Oracl Ora cle e Fusion Fusion Financi Financials als Introd Introducti uction on J an 2016
Replay Information
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An audio replay* replay* of t his t raining ses session sion is available available for ac acces cess s via the t he mp3 audio file located on the Oracle Fusion Financials Introduction KEY page.
* CPE is not available for t hose that acc acces esss the r eplay eplay..
Agenda ►
Introductions and objectives
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O verview of Fusion A pplications & A rchitecture
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O verview of Fusion Financials
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D eploym ent O ption s
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Integration O ptions
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R ole B ased A ccess w ithin Fusion Financials
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Industry Lan dscape
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EY Q ual and Lesson s Learned
Today’s instructors ►
Jam es Tarantino, Senior M anager
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R aghu R ajendra, M anager
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V ino d S odhan i, M anager
Introduction and Objectives
Objectives ►
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This training is designed to p rovide an o verview of Fusion F inan cials and d ep loym en t options. This cou rse serves as the precu rsor for various d eep dive sessions focu sed o n how to im plem en t Fusion FinancialSuite of A pplications. U pon co m pletion of this training, participants should be able to have an initialdiscussion w ith the client regarding Fu sion Financials and its key capabilities.
Overview of Fusion Applications & Architecture
What is Oracle Fusion Applications?
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Fusion A pplications is the latest ve rsion of O racle’ s ER P applications. Follow s a m odular, stan dards-based architecture. It is n atively bu ilt on O racle Fusion M iddlew are 1 1 g com pon ents and u ses O racle D atabase. C ontains a com bination o f features an d functionalities taken from O racle E -B usiness S uite, JD Edw ards, and Siebel product lines. O racle announced the start of developm ent of Fusion A pplications after O racle's acq uisition of P eo pleS oft, JD Edw ards, an d S ieb elS ystem s in 2 0 0 5 .
Timeline of Fusion Applications J ourney 2005
2010
Development of Fusion Applications Enhancement to Fusion Middleware
2011
Early adopters program
2015
Additions to fusion applications portfolio Updates to releases
Announcement of Fusion Development
Source: Oracle and client
Launch of Fusion Application
General Availability of Fusion Application (On-Prem and Cloud)
R10 General Availability
Oracle Fusion Applications Portfolio The follow ing com prises the portfolio of Fusion applications w hich are also kn ow as its pillars Oracle Fusion Financial Management
Oracle Fusion Human Capital Management Workforce Lifecycle Management
General Ledger
Acc oun ts Payable
Ass et Management
Global Human Resources
Payments & Collections
Acc oun ts Receivable
Cash & Expense Management
Compensation Management
Talent Review
Performance & Goal Management
Gl ob al Payr ol l
Net wo rk @Wo rk
K PI’ s & Das hb oar d
KPI’s & Dashboard
Oracle Fusion Project Portfolio Management
Benefits
Oracle Fusion Cust omer Relation ship Management
Project Costing
Project Billing
Project Perf Reporting
Customer Master
Sales
Project Control
Project Integration Gateway
Project Contracts
Incentive Compensation
Mobile & Outlook Integration
Marketing
Territory & Quota Management
KPI’s & Dashboard
KPI’s & Dashboard
Issue & Risk Manager
Transaction Controls
Configuration Controls
Purchasing
Self-Service Procurement
Procurement Contracts
Supplier Portal
Acc ess Co ntr ol s
KPI’s & Dashboard
Sourcing
Spend and Performance Anal ysi s
KPI’s & Dashboard
Oracle Fusion Supply Capital Management Product Master Data Mgmt
Distributed Order Orch
Inventory Management
Cost Management KPI’s & Dashboard
Oracle Fusion Governance, Risk and Control Financial Compliance
Oracle Fusion Procurement
Global Order Promising
Shipping and Receiving
Overview of Fusion Applications Architecture
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Fusion A rchitecture com prises of three m ain laye rs –D atab ase , M idd lew are an d A pp lications Enterprise finan cial, acco unting an d rep orting needs are m et by one of the pillars of Fusion A pp lications U ser roles an d security controls are defined an d e nab led via A utho rization Policy M an ag er
e r c a e f s r e U t n I
Pillars of Fusion Applications Fusion Financials s n o n i t o i a s i c u l F p p A e r n a o i w e s l u d F d i M e s r a b e y a a t L a D
Authorization Policy Manager
Fusion Project Portfolio
Fusion SCM Fusion HCM
Fusion Procurement Fusion CRM
Fusion GRC
Oracle Webcenter
Oracle Enterprise Scheduler
Fusion Middleware Schema
Oracle Identity Management (OIM)
Oracle App Dev Framework (ADF)
Oracle Data Integrator (ODI)
Oracle HTTP Server
Fusion Apps Schema
Oracle SOA Suite
Overview of Fusion Financials
What is Fusion Financials? ►
Oracle’s definit ion –“Oracle Fusion Financials is a modu lar suit e of f inancial applications designed to work as a complete financial solution or as modular extensions to your existing financial applications por tfolio.”
