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Top 5 New Features in Oracle Procurement 12.1.1

With the new release of Oracle Procurement 12.1.1 and new analytical capabilities in Oracle Business Intelligence Applications, procurement managers now have a wider variety of tools for improving sourcing, contracting, and compliance.

While some enhancements focus on efficient processing of procurement transactions, the main emphasis of 12.1.1 is tools to help managers tackle today’s most important supply management opportunities.

Here are some of the top improvements:

1. New Oracle Procurement and Spend Analytics
   Procurement managers can create a more complete understanding of their top opportunities by using Oracle Procurement and Spend Analytics 7.9.6. It offers hundreds of performance reports and dashboards, with adapters for extracting data from previous releases, prior Oracle E-Business Suite releases, and from legacy systems. The analytics application includes predefined mapping to common data formats needed for information extraction and rapid creation of a complete repository of spend data.
   
   “The ability to pull data from multiple invoicing and purchasing systems into one place enables organizations to spot new opportunities for optimizing their supply base,” says Bill Tokheim, Oracle’s director of procurement product strategy. “It also provides an invaluable tool for compliance because analytics can quickly identify problematic hot spots.”
   
   
2. Redesigned User Interfaces
   Release 12.1.1 of Oracle Sourcing builds on existing integration with Microsoft Excel to provide users with a new, highly navigable interface for working offline while still staying connected to electronic sourcing processes. For example, suppliers can download bid-creation worksheets for offline collaboration prior to submitting final bids. Sourcing managers can use improved color-coded, formatted worksheets for offline analysis and comparisons of supplier bids.
   
   
3. Oracle Sourcing and Sourcing Optimization Reduce Complexity
   Release 12.1.1 of Sourcing and Sourcing Optimization simplifies the process of gathering and understanding the best combination of bid packages from suppliers. New functions make it easier to gather and organize more complex pricing proposals. Sourcing Optimization also makes clearer the impact of supplier incentives and award policies. For example, an organization’s goals may require that at least 10 percent of an award goes to minority-owned suppliers or that no single supplier gets more than 80 percent of the total business.
   
   
4. Oracle Procurement Contracts Builds On Contract Workbench
   Release 12.1.1 also introduces enhancements to the central contract workbench shared by Procurement Contracts and Sales Contracts. The revised contract workbench provides a wide range of authoring tools for generating contracts that comply with corporate standards. These tools include contract templates defined in the central contract-terms library, Contract Expert for contract configuration, and deviation reporting that flags violations of a company’s legal or commercial policies.
   
   
5. Expanded Deployment Options Through Oracle Sourcing On Demand
   Oracle has introduced Oracle Sourcing On Demand, the software-as-a-service (SaaS) solution that optimizes sourcing programs. Users can subscribe to a current release of Oracle Sourcing and Sourcing Optimization along with the training tools needed to ensure productivity. Both buyers and suppliers will receive help desk services from functional experts, helping to ensure that events are successfully concluded.

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