Oracle Cements Cloud ERP Category Leadership

SAN FRANCISCO, Sept. 17, 2019 /PRNewswire/ -- ORACLE OPENWORLD -- Demonstrating its leadership and vision in the Cloud ERP market, Oracle today announced the latest updates to Oracle Enterprise Resource Planning (ERP) Cloud and Enterprise Performance Management (EPM) Cloud. The updates enable organizations of all sizes to enhance productivity, reduce costs and improve controls by introducing both product innovations and industry-focused solutions.

"Oracle continues to extend its lead in the Cloud ERP market with powerful new innovations to support the changing demands placed on finance and operations teams," said Rondy Ng, senior vice president, Oracle Applications Development. "Integrating intelligent assistants and machine learning capabilities into Oracle ERP Cloud enables customers to reduce the number of mundane - but important - tasks for their employees. This improves productivity and accuracy, enhances business insight and decision making and helps free up employees for strategic, creative and fulfilling work."

The latest product and machine learning updates to Oracle ERP Cloud enable organizations of all sizes to quickly and easily take advantage of innovations in artificial intelligence, digital assistants, natural language processing, and the Internet of Things.

    --  Digital Assistants: Reduces the effort required to submit and review
        time sheets, track the status of projects and escalate time entry and
        project management issues. Users can interact with the assistant via a
        conversational user interface for an improved user experience and
        heightened business efficiency.
    --  Intelligent Document Recognition: Improves the accurate and efficient
        ingestion of financial information from pdf and other popular financial
        document formats to reduce or eliminate manual invoice entry. Using
        self-learning capabilities, the system recognizes and processes supplier
        invoices and adapts to changes within invoice formats over time for
        superior accuracy, faster access, and a reduction in manual entry
        errors.
    --  Predictive Planning: This new capability in Oracle EPM Cloud helps
        customers identify and leverage trends and patterns in financial and
        operational data. Auto Predict improves the quality and timeliness of
        planning decisions by enabling customers to access predictions at data
        load time, see prediction and forecast variances, identify variance
        patterns and make plan revisions on the fly.
    --  IoT Monetization with Subscription Management: Allows customers to drive
        new revenue streams by feeding IoT data through usage meters to improve
        product insight and bring usage-based monetization models to market.
        Integrated with Oracle Cloud Applications, users can create flexible new
        upsell and cross-sell offers with consumption-based charging, while
        seamlessly managing billing and revenue.
    --  Lease Accounting with IFRS 16 Support: Improves insight into lease
        renewals and enhances business decision making via a single repository
        for all lease contracts, automated lease accounting and disclosure
        reporting in compliance with IFRS 16, ASC842 and GASB87 accounting
        standards.

To help customers improve business processes and achieve faster time to value, recent and upcoming updates to Oracle ERP Cloud also address several industry needs. These include:

    --  Vocado Student Financial Planning for Higher Education: Enables informed
        academic and financial decisions, reduces time-to-aid eligibility and
        first disbursement for students, and improves efficiency of financial
        aid processing to help higher-education organizations meet compliance
        requirements. Automated financial aid packaging that supports programs
        with real-time synchronization with Federal data sources reduces
        institution overhead and time to aid processing.
    --  Labor Distribution for Higher Education, Healthcare & Public Sector:
        Allows users to accurately distribute payroll costs, reduce errors via
        labor schedules, and satisfy audit and reporting requirements for
        improved cost transparency and analysis. This enables customers to
        improve budgeting processes, leading to informed resourcing decisions,
        and a better understanding of profit margin drivers.
    --  Joint Venture Accounting for Oil & Gas: Helps customers reduce partner
        disputes, improve cash flow and gain real-time visibility into the
        financial state of joint ventures by automating transaction processing
        and introducing role-based tools to manage exceptions. This enables
        customers to improve transparency and collaboration with joint venture
        partners.

Oracle ERP Cloud was named the sole Leader in Gartner's October 2018 Magic Quadrant for Cloud ERP for Product-Centric Midsize Enterprises. In addition, Oracle (ERP Cloud) has been named a Leader for three consecutive years in Gartner's May 2019 "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises". Oracle was also named a Leader for three consecutive years in Gartner's August 2019 "Magic Quadrant for Cloud Financial Planning and Analysis Solutions."

For additional information on Oracle ERP Cloud applications, visit Oracle Enterprise Resource Planning (ERP) Cloud's Facebook and Twitter or the Modern Finance Leader blog.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Oracle
The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

About Oracle OpenWorld
Oracle OpenWorld, the industry's most important business and technology conference for more than 20 years, hosts tens of thousands of in-person attendees as well as millions online. Dedicated to helping businesses leverage cloud for their innovation and growth, the conference delivers deep insight into industry trends and breakthroughs driven by technology. With thousands of sessions, demos and hands-on labs, plus exhibitions from more than 250 partners and customers from around the world, Oracle OpenWorld has become a showcase for leading cloud technologies, from Cloud Applications to Infrastructure. For registration, live keynotes, session details, news and more visit www.oracle.com/openworld or www.oracle.com/newsroom.

Future Product Disclaimer
The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, timing, and pricing of any features or functionality described for Oracle's products may change and remains at the sole discretion of Oracle Corporation.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

View original content to download multimedia:http://www.prnewswire.com/news-releases/oracle-cements-cloud-erp-category-leadership-300919847.html

SOURCE Oracle