Fusion Ledger Fusion Payables
Fusion Adv Collections
Fusion Payments
Fusion Tax
Fusion Receivables
Fusion Assets
Fusion SubLedger Acctg
Oracle Transactio nal Business Intelli gence (OTBI) – KPIs and Dashboards
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These individu al m odules en able end to end accoun ting and reporting of respective p rocess areas
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Fusion Finan cials is capable o f being fully integ rated w ith o ther non-finan cials m odules for end to en d bu siness processing e.g. purchasing, project portfolio
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Fusion Finan cials can b e d ep loyed O n-P rem ises, H osted or delivered via C lou d services
Key features The follow ing are som e of the key features o f Fusion Finan cials Ø
Financials Rapid Implementation –The de livered tem plates an d spread sheet integ ration w ith Fusion Finan cials m od ules en ab les quicker data load s and vo lum e inten sive configu rations. This helps in reduced im plem en tation tim elines. E.g. data conversion, CoA value set values de finition etc.
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Oracle Fusion General Ledger Balances Cube- It is an online an alyticalap plication (O LA P ) database that m aintains financialbalances in a m ultidim ensional database. A new balances cu be is created for every new uniqu e com bination of chart of accou nts and calen dar. Ledger data is stored in a m ultidim ensionaldatabase and enables realtim e, interactive financialreporting and an alysis.
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Embedded Oracle Transactional Business Intelligence (OTBI) –This is the new reporting ava tar of Fusion Finan cials.This is the g atew ay to d atabase tables to w rite sq lw ith guided report ed itor to deve lop new reports. It also h as delivered subject areas w ith em bedd ed cub es an d seeded reports on a real-tim e basis.
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Enhanced Allocation – The Led ger m ass allocation s is no w integrated w ith Enterprise P erform ance M anagem ent (EP M ). The allocation rules are defined in E P M w orkspace, actualallocation s are b ased on the Essbase cu bes an d the resu lting allocation journals are w ritten back to L edg er.
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Security and Data Access: The user an d da ta security access has been revam pe d architecturally.U ser privileg es is secured now secured by du ty a nd data roles.
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Integration with Hyperion Reporting Studio – This allow s to develop board leve lrep orts by integ rating w ith EP M and p rovides drilldow n capability.
Fusion Financials - Deployment Options
Deployment Options There are m ultiple options available to installand m aintain Fusion Financials ►
O n-P rem ises –U nder this option the fusion finan cials is installed on the clien t prem ises. A pp lication usag e is determ ined by cap acity (hardw are) installed .
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In the cloud –U nder this op tion fusion finan cials is dep loyed on cloud. U sag e is determ ined as a service (subscription / pa y per use). The de ploym en t can be either on pu blic or private cloud.
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H ybrid (O n-P rem + C loud) –U nder this option som e m odules can b e O n-P rem ises and som e on C lou d to take benefit of reduced infrastructure or pricing options or criticality of the data / a pplications.
