Oracle debuts financial analytics package

Oracle has released a new set of financial analytics tools aimed at helping businesses sort data from multiple applications. Dubbed Oracle Financial Consolidation Hub, the tool, released Wednesday, is being introduced as part of the database giant's Performance Management product line, which is aimed at allowing customers to better utilize information that's spread across different systems.

The company said the software was also designed with the goal of helping companies comply with regulations such as the United States' Sarbanes-Oxley Act and the United Kingdom's Combined Code. Among features offered in the software are tools for automating the process of submitting financial data and for helping multinational companies meet the varying mandates of different nations. At the heart of the package is Oracle's so-called unified enterprise data model, which is meant to allow customers to process many forms of data in a single application.