Oracle Corp. on Thursday will announce an upgrade to its Oracle Financials suite, part of the companys E-Business Suite.
New intelligence and risk management applications added to Oracle Financials, version 11.5.8, available later this week, are designed to help businesses increase financial viability and manage risk.
Specifically, 11.5.8 brings improved business intelligence tools that add expanded role-based financial intelligence. New features include a profit and loss portal and an expense management portal that provide the ability to drill down from financial balances to supporting detailed transactions.
In terms of managing financial risk, Oracle has added a namesake Risk Management application geared toward helping companies manage their financial exposure globally by better managing liquidity and cash.
The Risk Management application provides a set of pricing and analysis tools that enable complex tasks the likes of calculating prices and sensitivities of financial instruments or analyzing a portfolio of treasury deals for market risks, officials said.
Oracles Financials software is among its most mature, with a 15-year history. Its the hub of the companys sales, marketing and supply chain management modules, and sits beside Oracles human resource module.
At the core of the financials offering are general ledger, accounts receivable, accounts payable and fixed asset applications.
Oracle, of Redwood Shores, Calif., plans to expand that footprint to include everything a company would need to track financials, including new capabilities for self service, supplier portals, receivables, property manager and treasury and risk assessment, according to Steve Miranda, vice president of application development.
“The big drivers are to streamline business processes, consolidate and enable the real time enterprise,” said Miranda, in Redwood Shores. “With increased pressures on time and transparency on reporting with CEO and CFO sign-off, its forcing companies to become more of a real-time enterprise, and in reporting, to disclose any financial events.”