Oracle Announces Updates to Oracle Cloud ERP

Oracle recently announced new updates to Oracle Fusion Cloud ERP, as well as customer wins with TTX, Office Depot Europe, and the University of Pittsburgh.

The enhancements were outlined in an Oracle blog post by Rondy Ng, senior vice president of Applications Development, Oracle.

According to Ng, Oracle is providing hundreds of updates every year to Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Fusion Cloud Enterprise Performance Management (EPM). The latest updates will help customers take advantage of new growth opportunities by applying touchless processes that enhance the user experience and make work easier.

Ng went on to highlight several key new capabilities within Oracle Cloud ERP and Oracle Cloud EPM, which include:

Machine learning-enhanced intelligent performance management. This enhancement enables finance teams to import existing machine learning models from third-party applications, such as those that analyze customer data, deal profile data, or other operational data outside of finance, into Oracle Cloud EPM. This helps users validate and add context to plans, make more informed decisions, and more quickly turn predictions into business opportunities.
Financial reporting skills for Oracle Digital Assistant. This is targeted at enabling finance teams to easily manage account reconciliation, financial consolidation, and close processes with Oracle Digital Assistant. With the enhanced financial reporting processes, Ng said, users can quickly and easily obtain insights into their organization’s performance by asking simple questions, like “What are the reconciliations due today?”
New Oracle Risk Management workflows and dashboards. The goal is to allow rapid detection and remediation of issues by analyzing user activity and transactions that are powered by AI, automated risk assessment workflows, and pre-built controls that quickly deploy against security threats. Ng said the enhanced Oracle Risk Management dashboard improves risk awareness, collaboration, and executive oversight to help organizations build robust corporate governance.
Unified project planning, budgeting, and execution. This helps ensure projects are planned and executed in alignment with an organization’s strategic goals. For example, Ng said, users can propose projects in Oracle Cloud EPM and send them directly to Oracle Project Management for execution or easily extend budget controls and approvals in a single solution. The unified business flow gives users full visibility into strategic projects so that they can accelerate execution and enable organizational alignment throughout the entire project lifecycle.

In separate posts, Oracle highlighted customer implementations by TTX, Office Depot Europe, and University of Pittsburgh.