This past week saw things get more serious with the Fusion Applications implementation. Our hosting team racked a blade in our data center and we started the installation of the media of Fusion Apps. The installation requires many steps and we’ll sharing with you some of the key points since we’re taking screenshots/documenting every step for future installations.
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The project team is having multiple meetings with our executive team to define which Fusion products we will target as part of the implementation. Thus far, we’ve decided that first phase will include the Fusion Accounting Hub (FAH) implementation, which will address some of the challenges that our Finance department is having regarding as accounting transformation and financial reporting.
So, what makes FAH so unique? Let’s take a look.
The components that are part of the product includes:
Used to perform accounting transformations on external system data. If you’re using the E-Business Suite you don’t need this feature, but if you’re consolidating legacy systems then you don’t have to worry about General Ledger interfaces, you just move the transactional data and FAH takes care of the accounting.
Combines traditional General Ledger functionality with embedded Oracle Hyperion Essbase functionality. This means that the product comes with a multidimensional analysis tool for Chart of Accounts, periods and currency providing drill down and drill through functionality.
Is a robust financial reporting and analysis tool that uses data from your balances cubes.
Provides a master data management solution for creating and maintaining hierarchies across your enterprise. This integration allows you to maintain your Charts of Accounts values and hierarchies in one central location, and then to synchronize your hierarchies in Oracle Fusion and E-Business Suite General Ledgers. These products require additional licensing.
Applications Coexistence integration with the Oracle E-Business Suite and Oracle PeopleSoft General Ledgers
This integration is the heart of the coexistence strategy. This strategy permits you to continue to use your E-Business Suite or PeopleSoft applications while also using the Oracle Fusion Accounting Hub. ITC will take advantage of our E-Business Suite Release 12 implementation to expand our reporting and analytical capabilities using the Financial Reporting Center and will also include the ability to drill down to the E-Business Suite account balances and transactions reflected in the Oracle Fusion reports and dashboards.
Stay tuned for more information on the progress of the Oracle Fusion Applications implementation. Thanks for your support!