Oracle Fusion Financial Review - why 3.6 stars?

Oracle Fusion Financial Management Review
ITQlick Score: 90/100
ITQlick Rating: (3.6/5)
Pricing: 5.8/10 - average cost
Category: Accounting & Finance -> Oracle Fusion Financial
Ranking:Ranked 10 out of 419 Accounting & Finance systems
Company: Oracle Corporation
Pricing: starts at $600 per user/month
Typical customers: Small, medium and large size businesses
Platforms: Desktop, Cloud
Links: Oracle Fusion Financial pricing, Oracle Fusion Financial alternatives

Shlomi LaviShlomi Lavi / updated: Mar 22, 2022

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What is Oracle Fusion Financial?

Oracle Fusion is a cloud-based accounting & finance software designed to deliver decisive insights into a companys financial position and profitability with a comprehensive global solution. The software comes with features such as:
  • Enterprise-wide Accounting Platform: With this enterprise accounting and finance platform, end-users can lay a solid basis for financial procedures, corporate accounting, and financial reporting.
  • Real-time Close Status: Using real-time dashboards, end-users can quickly assess the status of period closing processes such as ledgers and sub-ledgers, reconciliations, journal entries, and more.
  • Automated Invoice Processing: Using optical character recognition and imaging, end-users can swiftly import and record supplier invoices. Use the invoices workbench to quickly handle issues with invoices that are not automatically recorded.
  • Determine Transactions Prices: Using the sum of performance obligation values in an accounting contract, end-users can automatically calculate the customer contract transaction price.
  • Efficient Billing: For subscription, product, and project sales, end-users can quickly generate invoices and credit memos. To address transactions in various phases of the billing process, end-users can go to the billings work area.
Oracle Fusion is an accounting & finance software that started in 1977. The company is headquartered in Austin, Texas, United States. The company has a workforce of more than 10,000 employees.

What is Oracle Fusion Financial rating?

The rating of Oracle Fusion Financial is 3.6 stars out of 5 and the total score is 90 out of 100. The ratings are based on our unbiased experts. Learn more in our rating methodology page

Who uses Oracle Fusion Financial?

Oracle Fusion Financial Management is an extensive suite of applications that can be deployed in any business regardless of size and type. The suite has been used in such industries as communication, education and research, media and entertainment, public sector, IT infrastructure, and automotive. Some major customers include Asahi Group Holdings, Ltd. and Escorts Limited etc.

Is Oracle Fusion Financial the best Accounting & Finance system?

Oracle Fusion Financial is ranked 10 out of 419 software in their category (Accounting & Finance systems).

What are their main features and functionalities?

Oracle Fusion Financial Management provides innovative solutions for information access along with real time intelligence services. Various financial accounting and reporting features make possible real time access to financial results for better decision making.

Oracle Fusion Financial Management also offers the features of accounts payable and receivable, general ledger, automated billing, credit card processing, and customizable functionality.

What are Oracle Fusion Financial's pros? (3 Pros)

  • Oracle Fusion enables users to connect all modules and create a business formulation plan
  • The software allows users to gain access anywhere anytime due to its cloud services
  • Users can easily build new forms and reports as per organizational requirements

What are Oracle Fusion Financial's cons? (2 cons)

  • Users complain that the software has a challenging implementation
  • More expensive than other accounting and financial software

Who are their main alternatives?

