Oracle Fusion Financials 23A: New Features and Enhancements for Modern Finance

Oracle Fusion Financials is constantly evolving, and the 23A update brings a fresh wave of valuable features and improvements. This update helps businesses streamline their financial processes, gain deeper insights, and make more data-driven decisions. Let’s dive into the key highlights:

Workflow Improvements

• Workflow Transaction Console Extended: Oracle has now expanded the helpful Workflow Transaction Console to cover Payment Approval workflows. This offers centralized monitoring, exception resolution, and a powerful search for key financial workflows.

Enhanced Joint Venture Management

• Joint Venture Consistency: Rules now enforce greater consistency in joint venture processes, ensuring changes to attributes are made at the appropriate times for smoother collaboration.
• Pay Non-Operating Partners: Oracle Fusion Financials 23A simplifies payments to non-operating joint venture managing partners. This allows cost distribution and settlement directly within the software.
• OTBI for Joint Ventures: Get operational reporting on joint venture transactions alongside their associated sub-ledgers, overheads, and general ledger information for better decision-making.

Self Service Financials

• Expense Report Printing: The attached images are automatically included in a single PDF with expense reports, making them easier to manage and print from the system.
• Workflow Rules Report: Analyze and review your Oracle Business Process Management rules for financial workflows in greater detail. This report provides valuable insights into your rule conditions and approval configurations.

AI-Powered Innovation

• News Feed Suggestions: Oracle’s AI algorithms now suggest what actions you likely want to take next within Financials. This feature, available through Controlled Availability, can streamline your work and save time by predicting your needs.

How to Access Update 23A

The process for gaining access to the 23A features may vary:

• New Customers: This update will likely be enabled by default if you’re a new Oracle Fusion Cloud Financials customer.
• Existing Customers: For specific guidance, refer to the ‘Steps to Enable’ section of the 23A release documentation. Some features can also be enabled through the ‘Opt In UI.’

Beyond Update 23A

Look to the Oracle Fusion Cloud Financials What’s New document for the most comprehensive picture of the update’s impact. Oracle regularly releases updates, so stay informed about the latest features that can optimize your financial operations.