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Modernization, Cloud Enablement, Managed Services

Why You Should Consider the Switch to Oracle Accounting Hub Cloud Service

[fa icon="calendar"] June 30, 2020 / by Highstreet

Oracle® Accounting Hub Cloud is a robust accounting engine that integrates and aligns information from virtually any source system to consistently enforce accounting policies and meet multiple reporting requirements, giving customers the agility, control, and insight needed to run their business. 

Does your Organization… 

  • Have source systems that require detailed or complex accounting such as deferred revenue recognition? 
  • Require multiple accounting representations for each transaction, such as CASH, ACCRUAL, IFRS, STAT, Local GAAP? 
  • Have many ERP systems and want to provide a shared service across multiple entities or divisions?  

Then Accounting Hub Cloud Service (AHCS) may be the right choice. 

 

Benefits 

AHCS has the ability to scale to extremely high transaction volumes. As part of their cloud service offering, Oracle has the responsibility of scaling the environment to achieve the agreed upon performance service level agreements for AHCS.  Highstreet has the expertise to create AHCS configurations that achieve high performance and high-volume service level agreements. Benefits of a successful AHCS implementation include: 

  • Reduction in the number of manual journal entries, both original source transaction and adjusting transactions 
  • Increase in automation of Account Reconciliations 
  • Shortening the number of days to complete the financial close 
  • Improved timeliness and accuracy of financial reporting, including more accurate and complete P&L reporting 
  • Increased automation and accuracy of source system feed reconciliations 
  • Support Improved Data Warehouse or Data Mart based financial and operation reporting by capturing detail transactions, including non-COA attributes required for operational and management reporting such as Customer and/or Product profitability 

AHCS has features that support automated reconciliation of general ledger accounts in Oracle Cloud ERP Financials. These can be leveraged to better support external account reconciliations tools such as Blackline or Oracle EPM Account Reconciliation Cloud Service. AHCS is a powerful tool that has the ability to integrate seamlessly with other general ledgers including NetSuite, SAP and Workday.  

Highstreet has completed AHCS implementations for the highest volume transaction customers including the largest to dateMake the switch and leverage the efficiency of Oracle’s Accounting Hub Cloud Service to empower your business with the insight and control you need.   

 

https://www.oracle.com/a/ocom/docs/applications/erp/oracle-accounting-hub-cloud-ds.pdf 

Topics: Oracle Accounting Hub Cloud Service

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Highstreet provides modernization, cloud enablement, and managed services for your Oracle applications and IT infrastructure.

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