When done right, a product demo is worth a thousand slides. The demo series Move Finance Forward demonstrates capabilities that finance teams could only dream of until now-whether it's automated account reconciliation or scenario planning. In the first of a series, Jon Summy and I demonstrated the power of automated account reconciliation and transaction matching in Oracle Fusion Cloud EPM.
Doing monthly account reconciliation can be like hitting a large pothole in the middle of the road: painful, frustrating, and unavoidable. Depending on a company's size, there can be tens of thousands of reconciliations to perform. This volume often requires the attention of hundreds of accounting personnel and involves a mountain of disconnected spreadsheets.
Having an outdated process or system can be a liability when trying to do reconciliations and transaction matching. Oracle Cloud EPM automates this end-to-end process for you with our account reconciliation capabilities. Many of our customers, like Lyft, have dramatically shortened their financial close process. Three key attributes of Oracle Cloud EPM help our customers speed up account reconciliations and close their books faster: