A recent survey found that the COVID-19 pandemic has increased finance-related stress at home and in business, and people around the world are looking to AI-enabled robots and digital assistants for help.
Dynamic Discounting encompasses two intelligent features that enable you to create a discounting program that is tailored to each individual supplier. These features include Supplier Categorization and Intelligent Payment Discounts.
Leverage a consolidated view of supplier information to support dynamic discounting strategies. Experience smart recommendations based on supplier, firmographic, and spend data. Optimize the procure-to-pay process by combining data from vendors, invoices, and payables with external sources of business data to gain insights into the supplier ecosystem.
Intelligent Payment Discounts
Automatically apply prenegotiated discount rates that support dynamic discounting campaigns for enrolled suppliers or one-time special circumstances. Capture missed savings opportunities, optimize working capital, and generate significant investment returns on free cash through data-driven discounts that eliminate rigid and inflexible contract terms.
Machine learning automatically predicts and inputs distribution combination code segments for invoices not yet associated with purchase orders. This capability automates what are routine and mundane data-entry tasks, reducing invoice processing time. The machine learning component optimizes its performance on an ongoing basis, learning and improving predictions over time.
Improve usability and efficiency—while reducing human error—by automating core processes and providing guided actions for users.
Deliver insights and agility by optimizing business processes across procurement, payables, receivables, supplier management, and treasury management.
Optimize processes, free-up time and resources, and help finance teams play a bigger role in driving corporate initiatives, thus improving outcomes and influencing business strategy.
Deirdre Houchen, Senior Marketing Director, ERP/EPM, Oracle
COVID-19 has shown that business stability is an illusion. Change is constant so organizations need the leadership and an infrastructure that can adapt, scale, analyze and respond in real-time.Read the complete post
Cloud Customer Connect is Oracle's premier online cloud community. With more than 200,000 members, it's designed to promote peer-to-peer collaboration and sharing of best practices, product updates, and feedback.
Miranda Nash, Oracle’s vice president of product management for AI Apps, explains how Oracle brings machine-learning–based enhancement to Oracle SaaS products.