Oracle Cloud ERP software is the most advanced software available for managing business processes. Now available as a cloud-based application, Oracle’s software can be tailored to meet any industry’s standards and regulations.
Working with a business management cloud like Oracle’s means immediate responses to customer, supplier and investor questions while improving the flexibility of your work environment. Oracle Cloud ERP software keeps up with the globalization of industries and functions across multi-tier organizations.
But what exactly is Oracle’s Cloud ERP system, and what benefits does it offer for your business? Read on to find out.
What is Oracle Cloud ERP?
Oracle Fusion Cloud ERP, or Cloud Enterprise Resource Planning is a method of managing a multitude of business processes. Instead of using a paper portfolio to house your general ledger, for example, the ledger and your other financial planning tools are stored and updated within your ERP system.
Instead of using Excel spreadsheets to manage your inventory and calculate safety stocks, high-functioning ERP software can do it for you.
High-quality ERP software like Oracle ties all of the processes used within your enterprise together and houses them in one, easy-to-access system.
What is Oracle Cloud ERP’s History?
Oracle started in 1977 as a Silicon Valley startup known as Software Development Laboratories. The name eventually changed to Oracle, and the company became known for its pioneering database technology.
Because Oracle practices what it preaches, it notably saved itself $1 billion by consolidating its own systems using its “E-Business Suite 11i,” one of the first enterprise application suites. Oracle’s software continues to pave the way for ERP applications that foster growth in critical markets.
Examples of Oracle’s software in action include complex machine learning, like helping the physicists at CERN OpenLab perform analyses and designing high-performance cloud applications to further heart disease research.
Oracle also offers world-class software for the manufacturing, food and beverage, and medical industries, just to name a few. They are a true leader in software as a service offering and continue to innovate every day.
Oracle software consistently ranks highly on independent research organization studies. Oracle products are also thoroughly reviewed and vetted by industry experts, as seen in this overview by Constellation Research.
What Does Oracle’s ERP System Offer?
Oracle’s cloud-based ERP system has optimization opportunities for every sector of your organization. Their modern software includes ERP modules for:
- Project management
- Financial management
- Supply chain management
- Risk management and compliance
- ERP analytics and business intelligence
Oracle has created industry-leading ERP solutions that seamlessly manage every aspect of your company. These are just a few examples of what can be covered by an Oracle Cloud ERP System.
Oracle Cloud ERP provides the ability to easily access metrics associated with all of your business processes in real-time. User-friendly dashboards offer increased visibility into the state or your company. This insight helps with reducing costs and making informed business decisions.
Benefits of Oracle’s Cloud ERP System
The applications above might seem standard, but effectively using them in conjunction can help your organization to:
- Meet compliance, quality and sustainability standards
- Manage resource allocation
- Improve forecasting and demand management
- Reduce unwanted or expired inventory
- Accelerate supply chain responsiveness to market and competitive demand
- See every angle of your facility
- Avoid shipping and manufacturing delays
- Account for labor shortages and increases
- Keep products safe and manage recalls
- Stay on top of cost and pricing changes
- Easily budget and plan finances
- Understand day-to-day metrics and high-level KPIs
The benefits above are not an exhaustive list of how a modern ERP can help your company. Going through the process of thoroughly assessing what is currently working for your business and where you might be lacking will uncover more of what Oracle has to offer.
Adapt With a Modern ERP Cloud Solution
A modern ERP system like Oracle’s Fusion Cloud covers a huge breadth of solutions under a single, flexible roof. Oracle offers the ability to adapt to the latest trends in your industry and also adopt best practices in technology.
What is available in Oracle’s Fusion Cloud ERP? Here is a closer look.
- Smart Label implementation
- Robust demand planning and forecasting
- Running “what-if” scenarios
- Automating replenishment with consumption rules
- Implementation of order priority rules
- Vendor managed inventory
- Product life-cycle management
- Global trade and warehouse management
- loT (Internet of Things) and blockchain database capabilities
While your company might not be ready to leverage some of these niche offerings, knowing that Oracle software has the power and ability to integrate the latest technology allows you to stay on top of the competition.
Advanced Data Safety
In addition to the solutions outlined above, Oracle’s superior security measures provide an extra layer of protection to your data. All businesses are subject to potential compliance and data-integrity issues whether using cloud or on-premise software.
Oracle’s cloud security can limit users to certain access points in your ERP system and will even recognize and limit access while the user is in certain physical locations.
Oracle software security is able to be customized to your unique business. For example, helps their users assess and mitigate data risk with their Data Safe process. Oracle strives to detect emerging problems before they occur. This method minimizes the costs associated with security while strengthening financial controls, ease of audits and preventing system and financial leaks. Of particular interest is the ability to track and evaluate configuration changes within ERP processes, including changes to the general ledger, accounts receivable and payable, expenses, project management, and procurement.
This means you get to see not only outside threats and standard errors but also anything happening inside your own ERP system that might warrant further investigation.
Inside Oracle’s project management module is a unique element called Conversation Threads. This feature may seem small, but it takes Enterprise Resource Planning to a higher, more collaborative level by introducing social capabilities within the same software suite.
Conversation Threads can truly help your company with transparent, productive project communication. Different from other messaging software, Conversation Threads are held within your Oracle software suite so that your employees have a greater chance of staying on task and focusing on the work they’re doing.
Document sharing within this app brings the entire team together, even if they can’t be in the same room. Task management tools like this are also available on mobile devices so that everyone stays on the same page, even when they’re on the go.
Implement Oracle Cloud ERP With a Trusted Consultant
Launching or upgrading an ERP system in your organization is a huge project. It is easy to become overwhelmed with weeding through the improvements available to your organization.
As a trusted Oracle partner, NexInfo can leverage your existing ERP functionality while adopting new technologies that streamline processes and procedures.
NexInfo is different from other ERP consulting firms. NexInfo’s experienced consultants take the time to investigate your existing business processes to see if they’re operating at peak performance. They also help your business design new processes, if necessary, and adopt ERP applications to support them while relying on industry best practices.
The consultant team then develops a customized strategy with you and provides detailed roadmaps to keep new systems aligned with your overall goals.
Using an expert to launch your ERP helps avoid business discontinuity. Working with NexInfo is the best choice for deploying newly-licensed, modern Oracle Fusion Cloud ERP software to accelerate operational excellence.
Contact NexInfo’s consultant team today for more information on what is offered in an Oracle ERP system.