Odds are good that your team already knows that Wands for Oracle puts finance teams in control of their own reporting. Offering purpose-built software that deeply integrates with Oracle E-Business Suite in Excel, Wands gives you quick access to the real-time data you need, when you need it, without relying on IT or resorting to manual data dumps.
However, as finance’s corporate reporting responsibilities continue to expand, so too does its technology needs. EY’s recent Global Corporate Reporting Survey highlights that communication of ESG performance is putting significant pressure on the finance leaders responsible for its preparation. Of the roughly 1000 CFOs surveyed, over 70% of them thought that scrutiny of performance against ESG goals has accelerated in recent years.
What was the biggest challenge for these CFOs in creating useful and effective ESG reporting? You got it – the disconnect between ESG reporting and mainstream financial information.
Looping operational data into the mix adds pressures to integrating that data with your financial data. Without deep insights into your organization’s operations, you lack a clear understanding of company-wide performance and data analysis to shape your future. Future-facing organizations require a purpose-built tool to connect their analysis to the right data.
What Needs Are Going Unmet?
Wands for Oracle handles your team’s financial reporting needs, but it’s critical for them to have better awareness and a stronger understanding of all activities that impact the GL. Lacking the ability to identify and examine the underlying root causes behind the issues in financial reports (e.g., low revenue), your finance team doesn’t have the information they need to efficiently communicate with the necessary functional leaders. Your team need to be able to research and autonomously resolve the issues at hand.
Creating the actionable insights your business needs to respond to volatile market conditions and outpace your competition is typically a complex process that falls upon IT. Custom reports or dashboards are requested by business leaders, and eventually delivered by teams of data analysts from the IT team or a partner. This process can often take weeks, if not months, and in many cases, the report or dashboard is limited to a single use case and applicable only to a single business unit or user – perhaps only the requester.
Obstacles you might face include:
Slow manual process & complexities: So much effort is involved in creating operational reports. Despite these efforts, some non-financial users can be underwhelmed by lackluster results (pivot tables, spreadsheets). Without an experienced developer on hand to help them create or update a report with the right query, non-technical users are left manually dumping data into spreadsheets for reporting. Even then, these cumbersome reports lack depth and flexibility, because more functionality requires deep technical knowledge of Oracle EBS.
Excel-based reports aren’t the answer for everyone in the organization: Spreadsheets may be the darling of finance teams, but not all business users prefer this format for consuming reports. The executive team and wider organization want to understand the full story behind the numbers. Spending hours formatting in Excel isn’t sustainable and leads to unnecessary risks and delays.
Too difficult & inflexible: Oracle data models are complex and difficult to integrate with other ERPs, BI tools, and cloud data warehouses. Changes made to the data model will often require technical support including, but not limited to, a forced reboot of connected applications.
Limited analysis: Generating analysis outside of a pre-defined report generally requires sending a ticket to IT. This is compounded when transactions are spread across multiple tables and when drilldowns to transactional data are slow and manual. Users need to go in and out of individual reports to get specific data they are looking for.
An Acute Need for Angles
For Oracle EBS users, Wands and Angles for Oracle bring insightsoftware’s ERPsmarts to your operational reporting process. With Angles you can explore all your company data, not just what is in the finance modules, with a tool that provides you real-time access within a business-rich context to all your organization’s EBS data.
Angles for Oracle delivers a context-aware, process-rich business data model, a library of 1,800 pre-built, no-code business reports, and a high-performance process analytics engine for Oracle Business Applications, including E-Business Suite and Oracle Cloud Applications (OCA)/Oracle ERP Cloud. This integrated solution helps you unlock your enterprise data and gain actionable insights to act with decisiveness in an uncertain and quickly changing world.
Hit the ground running with a comprehensive library of extensible, interactive business views. Give your team a head start with pre-built content packs specifically designed for your ERP, covering common financial, HR, supply chain, and other operational reporting needs.
Provide an easy-to-use, self-service interface to create reports or dashboards for your business users. Perform searches using everyday business language rather than highly technical query languages like SQL. Offer results in Excel or the BI tool of choice for the organization without an in-depth knowledge of the enterprise data model.
Manage and report on data from single or multiple Oracle ERPs (whether on-prem, cloud, or hybrid) and integrate with most popular BI tools. Angles will interpret Oracle data for use in other applications and will even respond appropriately to changes made in the underlying Oracle data model with need for IT intervention.
With business views tailored to your unique application environment, Angles for Oracle delivers the fastest time to answers of any operational/analytical BI solution in the market. Transform the critical data in your Oracle ERP applications into actionable insights and give the power of operational analysis to the people who need it most—your business users.