Final answer:
Embedding the Essbase cube in General Ledger Cloud provides enhanced reporting capabilities and faster financial analysis, including direct database integration and multidimensional analysis, thus benefiting financial management and strategic planning.
Step-by-step explanation:
The two major benefits of having the Essbase cube embedded in General Ledger Cloud are enhanced reporting capabilities and speedier financial analysis. With Essbase integrated directly into the General Ledger, users can take advantage of multidimensional analysis without the need for separate reporting tools or systems. This allows for real-time access to financial data, enabling more dynamic and immediate decision-making.
Furthermore, this integration streamoveslliness processes by reducing the data redundancy and ensuring data consistency throughout the reporting and analysis stages. It also provides users with the ability to quickly and easily create ad hoc reports, drill down into data, and perform what-if analysis. This not only increases the efficiency of the finance team but also elevates the overall financial planning and analysis functions within the organization.
In summary, embedding Essbase cube within the General Ledger Cloud empowers organizations with direct database integration, multidimensional analysis, and a robust platform for financial management and strategic planning.