Last updated on
Company health
Ratings
Oracle Financial Consolidation and Close description
Oracle Financial Consolidation and Close is a cloud-based software that helps mid-size to large businesses streamline their monthly and yearly financial close process. It automates tasks like gathering data, tracking key metrics, and creating reports, reducing errors and saving time. The software helps manage complex global regulations and reporting requirements, including GAAP and IFRS. It also provides a clear audit trail for compliance purposes.
Who is Oracle Financial Consolidation and Close best for
Oracle Financial Consolidation and Close helps mid-size to large businesses automate their financial close process. Users praise its automation and reporting capabilities but note slow performance and a difficult interface as drawbacks. Ideal for large enterprises seeking to streamline financial operations.
-
Best fit for large enterprises (1000+ employees).
-
No specific industry fit identified.
Oracle Financial Consolidation and Close features
| Supported Oracle FCC supports compliance reporting for GAAP and IFRS through pre-built features and robust reporting tools. |
| Supported Intercompany eliminations are automated during consolidation for accurate reporting. |
| Supported Oracle FCC automates several close process tasks, including data collection, reconciliation, and report generation. |
| Supported Oracle FCCS supports currency conversions for multinational consolidations and reporting. |
Oracle Financial Consolidation and Close reviews
We've summarised 37 Oracle Financial Consolidation and Close reviews (Oracle Financial Consolidation and Close G2 reviews) and summarised the main points below.
- Automates financial close and consolidation processes.
- Provides accurate financial reporting.
- Integrates with other Oracle products.
- Customizable to specific needs.
- Detailed reporting and analytics capabilities.
- Slow performance and loading times.
- Difficult navigation and user interface.
- Limited and unreliable integrations.
- High cost and licensing fees.
- Buggy and unresponsive at times.
Oracle Financial Consolidation and Close pricing
The commentary is based on 3 reviews from Oracle Financial Consolidation and Close G2 reviews.
Oracle Financial Consolidation and Close's pricing is considered expensive, especially the initial cost. While it offers robust consolidation and reporting capabilities, some users find the licensing model, particularly for reporting users, to be an added expense.
Users sentiment
Oracle Financial Consolidation and Close alternatives
AchieveItBetter for strategic planning and execution, especially for organizations with complex projects and multiple departments. Focuses on accountability, transparency, and achieving strategic goals, not just financial close. Has more momentum currently.Read more
SAP Financial ConsolidationBetter for larger enterprises. Has fewer user reviews available online. An Oracle Financial Consolidation and Close competitor and alternative.Read more
DrivetrainBetter for financial planning and analysis, budgeting, and forecasting. Specifically designed for mid-sized SaaS and subscription businesses. Has more momentum currently. Integrates with Salesforce and QuickBooks.Read more
TaxDomeBetter for smaller accounting and bookkeeping firms. Focuses on practice management, client interaction, and workflow automation, rather than complex financial consolidations. Has stronger momentum currently.Read more
RhythmBetter for aligning teams and achieving strategic goals. Focuses on goal setting, progress tracking, and team accountability. Caters to a wider range of company sizes. Has less momentum.Read more
AicoHas slower momentum. Suited for larger enterprises, focusing on ERP integrations and automated close processes. Billing model is entity-based, not per user.Read more
Oracle Financial Consolidation and Close FAQ
What is Oracle Financial Consolidation and Close and what does Oracle Financial Consolidation and Close do?
Oracle Financial Consolidation and Close (FCCS) is a cloud-based software automating financial close and consolidation processes for mid-size to large businesses. It streamlines tasks such as data collection, reporting, and compliance with regulations like GAAP and IFRS, offering a clear audit trail.
How does Oracle Financial Consolidation and Close integrate with other tools?
Oracle Financial Consolidation and Close integrates with other Oracle products, enabling streamlined data flow within the Oracle ecosystem. However, users have reported limited and unreliable integrations with non-Oracle products, which is a notable drawback.
What the main competitors of Oracle Financial Consolidation and Close?
Top alternatives to Oracle Financial Consolidation and Close include SAP Financial Consolidation, Aico, and TaxDome. These competitors offer similar features for financial close management, reporting, and compliance.
Is Oracle Financial Consolidation and Close legit?
Yes, Oracle Financial Consolidation and Close is a legitimate cloud-based software. It's a safe and reliable option for mid-size to large businesses seeking to automate their financial close process, improve accuracy, and ensure compliance. It's worth noting some users have reported slow performance and a complex user interface.
How much does Oracle Financial Consolidation and Close cost?
I cannot find pricing details for Oracle Financial Consolidation and Close. Contact Oracle sales for product pricing or a personalized quote. Consider exploring alternative financial consolidation software options.
Is Oracle Financial Consolidation and Close customer service good?
There is no customer service information available for Oracle Financial Consolidation and Close. However, user reviews mention slow performance, a difficult interface, and unreliable integrations as downsides.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.