Oct 1, 2020

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Self-Service Financial Reporting and Analysis with Orbit GL Sense

Financial reporting is critical for any business, but traditional reporting methods often involve manual data extraction, complex ERP queries, and heavy IT dependency. As finance teams struggle with time-consuming processes, organizations increasingly turn to self-service financial reporting tools that provide real-time insights with minimal effort.

This is where Orbit GL Sense Financial Reporting Tool from Orbit Analytics comes into play. Designed to streamline reporting workflows, orbit GL Sense integrates seamlessly with Oracle Cloud ERP, enabling finance professionals to access, analyze, and automate financial reports directly within Excel-based financial reporting environments. By eliminating the need for manual data imports and IT intervention, financial reporting automation tools like orbit GL Sense empower finance teams with real-time access to critical financial data, ensuring accuracy, efficiency, and compliance.

This blog will explore how orbit GL Sense revolutionizes Oracle’s financial reporting solutions, its key features, and how businesses can leverage this tool to achieve streamlined financial analysis.

What is Self-Service Financial Reporting?

Finance teams must make quick, data-driven decisions without being held back by IT dependencies. This is where self-service financial reporting comes in a modern approach that empowers finance professionals to generate, customize, and analyze reports without needing specialized technical skills or IT support.

Unlike traditional financial reporting methods that require manual data extraction and formatting, self-service reporting solutions provide direct access to real-time financial data, enabling users to:

  • Automate financial reporting workflows, reducing manual effort.
  • Drill down into transactional details for in-depth financial analysis.
  • Customize reports based on business needs without IT intervention.
  • Integrate seamlessly with ERP systems like Oracle Cloud ERP Reporting for up-to-date insights.

By leveraging financial reporting automation tools, businesses can eliminate inefficiencies, reduce reporting errors, and enhance decision-making. With tools like orbit GL Sense Financial Reporting, finance teams gain complete control over their data, ensuring streamlined financial analysis without technical bottlenecks.

What is Orbit GL Sense?

As financial teams seek efficient and error-free reporting, they need a tool that integrates seamlessly with Excel-based financial reporting while providing real-time access to Oracle Cloud ERP data. This is exactly what Orbit GL Sense Financial Reporting Tool offers.

Orbit GL Sense is a self-service financial reporting solution designed to simplify Oracle financial reporting solutions by enabling finance professionals to:

  • Directly access real-time data from Oracle Cloud ERP and Oracle E-Business Suite without manual exports.
  • Create refreshable reports in Excel that update dynamically with the latest financial information.
  • Perform detailed drill-down analysis into General Ledger (GL) transactions within Excel.
  • Eliminate IT dependency, allowing finance teams to work independently without technical expertise.

By leveraging financial reporting automation tools like Orbit GL Sense, businesses can enhance financial transparency, improve accuracy, and accelerate decision-making—all while working in the familiar Excel environment.

Key Features of Orbit GL Sense

Orbit GL Sense Financial Reporting Tool has powerful capabilities that streamline self-service financial reporting and Excel-based financial reporting for finance teams. Below are its key features:

Real-Time Data Access

  • Connects Excel directly to Oracle Cloud ERP and Oracle E-Business Suite.
  • Eliminates the need for manual data exports or IT intervention.
  • Ensures reports always reflect the latest financial data.

Refreshable Reports

  • Users can create automated, refreshable reports that update in real-time.
  • No need to recreate reports, simply refresh Excel to pull updated data.
  • Supports financial statement generation for balance sheets, profit and loss (P&L) statements, and cash flow reports.

Drill-Down Capabilities

  • Allows finance teams to explore transactional details within Excel.
  • Users can click on GL summaries to drill down into specific journal entries.
  • Helps with financial reconciliation, audit readiness, and error detection.

Access to User-Defined Fields

  • Provides flexibility to customize reports by incorporating user-defined fields from Oracle ERP.
  • Helps finance teams tailor financial analysis based on their organization’s specific needs.

Secure Report Distribution

  • Enables finance teams to share reports securely, adhering to role-based access controls.
  • Ensures compliance with data security policies while maintaining confidentiality.

