Oracle ERP Cloud

Oracle Enterprise Resource Planning Cloud is a cloud solution for the help to the companies in business process optimization of management of finance, purchases and a project portfolio.

The solution represents the integrated complex as a part of which Oracle Financials Cloud (management of finance), Oracle Procurement Cloud (purchase management) and Oracle Project Portfolio Management Cloud (Oracle PPM Cloud is project portfolio management).

History

2020: SAP: we have twice more implementations of cloud ERP systems, than at Oracle

In April, 2020 the soispolnitelny director of SAP Christian Klein said in an interview to the blog Cloud Wars that his company has twice more implementations of cloud ERP systems, than at the main competitor — the American Oracle corporation. Read more here.

2019: Digital assistants on report generation. Intellectual functions of financial control

On March 26, 2019 the company Oracle reported that it expanded opportunities artificial intelligence (AI) in solutions for enterprise management of Oracle Enterprise Resource Planning (ERP) to Cloud and Oracle Enterprise Performance Management (EPM) Cloud. The advanced innovations on the basis of technologies machine learning include digital assistants on report generation about expenses and on project management, intellectual functions financial of control and supply chain management within projects.

Our strategy of broad use of artificial intelligence by permanent updating of products guarantees rapid implementation and notable business results. It allows financial and operations departments to remain at peak of technology development and to save competitive advantage. Rondi Ng, senior vice president of Oracle for development of business applications

According to the company, innovations on the basis of machine learning technologies give the chance to finance and operations departments to find more time for implementation of strategic initiatives and to develop business due to increase in efficiency, accuracy and compliance to regulatory requirements. Treat these innovations:

• the digital assistant according to the advance reporting. Automatically creates, classifies and compares cost items that simplifies processing of reports on expenses. Users can interact with the assistant or by means of the effective voice interface, or just sending photos of checks on to e-mail SMS, through corporate messengers Slack or Microsoft Teams. The digital assistant uses machine learning technology for improvement of automatic classification of cost items, tracking violation the politician and reductions of risks of audit;
• the digital assistant on project management. Provides instant updating of the project status and allows users to update time and the course of accomplishment of tasks using the clever assistant. The digital assistant studies on the last records given project planning and the general context to adapt interaction with users and to competently draw important project information;
• expanded financial control. Provides the continuous analysis of transactions, settings and a configuration for the purpose of automation of audit and prevention of financial violations. In the solution self-training algorithms are applied to identification of critical configuration changes and suspicious transactions on the basis of library of the checked rules using the built-in algorithms of fuzzy retrieval, detection of anomalies, the analysis of Benford, a clustering, etc. Such approach uses data analysis methods for involvement of analysts to tracking, investigation and permission of incidents;
• expanded access control. Automates the analysis of safety of users using methods of artificial intelligence to help to protect business data from insider threats and fraud. The solution is used by the analysis on the basis of graphs for exact and reliable assessment of the violations hidden in difficult, recursive and dynamic configurations of security. This method includes reliable library of the configured rules of confidentiality of data and the rules SOD based on the practician which allow to trace continuously users, roles, privileges, settings and transactions;
• intellectual vendor management. Integration of Oracle with DataFox enriches profiles of suppliers with the data on the company got and checked using AI that allows to range them and to classify. Methods of artificial intelligence are used for extraction of dynamic markers about risks, related to suppliers, from news articles and press releases which then integrate with DataFox sources of data on the companies. It allows to automatically determine suppliers with the high level of risk and to provide recommendations about the choice of alternative suppliers.

In addition to listed, in the solutions Oracle ERP Cloud also other innovations on the basis of machine learning technologies which it was announced earlier are used. Intellectual payments allow the organizations to cut down expenses and to strengthen the relations with the leading suppliers by formation of individual offers in exchange for early payment of outstanding accounts payable for what data on risks and profiles of suppliers are used at the moment.

Intellectual performance management reveals patterns, difficult for recognition, in data and allows to obtain efficient and contextual information, when necessary, that helps to increase quality of finance and operational solutions and to improve results of business.

