SAN FRANCISCO, Oct. 2, 2017 /PRNewswire/ -- Oracle OpenWorld — Oracle today announced that Oracle Enterprise Resource Planning (ERP) Cloud, the cloud solution of choice for finance, procurement and project management professionals, has significantly extended the breadth and depth of the solution including the introduction of new artificial intelligence (AI)-based finance and procurement solutions.
With more than 4,500 customers in 85 countries, Oracle ERP Cloud is the complete, innovative and secure financial platform delivered seamlessly through the Oracle Cloud. Part of Oracle Cloud Applications Release 13, the latest additions to Oracle ERP Cloud include modern capabilities for Financials, Procurement, Project Portfolio Management (PPM) and Enterprise Performance Management (EPM), which enable organizations to optimize operations with adaptive intelligence and standardize business processes, while lowering cost and complexity.
Artificial IntelligenceOracle has expanded its portfolio of artificial intelligence-based ERP applications, which enables finance and procurement experts to improve how they manage and collaborate with suppliers. New AI-powered capabilities optimize payment terms offered to suppliers and improve cash management. They also help to identify the right suppliers for specific business needs. New Adaptive Intelligent Apps for ERP, embedded within the Oracle ERP Cloud, deliver immediate impact and value for business professionals and improve business relationships with suppliers. For further details, see the Adaptive Intelligent Applications expansion announcement.
Financials This is a family of applications designed for organizations of all sizes looking to thrive in the digital economy. It empowers modern finance experts with streamlined processes and continuous embedded insights for better control and increased productivity. New capabilities in each of the solutions include:
Project Portfolio ManagementThis family of applications delivers new and enhanced capabilities to make staffing easier and less time-consuming for project managers, advanced grants management across multiple fund sources for Higher Education and Public Sector verticals, and streamlined project creation.
Enterprise Performance Management The latest additions to this family of applications include new offerings for tax reporting, and profitability and cost management, as well as new strategic modeling and disclosure management capabilities.
"Oracle ERP Cloud is the only enterprise-grade solution on the market with the breadth, depth, security, scalability and cutting-edge innovations to meet customers' business needs," said Rondy Ng, senior vice president, Oracle Applications Development. "Our focus on innovation, investments in industry specific capabilities, and strength in flexible and modular adoption methods, helps our customers across size, industry and geography to grow, transform and compete."
Additional InformationFor additional information on Oracle ERP Cloud applications, visit Oracle Enterprise Resource Planning (ERP) Cloud's Facebook and Twitter and Oracle Enterprise Performance Management (EPM) Cloud's Facebook and Twitter or the Modern Finance Leader blog.
Read Gartner's 2017 "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises" research report.
About Oracle OpenWorldOracle OpenWorld, the industry's most important business and technology conference for the past 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. Designed for attendees who want to connect, learn, explore and be inspired, Oracle OpenWorld offers more than 2,500 educational sessions led by more than 2,000 customers and partners sharing their experiences, first hand. With hundreds of demos and hands-on labs, plus exhibitions from more than 400 partners and customers from around the world, Oracle OpenWorld has become a showcase for leading cloud technologies, from Cloud Applications to Cloud Platform and Infrastructure. For more information; to register; or to watch Oracle OpenWorld keynotes, sessions, and more, visit www.oracle.com/openworld. Join the Oracle OpenWorld discussion on Twitter.
About OracleThe Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.
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Safe Harbor DisclaimerThe 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, and timing of any features or functionality described for Oracle's products remains at the sole discretion of Oracle Corporation.
Statements in this article relating to Oracle's future plans, expectations, beliefs, and intentions are "forward-looking statements" and are subject to material risks and uncertainties. Such statements are based on Oracle's current expectations and assumptions, some of which are beyond Oracle's control. All information in this article is current as of October 2, 2017 and Oracle undertakes no duty to update any statement in light of new information or future events.
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