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H osted Environm ent –U nder this op tion fusion finan cials is hosted by O racle o n beh alf of the clien t. In this option the infrastructure (hardw are / softw are) is ow ne d by the clien t but hosted by O racle. Fusion Financials
O n-P rem ises Ø
Installed o n clien t prem ises
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A bility to integrate an d scale the ap plications
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C lient IT staffto m aintain/sup po rt
H yb rid (O n-Prem + C loud)
In the cloud
P rivate C loud Ø
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C loud infrastructure is op erated solely for the client D edicated resou rces D ed icated release m a na ge m e nt
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C om bination o f on prem ises,ho sted a nd via cloud
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R ed uce the infra supp ort and m aintenan ce
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Sca le as need ed
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O ption based o n critica lity of ap plications
P ublic C loud Ø
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C loud infrastructure is av ailable for client along w ith othe rs M ulti-tenan ted C o-sha re release m a na ge m e nt
H osted Environm ent Ø
Infra o w ne d b y clien t bu t ho sted b y O racle
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M aintenan ce ou tsourced to O racle
Deployment Options (cont’d) The follow ing are the d ifferent dep loym en t options: Fu sion Financials
Installed
Installed
Installed capa city
Installed ca pacity
Combination of any of these will be a Hybrid option
On-Premises
Hosted Fu sion Finan cials
Fu sion Financials
Service Service
Private Cloud
Public Cloud
Fu sion Finan cials
Fusion Financials via Cloud Services Integration Options
Integration Options The follow ing a re the different integration options w hen Fusion Financials is delive red via cloud services C loud Integration O ption s SoA H osted P latform as a service (P aaS )
JD eveloper approach
Approach: • Fu sion SO A infrastructure
Approach: • InstallJde ve lope r or its
SOA OnPrem ise
Approach: • Fu sion SO A infrastructure •
is installed on-prem ise C ustom solution to be de ve lop ed to integ rate Fu sion Fina n cials w ith 3 rd pa rty a pp lications
Pros: • Integration w ith 3 rd party • •
ap plications E xten sible for future integrations C an b e leveraged for non Fu sion Fina ncials integ ration s as w ell
Cons: • O n-Prem ise licen sing an d • •
im plem en tation M aintenance of the infrastructure D ependen t on IT invo lvem ent
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hosted 3 rd P arty to pro vide custom platform as a service to integrate w ith Fu sion Fina ncials
Pros: • M aintained an d serviced b y 3 rd P arty so no in stallation and m aintenance Pay b y use or data volum e
• Cons: • H osted o utside o f com pany netw ork • P otential data sec urity risk as files/data trave lthrou gh platform ho sted b y 3 rd party
• •
costs
Cons: • Lim ited ca pa bility to •
Approach: • M an ually u ploa d files /
eq uivalen t D evelop custom java code to callw eb service Suits sim ple file / d ata up loa ds
Pros: • N o licen sing o r installation
integrate files / d ata W illno t su pp ortthird party com plex integration s
Integration C lou d S ervices (IC S )
M anualProcess
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data Co m panies to adopt m anual approach to w o rkaroun d th e lim itation of integration
Pros: • N o ad dition alco sts Cons: • M anual process • Can be tim e consum ing
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depe nding o n data / volum e Exposed to hum an error
Approach: • Su bscribe to Fusion SO A
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infrastructure provide d b y O racle O n-Clou d Le verag e in teg ration clou d services p rovide d b y O racle to tran sfer the file
Pros: • Leve rage O racle su ppo rted platform to in teg rate
Cons: • Lim ited con ne ctors / ad ap ters availab le to integrate fusion fin an cials w ith 3 rd P arty app lica tions
Overview of Role Based Access in Fusion Financials
Role based Access Abs tr act Rol e –Represents a role independent of the job or title you hire the worker to do Employee, Contingent Worker Job Role – Represents the job you hire a worker to perform. E.g. Ledger Accountant , Accounts Payable Manager Data Role –Combines job and the data that users with that job must access . E.g. Accounts Payable Supervisor of U.S Business Unit , Accounts Payable Supervisor of U.K Business Unit Duty Role –It is the most granular form of a role. Represents the individual duties that users can perform as part of their job. E.g. Journal Creation Duty, Invoice Creation A data role may inherit another data role
Data Roles A data role will inherit an abstract role
A data role will inherit an Job role
A Job role may inherit other job roles
Job Roles
A Job role may inherit an abstract role
A Job role must inherit a duty role
An Abstract role must inherit a duty role Duty Roles
Source: Oracle
Abstract Roles
A duty role may inherit other data roles
Role based Access (cont’d) A typicalscenario w here d ifferent users’ access is secu red by d uty a nd data p rivileges:
t c a e r l t o s b R A
User A (Employee)
User B (Employee)
e b l o o J R
Role – AP Accountant U.S.
Role - AP Manager U.K.