Intellectual process automation allows to automate labor-consuming tasks and to transfer the staff of the organization to more significant and interesting work.^[1]

2018: "Smart" process automation in Oracle ERP Cloud and EPM Cloud

On November 7, 2018 the company Oracle announced updates using artificial intelligence for Oracle Enterprise Resource Planning (ERP) Cloud and Enterprise Performance Management (EPM) Cloud. As noted in Oracle, innovations based on machine learning provide financial the director and the staff of his department operational analytics thanks to which they will be able to implement new business models, to use market opportunities and to increase profitability of the organization.

According to the statement of the developer, Oracle ERP Cloud helps the organizations of any size quickly and to easily take advantage of the innovative developments in the area artificial intelligence (AI), digital assistants, natural languag processing, blockchain and Internet of Things for performance improvement, cost reduction and improvement of control. Among announced by an innovation in Oracle ERP Cloud:

• "Smart" process automation: seamless integration the "smart" processing based on rules within cloud applications Oracle Cloud Applications allows to automate accomplishment of labor-intensive tasks and to redirect employees for more strategic and useful work.
• The assistant on drawing up expense reports: the chat-bot the politician due to increase in accuracy and speed of drawing up reports and also simplification of work of end users helps to improve control and check of observance.
• "Smart" payments: possibilities of AI allow the organizations to reduce costs and to strengthen the relations with key contractors thanks to the instant analysis of their profile and risks. In exchange for early payment of outstanding accounts payable contractors can receive the personalized offers.
• Recommendations about contractors: the thought-over multiple-factor categorization and ranging of contractors allows to optimize all process from purchase before payment. Combining such data from ERP systems as profiles of suppliers, orders for acquisition, invoices, debts on payment and other parts, with information from external sources, the company receives complete transparency of an ecosystem of the suppliers.
• "Smart" performance management: the possibilities of AI which are built in Oracle Enterprise Performance Management Cloud can reveal the hidden patterns in data timely to provide the analytics relevant for the carried-out task and a situation that will help to increase quality of finance and operational solutions and their influence on business results.
• Enhanced capabilities of access control: the Advanced Access Controls function uses AI for continuous check of all users, roles and privileges regarding compliance to library of the existing safety rules. As the developer reported, she turns on more 100th practician (the configured rules) concerning a grossbukh, creditor and receivables and fixed assets which are intended for protection of corporate information against internal threats, fraud, inadequate use and human errors.

Oracle ERP Cloud helps the organizations to automate the main business processes, to integrate the separate systems and to approve financial business processes with production requirements. It, according to the developer, allows clients to adapt quickly to the changing requirements of business and to achieve competitive advantages due to performance improvement, cost reduction, creation of a uniform source of reliable data and end-to-end implementation of business innovations.

2016: Why in Russia and the CIS it is worth looking at ERP Cloud in a new way

What would not be a current economic environment in our region, external factors and business effect which is shown by leaders in the different industries and the countries, do not leave other exit as soon as to change and use the best practices. Namely – to pass to revaluation of the business and to begin processes of changes.

All this occurs in the conditions of digital transformation of global economy: industrial revolution 4.0 and robotization, Internet of Things and integration of "the cyberphysical systems", social networks, mobility, analytics of Big Data, cloud computing - lead to decisive changes in the principles of business. And the speed of such changes increases, and it is one of serious problems for all types of the companies. Competition conditions change, channels of interaction with consumers of whom earlier did not even think develop.

All this forces to look in a new way at processes on management of finance, purchases and a project portfolio. Today already insufficiently extremely accurate accounting of all transactions, convenient and their fast registration, and that is even more important – an opportunity without delay to obtain significant information on the basis of the entered data is necessary. For business flexibility support many companies stop the choice on use of these opportunities in a cloud today.

We selected 5 reasons why today it is worth looking narrowly at cloud ERP solutions:

Reason 1: Change approach to business understanding

ERP Cloud allows to use the unique platform of the reporting, flexibly built in and integrated with multidimensional model of management information and performance indicators which takes and consolidates data directly from the general ledger and all operational show-windows, provides mobile access from any point where there would be no employee.

