What is Oracle Narrative reporting?
Oracle Narrative reporting refers to nonfinancial information that is a part of annual reports so that users can provide an expressive and comprehensive view of an organization’s business. Especially in the context of strategy, market position, and upcoming prospects. The main components are Director’s reports, Strategic reports, Chairman Statements, and corporate governance disclosures.
We can receive narrative and regulatory reporting for internal and external reporting with the help of interactive dashboards. This can be done by authoring, reviewing, defining, and publishing management, financial, and regulatory report packages.
Oracle narrative reporting is known in the cloud as Oracle Enterprise Performance Reporting Cloud Service (EPRCS). With the help of EPRCS, organizations can build their Custom or Standard Applications.
What does EPRCS provide to corporates?
- Combine data and Narrative: Combine corporate financial statements and data with textual Narrative to provide a single report package.
- Take the leverage of existing documents, any data source, and any report commentary: Corporate can use Microsoft word, PowerPoint, or pdf-based details report with excel based reporting. It helps to integrate any source of data or any content reporting from any source of data. All these will be available as reliable and controlled processes within a cloud-based environment.
- Simple Integration with Oracle and Other data sources: Corporate can easily take leverage of existing IT investments to rapidly integrate data from multiple on-premises and cloud sources, including spreadsheets, EPM applications (Planning and Budgeting, FCCS, and others), Oracle Financials Cloud, EBS, PeopleSoft, Oracle Business Intelligence Enterprise Edition (OBIEE) content, and native databases.
- Web-based report writer: Ease of developing and maintaining reports with any data source.
- The truth of Data throughout the reports: Provide security at every level to handle sensitive content. Use one version of the truth for data, charts, and text, enforcing consistency and truthiness throughout the report, even if authored by different stakeholders
Writing and Maintaining Reports
- Easy to create charts, grids, and narratives using Microsoft office Management reporting
- Version controls, access permissions
- Take advantage of previous documents with the help of expected dates, text, images, and data
- Combines all the report and textual natives and produces a package
Review and commentary
- Easy to perform commentary and review cycles on individual reports and packages.
- Also, commentary against the content, text, and visuals can be carried forward with the entire life cycle of the review.
Publishing and Delivery
- Access reports through Mobile, Web, or Microsoft Office (PowerPoint, Excel, Word)
- Group reporting with Financials and Managerial needs.
- Send report content to shareholders at any point in time.
- Report design based on XBRL taxonomies
- Easily perform XBRL tagging in Microsoft Word and Excel and produce detailed XBRL audit reports
- Validate XBRL tagging with taxonomy schema rules and calculations to check data accuracy and compliance and utilize regulatory-specific validation for SEC EDGAR Filer Manual rules and IFRS Global Filing Manual
- Publish in XBRL, iXBRL, SEC EDGAR HTML, and PDF formats
Collaboration and Workflow
- Multiple users can work in a distributed section of the report
- Review and commentary with the available entire life cycle of the report
- Regular Notification of pending tasks and deadlines to users
- Approval of the report section and monitor the status
Different levels of security available in the Oracle Narrative Reporting system:
- Application level security
- User level Security
- Dimension level security
- Data level security
Oracle Enterprise Performance Reporting Cloud Service (EPRCS) can help to improve organization from manual narrative reporting to automated, secure, and collaborated way for any regulatory and financial reporting. w Read the blog: Cumulative Translation Adjustments in Oracle Financial Consolidation & Close (FCCS)