Oracle Account Reconciliation Cloud Service (ARCS)
Gain Confidence in the Close
Oracle Account Reconciliation Cloud Service (ARCS) is a purpose-built solution in the cloud for managing and improving global account reconciliations. It provides real-time visibility into the performance of reconciliations and ensures that all reconciliations prepared are properly qualified.
ARCS fully integrates the accounts reconciliation process into the financial close. It helps streamline reconciliation processes, provides workflows for productivity and enables rules-based thresholds for automated certifications and risk assessments.
Define clear responsibilities and timelines that enable users to perform tasks relevant to their roles. Discover process trends and areas for improvement, that highlight opportunities to gain efficiencies.
Leverage existing IT investments by overlaying ARCS. Integrate data from all ERP sources. Trust in the accuracy of reconciliation data.
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Collaboration and workflow within a compliance-driven framework.
Gain workflow support for the account reconciliation process including monitoring, reporting, and analysis. Facilitate communication across distributed organisations and ensure capture of all audit documentation. Utilize rule-based thresholds for automated certification and risk assessments
Predicable process timescale that does not delay the financial close
Data normalisation and optimisation tools improve data quality and maximise the number of matches created
Improve finance staff efficiencies
Leverage existing IT investments and quickly integrate data from multiple sources including spreadsheets and native databases. Achieve integrated financial decisions driven by multiple sources of financial impacts
Reduced number of accounts to reconcile without compromising accuracy or increasing risk
Define match rules that produce 1 to 1, 1 to many, many to 1, and many to many matches. Configure tolerance rules that allow match creation with acceptable thresholds
Create adjustments for variances between data sources, and track the resolution of the adjustments
Clear responsibilities and timescales
Keep track of preparer and approver assignments for each reconciliation. Use teams to distribute workflow and ensure efficient and timely preparation
Role-based intuitive interface
Reduce training costs and increase user productivity with a web user interface and reports
Role-based tasks and work areas
Manage, perform, and approve tasks in configurable management work areas
Track operational efficiency and policy compliance
Pre-built dashboards enable process monitoring, immediate action on errors and delays, and process analysis to evaluate and improve close-cycle effectiveness