Fusion Analytics for Oracle ERP: Unlocking the Power of Data
The finance department has evolved beyond having just financial statements and reports. Organizations are now embracing analytics and visualization to gain a better picture of their financial status.
However, full visibility of capital and operating expenses across different departments in a multi-faceted business can be vexing. Oracle Fusion Enterprise Resource Planning (ERP) Analytics was introduced by Oracle to mitigate this challenge.
Bundled with Oracle Fusion Analytics Warehouse, Fusion Analytics for Oracle Cloud ERP provides a holistic view of financial and procurement data.
Oracle Fusion ERP Analytics helps organizations to uncover insights from their financial performance–where and how the money is spent. This enables them to maximize their business output and success.
Through this blog, we explore more about Fusion Analytics for Oracle ERP, its features, use cases, and real-life examples. We will also take a quick peek into the Oracle Fusion Analytics Warehouse suite and its components.
Oracle Fusion ERP Analytics
Oracle Fusion ERP Analytics is a pre-built analytics solution for Oracle Cloud ERP that helps derive insights into profitability, spend analytics, and working capital management.
The solution empowers users to delve deep into key topics such as ledger, receivables, spending, procurement, employee expenses, and assets. This ensures that finance and procurement professionals can solve bottlenecks in understanding capital utilization and operating expenditure to maximize business outcomes.
As mentioned, Oracle Fusion ERP Analytics is bundled as part of the Oracle Fusion Analytics Warehouse suite. It is a family of pre-built, cloud-based analytics applications for Oracle Cloud Fusion Applications. This includes:
- Oracle ERP Analytics
- Oracle HCM (Human Capital Management) Analytics
- Oracle CX (Customer Experience) Analytics
- Oracle SCM (Supply Chain Management) Analytics
This enables cross-functional analytics where users can combine data from different functional areas into a single extensible data model to eliminate data silos and improve business outcomes.
Features of Fusion Analytics for Oracle ERP
Fusion Analytics for Cloud ERP consists of prebuilt KPIs, predictive analytics with machine learning, reports, and visualizations to have a holistic view of your business expenditure and profitability.
Let’s take a look at the various features of Oracle Fusion Analytics for ERP:
Cloud Fusion ERP Analytics possesses a pre-built KPI library with more than 1000 best practice ERP KPIs that enable users to monitor their performance against their objectives.
Oracle provides a pre-built and fully-managed data pipeline to help users model for Oracle Cloud ERP data and conduct cross-functional analytics.
Machine Learning and Predictive Analytics
Fusion Analytics for Cloud ERP solution layers machine learning, NLP, and predictive analytics to predict outcomes and detect business risks.
More data sources
Users can easily blend non-Oracle data from external data sources and have a holistic view of performance. For instance, import an Excel file of supplier credit ratings and mash up with supplier spend data.
Benefits of Fusion Analytics for Oracle Cloud ERP
Integrating analytics and visualization into ERP systems has numerous benefits for businesses. Here are some of them:
Fusion Analytics for Cloud ERP enables organizations to deploy analytics for every department and provide a holistic view of enterprise information. This integrated approach ensures that finance professionals have full visibility into business processes and data.
Identifying business risks
Machine learning and predictive analytics empower users to reveal trends and patterns and foresee future events. This proactive approach ensures organizations identify their businesses’ risks and optimize their operations for the future.
Time and cost savings
Cloud Fusion ERP Analytics equips professionals to make informed decisions and improve business performance, thereby creating time and cost savings.
Accessing and interpreting data are not enough. Finance and procurement professionals should effectively communicate these insights with their collaborators. Fusion Analytics for Cloud ERP enables them to track metrics and highlight patterns.
Improved decision making
Real-time access to data and KPIs ensures that users can identify areas for improvement in terms of cost, revenue growth, and process optimization. This drives strategic decisions and improves overall performance of businesses.
Use cases of Oracle Fusion ERP Analytics
Analyze working capital
Users can get a holistic view of their financials to optimize working capital. They can improve payables and receivables quantity by analyzing trends and understanding transaction details. KPI benchmarks can also be used to address and resolve uncovered issues.
Understand cost drivers
Cloud Fusion ERP Analytics empowers users to have a detailed breakdown of finance and understand cost drivers across the organization. They can also combine finance data with cross-functional analytics such as HCM and SCM data to gain deeper insights into employee costs and operational costs, respectively.
Evaluate spend and procurement
Users can seamlessly integrate finance and procurement data across organization-wide expenses. This provides full visibility into organizational spending and helps find costs saving areas. They can also mitigate financial risk by tracking spend patterns and other metrics.
Real-life applications of Oracle Fusion ERP Analytics
Here are some real-world applications of Oracle Fusion ERP Analytics across industries:
Manufacturing companies can utilize insights from Fusion ERP Analytics to optimize production processes, logistics and supply chain, and financial management.
In the retail industry, businesses can use ERP systems to manage inventory and supply chains and also derive insights about customer behavior, demand forecast, and sales promotions.
Healthcare providers can integrate Fusion ERP Analytics data into their solutions to manage patient data and processes involved in the entire continuum of care to improve health outcomes.
Oracle Fusion ERP Analytics helps educational institutions to optimize student and faculty management, analyze student performance, and improve teaching methodologies.
In the finance industry, businesses can use Fusion ERP Analytics to manage risk, compliance, and accounting. They can also derive insights from market trends and investment patterns.
Fusion Analytics for Cloud ERP empowers organizations to have a full bird’s eye view of their financial performance.
Oracle Fusion ERP Analytics is a pre-built solution from Oracle for finance professionals to analyze and uncover insights from working capital, expense, and procurement. Part of the Oracle Fusion Analytics Warehouse suite, Fusion ERP Analytics helps extract data from systems across departments and make informed decisions.
Its benefits include a holistic view of data, time and cost savings, better collaboration, and improved profitability. Fusion Analytics for Cloud ERP finds applications across multiple industries, such as healthcare, retail, education, and manufacturing.
The analytics solution empowers organizations to free up their finance and procurement professionals from tedious tasks and focus on what matters– better productivity and business growth. BI Connector does the same.
We enable users to connect data visualization tools Power BI and Tableau to their Oracle BI data– OBIEE, OTBI, OAC, OAS, and Oracle Fusion (HCM, SCM, ERP, CX). You can securely connect to Oracle subject areas and reports in minutes and start creating interactive dashboards.
BI Connector supports both Import and Direct Query modes. It’s available for Desktop and Server editions of Power BI and Tableau.
Our solution can be downloaded for free and has a 30-day free trial. To know more, check the banner below.