Oracle ERP cloud: what are the latest developments?

Procure to Pay

The Oracle ERP Cloud tool within Enterprise Resource combines several functions. Procure to Pay (P2P ) provides supplier data management, improved procurement efficiency, simplified purchasing experiences, automated invoice processing and intelligent supplier payment solutions.

Supplier data management

TheOracle ERP Cloud tool integrates optimized supplier data management. This system gathers all relevant information concerning the different suppliers of the company. Thus, global visibility into supplier qualifications, capabilities, performance, and risk enables conscious transactions and avoids inconvenience.

Improving procurement efficiency

The P2P system from theOracle ERP Cloud tool aims to both optimize procurement efficiency and reduce costs. Negotiation phases are faster, which generates savings and provides greater value with suppliers. The P2P system simplifies the creation of documents through guided assistance and the integration of standard templates to facilitate operations.

Simplifying the buying experience

TheOracle ERP Cloud tool offers a feature that simplifies all operations related to the purchasing area of a company. This intuitive shopping experience is close to the customers’ experience. It allows you to research and compare different products and services quickly and reliably, increasing customer confidence and loyalty.

Automation of invoice processing

The Oracle ERP Cloud tool has an application that allows for automatic invoice processing. Here is a description of the operations resulting from this automation:

• fast recording and transfer of supplier invoices using optical character recognition and computer graphics;
• use of the Invoice Console to quickly resolve problems related to receipts that are not automatically recorded;

Intelligent solutions for supplier payments

Among the smart digital solutions linked to the evolution of Oracle ERP Cloud, vendor payments include the following benefits:

• limit financial outflows through intelligent payment discount suggestions ;
• planning the cash requirements report by identifying cash needs ;
• reduced data entry thanks to integrated payment processing models.

Order to cash

The Order to Cash (O2C) system includes the innovations of Oracle ERP Cloud. Here is an overview of the benefits of the O2C application:

• responding to dynamic customer needs through the use of a business community model adapted to the management of the company’s activities;
• share payment, billing and shipping activities by establishing customer account relationships, as required;
• Efficient invoicing with rapid generation of invoices and sales credit notes;
• resolve transactions at different stages of the billing process using the billing work area;
• simplify payments for customers by controlling cash flow with a variety of payment options;
• cost reduction through online invoice management, accessible to customers for consulting accounts, making payments, disputing transactions and printing documents;
• use intelligent instructions to find invoices associated with debit notes when automatic applications can’t find them.

Cash Management

The Oracle ERP Cloud integration includes the complete Cash Management (CM) system.

CM functions include the following actions:

• centralized management of bank accounts to secure cash flow ;
• targeted control of user access and functions by business sector ;
• electronic processing of bank statements and external financial transactions ;
• automatic reconciliation of bank statements and external treasury transactions to optimize account status;
• Daily display of the cash position to improve financial forecasting based on flows (statements, external transactions).

Asset Management

The Oracle ERP Cloud Expert has an Asset Management (AM) application that facilitates the management of the entire asset-related financial process. It includes acquisition, capitalization, amortization and withdrawal operations. These features maximize global asset visibility by unifying asset data globally.

Expenses

Oracle ERP Cloud integration enables the use of Expenses (EX) expense management software which greatly reduces manual tasks. Here’s an overview of the EX system principles:

• use of a digital spending assistant: data entry using voice commands and SMS image exchange;
• automatic controls on expenditure costs: verification of legal compliance of transactions, customized approvals, selection of audits ;
• pre-filling of credit card expenses: users can quickly link transactions to receipts;
• Mobile expense entry with iPhone or Android.