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Cost management is an important aspect of strategy for any business. It helps them stay profitable and get the most out of their resources. Oracle (News - Alert) recnetly unveiled Oracle In-Memory Cost Management for the Oracle E-Business Suite, which helps clients reach their cost management goals.

Built on Oracle Engineered Systems, the new Oracle In-Memory Applications offers unprecedented insights into cost management. According to Oracle, this results in improved profits, enhanced efficiency and assistance in predicting future margins. With the help of Oracle In-Memory Cost Management, companies will be able to rapidly view, analyze and visualize the impact of cost changes.

Oracle Engineered Systems consists of Oracle Exadata Database Machine and Oracle Exalytics In-Memory Machine. This means this system can easily handle large volume of data essential for in-memory applications. The functioning of operational and working capital is also enhanced with Oracle In-Memory Cost Management, the company claims.

Oracle E-Business Suite brings together global business applications and these in turn help companies to arrive at better decisions, decrease costs, and improve performance. It also offers a single, global basis of information that work well with a company’s corporate objectives.

“In today’s global marketplace, manufacturing enterprises need cutting-edge technology to quickly process and analyze large volumes of complex cost data,” said Cliff Godwin, senior vice president, Oracle Applications Development. “With Oracle In-Memory Cost Management, organizations can now access real-time data to accurately perform 'what-if’ scenarios and analyses, and quickly visualize its impact. This capability will be incredibly valuable to organizations to make faster, better decisions that impact the bottom-line and to drive their overall strategic cost management objectives.”

Recently, Harvard Pilgrim Health Care, a full-service health benefits company, chose Oracle Fusion Advanced Controls. The company also decided to upgrade to Oracle E-Business Suite 12.1.