A web-based ERP system designed by Oracle.
Oracle Cloud Enterprise Resource Planning (ERP) is an integrated suite of business modules designed to suit your ERP needs. The cloud applications assist with your business functions of finance, project management, procurement, risk management, and other day-to-day activities. The software can be scaled depending on what applications are needed, how many users require access, the number of transactions you process, and more.
Formerly known as Oracle Fusion, some of the advanced capabilities of this modern, cloud ERP suite are AI to automate manual processes, analytics to react to market shifts in real time, and automatic updates to gain a competitive advantage over your competition.
Oracle Cloud ERP Service offers an integrated financial management suite that is designed to automate, streamline, and control financial processes end-to-end without expensive hardware and system management overhead costs.
The Oracle Cloud offers self-service business applications delivered on an integrated development and deployment platform with tools to rapidly extend and create new services. The Oracle Cloud is ideal for customers seeking subscription-based access to leading Oracle applications, middleware and database services–all hosted and expertly managed by Oracle. The application services are designed for ease-of-use, enabling business users to manage the solution directly with no IT involvement.
Oracle Cloud ERP Service transforms process automation and information access to simplify controls, increase productivity and improve business decisions. It includes a broad suite of capabilities including general ledger, accounts payable, accounts receivable, fixed assets, expenses, collections and cash management as well as centralized accounting, tax, payment and intercompany engines.
Some of the key features of Oracle ERP Cloud include:
Oracle ERP Cloud comes with built-in artificial intelligence to help your business predict, detect, and act on new situations. With AI, you can eliminate your manual business processes by automating the most time-consuming work.
Here are some of my team’s favorite features of Oracle Cloud ERP that help us democratize information and make better decisions:
Cloud-enabled scenario planning: With the pandemic, it’s been especially important for us to run multiple scenarios. Different geographies have different quarantine requirements, so our sellers have been impacted in different ways. Oracle Cloud EPM offers powerful scenario planning so we can see how new product launches and existing products might perform under different conditions. And with a single source of truth accessible to everyone, we don’t need to spend time building consensus around the right numbers.
Turnkey reporting: As Square continues to innovate, we’re always looking at user feedback to see how we can improve our products while maintaining profitability. Decision makers need to monitor KPIs without waiting for IT’s help to run reports. With Oracle Cloud ERP, our business users can create and automate their own reports, so they get the data they need to make timely, informed decisions, whenever they need it and wherever they may be working.
Supply chain management: Before migrating to the cloud, we lacked end-to-end visibility into our supply chain. Instead, we cobbled together a number of tools that didn’t offer a complete perspective on costs and revenue. Everything was batch processed, so we weren’t getting real-time visibility into how our hardware products were performing. Meanwhile, coordinating supply across different contract manufacturers around the world was a time-consuming manual process. Now, we can see the levers that drive demand and build a supply chain to quickly meet customer needs in the most efficient and cost-effective manner; this information flows directly into our financials for complete visibility.
The foundation we’ve built with Oracle Cloud EPM for our budget processes has enabled us to quickly adapt to unexpected conditions, especially when building budgets and financial plans for the coming years. We have been able to model scenarios to increase efficiency, reduce risk, and provide our school leaders with the correct information to allow them to make informed decisions.
Compared to other systems, the drill-down capabilities and projecting your balances is great. I have not seen that level in other systems before. Integrations between other modules and the GL is great.
It’s a 6-12 months implementation depending on the modules and the complexity of what you’re implementing. 9 months is a target to have something completed in your project, maybe as a phase 1 like financials.
We wanted to be ahead of the curve so we were one of the first to go live on the ERP Cloud Financial system from Oracle.
By utilizing technology, we were able to maintain our efficiency ratio which gives us a huge advantage over our competitors.
We rely on Oracle to develop the best practices rather than follow the best practices.