Oracle Fusion Financials 22A: Exciting New Features for Financial Transformation

Oracle continues to push the boundaries of financial management software with its Fusion Cloud Financials 22A update. This update introduces many new features and improvements aimed at streamlining accounting processes, enhancing insights, and driving collaboration across finance teams. Let’s dive into the key highlights:

Key Areas of Enhancement

• Budgeting and Control: Improved capabilities for creating private budget account groups, smoother budget balance synchronization, and a budget monitor focused on accounts with budget or consumption balances.
• General Ledger: Enhanced functionality for a chart of accounts mapping, cross-validation rule management via File-Based Data Import, and historical rates entry.
• Expenses: Expense delegates gain access to digest notifications, better field visibility in the mobile app, and the ability to receive attachments even after expense report approval.
• Payables: Suppliers are automatically notified when electronic invoices are rejected, workflow notifications can be customized, and the invoice requester can be recognized from the document.
• Receivables: The ability to apply unidentified receipts from the review receipt page, submission of customer disputes for transaction header sections via REST API, and improvements to the Receivables Transaction Interface Lines REST API.
• Advanced Collections: New data points for total receivable balances, the ability to change collection strategies using REST API, enhancements to collections pages, display of strategy and task start/end times, and updates relating to unpaid reason codes.
• Revenue Management: Finer control over currency conversion and the ability to make immaterial changes on contracts denominated in non-ledger currency.

Additional Enhancements

Beyond these core areas, Oracle Fusion Financials 22A offers broader improvements:

• Workflow Simplification: Easier workflow rules configuration for a more streamlined approvals process.
• Notifications: The capacity to send FYI notifications to members of hierarchies without requiring action.
• Audit Trail Enhancements: Tracking of changes made to workflow task configurations.

Optional Opt-In Process

Oracle’s 22A update utilizes a convenient opt-in process for new features. This gives you exceptional control over when to implement updates. Follow these steps to enable the features you desire:

1. Navigation: Go to Navigator > My Enterprise > New Features.
2. Selection: Choose the specific offering you want to review (or leave the default selection for all offerings).
3. Review: Explore the New Features tab and examine the available options.
4. Enablement: Click the icon in the Enabled column for the features you wish to activate.

Transforming Your Financial Operations

Oracle Fusion Financials 22A represents a decisive step forward for organizations looking to streamline financial operations, gain more significant data-driven insights, and boost efficiency. The opt-in process’s flexibility ensures that you can adopt these transformative features at the pace that best suits your organization.