Thus, there is always an opportunity to receive in real time up-to-date management and financial information from one source, to trace key indicators of profitability, generation rate of income, performance, capital utilization, OPEX & CAPEX, etc., without expecting end of month.

Reason 2: Optimize expenses on IT

Many think of ERP solutions of large vendors - "a big system". However the cloud model opens doors for all types of the companies and even those which would never consider similar solutions earlier. Many companies using today ERP in a cloud are the small and quickly growing businesses. They understand that they should not worry about how ERP in a cloud will technology and functionally provide support of their growth as transactionally (only Oracle ERP Cloud, for example, it is capable to process more than 230 million transactions per hour), and geographically, taking into account specifics and legal requirements in the specific countries.

Reason 3: Simplify work with a system

Developers of traditional ERP systems did a great job for support of process performance of the company, but time to make the same for the personnel working with a system came now. ERP in a cloud is intended, first of all, for employees as provides them ultramodern and effective management tools information and data, a broad spectrum of models of self-service.

Specialists in real time see who and that needs their immediate attention. And with it they are helped by specially created panels of graphic indicators and the personalized work areas. Unique pages (infoleta) allow to see the status of key performance indicators and to perform end-to-end detailing for deeper studying of a question.

Reason 4: It is easy to apply new technologies and the best practices

ERP in a cloud is a digital workplace thanks to which employees have an opportunity to work jointly, to quickly communicate and find support in solving of tasks. Possibilities of social network are built in directly business processes so team members can always be in touch, being instantly connected to a virtual conversation.

Other new products include, for example, integration between purchases and project management: buyers can manage suppliers, conduct negotiations and requests - on - offers as projects. They can manage documents using the standard, in advance approved templates of contracts, to use the social network which is built in workflows for joint work and consideration of documents, to collect answers of suppliers in a system, to compare offers using negotiations, based on deep analytics.

Reason 5: Strengthen and to correctly build internal control

Cloud ERP meet the highest safety requirements and standardization of data, rules and processes in enterprise scales, including managerial, accounting, taxes and payments. In many solutions, in particular Oracle ERP Cloud, implements a broad spectrum kontroly and the politician of compliance which are built in directly business processes. The special analytics will allow in a real mode of time to identify discrepancies and to correct them.

2015: Development of Oracle ERP Cloud

On November 3, 2015 the Oracle corporation announced development of Oracle Enterprise Resource Planning (ERP) Cloud - a cloud solution for heads of divisions on management of finance, purchases and projects. More than 190 functions are added to its structure, industry opportunities and the functionality demanded by the world-class companies are expanded.

Submission of Oracle Enterprise Resource Planning (2015)

Oracle Financials Cloud (Management of finance)

The cloud solution of Oracle Financials Cloud is developed for ensuring control over transactions and online access to information and includes the built-in analytical opportunities.

The full support of processes of placement and forecasting of money and forecasting provides control of short-term liquidity thanks to the improved planning and balance of cash flows.

The expanded module Expanded Financial Reporting Center offers model of the protected, collective mailing of reports to both financial services, and business divisions, providing uniform access point to standard and special reports.

Oracle Procurement Cloud (Purchase management)

The cloud solution of Oracle Procurement Cloud includes support of purchases of the main materials for production and additional opportunities of approval of processes in supply chains now, promoting mastering of cloud computing by clients from manufacturing industries.

The module Direct Materials Support in addition to auxiliary materials and services supports procurement processes of the main materials for implementation of productive activity, including such functionality as management of the configured positions, direct deliveries and "Back-to-back" orders now.

Integration of Oracle Sourcing into Oracle PPM Cloud simplifies management and tracking of difficult negotiation processes.

Oracle Project Portfolio Management (PPM) Cloud (Project portfolio management)

The Oracle PPM Cloud technology is developed for modern project management specialists and offers the built-in analytics with interactive reports and dashboards. In Oracle PPM Cloud abilities to integrate, both with cloud services, and with the traditional solutions deployed directly at the enterprise are even more expanded.

