Built to take advantage of the processing capabilities of Oracle Engineered Systems such as the Exadata Database Machine and SuperCluster, two new applications from Oracle enable real-time simulations to help the office of the CFO improve decision making for better business performance.
The new applications, which are part of what Oracle calls the “Real Time Bottom Line,” are the PeopleSoft In-Memory Financial Position Analyzer and PeopleSoft Financial Allocations Analyzer.
Traditionally, CFOs have had to model their financial position by exporting information, usually in summarized form to a spreadsheet or other external analytics, resulting in data that is not complete and is less than real-time, explained John Webb, vice president, Oracle PeopleSoft, noting this can inhibit the accuracy and timeliness of business decisions.
“What we have done is combined the best of both worlds,” said Webb. There is now the ability to leverage all of a customer’s financial information, live production information and take that into an in-memory model on the same Exadata platform that they can run their production environment on. “We have the capability to run multiple scenarios, do comparisons of scenarios, and more importantly, be able to deploy that information to the production system so it is more of a closed loop process.” With this closed loop process, business rule changes that are evaluated in simulations can be automatically deployed into production simply by selecting the desired scenario.
The new solutions eliminate the need to export information out of the enterprise system, and they also are able to use information at the level of granularity that exists in product data, so there is no summarization or guesswork and no data latency, said Webb. As a result, the cycle time is shortened considerably and the accuracy of the data can be trusted highly since organizations know that the information is current and complete.
Using simulation analysis and comparisons, organizations can discover business growth opportunities and capitalize on them, can reduce potential cost risk and take corrective action during the financial period. This is critical because organizations want to understand their financial data before a quarter ends so they can make decisions that will enable the best outcome before the close of the quarter or other financial time frame, noted Webb.
Supported by an intuitive interface and powerful processing throughput, the applications enable users to process data, conduct analysis, and compare financial results faster, enabling them to make quicker and smarter decisions that can proactively impact their organization’s bottom line.
More information is available about the Real Time Bottom Line Oracle In-Memory Applications for Oracle’s PeopleSoft: Oracle’s PeopleSoft In-Memory Financial Position Analyzer and Oracle’s PeopleSoft Financial Allocations Analyzer.