Introduction

This article will helps to understand basic overview of Fusion Financial Applications and Functional Setup Manager along with key offerings in Fusion Financial Cloud. We will also try to understand Multi-Org structure in Fusion Financial and will understand enhancement in Fusion multi org. Oracle acquired many products in past and took best feature of these in Fusion Apps. Oracle Fusion Application offers 7 pillars and these are- 

1.       Financial

2.       Human Capital Management

3.       Procurement

4.       Projects

5.       Customer relationship Management

6.       Supply Chain management

7.       Governance Risk and Compliance

We will restrict ourselves to Oracle Fusion Financial Cloud and below is the details of offering under Oracle Fusion Financial Clouds- 

Key Feature of Fusion Application-

• Most of the concept started in R12 are still available in Fusion Apps with extra features.

• Reporting is now integrated with Hyperion which helps to get various analysis and quick reporting of GL balances.

• Role based dashboard helps to identify priority task and issues to which needs quick attention.

• Charts and graph with different colors helps to analyze trend for example quick decision can be made if graph shows sales is going down.

• No need to take help of third party tool for image integration of supplier invoices. This will helps to minimize cost of managing third party.

• Simultaneous accounting of multiple reporting requirement and user can reports in GAAP or IFRS.

• Based on GL balance, user can create reports in smart view which is an excel add in Fusion where we can drag and drop different account or options to generate reports.

• At the same time user can drill down to transaction/journals level to see details of transactions.

 Key Benefits of Fusion Applications-

Integration with Hyperion in Fusion helps to generate real time data. As soon as we post journal in Fusion General Ledger, at the same time this is also posted in Hyperion. A user can see the latest available balance at any given time in Fusion General Ledger. No need to wait for any other process to complete to see the updated balance, latest data/ balance is available for analysis immediately.

Reporting can be generated in different reporting requirement and if there is any exceptions, that are visible in home page which need quick attention to solve error.

Oracle Cloud services are available for Fusion Apps and no need to worry about Hardware/Software management. Customer will have options to opt for on premise or Cloud services. If customer feels that cloud services or Premise option is not suitable, they can  switch between the options with minimal efforts.

Functional Setup Manager (FSM)-

• All functional task are set up in Functional Setup Manager which are just like set up pages or form in 11i/R12.

• All the configurational task are performed in FSM.

• Date effective hierarchy can be defined for a specific date range and reports can be run for a particular hierarchy by choosing from different options.

• COA instance can be attached with different values set which differs from COA structure value set.

• Roles based access control can be defined which is similar to responsibility.

• Essbase Cube helps to generate reports with flexible reporting option to make quick analysis.

• Setup and maintenance is the area through which we can navigate to FSM in Fusion.

A user need not to switch between the responsibility as there is a dashboard on the Homepage to the business function you have access to according to your roles. Under the navigator, a user can see entire Dashboards (equivalent to responsibility in EBS)

Multi Org Structure in Fusion Application-

Multi-org is different from EBS multi org, Business Group name is now known as Enterprise. Operating unit in Fusion is now Business Unit and each business unit will have some function to perform in Business Function like payable, receivable or order management. These Business functions are attached to the Business Unit.

Multiple Legal entity can be assigned to a Ledger and if multiple Legal Entities are assigned to Ledger than we need to map balancing segment to Legal entity not to Ledger. Segregation can be done now on Business unit level which is not applicable in EBS at operating unit level (equivalent to Business unit in Fusion)

             Diagram explaining Multi-org structure in Fusion Application.

Comments   

0 #1 Hardeep Singh 2014-11-28 09:25

Nice document Surinder, Crisp and Clear as always

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0 #2 Radhika Agarwal 2014-11-28 10:32

This is very well explained, thanks a lot for sharing your experience on this new technology

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