Do you have complex accounting requirements? Multiple legacy systems that duplicates accounting efforts with each system? Difficulty enforcing company-wide financial standards?
The Oracle Financial Accounting Hub (FAH) solves these issues and more by creating a centralized, auditable accounting system for external and/or legacy systems. FAH has a configurable rules engine and configurable rules repository (user-defined) that keeps the definition and maintenance of accounting rules in one place. It can: act as the accounting engine for any subledger (Oracle or non-Oracle), create adjusting journal entries, provide drillback from General Ledger (GL) to FAH, validate and transform source data, and fully leverage GL setups (open/close period, COA structure, segment values, cross validation rules, calendar, functional currency) to ultimately provide you with an efficient and compliant financial system.
At Cleora Consulting, we have not only successfully implemented FAH, but we are also one of the few companies that have developed utilities to facilitate the implementation and usage of FAH such as FAH Web Application Desktop Integrator’s (ADI) and custom source utility functions.
As a result of our dual expertise implementing FAH and developing our own FAH enhancements, Oracle FAH developers have asked ESG to work with them to resolve issues, such as the importance of creating custom indexes to facilitate FAH performance.
Is FAH a fit for you?
FAH may be right for you if:
Oracle EBS and/or PeopleSoft are not a good fit to replace your proprietary operational (ordering, billing, inventory, purchasing) systems
Detailed financial reporting is required on legacy system attributes not typically a part of the Chart of Accounts;
Accounting requirements for legacy systems are complex and subject to change; and/or
You are in the financial services (insurance, banking, brokerage), telecommunications, or distribution industry