J.P. Morgan Payments and FedEx will help launch Oracle B2B
Commerce to automate end-to-end processes
LAS
VEGAS, Oct. 19, 2022 /PRNewswire/ -- Oracle
CloudWorld -- To help organizations reduce the cost
of doing business, improve the customer experience, and introduce
new offerings, Oracle has launched new services that will integrate
and automate end-to-end business-to-business (B2B) transactions.
The new Oracle B2B Commerce eliminates the disparate systems,
processes, and data integration challenges that make B2B
transactions so complex by directly connecting more than 40,000
buyers, sellers, and service providers via Oracle Cloud Enterprise
Resource Planning (ERP). For example, Oracle B2B Commerce will
provide integrations with J.P. Morgan's Payments business, which
includes the firm's treasury services, trade, commercial card and
merchant services capabilities, for integrated banking and J.P.
Morgan travel card and expenses services as well as a planned
logistics services integration as part of the FedEx Compatible
program.
"To complete a deal, trading partners need to work through many
manual interactions and each step in the process adds time and
inefficiencies, introduces the possibility of human error, and
takes buyers and sellers away from more strategic work," said
Rondy Ng, executive vice president
of applications development, Oracle. "With Oracle B2B Commerce's
integrations with J.P. Morgan Payments and FedEx, our customers
will be able to automate purchasing, selling, financing, shipping,
billing, and payments to reduce the cost of doing business."
Oracle B2B Commerce will combine direct connectivity
between Oracle Cloud ERP and service providers ranging from J.P.
Morgan Payments and FedEx to other financial services firms,
insurance companies, and delivery services with a unified data
model and secure workflows to digitize the entire B2B commerce
process for mutual customers. By enabling 40,000 businesses to
seamlessly transact and share information across all trading
parties, Oracle B2B Commerce helps expedite the completion of
transactions and improve the customer experience. It also enables
organizations to offer new services including new payment
solutions.
A direct integration with J.P. Morgan Payments will enable
Oracle Cloud ERP mutual customers to benefit from:
- Integrated banking services: Deliver turnkey
connectivity and integration with J.P. Morgan Payments that helps
significantly reduce payment set-up, configuration and technical
complexity. Customers will be able to integrate parts of the J.P.
Morgan Payments offering and can operate in Cloud ERP within hours
and eliminate weeks of technical integration work during
implementation. Fully automated end-to-end payment processing
maximizes efficiency in funds capture, cash disbursement, and
credit card processing. In addition, real-time cash positions
enable timely, predictive cash forecasting.
- Integrated J.P. Morgan travel card and expenses: Improve
employee experience and reduce reimbursement cycle through a new
touchless mobile experience. When a mutual customer's linked J.P.
Morgan corporate card is charged, authorization data will be sent
in near real-time so that business expenses get recorded, itemized,
and audited automatically. This eliminates tedious expense report
filing, streamlines approvals, and helps accelerate
reimbursement.
Hubert J.P. Jolly, global co-head
of corporate and e-commerce sales, J.P. Morgan Payments, said, "Our
goal is to provide cutting-edge payments solutions that transform
the financial services ecosystem. This requires us to be where our
customers are doing business. We are delighted to work with Oracle,
allowing its customers to gain seamless access to J.P. Morgan
Payments' offering, including improved cash flow insights and
helping to accelerate business transactions."
A planned FedEx Compatible program solution will enable
Oracle Cloud ERP customers to benefit from:
- Integrated Logistics Services: Eliminate custom
integrations and provide native on-boarding, real-time rate
quoting, shipping, and tracking capabilities. Oracle further plans
to deliver advanced capabilities to help optimize logistics
operations in order to reduce delivery costs and improve
performance.
Organizations of all sizes rely on Oracle Cloud Applications to
run their most important business operations. Built and run-on
Oracle Cloud Infrastructure, Oracle Fusion Cloud Applications
Suite, Oracle NetSuite, and Oracle's portfolio of industry-specific
applications deliver the scalability, security, and performance
today's businesses demand. Oracle's self-updating platform provides
customers with the industry's most advanced technologies every
quarter, giving organizations the ability to build, innovate,
automate, adapt, and leverage new business opportunities
on-demand.
About Oracle
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us at oracle.com.
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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. Many factors could
affect Oracle's current expectations and actual results, and could
cause actual results to differ materially. A discussion of such
factors and other risks that affect Oracle's business is contained
in Oracle's Securities and Exchange Commission (SEC) filings,
including Oracle's most recent reports on Form 10-K and Form 10-Q
under the heading "Risk Factors." These filings are available on
the SEC's website or on Oracle's website
at http://www.oracle.com/investor. All information in this
article is current as of October 19,
2022 and Oracle undertakes no duty to update any statement
in light of new information or future events.
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SOURCE Oracle