Oracle Finance UAB: Powering Financial Solutions in Lithuania

Oracle Finance UAB, based in Vilnius, Lithuania, plays a critical role within the global Oracle corporation. While not a customer-facing entity that directly sells software or services, its primary function revolves around providing essential financial, accounting, and operational support to Oracle’s diverse range of businesses across the EMEA (Europe, Middle East, and Africa) region.

The UAB (Uždaroji Akcinė Bendrovė – Lithuanian for Private Limited Company) operates as a shared service center, concentrating expertise and resources to deliver efficiency and cost-effectiveness. Think of it as the financial engine room for a substantial portion of Oracle’s international operations. Its services encompass a broad spectrum, including:

• General Accounting: Managing general ledger entries, reconciliations, and ensuring compliance with local and international accounting standards.
• Accounts Payable and Receivable: Processing invoices, managing vendor payments, and handling customer billing and collections.
• Tax Compliance: Ensuring adherence to local tax regulations, preparing and filing tax returns, and managing VAT processes.
• Reporting and Analysis: Generating financial reports, conducting variance analysis, and providing insights to support decision-making.
• Internal Controls: Implementing and maintaining internal controls to safeguard company assets and ensure the accuracy of financial information.
• Payroll Processing: Managing employee payroll, ensuring accurate and timely payments, and complying with local labor laws.

By centralizing these functions in Vilnius, Oracle achieves several key advantages. Firstly, it leverages the skilled and multilingual workforce available in Lithuania. The country boasts a well-educated population, particularly in the fields of finance and accounting, and a strong command of English and other European languages. Secondly, Lithuania’s relatively lower labor costs compared to other Western European nations contribute to significant cost savings for Oracle. Finally, the strategic location of Vilnius within Europe provides a convenient hub for supporting operations across the EMEA region.

The team at Oracle Finance UAB is comprised of finance professionals, accountants, analysts, and support staff. They work closely with various Oracle business units, providing them with the financial data and insights they need to operate effectively. The work environment is typically fast-paced and demanding, requiring a strong understanding of accounting principles, attention to detail, and the ability to work collaboratively within a team.

In conclusion, Oracle Finance UAB is a vital component of Oracle’s global financial operations. It’s a shared service center that provides critical financial support to Oracle’s businesses across EMEA, leveraging the skilled workforce and strategic location of Lithuania to enhance efficiency and reduce costs. While not directly involved in product sales or customer service, its contributions are essential to the overall success of Oracle’s operations in the region.