Main objective of Oracle Financials is

• to capture and analyze financial data
• to manage business to the targets that are announced to stakeholders.
• to enable management report to stakeholders.
• to meet obligations in:
  • Compliance
  • Financial Control
  • Regulatory Reporting
  • Cost Containment
  • Risk Management

Main modules that are part of Oracle Financials include:

• Oracle General Ledger
• Oracle Payables
• Oracle Receivables
• Oracle Assets
• Oracle Cash Management

Oracle E-Business Suite is an ERP offering from Oracle Corporation.

The purpose of Oracle E-Business Suite is a to enable a corporation:

•  to efficiently track detailed business transaction data
• and turn it intodecision making information

Oracle E-Business Suite is a second largest ERP product in the world, after SAP. It was formerly known as Oracle Applications.

Oracle E-Business Suite consist of more than 200 modules.  Modules are also known as business applications.

Modules are further grouped into suites or families based on broader functionality they serve.

Following are import suites:

• Oracle Financials
• Oracle Manufacturing
• Oracle Human Resources
• Oracle Projects

We can say that Oracle E-Business Suite consists of suite of modules which in turn consist of modules.

Meaning:

1) You can use each module as a stand alone product.
2) But if you use more than one modules simultaneously, they would communicate with each other by transferring data and by sharing information, and hence resulting in a smarter and efficient information management system.

An Example:

Lets suppose there is a company that manufactures laptops.  This company decides to implements an ERP system.  A team of consultants would come in and study the business requirements and would implement an ERP system.  As a result each department of the company would end up using one more more modules.   Finance department would use financial module. Manufacturing department would use manufacturing related modules. Human Resources deparment would use human resources related modules etc.  The managment of the company could run reports that would display relevant data from accross the board.

ERP stands for Enterprise Resource Planning.

An ERP software provided an end to end information management solution for the whole enterprise.

An ERP software tracks business transactions taking place within an enterprise.  It enables management to run reports against captured data. Reports enable management to make right decisions.

Products competing in this area includes:

• SAP (SAP AG, Germany based)
• Oracle E-Business Suite (Oracle Corporation, US based)
• People Soft (Oracle Corporation, US based)
• JD Edwards (Oracle Corporation, US based)

For video based training please visit my website http://handsonerp.com

I hope you will benefit by the blogs.

Hasan Mir

Oracle Financials Video Based Training

Hello,

Welcome to “Oracle Financials Concepts” blog.

In this blog I will be taking a step by step approach to teach you Oracle Financials concept.s The right approach is to learn the concepts first and then learn the screen-level knowledge. Never try to reverse engineer concepts from the screens. That is a wrong approach. Your approach will dictate your destiny. If you want to fly high in functional consulting skies then start with concepts first.

Few words about myself. I have been doing Oracle ERP private consulting in Canada since more than 13 years. I am a techno-functional consultant, meaning I can setup Oracle ERP as well as modify it to suite customers’ needs. I also run a video based training website at http://handsonerp.com

I hope you will enjoy my blogs. I will see in my next blog.

Regards
Hasan Mir

Oracle Financials Video Based Training