Oracle Fusion Financial Management competes with other accounting & finance systems like Acumatica, FinancialForce Financial Management ERP, and FreshBooks. We will compare these accounting & finance systems in some specific aspects below.
  • Functionality: Oracle Fusion Financial Management offers features like an Accounting Hub, Reporting & Analytics, Payables & Assets, Revenue Management, Receivables, Collections, Expense Management, Joint Venture Management, Adaptable Centralized Accounting, and Powerful Accounting Engine. Acumatica offers features like General Ledger, Accounts Receivable, Accounts Payable, Cash Management (available in Oracle Fusion), Currency Management, Tax Management, Deferred Revenue Accounting, Multi-Entity & Intercompany Accounting, Recurring Revenue Management (available in Oracle Fusion, Fixed Assets, Time Management, Advanced Expense Management, Bank Feeds, Project Accounting, Reporting, Dashboards, and Data Analysis Toolkit. FinancialForce Financial Management ERP offers features like Accounting (available in Oracle Fusion), Financial Reporting, General Ledger (available in Acumatica), Consolidations, Receivables & Collections, Payables & Settlement, Fixed Assets Management, Cash Management (available in Acumatica), etc. FreshBooks offers features like Invoicing, Expenses (available in Oracle Fusion), Time Tracking, Collaborate on Projects, Get Paid Faster, Reports (available in Oracle Fusion), Double-Entry Accounting, FreshBooks Mobile App, etc.
  • Customers/Industries: Oracle Fusion Financial Management targets Industries in Automotive, Communication, Construction & engineering, consumer goods, financial services, food & beverage, government and education, healthcare, high technology, hospitality, manufacturing, life science, media and entertainment, oil and gas, professional services, retail, travel and transportation, utilities, etc. Oracle Fusion has customers like David Jones, EmblemHealth, HSBC, Orange, Scottish Water, Western Digital, etc. Acumatica targets industries in Construction, Distribution, Manufacturing, retail- Commerce, Service Industries, Agriculture & Farming, Chemicals, Construction, Education, Energy & Utilities, Equipment Rental, Food & Beverage, Government Contractors, Healthcare Non-profit, Property Management, Telecommunications, etc. Acumatica has customers like Triode, FixNetix, Kelly Products, Inc., Quantum Group, Dukathole Group, Cornell Cooperative Extension, Alpha Insulation & Waterproofing Inc., Eagle Fence Distribution, etc. FinancialForce Financial Management ERP has customers like Red Hat, Splunk, Elastic, Hewlett Packard Enterprise, BeyondTrust, DocuSign, Salesforce, Avalara, Aquient, WorldLine, Willow, Five9, United services group, Kinetic Vision, CBTS, etc., FreshBooks targets Freelancers, Self-Employed Professionals, Businesses With Contractors, and Businesses With Employees. FreshBooks has customers like McCormick Tax Group, LLC, ACE CONNECTIONS, Beyond Creative, Pink Shark Marketing, etc.
  • Cost: Oracle Fusion has a cost rating of 2.9/5, according to ITQlick expert cost analysis. This means it is low-cost accounting & finance software. The rating system considers this software rated 1-2 as low-cost and 4-5 as high cost. Oracle Fusion Financial Management starts at $600.00 per user per month and offers a free trial. The license cost information for Acumatica and FinancialForce Financial Management ERP is unavailable. FreshBooks starts at $6.00 per month and $108.00 per year. FreshBooks offers a free trial
  • Cloud-based/On-premise: Oracle Fusion Financial Management and all its alternatives are cloud-based. Acumatica offers On-Premise for Windows and Linux.
  • Scalability: Oracle Fusion Financial Management and FinancialForce Financial Management ERP can accommodate businesses of all sizes. Acumatica can accommodate small and mid-sized businesses.
  • Support: Oracle Fusion Financial Management and FreshBooks offers support channels like Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, and Chat. Acumatica and FinancialForce Financial Management ERP offer all support channels of Oracle Fusion plus a 24/7 (Live Rep).

What is the cost of Oracle Fusion Financial?

Oracle Fusion Financial Management license pricing starts at $600.00 per user per month and offers a free trial.

What is the REAL total cost of implementation? on top of the total cost of licenses which is easy to calculate you need to add the cost of training, customization, data migration, and other "hidden cost". ITQlick pricing score is 5.8 out of 10 (10 is most expensive). You can fine here the REAL total cost breakdown for Oracle Fusion Financial. You can also find here pricing information from Oracle Fusion Financial's website.

What should you ask Oracle Corporation during a demo session? (65 questions)

Schedule a demo with Oracle Fusion Financial and access 65 must ask questions for the vendor while watching Oracle Fusion Financial in action.

Where Oracle Fusion Financial is used?

With a complete worldwide solution intended for companies of all sizes and industries, end-users can gain definitive insights into their company financial status and profitability with Oracle Fusion. Users in industries like Engineering, consumer goods, financial services, food & beverage, government and education, healthcare, high technology can use Oracle Fusion Cloud Financials to help fulfill their finance team and company goals. David Jones, EmblemHealth, HSBC, Orange, Scottish Water, Western Digital are examples of customers using Oracle Fusion.

List of categories

Core Accounting
Budgeting & CPM
Financial reporting

List of features

Data Import/Export
Basic Reports
Online Customer Support

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Author

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.