With these advanced features, orbit GL Sense transforms Oracle financial reporting solutions, making streamlined financial analysis a reality for finance professionals.

How Orbit GL Sense Compares to Traditional Reporting Tools

Traditional financial reporting methods often involve manual data extraction, static reports, and IT dependency, which can slow down decision-making and increase the risk of errors. Orbit GL Sense Financial Reporting Tool eliminates these challenges by offering a self-service financial reporting solution that integrates directly with Excel-based financial reporting and Oracle Cloud ERP reporting.

The table below highlights the key differences:

Feature Traditional Reporting Tools Orbit GL Sense Financial Reporting Tool
Data Access Requires manual data exports from ERP Real-time connection to Oracle Cloud ERP
Report Refreshing Static reports that require frequent updates Refreshable reports that update dynamically
IT Dependency Heavy reliance on IT for report generation Self-service financial reporting for users
Customization Limited flexibility in report structuring Customizable templates & user-defined fields
Drill-Down Capabilities Minimal or requires IT assistance One-click drill-down into GL transactions
Security & Compliance Prone to manual errors & compliance risks Secure report distribution with access control
Decision-Making Speed Slower due to manual workflows Automated financial reporting for faster insights

Step-by-Step Guide: How to Use Orbit GL Sense for Financial Reporting

Orbit GL Sense Financial Reporting Tool simplifies self-service financial reporting by allowing finance teams to work directly in Excel-based financial reporting while accessing real-time data from Oracle Cloud ERP. Below is a step-by-step guide on how to use orbit GL Sense for streamlined financial analysis.

Step 1: Connect Excel to Your ERP System

  • Install the Orbit GL Sense Add-In in Microsoft Excel.
  • The pre-built connector links Orbit GL Sense with Oracle Cloud ERP or Oracle E-Business Suite.
  • Authenticate and establish a secure connection to ensure real-time data access.

Why? This setup allows financial professionals to pull live data without relying on IT teams or manual exports.

Step 2: Create Refreshable Financial Reports

  • Open Excel and launch the Orbit GL Sense add-in.
  • Select the financial data fields you need (e.g., GL balances transactional data).
  • Use pre-built templates or design your customized reports.
  • Save the report and refresh it anytime to get the latest financial data.

Why? This eliminates repetitive manual data extraction and ensures real-time reporting accuracy.

Step 3: Perform Drill-Down Analysis

  • Click on summary-level financial data (e.g., revenue, expenses, or balances).
  • Use the drill-down feature to access transactional details, journal entries, or sub-ledger information.
  • Analyze trends and anomalies without switching between ERP systems and Excel.

Why? This feature enhances transparency and improves audit readiness for financial teams.

Step 4: Access User-Defined Fields for Custom Reports

  • Select additional data fields beyond standard GL reports.
  • Create customized dashboards tailored to your business needs.
  • Configure reports for different departments, business units, or regional offices.

Why? This flexibility allows finance teams to generate highly specific reports without IT support.

Step 5: Distribute Reports Securely

  • Use Orbit GL Sense’s security settings to define access controls and permissions.
  • Generate reports in Excel, PDF, or other formats for distribution.
  • Share reports securely within finance teams or external auditors while maintaining compliance.

Why? This ensures controlled access to sensitive financial data while maintaining data integrity.

Conclusion 

Self-service financial reporting is no longer a luxury, now it has become a necessity. Traditional financial reporting methods rely heavily on manual data extraction, static reports, and IT dependency, which can slow down decision-making and increase errors.

Orbit GL Sense Financial Reporting Tool transforms this process by offering a real-time, automated, and Excel-based financial reporting solution that integrates directly with Oracle Cloud ERP reporting. With refreshable reports, drill-down capabilities, and secure data distribution. By leveraging financial reporting automation tools like Orbit GL Sense, businesses can eliminate inefficiencies, reduce reporting errors, and gain deeper financial insights, leading to better strategic decisions. Get your Orbit GL Sense demo today for enhanced financial reporting. 

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