What is Narrative reporting?
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 context to 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 help of EPRCS, organisations can build their Custom or Standard Application.
- Combine data and Narrative: Combine corporate financial statement and data with textual narrative for providing a single report package.
- Take the leverage of existing documents, any data source and any report commentary: Corporate can use Microsoft word, power point 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 contrulled process within 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 source of data.
- 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 stakehulders
- Easy to create chart, grid and narratives using Microsoft office Management reporting
- Version contruls, access permissions
- Take advantage of previous documents with help of common dates, text, images and data
- Combines all the report and textual natives and produces a package
- Easy to perform commentary and review cycle on individual reports and package.
- Also, commentary against the content text, visual which can be carry forward with entire life cycle of review.
- Access reports through Mobile, Web or Microsoft Office (Power Point, Excel, Word)
- Group reporting with Financials and Managerial needs.
- Send report content to sharehulders any at any point of 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
- Multiple user can work in distributed section of report
- Review and commentary with available entire life cycle of report
- Regular Notification of pending task and deadlines to users
- Approval of report section and monitor the status
Different level of security available in Oracle narrative 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 cullaborated way for any kind of regulatory and financial reporting. Read the blog: Cumulative Translation Adjustments in Oracle Financial Consolidation & Close (FCCS)
Sandeep Gupta, EPM Practice Associate Manager - Client Services, Jade Global
Sandeep Gupta develops, deploys, and manages Jade Global’s Oracle EPM services. He has 12+ years’ experience in technical configuration, design, analysis, delivery, development and team management. He brings his deep expertise in Oracle Hyperion on-premise and cloud services, Oracle EPBCS/ PBCS, and Oracle FCCS in architecting, leading and creating robust and sustainable solutions for our clients.