What is Oracle ERP Cloud?
Industry Specialties: Serves all industries
Benefits and Insights
Key differentiators & advantages of Oracle ERP Cloud
- Process Centralization: Oracle ERP centralizes a range of important workflows such as procurement, risk management, financial management and reporting. By connecting these departments, processes can be streamlined, and visualization can be improved.
- Workflow Visualization: This program enables visualization of internal tasks. For example, users can utilize dashboards that provide information on narrative and regulatory reporting processes. Account balances can also be viewed in real time.
- Improved Productivity: Oracle ERP can increase employee productivity by streamlining tasks to free up staff time for other matters. For example, the program can make the process of developing long-run forecasts easier, therefore giving employees space in their schedules to deal with other tasks.
- Integration: This tool can integrate with programs such as Microsoft Project and Microsoft Excel to improve processes. These specific integrations are often used to improve project visibility.
- Compliance: The program contains compliance and reporting standards through its risk management function. It complies with SOX and COSO 2013 among other regulations.
Oracle ERP serves companies in a range of business sectors. However, the Oracle website does mention specific functionality for organizations in the financial services, healthcare, education, manufacturing and retail industries that might prove especially helpful.
- Financials: The Financial Cloud contains basic accounting functions such as general ledger, accounts payable and accounts receivable. It also includes more advanced features including contract and performance obligations, payment management and project and travel integration. The tool provides visualization features that allow users to look at account balances in real time.
- Procurement: The procurement feature allows users to automate the procure-to-pay process. It also contains self-service functionality that enables employees to make their own purchases from approved suppliers. The program can effectively manage supplier negotiations through tools such as real-time negotiation monitoring and sourcing consistency.
- Project Portfolio Management: Oracle ERP contains the ability to manage project finances and project execution. It enables users to conduct project cost accounting that connects to assets, procurement and financials. The feature integrates with tools such as Microsoft Project and Microsoft Excel to provide greater visibility of project status. It can also help users find and allocate project resources in a best-fit manner.
- Risk Management: The system contains Segregation of Duties (SoD) features that adhere to best industry practices. User access can be monitored at more than 6,000 access points across the program. The risk management tool also ensures compliance with different regulations, such as SOX and COSO 2013.
- Enterprise Performance Management: The EPM tool contains connected planning, comprehensive financial closing, narrative reporting and enterprise data management. Specific capabilities include the development of long-range forecasts, account reconciliation and enterprise data governance. The system also contains dashboards where users can manage narrative and regulatory reporting to meet internal and external requirements.