Oracle Financial Consolidation and Close (formerly FCCS)

Oracle Financial Consolidation and Close Cloud Service (FCCS) is a cloud solution that can be configured to meet the unique needs of each organization. The consolidation system uses integrated best practices in conjunction with predefined content. This not only simplifies the product launch, but also accelerates it at the same time.

Depending on your needs, this consolidation solution from Oracle can be licensed separately or as part of the EPM Cloud. We at BLUBEIRD Consulting will be happy to advise you in deciding which license combination is the right one for your company and your use case.

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Gratis FCCS Demo

The business benefits

No hardware or IT investments
Easy to use
Easy to maintain
Application Creation Wizard
Fully customizable and owned by Lines of Business
Migrate from disconnected planning tools and spreadsheets
Work with latest version of the software
Multiple environments and global data centers for deployment
Seamless monthly patching
Customize solution to your specific business need
Best practices out-of-the-box
Configurable application framework for specific requirements
Powerful analytics, dashboards, reports and analysis functions
Hybrid cloud deployments

Consolidation Specific Features

Intercompany Eliminations
Journals with workflow
Currency Translation
Built in Foreign Exchange/Currency
Built in Translation Adjustment Calculations
Automated Cash Flow Reporting
Multi-GAAP Reporting
Detailed Data Source Tracking
Close Process Management
Supplemental Details
Office Integration

Start quickly
Get up and running quickly with built-in best practice features, including dynamic calculations.

Meet your requirements without customization
Reduce your need for adjustments as cash flow, balance sheet, income statement, rollovers, calls to action and more are automatically calculated.

Meet global reporting requirements
Reduce the time required to comply with global reporting requirements, including International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), with a pre-configured consolidation model.

A laptop with a project management screen on it.

Global advanced consolidation and financial statements

Perform complex consolidations
Increase the accuracy and speed of the close process by reclassifying, adjusting, and removing data for each hierarchy with prebuilt consolidation support. Work easily with the most complex legal and administrative rollups, which may include unique calculations and reporting requirements.

Manage KPIs
Manage close by automatically tracking key metrics across the business. You can use out-of-the-box calculations or simply create calculations for business-specific requirements.

Automate intercompany eliminations
Reduce manual work with automatic standard eliminations between companies. Additional functions can be customized as needed.

Convert currencies
Increase consolidation accuracy by using standard or customizable currency translations.

Consolidate globally
Consolidate your global firm with GAAP-driven applications that provide comprehensive currency support, intercompany eliminations, stock eliminations, adjustments, and detailed data source tracking.

Intelligent Process Automation (IPA)

Automate consolidations
Increase efficiency with advanced technologies that automate consolidations in the background and eliminate manual effort.

Orchestrate a connected closure
Streamline end-to-end completion with automated process monitoring, integration, and workflow capabilities.

Automate XBRL tagging
Reduce time and increase accuracy by automating XBRL tagging and taxonomies with natural language processing

Compliance and transparency

Enable audit compliance
Provide visibility and audit compliance for tasks such as journal adjustments with forced task separation, data changes, visible calculations, and user activity logging. Always see what changes have been made to the data and by whom.

Add additional data
Provide the complete picture for bank statement balances by collecting supporting details. Easy-to-create templates help with sign-offs, validations, and drillbacks from the source to create footnotes, analyze statements, and track detailed information

Oracle Financial Consolidation and Close (formerly FCCS)

The business benefits

Consolidation Specific Features

Pre-built best practices

Global advanced consolidation and financial statements

Intelligent Process Automation (IPA)

Compliance and transparency

Overview: Tour of Financial Consolidation (FCCS) and Close in EPM Cloud

Other Oracle EPM Cloud components:

Other Oracle EPM products (on premises):

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