Financial Close Manager: A Pathway to Streamline and Accelerate Your Close Operations!

Presented by: Megha Chopra and Mohit Jain, GenPact

Manual tracking of the close process, using excel, and e-mail is one of the reason companies still experience issues in their close process from an accuracy, transparency, complexity, and comprehensiveness perspective.
By standardizing and embedding controls in period-end close processes, organizations are able to eliminate labor-intensive, non-value adding activities and streamline decentralized and disjointed workflows that lengthen cycle times, increase the risk of control failure, and threaten the integrity of financial statements.
Oracle Financial Close Manager module of FCCS is built for centralized, web-based management of period-end close activities across the extended financial close cycle. It helps to manage all financial close cycle tasks, including ledger and subledger close, data loading and mapping, financial consolidation, account reconciliation, tax/treasury, and internal and external reporting processes.

This session will include:

1. Close Manager Components (setup calendar, security, periods, ears, custom attributes, alert types, integrations)
2. Define Tasks for a Close Process – setup task types
3. Define Dashboard Views (calendar, task list, Gantt chart)
4. Create / Update Templates – (and validate) with repeatable close tasks
5. Setup / Update Schedule – by pulling from a template
6. Workflow process