is what
every business user wants.
We can also drag and drop the page level dimensions to further slice and dice results for
further analysis.
OTBI is a fusion specific reporting tool , used by top level managements of organizations
without the need for any technical knowledge. It is a flexible and easy to use analysis tool that
helps gain real time insight into transactional data.These features make it extremely valuable to
the top management.
● It is a real-time online reporting tool querying directly from Fusion Application data.
● This is an ad hoc analysis tool based on transactional data focused on operational and
transactional reporting.
● This tool requires no separate data warehouse as it uses Fusions database, which
explains no ETL process needs to be run to populate any data warehouse.
● Business users can easily create reports and dashboards through personalization.
● It focuses on transactional and operational data such as invoices, payments and assets.
● In OTBI, instead of constructing a SQL query, you can simply drag and drop selected
data from subject areas and use different graphical views.
● Users can create out of the box reports (e.g reconciliation reports).
● The more commonly used reconciliation reports are receivables to GL recon report and
payables to GL recon report.
● In OTBI, instead of constructing a query, you can simply drag and drop selected data
from subject areas using different graphical views.
● This brings us to the good news that Even end users can use this tool. No technical
knowledge is required.
We all know that we can create amazing reports using these Fusion reporting tools, let’s look at
how we can secure these reports so that only designated users can have access to these
reports.
1.Report Security: When a user adds a report in the repository, by default only that user and
the administrator can access the object. Other users need to be assigned access before they
can see the report, hence minimizing any leakage of sensitive financial information.
2.Folder Security: Now on a more granular level, you can even secure your folders. You can
create folders to organize reports in the repository. Users with access to a folder can access all
reports in the folder.
3. Data Security: In addition to the above, data security is also enforced in the reports.
Users can only view account balances for segment values that they have access to (through
data access set and segment value security).
OTBI
• Focused on operational and transactional reporting
• Based on transactional tables (AP, AR, PO, SLA)
BI Publisher
• Focused on report documents – high fidelity, customizable, and printed
• Based on transactional tables (AP, AR, PO, SLA)
Therefore we clearly see that the reporting rules in Oracle fusion are tailor made to fit the
various reporting needs of various roles and user responsibilities. All these tools are available
under the same umbrella for all the different roles but keeping in mind the security concerns of
these reports. These interactive and user friendly tools is the outcome of Oracle’s huge
experience and feedback from its wide ranges of customers throughout the globe & across the
industries.