So just what are the benefits of upgrading to the latest release of Oracle's E-Business Suite, R12? The benefits go far deeper than simply maintaining support levels - the product now includes a rules layer which substantially reduces the complexity associated with applications development or modification, which reduces costs.

What else is exciting users about the latest release?

Financial Accounting Hub - Oracle Financials Accounting Hub (FAH) efficiently creates detailed, auditable, and reconcilable accounting entries in a very controlled and consistent fashion. FAH includes an accounting transformation engine that consistently enforces accounting policies. It also includes an accounting and rules repository that provides centralized control and detailed audit trails, while simultaneously meeting multiple reporting requirements, such as corporate, management and legal requirements.

iExpenses - Dramatic ROI Dramatically reduce the amount of time and effort required to submit, approve, process and pay expense reports. Approvals are automated and policies enforced using comprehensive setup and administration utilities. Supporting multiple expense and reimbursement currencies, languages and character sets, iExpenses can also comply with diverse statutory requirements such as Goods and Services Taxes (GST), per diem and mileage rate calculations. iExpenses allows you to eliminate your cumbersome, spreadsheet-based expense reporting system.

Sub Ledger Accounting (SLA) - Reduce Time To Close. A single source of the truth for your General Ledger (GL). When combined with Oracle Financial Services Accounting Hub, SLA enables you to centralise accounting data from any third party transactional system. SLA behaves like a detailed version of your GL providing a rich store of information for reporting and analysis. Flexible user configurable accounting rules and descriptions to meet virtually any requirements, and multiple features to minimise reconciliation issues, SLA promises significant reductions in the time it takes to close your books at month end.

 Oracle R12 Sub-Ledger Accounting Business Benefits

One of the new features included in the latest release of E-Business Suite that is the major cause of excitement and cost reduction is the Oracle Site Hub - a location mastering solution that enables organizations to centralize site and location specific information from heterogeneous systems, creating a single view of site information that can be leveraged across all functional departments and analytical systems. Oracle Site Hub helps organizations eliminate the problem of distributed, fragmented, incomplete and inconsistent site data resulting from isolated silos of data, lack of centralized data repository, rapid business expansion or mergers and acquisitions. Oracle Site Hub