How Oracle Accounting Software Can Help You Work Smarter, Not Harder
Read time: 4.5 min.
You open your eyes, and it’s still dark outside. This is normal for you – early morning is the most productive time of day that isn’t spent at work. After your morning workout and shower, you check your emails during a quick breakfast before heading out the door. In the car, you switch on a podcast before hopping on the highway to your office. Or maybe you take public transportation. You spend your ride there scrolling through the top news stories published overnight.
As you walk into work and sit down at your computer, you’re bombarded by the number of seemingly urgent tasks awaiting you. You need to pull a cash flow statement for a 10 a.m. meeting. Purchase orders require your approval. There’s a list of customers with outstanding invoices with whom you need to follow up. And then there’s the ongoing issue of chasing down information from other departments that is necessary for making informed financial decisions.
You’re somewhat overwhelmed, but the feeling is familiar. This is a daily occurrence for you working in the finance department. But just because this is how your day starts every day doesn’t make it good, you think. Is there a better way?
Yes, there is. Oracle accounting software is a better way to automate routine tasks, use dashboards to stay on top of important information and stay aware using social and mobile capabilities.
Features of today’s top accounting software
A major benefit of using accounting software is the reduction of manual work. You’re busy, and anything to shorten the amount of time you spend performing simple tasks is more time to spend on higher-level needs.
In addition to automation, top accounting software includes data security and regulation management. The information you put into accounting software solutions must be protected and organized, making the completion of tax forms and storage of account information a safer and simpler task.
These features can have an effect on your customer service satisfaction as well. Those who do business with your organization receive invoices in a timely manner and can rest easier knowing their sensitive financial information is stored safely.
Benefits of Oracle accounting software
Oracle accounting software offers a full suite of tools necessary for efficiently managing your organization’s financial needs. Information stored within the system is both safe and easily accessible, making it available only to those who should have access. Some key features include:
- Dashboards: Save more time with role-based dashboards. See financial data such as revenue, accounts receivable and accounts payable reconciliation and expenses right away for an upcoming meeting in small boxes called infolets that present the information easily, and also allow you to drill down for more detail if needed. Log into your dashboard like you log into your email each day to see what you need to address that day.
- Single-click processes: Infotiles embedded into work areas and can actively monitor business data for processes such as transactions, alerting you to issues that need your attention. Complete, approve, release holds or more with a single click, removing the need to run queries and allowing you to complete these small tasks quicker.
- Social and mobile tools: Busy day ahead? Get easy tasks out of the way over your morning coffee before you even walk into your office. Oracle accounting software comes equipped with mobile tools that allow you to stay informed, follow up on pending items and work with others on shared business processes. Use social capabilities to collaborate easily when away from your desk.
- Easy reporting: The last thing you need before a big meeting is to wait for data to update and to create reports from scratch. Time is saved with Oracle accounting software – data is available in real time and can quickly be exported to standard and custom, prebuilt reports and integrations. You can also include graphical representations of your data to give the visual member of your team a better view.
Accounting software within Oracle ERP systems
Collaboration between departments can be one of the hardest jobs for anyone in the finance department. Many times, you’re the person or department that has to say no, has to point out inefficiencies or be the bearer of bad news, monetarily. Using Oracle accounting software within an ERP system comes with numerous benefits that connect your department and data with the rest of the company. Some benefits include:
- Scalability: Growing your organization’s revenue while cutting costs is one of your primary responsibilities. Oracle cloud solutions enable your business to grow while also growing with you. Choose which applications you need to cooperate with your Oracle accounting software now and add on later as your business expands.
- Intuitive user experience: The contextual infolets on your dashboard (mentioned above) are designed to provide a quick overview of key figures but allow you to drill down further to review more detailed information. Both mobile and desktop dashboards are easily customizable so you can personalize your interaction with the software.
- Part of an end-to-end solution: Prevent your department from operating within a silo by connecting to an organization-wide ERP software. All business data exists in one place and is visible to all, integrating financials with other business functions such as inventory management, CRM and more.
- Comprehensive financial management: Optimized for financial operations, Oracle accounting software delivers a complete suite of tools. Improve cash flow with cash management, close your books faster in General Ledger, monitor which books haven’t closed with the Close Monitor tool and more.
- Security: Your organization’s financial information is sensitive. Oracle employs embassy-grade security to store and manage, while still being easily accessible to you.
As you turn your computer off at the end of a long day, you consider your continuously growing to-do list. However, with Oracle accounting software, you travel home knowing that you have tools at your disposal to complete the small and large tasks necessary to maintain the financial health of your company. You can rest easy tonight and start tomorrow with the next step toward growth.