Compare Oracle Cloud ERP for banking to SAP banking
The banking industry is going through unprecedented changes. In this shifting environment, a broad range of banks trust Oracle banking solutions to help them stay competitive. Oracle has proven to be the most complete and integrated provider of SaaS, ERP, EPM, HR, and SCM solutions. On the other hand, SAP has not built any comprehensive service offering across all segments of banking. When compared with Oracle, SAP's position in banking suffers from its lack of a banking solution that is integrated with ERP and other applications. SAP remains largely centered on the ERP market, rather than banking systems. In fact, SAP itself doesn’t claim any leadership position in the banking sector.
Oracle Cloud ERP vs. SAP banking
Compare SAP's ERP solutions to Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Cloud solutions for banking. It won’t take long to see why Oracle is the better choice.
Oracle Cloud Applications support all your business requirements, including ERP, EPM, HCM and CX. Oracle is the most complete cloud solution for banks, helping you manage everything from retail banking to corporate banking, with specialized offerings for payments, treasury management, supply chain, finance, lending services, and a host of other business operations.
Oracle’s advanced technologies, including cloud, Autonomous Database, embedded artificial intelligence, machine learning, analytics, open banking, and more help you move toward digital operations and drive innovation. We deliver both the applications and architecture to streamline your business processes and decommission third-party products so you can focus on meeting the requirements of your most important constituents—your customers.
Four reasons to choose Oracle over SAP banking
01Seamless integration
Oracle provides single vendor accountability for hardware and software with preintegrated components based on industry standards and open technologies, no matter the scale of your business transformation effort. You can seamlessly integrate a broad range of functionality with your pre-existing cloud architecture to save costs and accelerate your deployment.
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02Decades of global banking experience
Oracle has decades of global banking experience, and our customers span more than 140 countries. You can benefit from applications specifically developed to meet the most demanding business cases for the banking industry across revenue management and billing, sales and marketing, supply chain and finance, and advanced analytics.
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03Unified solution
Oracle also offers a comprehensive set of solutions across accounting, revenue management and billing, risk and compliance management, insurance, financial crime, and more, all supported with dedicated products and a unified data model. Whereas SAP’s arduous history of company acquisition has slowed down its effort to bring consistency in its interface and data exchange.
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04Ready to support your growth
Oracle delivers new features every quarter, and with every applications update comes an update of the platform, so you can use the latest technologies, innovations, and security in both the platform and application layer. You can add these updates at your own pace, so you can prioritize the deployment phases, control the cost, and mitigate risk.
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Investing in finance modernization
According to IDC Roadmap to Driving Finance Transformation in the Office of the CFO (PDF) (June 2022):
70%
of banking leaders believe their lack of reconciled data from source systems is a major hindrance to delivering timely insights.
85%
agree that modernizing financial operations will be an essential element for competing in volatile local, regional, and global markets.
75%
of banks and financial institutions are already investing in finance modernization.
According to the IDC report, the top reasons for investment in finance modernization include decreasing cost per transaction, gaining performance insights, and supporting faster technology innovation. In addition, the most important applications and tools to drive this transformation include financial planning and performance software; business analytics and data management; and governance, risk, and compliance (GRC) technologies; accounting.
Take the first step to migrate to Oracle Cloud
Oracle offers a complete suite of integrated SaaS cloud applications built on our next-generation infrastructure and built-in advanced technologies that are designed to run your entire business, not just parts of it. You can start your cloud transformation immediately and spend less time integrating, managing, and upgrading.
There’s no waiting on cloudy promises of future innovation. We update our solutions quarterly to support your changing needs. Choose performance over promises.
See why the banking industry chooses Oracle over SAP banking
Click on the customer logos below to see why these companies selected Oracle over SAP.
Banco Agrario unifies data and operations across 799 offices
"With Oracle Cloud ERP you have governance, control, and consistent data and accounting. The increase in efficiency and control is gigantic."
—Luis Ignacio Suárez, Vice President of Technology, Banco Agrario
Analysts consistently rate Oracle a leader
In the latest IDC MarketScape, “Worldwide End-to-End Corporate Banking Solution Providers Vendor Assessment,” IDC highlighted how Oracle stood out in end-to-end finance and data analytics. According to IDC, “Its history of relational database expertise and ability to integrate past acquisitions mean that it can provide the comprehensive solution and data capabilities sought by end users.”
IDC also pointed to SAP’s incomplete service offering and lack of presence in some regions, “SAP must still build its comprehensive service offering across all segments—it is particularly lacking in trade finance.”
According to Markets Insider, "Oracle has been at the forefront of the digital transformations that took place during the pandemic. The primary reason for that is its superior cloud-based ERP solution, which offers a whole host of features at cost-effective prices for its clients. These tools enable customers to save real money on reporting, data entry, back-end work, validation, and other aspects."
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Evaluating other ERP vendors?
Check out these side-by-side comparisons to see how we can help and why Oracle Cloud ERP leads where it matters.