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Thousands of organizations, from mid-sized organizations to the world's largest choose Oracle Fusion Cloud Enterprise Resource Planning (ERP) for our broad and deep functionality and global capabilities.
With Oracle Cloud ERP, you can run your entire business on a unified data model and connected processes that are updated quarterly. This means you won't have to spend your time integrating, upgrading, and managing your applications.
If you are using Workday, ask yourself: Is Workday delivering value across your entire business—or just part of it?
TrueBlue, The Fedcap Group, Rice University, and Providence St. Joseph Health discuss why partnering with Oracle Cloud ERP resulted in improved decision making, agility, and a faster close.
"We’ve seen around a 25 percent reduction in time spent generating reports, which is incredible given the number of reports and their different requirements."—Carol Khoury, Chief Financial Officer, The Fedcap Group
Business conditions are changing faster than many companies can keep up. You need a leader in cloud ERP to help you modernize mission-critical functions—and reliable sources like Forbes are calling Oracle the "real deal".
Oracle is already a long way ahead of the competition. Literally, Oracle is the only “leader” for Cloud ERP.
Patrick Moorehead Founder, Moor Insights & Strategy, and Senior Contributor, Forbes Magazine The Oracle Fusion Cloud Is The Real Deal, July, 22, 2020
Gain resilience and agility across the entire business with connected processes. Oracle Cloud ERP is complete, eliminating customizations and enabling consistent and actionable financial information. Oracle Cloud’s application suite offers the broadest and most seamless functionality across finance, planning, HR, supply chain, and customer experience. Pervasive AI and machine learning (ML) help companies identify anomalies, predict possible outcomes, and make recommendations. On top of processing only structured data, Oracle ML includes unstructured data, like scanned invoices. As a result, industry analysts and more than 7,000 customers consistently rate Oracle as the industry leader and proven partner.
With Oracle Cloud ERP, you can:
Only Oracle offers the most complete suite of ERP solutions providing continuous innovation, with built-in business security. That's why Oracle Cloud ERP is trusted by thousands of customers worldwide.
Workday Financial Management
Oracle Cloud ERP
Why this matters
|Access to a complete suite of cloud applications||Limited footprint: financials and HR centric.||Can extend to include inventory, manufacturing, maintenance, order management, logistics, PLM, risk management, supply chain, and customer experience.||Complete support for broad and deep operational end-to-end processes across finance, HR, distribution, manufacturing, service, sales, marketing, and supply chain.|
|Optimize business processes||Confined to finance and HR.||Processes optimized across lines of business using internal and external data sources.||Business processes must work across lines of business. You cannot fully optimize within two departments, otherwise you will have suboptimal results.|
|Manage profitability and performance||No costing capabilities and limited allocation capabilities.||Revenue and cost management handled at any business dimension.||You need to proactively manage revenue and cost across functions, including scenario planning and revenue management.|
|Choose the best ledger structure to fit your needs||Thick ledger only.||Choice of thick, thin, or structured federated subledger accounting.||A flexible ledger lets users decide how much data flows into the GL, based on their business and reporting needs.*|
|Support global accounting requirements||Limited support for multiple accounting methodologies including IFRS, US GAAP, and local GAAP.||Accounting grouped into logical entities, each with their own detailed accounting and costing methods.||You need an unequivocal view of the business while maintaining segregation of duties for statutory, corporate, regulatory, and management reporting needs.|
|Enable consistent accounting across systems||Complicated, two-step process that requires preprocessing prior to general ledger upload.||Centrally managed accounting rules to transform, account, and post journal entries from all systems.||Enforcing accounting policies with a single point of maintenance ensures consistency and reduces errors and reconciliation needs.|
|Plan holistically||Siloed planning across financial and workforce data.||One planning tool across all line of business data.||Planning and forecasting across functions, leveraging all enterprise data, gives you a holistic view of the business.|
|Streamline and simplify analysis||Financial and workforce data only: loads all data including non-financial into financials module.||Data analyzed across all modules: no need to pump all data into financials.||You shouldn't need to load data in to financials to get a comprehensive view of the business.|
|Deploy one solution for small, midsize, and large companies||Design not suitable to handle large data volumes. May require preprocessing in Prism Analytics to condense data.||One proven, scalable solution for all company sizes: handles small and extra-large data volumes without the need to condense data.||No need to migrate to another solution when your company and data volumes grow.|
|Manage risk||Limited capabilities to strengthen controls using a single point of maintenance.||Fully embedded risk management capabilities based on AI and ML, managed in a single module.||Built-in risk management and data science strengthen financial controls, stop cash leaks, streamline audit, and detect emerging risks.|
Product comparison accurate as of December 2020.
In a recent TrustRadius report, customers who reviewed Oracle Cloud ERP gave it high marks for integration, breadth of product features, reporting capabilities, and low maintenance costs and effort. One customer wrote, "Oracle Cloud ERP Financials Module is fantastic if you're looking for a quick implementation that can scale effectively on a global scale. Overall, the functionality is market-leading for cloud finance, and other Oracle ERP modules can provide an extensive network of capabilities that don't require additional integration."
Explore these customer use cases highlighting how companies across a wide range of industries have chosen Oracle Cloud ERP over Workday Financial Management.
The nonprofit health plan had to move quickly to adjust for the COVID-19 pandemic. Oracle Cloud ERP and HCM provided firm footing. “You need to have a finance system that gives you the flexibility and access to information required to support the kinds of innovations we are investing in as a health plan and partner to hospitals and independent systems. We get that with Oracle.”—Sandra Clarke, Senior Vice President and Chief Financial Officer, Blue Shield of California
The Fedcap Group finds living-wage work for its clients, using data it manages through Oracle Cloud “We’ve seen around a 25 percent reduction in time spent generating reports, which is incredible given the number of reports and their different requirements.”—Carol Khoury, Chief Financial Officer, The Fedcap Group
* A thin ledger contains the segments (data elements) company/account/center, and often additional segments like project and product. The number of segments is geared towards financial reporting, like creating an income statement, balance sheet, trial balance, etc. A thick ledger contains more segments than what you need for accounting. The additional segments enhance reporting and analytics, but make the general ledger more complex. Companies often use a thick general ledger as a general purpose analytics tool. According to Deloitte, "Making a COA overly complex isn’t going to ensure an unequivocal view of the business. It will open it up to interpretation and guesswork.” A third option is a structured federated ledger (such as Oracle Accounting Hub), which allows for hierarchies of companies in general ledger, each with their own segments and some shared federated segments. (Source: https://www2.deloitte.com/content/dam/Deloitte/au/Documents/audit/deloitte-au-audit-chart-accounts-0812.pdf).
Gartner, Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises, Robert Anderson, John Van Decker, Greg Leiter, June 29, 2020. 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, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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