To help businesses build resiliency and chart a course back to growth, Oracle has announced important updates to Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Fusion Cloud Enterprise Performance Management (EPM) and Oracle Fusion Cloud Supply Chain & Manufacturing (Oracle Cloud SCM).
The updates on the ERP and EPM front will help finance teams leverage technologies, including AI, digital assistants and analytics to enhance productivity, reduce costs and improve controls. The new AI and machine learning, analytics and security capabilities of ERP include Predictive planning, Intelligent Code Defaulting, Intelligent Document Recognition, Digital Assistant Skills for Time Entry and Projects and Embedded Incident Management.
Additionally, the new industry solutions will enable customers in Oil & Gas, Manufacturing, and asset intensive industries to improve business processes and achieve faster time to value.
According to Rondy Ng, Senior Vice president, Applications Development, Oracle said, “These latest innovations are designed to help finance teams rapidly adapt to the current economic climate, explore new business models, improve strategic decision-making and begin the journey back to growth.”
The advancements in SCM include Replenishment Planning, Backlog Management, Depot Repair, Project-Driven Supply Chain and Channel Revenue Management. These are aimed at helping businesses address the challenges presented by widespread supply disruptions, market volatility, shifting global trade patterns and changing customer expectations to build more resilient supply chains.
On the SCM updates, Rick Jewell, Senior Vice President, Applications Development, Oracle said, “The new updates will provide crucial insights needed to create efficient and resilient supply networks.”
According to Prasad Rai, Vice President, Applications, Oracle India, in the long-run, technology will play a strategic role in every single business process of an organization, initiative or aspect of the value chain as they pivot to become the Future Enterprise.
“Some of our customers also are looking at technology investments with a fresh lens to emerge on the other side of the crisis more resilient, digitally empowered, and adaptable, and ready to capture new growth opportunities. I foresee that in the coming months, a truly digital economy will take centre stage and technology companies will play the role of ‘trusted advisors’ to businesses. Oracle equipped with cutting edge state-of-art solutions, is in a position to play this role. We have worked with enterprises of all sizes and industries like UST Global, RBL Bank, Save the Children, Tata Sons, Hindalco and many more during this crucial time by enabling their path to business continuity,” he added.
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