Oracle plans upgrade of treasury software

Oracle Corp. this week plans to announce enhancements to its treasury management applications that are designed to give end users faster access to financial data plus beefed-up regulatory compliance tools.

Sally Screven, senior director of financial applications at Oracle, said the new release will also add support for new accounting standards as well as expanded automation and reporting capabilities for general ledger procedures and other finance tasks. The upgraded Oracle Treasury 11i software is due early next year.

From a regulatory standpoint, the planned additions include validation tools for use in processing payments and preconfigured role-based screens that are designed to help maintain a separation of duties to fulfill the fraud-prevention and risk-control mandates of the Sarbanes-Oxley Act, according to Screven.

She said the upgrade will give end users real-time access to data about cash holdings instead of requiring them to wait for batch processing runs to be completed. In addition, Oracle is developing forecasting capabilities that will let users do multidimensional analysis of corporate cash flows.

Jane Moss, treasurer at Viking Range Corp. in Greenwood, Miss., said users in the kitchen appliance maker's finance department already are looking forward to exploiting the general ledger automation features that will be part of the upgrade. Viking Range hopes to cut two to three hours out of the three-day period that's currently needed to complete its monthly financial reporting cycle, Moss said.

She added that the improved cash-flow forecasting feature should support greater integration of companywide information and help boost the accuracy of the predictions made by her staff. Viking Range, which runs Oracle's current treasury release, hopes to roll out the upgrade during the first half of 2004, Moss said.

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