Amidst the economic slowdown, businesses of all types, sizes, and scales are struggling to maintain a healthy bottom-line. The best possible strategy to keep the growth engine ignited is to reduce costs, improve productivity, and control. Cloud major Oracle announced several measures to help businesses visualize the need to build resiliency with digital expansion.
The idea is to help finance teams leverage advanced technologies like AI, analytics, and digital assistant. So that productivity could be enhanced, IANS reported.
Major updates announced include Oracle Fusion Cloud ERP, EPM, and SCM.
“The ERP cloud has new AI and machine learning, analytics, and security capabilities.” The agency quoted Prasad Rai, Head, and VP, Applications, Oracle, as saying.
This will help organizations to identify and leverage trends and patterns in financial and operational data. Rai said.
There is a need for rapid adaption to the current economic climate and strategic decision-making. The latest innovations help finance teams bring the company back to a growth journey.
Bringing Back to Growth
The updated ERP solutions help in measuring business outcomes in the new normal, said Rai.
“We are helping our customers to operate on transparent data.” IANS quoted Rai as saying.
In addition, Rai appreciated the role of AI, process automation, predictive analytics, and robotics in modern supply chain management. He also updated the SCM cloud to bring backlog management, replenishment planning, project-driven supply chain.
All updates also help businesses build a resilient supply chain to boost growth.
Moreover, the demand is also expected to remain below average. Almost all companies are focusing more on efficiency boost to keep costs in check. Oracle’s recent updates will help companies improve operational efficiency through effective digital acceleration strategy.