Modern finance teams operate in a world where data drives – or must drive – every small and big decision. But the truth is, raw financial datasets can only take you so far. That said, if you’re using Oracle Fusion Cloud to manage your financials, that’s half the battle won! The next step is to find new and innovative ways to extract actionable insights, create meaningful reports, and have 360-degree, real time visibility into your financial data. That’s where the right Oracle Fusion Cloud reporting tool can make a world of difference.
Ever been in a situation where you – or your team of finance pros – find themselves drowning in spreadsheets or spending their precious hours stitching reports? Well, you’re not alone. As businesses demand quick and precise financial insights, finance teams need a robust Oracle Fusion Cloud reporting tool that does more than “business as usual”. What you get with third party Oracle Fusion Cloud reporting tools are clarity, actionable insights, speed, and customization – all essential ingredients to tackle tough financial questions and complex reporting needs.
To make the choice of such reporting tools a tad easier, this blog explores five financial reporting tools designed especially for Oracle Fusion Cloud users. So, whether you are looking to simplify complex reporting, quickly analyze data, or empower your finance team to work smarter, this list will guide you to the right solution. Let’s kickstart and find the optimal Oracle Fusion Cloud reporting tool for your business needs.
But first, some basics.
By itself, Oracle Fusion Cloud is an excellent tool for modern financial management. It offers savvy finance teams a repository of centralized data, seamless data integration, and sufficient scalability to handle dynamic business needs. Oracle Fusion Cloud consolidates financial data across departments and applications, thus eliminating silos. This ensures that all business users and departments are working with the same, updated financial numbers. Essentially, Oracle Fusion Cloud is a solid foundation for financial reporting.
You’re probably wondering. Why, then, do we need specialized Oracle Fusion Cloud reporting tools? Well, to level up your financial reporting game!
Modern Oracle Fusion Cloud reporting tools, especially those for finance teams, complement Oracle Fusion Cloud’s existing capabilities such as data visualization, ad hoc reporting and more.
Third party tools for Oracle Fusion Cloud reporting provide features like rich data visualization, real-time insights, and custom reporting – all to fit your financial reporting needs. So, whether you’re drilling down into subledger details or building reports that wow your stakeholders, Oracle Fusion Cloud reporting tools can make all the difference. CFO.com reports that average FP&A professionals spend 75% of their time on gathering data and less than 30% on value added analysis. Third party tools for Oracle Fusion Cloud can ease the bandwidth of FP&A professionals for them to contribute more strategically to the finance function.
Basically, you need Oracle Fusion Cloud reporting tools to uncover the full potential of Oracle Fusion Cloud for finance teams. Now, let’s deep dive into five such Oracle Fusion Cloud reporting tools for finance teams.
1. GL Connect: The Oracle Fusion Cloud Reporting Tool Built to Empower Everyone on Your Finance Team
GLConnect is one of the top choices for a robust and intuitive Oracle Fusion Cloud reporting tool. It streamlines financial reporting for organizations using Oracle Fusion Cloud ERP and EBS. In summary, GL Connect enables finance teams to generate, customize, and analyze reports with little to no assistance from IT teams. GL Connect brings advanced reporting features and a user-friendly and intuitive design to bridge the gap between raw financial data and actionable insights.
GL Connect works well for finance teams that use Oracle Fusion Cloud and need deep financial insights, quick data access, and role specific customization. In particular, large organizations with complex reporting needs, and teams that require agility in financial decisions, rely on GL Connect for their needs.
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GLWand, a part of Wands for Oracle suite, is best known for its simplicity and ease of use. It enables finance teams to create and customize reports without technical expertise.
GLSense offers finance teams a comprehensive 360° view of their financial data. It connects general ledger entries with subledger details. This Oracle Fusion Cloud reporting tool is built to simplify reconciliation, enhance transparency, and support real-time decision-making for finance professionals.
GLSense is an ideal Oracle Fusion Cloud reporting tool for teams that need full-spectrum visibility of their financial data and rely on Excel for reporting.
Oracle Transactional Business Intelligence (OTBI) is Oracle Fusion Cloud’s built-in reporting tool. It’s designed for simplicity and ease of use. OTBI provides real-time insights into key financial metrics through customizable dashboards and templates, making it an accessible option for non-technical users.
OTBI is a great Oracle Fusion Cloud reporting tool for users with fundamental reporting needs. It’s perfect for day-to-day monitoring of financial metrics and creating actionable dashboards.
Smart View extends Oracle Fusion Cloud reporting capabilities into Excel, allowing finance teams to generate ad hoc analyses and create custom reports. It’s a versatile tool for organizations that prefer working in spreadsheets while leveraging real-time data from Oracle systems.
Smart View is best for finance teams who rely heavily on Excel and need an Oracle Fusion Cloud reporting tool for quick, customizable analyses. It’s particularly useful for ad hoc reporting and presentations.