What Is Oracle Cloud ERP?
Oracle Cloud ERP, abbreviated as Oracle Cloud Enterprise Resource Planning, includes all sorts of functions in an enterprise or organization.
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Foremost, the Oracle Cloud ERP, abbreviated as Oracle Cloud Enterprise Resource Planning includes all sorts of functions in an enterprise or organization, i.e, from account management, financial management, and project management to procurement. Likewise, Oracle entered the IT industry with its maximum used cloud-based technology based on the end-to-end Saas (Software as a service) platform suite that runs on Oracle cloud centers. The tool has the ability to grow the business in an efficient way with its utmost delivery structure at lower costs.
Oracle Cloud ERP has a start of the art data security that makes the data flow much easier to share and secure. With this cloud tool, the components which get through the end users help the company or an organization to streamline the analytical flow, user experience, reporting and automation tools, compliance and Oracle Fusion SCM, and more.
What Are the Advantages of Implementing Oracle Cloud ERP?
Above all, an ERP suite allows the user to analyze, manage and store the data within the enterprise beyond all the operations in one subjective location that acts as a single path to generate more valuable reports. Speaking of the advantages of Oracle Cloud ERP, the most used areas of implementing ERP are as below:
- The all-seeing and chief advantage of the oracle cloud tool is its toughened security system.
- According to a few studies recently, the implementation failure rate is lower than the other cloud tools such as SAP. Also, the implementation cost is way less than SAP, with a better functional and user-friendly interface.
- Oracle Cloud ERP allows customized options to generate reports in a specific way based on the requirements of the end user. So definitely, the user can modify the data as per the need.
- As many organizations are adopting cloud technologies, the Oracle Cloud ERP is also a database technology; the integration of a single data for the report creation and report sharing is swift.
- There will be continuous and automatic upgrading of the Oracle Cloud ERP to witness their quick adaptive changes.
- Quick implementation, as well as configuration relevant to changes, shows up in the IT industry.
- Easy accessibility throughout the clock from anywhere and on any device.
- Improved User interface, i.e, the complete redesign shows quicker and easier to perform the management operations.
- Oracle Cloud ERP Applications will soon become legacy applications. They are feasible for large and Mid-size companies.
- This Cloud ERP supports and is accessible through all devices, including Mobiles.
What Are the Deployment Models Available in Oracle Cloud ERP?
As we said earlier, Oracle ERP is a Saas platform, i.e, Software as a platform. So it is the process of configuring an ERP system that migrates the data to newer software. There are types of Cloud deployment models which are Private Cloud, Hybrid Cloud, and Public Cloud. In brief:
- A Private Cloud can deploy an ERP system with a private cloud provider’s data center in co-location and a hosted environment.
- The Hybrid Cloud can deploy in a combination of Private and Public Clouds.
- Whereas the Public cloud can deploy your ERP in a shared and public deployment cloud.
As a part of the cloud deployment service, a few decision points have to be considered, such as Ownership, Customization, and Fiscal model, i.e, cut costs, Life cycle, and Outhouse vs In house management.
What Are the Versions History Changes for Oracle Cloud ERP?
After a lot of structural and analytical changes, the introduction of the Oracle Cloud ERP went through a few version updates to get a great market-changing cloud ERP. Oracle Cloud ERP was originally a part of Oracle Fusion Applications. Thereafter, Oracle’s enterprise resource planning software suite was developed for Oracle Fusion Architecture and Oracle Fusion Middleware which was released in 2011. Later, Oracle announced the preview availability of Oracle Cloud ERP at Oracle OpenWorld 2012. In October 2015, the company reported that Oracle ERP Cloud had exceeded 1,300 customers. On August 2, 2017, Oracle announced the R13 of Oracle Cloud ERP. Reportedly, the Oracle Cloud ERP business has grown to a run rate usage of over 11,000 organizations worldwide in October 2022 to run their businesses.
What Are the Major Offerings / Modules Available?
Oracle Cloud ERP comes up with a broader range of cloud-based ERP modules available that ease an organization’s operations from the Financial department to ERP Analytics. The list of offerings comes across as below:
- Oracle Fusion Financials: Financial positions are ever-changing in a company's operational management. So as, Oracle ERP comes with many features, Accounting hub, Reporting, and analytics, Expense Management, Payables, Assets, etc.
- Project Management: This module helps you plan and track a project and get a detailed overview of Resource Management, Cost control management, and Project asset management.
- Procurement: To streamline the best business networks and to attribute relevant supplier management, Sourcing that improves beneficiary elements.
- Risk Management and Compliance: This module supports reducing cash leaks, saving manual work to control the risk flow, Configuration and Transaction controls, and graphical representation of next-level business continuity.
- Enterprise Performance Management (ERM): This module drives the user - Planning, modeling, and reporting of data from one or multiple exponents, as well as detailed analytics of the operations. Assists the financial department in planning budgets, targets, and allocation of resources across the organization.
- Oracle Fusion SCM and Manufacturing: This module has many features Order Management, Individual Logistics, Product Lifecycle Management, Order Management, and tracking on procurement that builds evenly paced networks in the market conditions.
- ERP Analytics: The Cloud ERP correlates the whereabouts of the KPI management and shows lacking areas to improve the business architecture. Also, the user can predict and analyze the performance of inputs.
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