The unified panels with information updated in real time for financial management by projects and works monitoring on projects provide deeper understanding of a situation thanks to the improved efficiency analysis of projects with the automated monitoring.

By Oracle PPM Cloud it is integrated with Oracle Sourcing Cloud for management of negotiations, provides an expanded scope of product development processes by means of integration with Innovation Management Cloud.

Oracle Supply Chain Management (SCM) Cloud (Supply chain management)

Oracle SCM Cloud allows the companies to implement quickly innovations, to quickly perform and develop supply chains. Users can accelerate implementation of control functions by supply chains at minimum risks, low costs and the maximum flexibility — as within ERP transformation with complete transition to a cloud, and using separate cloud services for specific functions. In addition to the existing cloud services for inventory management (Inventory Management), the cost accounting (Costing), management of basic data on products (Product Master Data Management), product lifecycle management (Product Lifecycle Management), management of transportation and global trade operations (Transportation and Global Trade Management), the cloud solution of Oracle Supply Chain Management Cloud includes now:

• Oracle Order Management is multichannel management of accomplishment of orders and also the integrated means of registration, pricing and configuring of orders.

• Oracle Planning Central — the integrated means of demand planning and the offer designed to simplify planning process from the analysis and optimization before execution.

• Production - completely integrated support of different production methods (make-to-stock production, custom production, a configuration to order, outsourcing) from development of the innovation products to a production process and the cost accounting.

The solution Oracle ERP Cloud is developed on the basis of the protected, scalable architecture and offers customers flexible options of complete or modular preparation for start in operation, seamless integration of cloud and local applicaions, solutions of other suppliers, and, besides, the standardized best practices and templates of the accelerated deployment.

2014: Oracle ERP Cloud Release 9

On October 23, 2014 the Oracle corporation announced readiness of the updated cloud solution of Oracle Enterprise Resource Planning Cloud (Oracle ERP Cloud). Oracle ERP Cloud Release 9 offers a wide choice of the business applications on these functional areas developed for satisfaction of the customers needs aiming to strengthen and strengthen the business.

The Oracle ERP Cloud service is available in 23 national languages, is intended for gradual implementation and mastering of cloud computing. It allows customers to migrate in a cloud at the speed, necessary for them, in acceptable time limits and step by step - in compliance with their business model and operational requirements.

Oracle ERP Cloud Release 9 offers a wide choice of business applications on the functional areas developed for satisfaction of the customers needs aiming to strengthen and strengthen the business.

Innovations in Oracle Financials Cloud

• Mobile opportunities for increase in efficiency:

• • the Simplified mobile interface provides operational financial information at any time and in any place on the screen of the tablet or the desktop computer.
  • the Mobile center of the financial statements Mobile Financial Reporting Center is integrated with the solution for the organization of internal social network Oracle Social Network for the purpose of improvement of interaction between members of the working groups.
  • the New type of providing information in "sunburst" charts allows to implement interactive understanding of key data.

• Expansion of support of global transactions:

• • Support of multiple currency payments allows to pay bills in different currencies irrespective of location.
  • Setup of numbering at the level of the legal entity and a possibility of rapid implementation of the specific requirements imposed to numbering of documents in the different countries simplifies observance of requirements of the legislation.
  • Centralized operation by payments and receipts allows to pay bills of all business divisions from the uniform center that promotes reduction of transaction and administrative costs.
  • the Tax Box Allocations Function helps to prepare data for the declaration on the VAT (value added tax).

• Optimization of integration, setup and processing of transactions:

• • Oracle Financial Accounting Hub Report Cloud gives mobile opportunities for preparation of authentic reports of professional quality on the basis of the booking data Oracle E-Business Suite without any additional settings.
  • Seamless integration between Oracle Financials Cloud and Oracle Configure, Price, and Quote Cloud (Oracle CPQ Cloud) allows to optimize end-to-end process "from price quotation before payment" (quote-to-cash).
  • Integration with GetThere, the partner in business trips, helps to improve possibilities of armoring, to increase transparency of traveling expenses and to reduce the risks connected with armoring of trips and tours.

