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Spring 2021 Oracle Cloud ERP Update

Every 90 days we deliver the industry’s most advanced technologies to your applications so that you can modernize processes, automate manual work, increase speed, and spark innovation. Explore the latest updates below.

Video highlights from Oracle Live

Oracle Fusion Cloud ERP: Supporting the Future of Finance (2:43)

Oracle VP for ERP Applications Development Catherine You explains how three evolutionary innovations—touchless operations, continuous forecasting, and conversational experiences—impact finance’s future.

Demo: Next-Gen Cloud Apps Bring a Virtual Workspace to Finance and Operations (3:49)

In this demo, discover how Oracle Cloud Applications combine real-time enterprise analytics, machine-driven forecasts, collaboration, and augmented reality to transform front- and back-office experiences.

What’s new in the Spring 2021 update

Supercharge work with a new digital assistant

Oracle Cloud ERP now has an embedded, AI-guided digital assistant that helps you bring work across the finish line faster. With a conversational UI that understands the way you naturally speak and text, it’s easy to get instant responses to questions, recommendations for next-steps, and quick analysis of critical tasks. Whether you’re at your desk or on-the-go, leverage your digital assistant to move business forward. You can now:

  • Get your expenses done an easier way. Create, submit, and track your expenses all with the digital assistant
  • Reimagine the way your team does project management. Reduce the time it takes to enter your time, get project status updates, issue action items, and more, right from the digital assistant
  • Understand where you stand with the numbers. Ask the digital assistant to check balances and items like “recons due today”, manage journals and close status for any period, and more

Manage your joint ventures more easily

Tap into new revenue growth by diversifying your business interests. With a new feature in Oracle Cloud ERP supporting joint venture management, you’re able to pursue new business opportunities with lower costs and minimized risk, while monitoring performance against plans in real-time, so you have the flexibility to throttle your investment levels. You can now:

  • Reduce month-end close time from days to hours using touchless joint venture rules-based processing
  • Accurately calculate partner shares through date-effective ownership definitions and distribution rules
  • Minimize dispute resolution costs with transaction and joint venture definition audit trails

Head off potential issues with better risk management

New risk management workflows and dashboards help fortify your business processes with stronger collaboration and communication, faster detection and remediation of issues, and more efficient audits. You can now:

  • Quickly review and act when AI-driven analysis identifies unwanted user access and activity
  • Support good corporate governance by standardizing, centralizing, and automating financial reporting
  • Promote a risk-intelligent culture by integrating collaboration and information sharing between control owners and governance teams

Make smarter, faster decisions for your business

Machine learning models from third party applications, including those that analyze customer data, deal profile data, or other operational data, can now be imported into Oracle Cloud EPM for you to use in the context of your everyday business activities. You can now:

  • Validate and add context to all plans
  • Run what-if scenarios based on predictions from the machine learning models
  • Quickly turn predictions into business value for your specific function or industry

Closely align your projects and strategic plans

A new feature that brings together EPM Planning and Project Management improves your ability to plan, budget and execute projects that help meet strategic objectives. When projects are completed, actual costs are collected and summarized in EPM Planning to provide variance analysis and a starting point for re-planning. You can now:

  • Propose and approve projects in EPM Planning and seamlessly initiate them in Project Management for detailed planning and execution
  • Extend budget management and approval from enterprise planning to project execution
  • Monitor projects against strategic plans and improve re-planning with more accurate forecasting

I've been in IT for 20 years, and I’ve never before seen a company’s products advance as quickly in a year as the Oracle Cloud products advanced. That investment is what really excited us.

Jon Allen
Assistant Vice President, Chief Information Officer and Chief Information Security Officer, Baylor University

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