Account Reconciliation Cloud Service (ARCS)
Published: September 30, 2020
Oracle’s Account Reconciliation Cloud Service (ARCS) is an application that fully encompasses a company’s reconciliation process. ARCS incorporates a two-pronged approach of Transaction Matching and Balance Reconciliation so your finances can be handled accurately and swiftly. With a system that overlays several reconciliation formats with varying levels of profiles for reconciliation, the level of detail you can achieve for an account is astounding. Likewise, the capability of configurable match types allows for transaction level consolidations that are customizable and accurate.
With the use of business rules, reconciliations can be automated. If account balances or transactions meet a specified threshold or satisfy set conditions, the reconciliation will approve and close itself without needing input from users. The administration process for the application can be automated as well. By making use of scripting and Oracle’s EPM Automate, the entire process can be simplified to a single click. Automatically import, validate, and reconcile your financial data with the option of receiving notifications throughout the process.
ARCS is incredibly versatile- data can be imported in various ways ranging from a simple .csv file to an integrated connection to an existing ERP instance or on-premises database using FDMEE. At the core of the application, profiles and settings are setup entirely at the discretion of the user.
At CloudADDIE, we implement ARCS as an accounting solution and act as an architect enabling a future where your finances are reconciled swiftly and easily. If you would like more information about ARCS or our other services, contact us for a free consultation.
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We offer Autonomous Systems for EPM Cloud Applications such as Oracle Planning & Budgeting Cloud Service (PBCS/EPBCS), Financial Close & Consolidations Cloud Service (FCCS), Enterprise Data Management Cloud Services (EDMCS), Account Reconciliation Cloud Service (ARCS), Profitability & Cost Management (PCM) and more.