inlumi blog

Oracle Analytics Cloud (OAC) was initially released during the second quarter of 2017 as part of Oracle’s Cloud strategy. The OAC software is fully compatible with all Oracle Cloud products and fits well with a wider Cloud solution strategy.

An opportunity to introduce improved methods for group reporting

In 2013 OECD and G20 countries adopted a common action plan on Base Erosion and Profit Shifting (BEPS) that identified 15 actions to combat profit shifting.

Country-by-Country Reporting (CbCR) is part of the OECD's Action Item 13. In short, large multinationals must provide an annual report that breaks down key elements of the financial statements by jurisdiction.

Now that we know the robots are coming, what makes a process a good first candidate for automation?

In this post we will outline the key areas that should be considered to try and answer this question.

Automation: it is everywhere in the Accounting and Finance world, from invoicing to salary payments. Where there is a large proportion of repetition in a boring workflow, automating it is the sensible option.

In the blog post "What is analytics and why do we need it?" I stated that the data from disparate data sources should ideally be collected into a common data warehouse. Let's take a midsize company as a simple example in order to make this more tangible. The company makes money by billing hours and would therefore at least track the following profit metrics: employee cost, utilisation and forecasted earnings. Even a small company would need the following systems:

Will the software solution solve my planning issues?

In recent years, we have experienced many new software solutions for planning, budgeting and forecasting (PBF). Companies have acquired and implemented new software solutions with the anticipation that their PBF issues disappear like snow in the sun.

As a Financial Controller, you might love Excel. But simply using spreadsheets for the creation of your budget or forecast has significant consequences.

This time around, I’m writing about elimination of percentage of completion elimination (POC). This concerns companies with long-term projects and who choose to book the revenue based on the POC. Instead of booking the revenue once when the entire project is finished, revenue is booked gradually as the project progresses based on the share of the incurred cost of the estimated total cost and estimated margin.

The need for change is just around the corner. Software and hardware are evolving together with trends and needs at the speed of light.

Many of you are probably working actively on finding the most optimal way forward, and one conclusion can be to go for a Cloud solution that supports your need and demands.

How to spend more time with your loved ones during the year.

Finally, the holidays are coming, so we all have a moment to catch a breath after another year of hard work and your share of what life has to offer you. With the year near its end, this is also a moment for reflection. What happened this year? Did we spend enough time with our loved ones?