LAS VEGAS, March 19, 2019 /PRNewswire/ -- ORACLE
MODERN BUSINESS EXPERIENCE -- Oracle has extended the
artificial intelligence (AI) capabilities within Oracle
Enterprise Resource Planning (ERP) Cloud and Oracle
Enterprise Performance Management (EPM) Cloud. The latest machine
learning-based innovations include an expense reporting assistant,
project management digital assistant, advanced financial controls
and project-driven supply chain management.
"Oracle continues to deliver on the finance innovation promise
expected by our customers," said Rondy
Ng, senior vice president, Oracle Applications Development.
"Our pervasive AI strategy delivered via continuous product updates
ensures rapid adoption with immediate business results. This allows
finance and operations teams to stay ahead of the technology curve
and retain a competitive advantage."
More than 6,000 organizations in 112 countries and 23 industries
have selected Oracle ERP Cloud to provide a complete, innovative
and securely-featured platform for their organization. With Oracle
ERP Cloud, organizations of all sizes can quickly and easily take
advantage of the latest innovations in artificial intelligence,
digital assistants, natural language processing, blockchain, and
the Internet of Things to enable enhanced productivity, reduced
costs and improved controls.
The latest machine learning-based innovations enable finance and
operations teams to spend more time on strategic initiatives that
grow the business by increasing efficiency, accuracy and compliance
across business processes. New innovations include:
- Expense Reporting Assistant: Streamlines expense report
processing by automatically creating, classifying and matching
expense items. Users can interact with the assistant through a
powerful voice interface, or simply by sending receipt images to
the assistant via email, SMS, Slack or Microsoft Teams. The
assistant uses machine learning to improve the automatic
classification of expense items, monitor policy violations and
reduce audit risks.
- Project Management Digital Assistant: Provides
instant project status updates and enables users to update time and
task progress using a digital assistant. The digital assistant
learns from your past time entries, project planning data, and the
overall context to tailor interactions and smartly capture critical
project information.
- Advanced Financial Controls: Provides continuous
analysis of transactions, setups, and configurations to automate
audits and help prevent financial leakage. The solution uses
self-learning algorithms to examine critical configuration changes
and transactions against a library of proven rules leveraging
built-in algorithms for fuzzy matching, anomaly detection, Benford
analysis, clustering etc. This approach uses data science
techniques to allow incidents to be directed to analysts for
tracking, investigation and closure.
- Advanced Access Controls: Automates user security
analysis using AI techniques to help protect business data from
insider threats and fraud. The solution uses graph-based analysis
to accurately and reliably assess violations hidden inside complex,
recursive and dynamic security configurations. This technique
includes a robust library of configurable, best practice data
privacy and SOD rules that can continuously monitor users, roles,
privileges, setups and transactions.
- Intelligent Supplier Management: Oracle DataFox
integration enriches supplier profiles with AI-sourced and
validated company data to power supplier scoring and
categorization. It uses AI techniques to extract dynamic supplier
risk signals from news articles and press releases, which are then
combined with DataFox's company data sources to automatically
manage supplier risk, by identifying which suppliers are at risk
and recommending alternative suppliers.
In addition, other machine learning driven innovations for
Oracle ERP Cloud previously announced include:
- Intelligent Payments which enable organizations to reduce costs
and build stronger relationships with top suppliers by taking
advantage of in-the-moment supplier profile and risk data to
generate vendor-specific offers in exchange for early payment of
outstanding payables.
- Intelligent Performance Management which uncovers hard-to-spot
data patterns to deliver actionable and contextual insights at the
right time, helping improve the quality and business impact of
financial and operational decisions.
- Intelligent Process Automation that enables the automation of
labor-intensive tasks and allows organizations to redeploy
employees to more strategic and rewarding work.
Oracle ERP Cloud was named the sole Leader in
Gartner's Magic Quadrant for Cloud ERP for Product-Centric
Midsize Enterprises1. In addition, Oracle (ERP Cloud)
was named a Leader in Gartner's "Magic Quadrant for Cloud Core
Financial Management Suites for Midsize, Large and Global
Enterprises2," "Magic Quadrant for Cloud Financial
Planning and Analysis Solutions3" (with the highest
position for its ability to execute) and was also named a Leader in
the 2018 "Magic Quadrant for Cloud Financial Close
Solutions4."
For additional information on Oracle ERP Cloud applications,
visit Oracle Enterprise Resource Planning (ERP)
Cloud's Facebook and Twitter or the Modern
Finance Leader blog.
Gartner does not endorse any vendor, product or service
depicted in its research publications, and does not advise
technology users to select only those vendors with the highest
ratings or other designation. Gartner research publications consist
of the opinions of Gartner's research organization and should not
be construed as statements of fact. Gartner disclaims all
warranties, express or implied, with respect to this research,
including any warranties of merchantability or fitness for a
particular purpose.
About Oracle
The Oracle Cloud offers a
complete suite of integrated applications for Sales,
Service, Marketing, Human Resources, Finance, Supply Chain and
Manufacturing, plus Highly Automated and Secure Generation 2
Infrastructure featuring the Oracle Autonomous Database. For
more information about Oracle (NYSE: ORCL), please visit us
at oracle.com.
Future Product Disclaimer
The 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, timing, and pricing of any
features or functionality described for Oracle's products may
change and remains at the sole discretion of Oracle
Corporation.
Forward-Looking Statements Disclaimer
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 March 19, 2019 and
Oracle undertakes no duty to update any statement in light of new
information or future events.
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of Oracle and/or its affiliates. Other names may be trademarks of
their respective owners.
1 Magic Quadrant for Cloud ERP for
Product-Centric Midsize Enterprises (Mike Guay, John Van
Decker, et al., 31 October
2018)
2 Magic Quadrant for Cloud Core Financial
Management Suites for Midsize, Large and Global Enterprises (John
Van Decker, Robert Anderson, et al., 29 May 2018)
3 Magic Quadrant for Cloud Financial Planning
and Analysis Solutions (Christopher
Iervolino, John Van Decker,
24 July 2018)
4 Magic Quadrant for Cloud Financial Close
Solutions (John Van Decker,
Christopher Iervolino, 26 July 2018).
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SOURCE Oracle