Due to the pandemic and the current work from home situation, employees are facing challenges in tracking down colleagues to help with specific tasks. The dependency on digital communication to collaborate with peers and managers has increased substantially.

Implementing social technology in companies can help employees to instantly communicate and perform efficient work. This approach drives a reduction of downtime and thus, an increase in the productivity.

According to McKinsey’s report, using social technologies can increase the productivity of knowledge workers by 20% to 25%.

Oracle Financial Cloud is embedded with social capabilities, collaboration tools, and powerful analytics to support real-time decision making needed in this pandemic situation. It also allows users to easily collaborate on accounting tasks, track the status of associated ledgers, exchange documents, and share required data. This helps team members to work in real-time accessing key information and delivering projects timely.

Oracle Financial Cloud provides all the financial controls that an organization needs while giving priority to the secured interactions needed in social collaboration. This means, only authorized employees are allowed to view the relevant information.

As this comprehensive functionality is available as a cloud service, organizations can save upfront capital expenditure and hardware & software costs. Its flexibility has become the key for organizations to survive in this pandemic. Organizations that respond quickly to the changing business needs will always stay ahead of the curve.

The power of Oracle ERP Financial and Oracle EPM together

Successful organizations integrate their Oracle ERP Financial with Oracle EPM and allow their financial analysis and planning teams to foresee performance gaps, access the root cause, collaborate strategically, and execute quickly.

Oracle Enterprise Data Management in Oracle EPM uses an intelligent inference engine to find the right stakeholders to participate in workflow and discuss various issues via conversational threads, while uninviting inactive participants at relevant times. The crowdsourcing approach enables peer-to-peer application dimension sharing that helps in paving broader information accessibility. This also empowers employees with relevant data for quick and efficient decision making.

The Narrative Reporting in Oracle EPM Cloud enables collaborative and authoring review phases removing time-consuming and flawed reporting processes. It offers a check-in and check-out process for the report and the reviewer tools that ease collaboration through notifications, access controls, change comparisons, and status centers.

Running through all of these solutions are part of a cohesive workflow. Sharing contextually relevant content and important data can lead to higher levels of employee participation. Using Oracle Financial cloud, employees will have access to all the finance-related documents and thus providing them with inputs between the team, irrespective of location. The approved access to key data can prevent delays in workflow leading to successful outcomes from employees.

Conclusion

The benefits offered by Oracle Financial Cloud are truly experienced when the big picture is examined. Aspire Systems has Oracle certified experts to provide complete information on how Oracle Applications provide flexibility for increased collaboration during and post-pandemic.

Learn more about Oracle Financial by visiting: our Oracle Applications services page

Ravi Nandiwada

Ravi Nandiwada

Ravi Krishna, a morning lark who begins his day with gardening. A diligent writer who may try and fail, but never fails to try. His passion and intelligence on Cricket have inspired many and received 40K subscribers on his YouTube channel.
Ravi Nandiwada