Role - AP Reviewer CAN
a e t l a o D R
U.S Business Unit
U.K Business Unit
CAN Business Unit
Create Invoice Manage Invoice
Approve Invoices Manage Invoices
View Invoices
y e t l u o D R
Roles Assigned
Can access these BUs
Can perform these activities
Fusion Financials - Industry Landscape
Industry Landscape Company Oracle
SAP
Software Applications
Softwa re Company
Cloud-based app company Software Company
Product Oracle Fusion
SAP Business by design
Microsoft Dynamics tions XYZ
Cloud XYZ
ERP at Customer Speed Software ERP
Software Company
X
Modules Financials, Accounting Hub Reporting, Project Management, Revenue Management, Project Financial Management, Procurement Customer Relationship Management (CRM), Finance, Human Resources (HR), Procurement, Project Management, Supply Chain Management (SCM), Manufacturing, Professional Services, Wholesale Distribution Financial Management, Business Intelligence and Reporting, Human Resource Management, Supply Chain Management, Configuration and Development, Project Management, Customer Relationship Management Financial Management, Supply Chain Management, Planning and Scheduling, Project management, Service Management, Human Capital Management, Sales Management, Customer Relationship Management, Enterprise Performance Management, Governance Risk and Compli ance, Business Architecture, Global Business Management Financial Management, Quote to Cash, Human Capital Management, Professional Services Automation, Supply Chain Management Financial Management, Supply Chain and Inventory Management, Procurement, Order and Billing Management, Warehouse and Fulfillment, Revenue Recognition Management, Financial Planning, Human Capital Management, Recurring Revenue Management Financial Management, Human Capital Management, Expenses, Talent Management, Time Tracking, Payroll
On-Premises
Cloud
Target Market Mid-sized companies
Mid-sized companies
Small and Mid-Size business
Small and Mid-Size business
Small and Mid-Size business Small and Mid-Size business
Small and Mid-Size business
Fusion Financials - EY Qual and Lessons Learned
EY Qual
Company Profi le
Scope
Domestic mid market Life and Property and Casualty insurer requesting assistance with assessing Fusion Financials configuration, define future state data integration strategy, streamline financial close processes and implement Planning, Budgeting and Forecasting capabilities.
EY was asked to perform a comprehensive assessment of the Fusion Ledger, Assets, Payables, Cash Management and Expense modules, define future state data integration strategy and implement Oracle’s Planning and Budgeting Cloud Service (PBCS).
Project Approach Assessed current state business process and reporting requirements
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Analyzed current state architecture and Fusion application configuration
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Prioritize data feeds and reports (required for automation)
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v
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Reviewed Chart of accounts security design and end user access Demonstrated Fusion functionality to support end to end processes Design and conduct Oracle Fusion end user training
Benefit s Achi eved v
Enhanced target state reporting architecture, including data integration and reporting strategy
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Expanded the use of Fusion Assets to support Tax Reporting
Automated aggregation and reporting for Financial and Workforce Planning models
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Supported Fusion Financials R10 upgrade, Change Management and End to End testing
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Streamlined user and data role access per internal control requirements
Lessons Learned ►
C urren t version of Fusion Finan cials suits com pa nies w here business p rocesses are stan dard as it need s co nsiderable technicalefforts and infrastructure to supp ort custom izations.
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Lack o f access to d atab ase lim its opportunities to cu stom ize ap plications.
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Integration w ith 3 rd pa rty products requires additional infrastructure to support the au tom ation of data feeds.
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Fusion A ccou nting H ub is not offered as p art of the C loud offering.
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O racle TransactionalB usiness Intelligence (O TB I) provides rea ltim e reporting and analytics em pow ering b usiness users w ith the capability to create their ow n d ashboards an d repo rts.
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Security an d en d user role de finitions have undergo ne significant architectural chan ges m aking it less technical an d m ore configurab le.
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Flexible an d sea m less process to sched ule upgrad es an d p atching.
EY Contacts James Tarantino
Raghu Rajendra
Senior Manager
Manager
Ernst & Young LLP
Ernst & Young LLP
5 Times Square, New York,
200 Clarendon Street, Boston,
NY, 10036
MA, 02116
+1 212 773 3359
+1 617 375 1452
[email protected]
[email protected] Vinod Sodhani Manager Ernst & Young LLP 5 Times Square, New York, NY, 10036 +1 212 773 0359
[email protected]
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