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What is Oracle Financial Consolidation and Close?

Quickly set up your operations with integrated features that exemplify best practices, including real-time calculations. Reduce the need for extensive adjustments, as key financial reports like cash flow, balance sheet, and income statement are generated automatically, along with actionable insights and rollovers. Simplify the adherence to international reporting standards, such as International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), by leveraging a pre-built consolidation model. Improve the accuracy and efficiency of your closing process by reclassifying, adjusting, and eliminating data across various hierarchies, made possible by integrated consolidation functions. Manage the intricacies of legal and management rollups that may have unique calculation and reporting requirements with ease. Gain control over the closing process by continuously monitoring crucial metrics throughout your organization. You can either employ existing calculations or easily create customized solutions that cater to your business's specific needs, ensuring all facets of your financial reporting are managed efficiently. This allows you to concentrate on strategic decision-making while ensuring compliance with required standards. Ultimately, this streamlined approach enhances overall operational effectiveness and empowers you to respond swiftly to evolving business needs.

What is CloseCoda?

CloseCoda is a tailored solution designed to meet the consolidation requirements of Workday Financials, specifically addressing the complexities involved with multi-level hierarchy waterfalls and elimination tasks that native Workday tools fail to adequately manage. By facilitating the quick and accurate generation of consolidated trial balances and reports across multiple entities, levels, and time periods, it enables organizations with complex structures to achieve financial closures more efficiently. With automation features focused on effective data consolidation, elimination at sub-levels, and the ability to manage large column counts, CloseCoda can be adjusted to align with your specific organizational needs and serves as a comprehensive solution both during the initial implementation and after the system goes live. Moreover, it operates under a subscription framework, providing ongoing support and functionality. Clients have reported notable decreases in the time required for consolidation tasks, with many implementations being finalized in a mere 3 to 5 business days. The platform not only streamlines the implementation process but also improves enterprise-level reporting capabilities across a wide range of projects or portfolio companies, consistently delivering reliable consolidated data without the necessity for manual involvement. Ultimately, CloseCoda allows organizations to refine their financial processes, guaranteeing enhanced accuracy and effectiveness in reporting while also fostering a culture of continuous improvement. This dedication to innovation positions CloseCoda as an essential asset for any organization seeking to elevate its financial management practices.

Media

Media

Integrations Supported

Workday Financial Management

Integrations Supported

Workday Financial Management

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Oracle

Company Location

United States

Company Website

www.oracle.com/performance-management/financial-consolidation-close/

Company Facts

Organization Name

Kognitiv

Date Founded

2008

Company Location

United States

Company Website

kognitivinc.com/closecoda/

Categories and Features

Categories and Features

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