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Beefing up the financial modules that complement its E-Business Suite, Oracle Corp. announced Wednesday upgrades to its namesake Internal Controls Manager and Financial Consolidation Hub.
The upgrades are geared toward helping companies keep up with compliance mandates like Sarbanes-Oxley by integrating the process of reporting with compliance efforts.
To do this, Oracle has actually integrated Financial Consolidation Hub 2.0 with Controls Manager 5.0 in this latest round of upgrades.
The 2.0 version of Financial Consolidation Hub provides dashboards that pinpoint the status of financial consolidation and the internal controls certification process.
The integration to Internal Controls Manager 5.0 lets users drill down from financial statements to live transactional details in Oracles General Ledger application, and across to Controls Manager for certification results, officials said.
At the same time, Internal Controls Manager utilizes some of the technology inherent with Oracles E-Business Suite, including its Daily Business Intelligence and XML Publisher, to better enable users to meet auditor reporting requirements.
Similarly, the Financial Consolidation Hub comes with spreadsheet interfaces that sit on top of the data mining and OLAP capabilities in the Oracles 9i and 10g databases.
Using the spreadsheets, users can also drill into various modules—accounts payable, accounts receivable, GL, fixed assets—within the E-Business Suite.
The Oracle Financial Consolidation Hub 2.0 is available now. Internal Controls Manager 5.0 will be available sometime this year.
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