Improvements in Oracle Procurement Cloud

• Oracle Supplier Qualification Management Cloud (Management of qualification of suppliers) helps to find, select and estimate suppliers on the basis of reliable information and allows:

• • to Classify and estimate suppliers for support of affiliate programs, ensuring compliance to corporate and statutory requirements and decision making about the choice of the specific supplier.
  • to Collect information on suppliers using internal and external qualification questionnaires.
  • Quickly to warn users, about situations when new information can affect assessment of qualification of the supplier, his opportunities and risks.
  • to Provide information on qualification of the supplier and observance of the set requirements by it.

• Oracle Procurement Cloud Release 9 functions

• • Local Punchout Item Search — unifies a search capability and viewing contents of external directories of suppliers in convenient local search and is urged to help users to find quickly the necessary information, minimizing inconveniences of search on the numerous websites of suppliers diverse in design and opportunities of navigation.
  • the Request for registration of the new supplier in the module "self-service procurement" (the system of independent creation of purchasing requests of goods and services for internal needs) — allows employees to create quickly a request for registration of the supplier whose profile is not created in a system yet.
  • Function of budget control — helps to plan and make better budgets, to control funds and to analyze data on the actual and planned costs.
  • Noticeable improvements of processes of import and updating of information on the supplier.

New in Oracle PPM Cloud

• New features in Oracle Project Financial Management Cloud (Financial management by the project) are developed for increase in profitability of project activity:

• • Oracle Grants Management Cloud is the new product helping to manage effectively the grants and contracts received from the organizations of any type. Allows the organizations to trace, control and make budget reports of grants, to obligations and expenses. Supports complete lifecycle of a grant after its receiving - from receipt of the allocated money and their distribution by projects before drawing of accounts on actually incurred expenses and preparation of the final reporting under a grant.
  • the New feature of budget control — allows the organizations to keep the expense accounting and to warn, or to reveal an overexpenditure of means.

• New products for management of execution of projects ensure more effective functioning of the project organizations:

• • the Model of search of the employee based on the summary can simplify selection and approval of necessary resources for work on the project. Search capabilities can help the organizations with event management on which the personnel, for example, change of terms of the project have an impact also.
  • Developer companies of the software can get advantages of the improvements implemented especially for the organizations, using flexible methodology of software development (Agile Development) and also integration with a new solution of Oracle Fusion Innovation Management (Innovation management).

• Thanks to mobile improvements project teams can use modern applications and internal social network in work:

• • Project Team Member Mobile is a new feature in the version of Release 9 which allows members of a project team to update, change and register freely progress in accomplishment of working tasks at any time and in any place.
  • Oracle Project Manager Cloud Mobile — allows project managers in a workplace at office at any time or out of it to use tablets for viewing detailed data of the project, including control of progress can be monitored using hierarchical representation of tasks

• Simplification of solutions and business processes increases efficiency:

• • New services and interfaces for different functional areas, including grants, assets, project management and resources, help the companies to perform integration with the various systems.
  • Control functions by potential projects will allow the organizations to create projects on the basis of the registered potentialities and to plan their implementation according to the concluded arrangements. Sales departments and project management will be able effectively to interact during all implementation cycle of the project, guaranteeing proper planning of activity and providing with resources and also accurately tracing expenses of the new attractive direction of business.

• Possibilities of the analysis and the reporting allow to trace better information on all implementation cycle of the project - from planning before end, at all levels of the organization:

• • For achievement of bigger transparency the analytical structure for project management of Enterprise Project Structure including new hierarchical submission of the reporting, several new data domains of the reporting for Oracle Transactional Business Intelligence and also standard samples of reports and information dashboards is added.

Oracle Applications Release 9 Spotlight on Financials

Oracle Applications Release 9 Spotlight on Procurement

Oracle Applications Release 9 Spotlight on Project Portfolio Management

Notes