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FCCS to ARCS: Compliance Reconciliation at Warp Speed

Datavail Presentation

FCCS (Oracle Cloud EPM Financial Consolidation and Close) is a preconfigured consolidation solution by Oracle, offering 11 system dimensions and 2 custom dimensions. It enables faster book closing, transparent reporting, and accurate data. CFOs and finance leaders are actively seeking this solution due to its significant benefits in streamlining financial processes and improving overall efficiency. Reconciliations on the other hand helps validate financial account balances to ensure accuracy, which is crucial for CFOs responsible for financial oversight.

As business conditions change, reconciliations become even more important in maintaining compliance and mitigating risks. Non-compliance can lead to severe penalties and financial consequences.

“Gartner reports that 80% of finance leaders agree that finance must significantly accelerate its implementation of digital finance technology to effectively drive business performance.”

In this presentation, Kelly Green, Senior EPM Consultant, discusses how to leverage FCCS dimensions and data integration to design, build, implement, validate, and test Reconciliation Compliance faster and more efficiently than starting from scratch.

Presentation Highlights:

  • Design, build, implementation, validation, and testing of Reconciliation Compliance.
  • Leveraging FCCS dimensions and data integration for compliance reconciliation.
  • Automating reconciliation tasks, supporting risk-based cycles, and gaining real-time visibility into reconciliation performance.
  • Utilizing Smart View and Excel to create reference tables and ensure ongoing maintenance.

Converting dimensions into attributes and mapping records between applications.

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