Skip to main content

Difference between OFSAA and Oracle BI Financial Analytics

Difference between OFSAA and Oracle BI Financial Analytics

Oracle Financial Services analytical applications  (OFSAA)
------------------------------------------------------------------------
OFSAA is a suite of applications (previously named OFSA) for the Financial Services industry. Nothing to do with OBIA Financial Analytics. OFSAA = Oracle Financial Services Analytical Appliations. This suite has the following modules: Funds Trandfer Pricing, Profitability Management, Assets and Liability Management and Balance Sheet Plannig. There are two additional products built over OBA for reporting/analysis of the OFSAA results: ALM Analytics and Profitability Analytics.

For more details , please visit our site here.
Entire OFSAA documentation can be found downloaded from here.
PDF documentation.


Oracle Financial Analytics:
---------------------------
Oracle Financial Analytics provides organizations with better visibility into the factors that drive revenues, costs, and shareholder value. With dashboards that track key performance indicators (KPIs), managers can see how staffing costs and supplier performance correlate with increased revenue and customer satisfaction. Oracle Financial Analytics also offers insight into the general ledger, product or customer profitability, actual performance versus budget, and payables and receivables. As a result, managers are empowered to make the best decisions, close the books faster, and comply with all regulatory laws.
Dashboards and alerts allow financial and business managers to monitor financial performance in real-time. Detailed financial reports generated at a greater frequency and delivered to a broader range of users allow managers to understand how their business is performing while there is still time to make adjustments. Oracle Financial Analytics enables companies to more effectively manage their financial performance and improve business by
•
Analyzing detailed, transaction-level data to understand the factors driving revenue, cost, and profitability across business units, geographic locations, sales territories, customers, products, and distribution channels in time to take action
•
Optimizing cash flow through detailed accounts receivable, accounts payable, and inventory analysis
•
Enhancing regulatory reporting to reduce the time it takes to generate periodic financial statements or reports for regulatory compliance to laws such as the Sarbanes-Oxley Act
•
Ensuring budget compliance with effective expense controls that deliver expense line details to departmental managers in time to take corrective action
•
Improving cash collections and reducing days sales outstanding (DSO) by identifying slow-paying customers or those with billing issues

More details can be found here.

When should we use OBIA Financial analytics and when should we use a OFSAA solution?
if you planning to use this for Financial Services organizations.like banks ?
Or are you using this for eBS financials?

For example, if you are using eBS financials then then horizontal OBIA apps will be good
If you are in Financial Services then you might benefit from the vertical OFSAA.
Based on the source application you can choose which one to select.





Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Public API’s for FA Transactions

Public API’s for FA Transactions So far Oracle FA is have all the good things except the lack on reporting.Oracle FA is now offer lot of public API's that can be used to interfacing with third party or Oracle application other modules. Here are some of transaction's API's:   Additions API if you have requirement to add assets directly via PL/SQL then use  FA_ADDITION_PUB.DO_ADDITION. If you have selected the Allow CIP Assets check box on the Book Controls window of a tax book when adding CIP assets using the Additions API, the this API automatically adds those CIP assets to that tax book at the same time that they are added to the corporate book. Adjustments API you can make cost adjustments to your assetsdirectly via PL/SQL using  FA_ADJUSTMENT_PUB.DO_ADJUSTMENT  for any  process adjustment. Detail can be found in appendix H) You can use this API if you have a custom interface that makes it difficult to use with the existing Oracle Assets interfaces for adjusti...
Post a Comment
Read more

Unbilled Receivables and Unearned Revenue Accounting in Oracle Projects

Unbilled Receivables and Unearned Revenue Accounting in Oracle Projects Introduction When it comes to contractual billing, invoice and revenue generation are two separate processes, which during the lifespan of a project may or may not always coincide with each other and so do the balances in revenue and receivables accounts.  This interim difference between revenue and invoice account balances is bridged using Unbilled Receivables (UBR) and Unearned Revenue (UER) Accounts. Unearned Revenue (UER) Unearned Revenue (also termed as deferred revenue or UER) signifies money received for the goods or services, which are yet to be delivered.  As per the principles of Revenue Recognition, UER is recorded as on the balance sheet unless it is converted to Revenue upon delivery of goods or services For Example XYZ Consulting Ltd. receives an annual maintenance contract of $ 12,000 on Dec 31, 2014 for the period of Jan 01, 2015 to Dec 31, 2015. At the start of the contract as of Dec 31, 2...
2 comments
Read more

Create Accounting for a Payment generates errors 95333 and 95359

Create Accounting for a Payment generates errors 95333 and 95359 Error: 95333: A conversion rate does not exist to convert USD to AUD for the conversion type Corporate and conversion date 20-MAR-09 for line -25. Please use the Daily Rates form in General Ledger to enter a conversion rate for these currencies, conversion date and conversion type. 95359: There is no accounted amount for the subledger journal entry line. Please inform your system administrator or support representative that: The source assigned to the accounting attribute Accounted Amount has no value for extract line number 88547. Please make sure the source assigned to the accounting attribute Accounted Amount has a valid value, or assign a different source to this accounting attribute. Solution: 1. Specify a conversion rate for the currencies and conversion date mentioned in the error message 95333 Navigation under the General Ledger responsibility: Setup > Currencies > Currency Rates Manager > Daily Rates ...
15 comments
Read more