Oracle Announces Oracle® Daily Business Intelligence for Compliance
Business Managers, Compliance Professionals and Executives Gain Greater Business Insight with Integrated Compliance Reporting
REDWOOD SHORES, Calif. 08-MAY-2006 Oracle today announced Oracle(r) Daily Business Intelligence for Compliance, an embedded compliance management reporting system for Oracle E-Business Suite that provides pre-built, compliance-focused key performance indicators (KPIs) and reports that show business performance and risk indicators in a dashboard environment.
Historically, business managers, compliance professionals and executives relied on an inefficient combination of reports, spreadsheets and homegrown systems to manage their compliance process. By integrating Oracle Daily Business Intelligence and Oracle Internal Controls Manager, which documents and tests internal controls and monitors ongoing compliance, companies can focus on identifying potential compliances issues, such as ineffective controls and unmitigated risks, and take immediate corrective measures. Oracle Daily Business Intelligence for Compliance provides a single architecture for reporting and compliance monitoring transaction applications, while helping to maintain security and auditability.
Enable Improved Efficiency and Lowered Risk for Financial Statement Certifications
By law, senior executives are required to certify financial statements, and organizations must prove the effectiveness of internal controls every fiscal year. Oracle Daily Business Intelligence for Compliance provides aggregated information throughout the entire process in one dashboard.
Top executives need to respond quickly to issues of potential risk and process certification. Oracle Daily Business Intelligence for Compliance provides a view into the negative evaluation and certification results in the KPI region of Oracle Internal Controls Manager. Executives now have the ability to drill down from risk areas within a graph to view information such as ineffective controls, open findings and past due remedial actions.
Provide Greater Transparency with Automated Monitoring
Compliance managers must have access to current status of compliance management projects. Oracle Daily Business Intelligence for Compliance enables users to track significant account evaluation and process and organization certification progress by showing negative evaluations and certification completion percentages. Moreover, the evaluated and certified results are broken down further for detailed analysis. For example, pie charts offer graphical representations of significant accounts evaluated showing the proportion that have a control weakness.
“Sustainable financial compliance management requires continuous financial and process information monitoring with access to current status of actions and potential risks,” said BearingPoint Compliance Practice Lead, Commercial Services Senior Manager, Anthony G. Tarantino, Ph.D. “With visibility into immediate compliance information, we’re able to help our clients make faster decisions to minimize the impact of potential compliance issues and accelerate financial reporting.”
Offering a complete set of analytic applications and BI tools with a comprehensive, unified portfolio of integrated business analytics software, Oracle is uniquely positioned to improve business visibility, while helping to reduce the cost and complexity of deploying and maintaining enterprise business intelligence solutions. For more information about Oracle Business Intelligence and Corporate Performance Management (CPM) products, visit: http://www.oracle.com/bi.
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