Oracle has announced it is improving its worldwide-recognized Cloud ERP and Fusion Cloud ERP software. These most recent updates are intended to be accessible to all clientele, regardless of organization size. These benefits include real-time insights, simplified business processes, and efficiency boosts. Now, organizations of all sizes will have access to Oracle Cloud and Fusion Cloud ERP’s newest features, such as artificial intelligence, digital assistants, and natural language processing.
Oracle has labeled several new features within this update as “Touchless Operations”, which allow organizations to rely on automatic processes and artificial intelligence to resolve certain tasks while allowing the team to prioritize scenarios that require complex human judgment. Some of the focuses of these touchless operations include improving financial close and account reconciliation, automation of routine data entry, and tagging regulatory reports.
Oracle’s updates also prioritize benefit decision making with the power of predictive planning. Taking steps such as combining planning and budgeting means that ad-hoc scenario planning to plan project costs and increasing cost visibility, approval rates, and execution are now capable more than ever. Financial teams can assess risks, document recovery plans, and keep executives informed to minimize any impact on reputation, finance, and execution.
Other features will be available to benefit Oracle Cloud ERP users soon. Expansions to collaborate platforms and project time entry will help all-digital teams maintain consistency and organization. More specific updates are aimed to focus specifically on industries such as utilities, gas and oil, asset-intensive industries, and professional services. Complex procurement capabilities and joint venture management capabilities intend to specifically target and improve these industries’ ERP capabilities.
“2020 has been one of the most challenging years to run a business, putting added pressure on finance teams to balance short-term challenges with longer-term strategic initiatives,” says Rondy Ng, Senior Vice President of Applications Development at Oracle, “Our newest innovations help finance teams rapidly adapt to the current economic climate, drive new business models, and improve strategic decision making; all designed to help our customers define their future.”
Learn more about Oracle’s ERP systems and infrastructure..
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