All Boons Of Oracle ERP Cloud You Must know!!

All Boons Of Oracle ERP Cloud You Must know!!

by | Jul 6, 2022 | ERP, Oracle

A Brief History Of ERP

A transition from paper cards to mobile devices

More than 100 years have passed since ERP was created. A paper-based manufacturing system called economic order quantity (EOQ) was developed in 1913 by engineer Ford Whitman Harris. EOQ was the industry standard for decades. When the toolmaker Black and Decker became the first company to integrate EOQ concepts with a mainframe computer in 1964, it changed the game.

Manufacturing resource planning (called MRP II) replaced MRP as the standard in manufacturing. The core manufacturing components of MRP II were modules: purchasing, bills of materials, scheduling, and contract management. First-time integration of different manufacturing tasks has been accomplished. MRP II offered organizations other compelling examples of how organizations could optimize operations and boost operational efficiency through better production planning, reduced inventory, and reduced waste (scrap). In the 1970s and 1980s, MRP II incorporated finance, customer relationship management, and human resources data as an extension of manufacturing. Business management software had a name by 1990—enterprise resource planning. In this article, we will explore the benefits of Oracle’s ERP Cloud.

Cloud and on-premises ERP deployment models

ERP adoption grew rapidly during the 1990s and the beginning of the 21st century. In parallel, ERP system implementation costs began to rise. For the software to run, big machines were usually found in a server room, typically on company premises. Both hardware and software licenses require capital investments that depreciate over a five to ten-year period. Furthermore, organizations often want to customize their ERP systems to fit their specific needs, resulting in additional expenditures such as software consultants and training.

At the same time, ERP technology was evolving to include new features, such as embedded analytics. Over time, organizations found that their on-premises ERP systems were unable to cope with modern security demands or emerging technologies such as smartphones.

Implementing ERP in the cloud: A new delivery model

Introducing cloud-based ERP, specifically software-as-a-service (SaaS)… A company’s ERP software runs on a remote server network instead of inside its own server room when it’s delivered as a cloud service. Cloud providers manage, patch, and update software several times a year, not every 5 to 10 years as they do with on-premise systems. Since the cloud eliminates the need for companies to purchase software and hardware, or hire additional IT staff, it can reduce both operational and capital expenses. As a result, the organization can invest its resources in new business opportunities, and its ERP software is up-to-date at all times. Instead of managing IT, employees can focus on more value-added tasks such as innovation and growth. The benefits of Oracle ERP Cloud can help organizations increase productivity and make better decisions.

Based on Oracle Fusion Applications, Oracle Cloud ERP offers a cloud-based ERP service that implements Oracle Fusion Architecture and Oracle Fusion Middleware. A suite of Oracle Cloud ERP applications was announced by Larry Ellison, Oracle’s CEO and CTO, in June 2012 as part of Oracle Cloud, the company’s cloud-based applications suite. Oracle Cloud ERP was announced as a preview at Oracle OpenWorld 2012. The company reported 1,300 Oracle ERP Cloud customers in October 2015. It released Release 13 on August 2, 2017.  

Introduction to Oracle ERP Solutions

Tomorrow’s leaders are those most capable of adapting to change today. Oracle Fusion Cloud ERP is a complete, modern, cloud ERP suite that provides your teams with advanced capabilities, such as AI to automate the manual processes that slow them down, analytics to react to market shifts in real-time, and automatic updates to stay current and gain a competitive advantage.

Why Should You Consider Oracle’s ERP Cloud Solutions for Your Business?

In today’s business world, ERP is unavoidable. By integrating enterprise data and processes into ERP systems, businesses can align departments and streamline workflows, resulting in huge savings. Here are a few examples:

  • A better understanding of the business- based on real-time information
  • Reduced operating costs- based on streamlined business processes
  • Improved collaboration- Data shared by users in contracts, requisitions, and purchase orders
  • Enhanced efficiency – Business functions and processes are well-defined to provide a unified user experience
  • Consistently designed infrastructure- Business activities are conducted the same way from back to front
  • Improved adoption by users -because of a similar user experience
  • lowered risk –through improved data integrity and financial controls
  • improved management and operational efficiency –through uniform and integrated systems

Benefits for various types of companies

Despite the fact that ERP starts with “enterprise,” it is not just a tool for large firms. All sizes of companies can use it and you can add workers, machinery, departments, and locations as you grow.

Startup

Typically, startups have five to ten employees or freelancers. Small businesses and home offices tend to have small facilities, with Excel or similar tools to manage business affairs and bookkeeping.

Small

Most of these businesses are mom-and-pop corner shops, which usually specialize in a certain type or amount of product (i.e., pharmacies,  fishing stores, convenience stores, etc.). Keeping track of finances and doing other business affairs is possible with small business accounting systems.

Mid-Sized

Think of a mid-sized company as an organization with roughly 50 to 100 employees. ERPs centralize workers, departments, tools, and more while growing if you’re looking to expand.

Small and Medium Enterprise (SME)

There is no one-size-fits-all approach when it comes to SMEs. There is actually a classification of SMEs based on their sizes and industry type. These businesses require accounting and other business solutions.

Enterprise

These companies employ between 1,000 and 10,000 people and have local, national, or global locations and partners. Examples are Walmart, Apple, and Microsoft.

What are Oracle’s Key Features?

Cloud-based software like Oracle Cloud has a wide range of benefits. Due to its name, ERP Cloud is designed to live in the cloud. It is known for its flexibility. But what are some other benefits?

  • Upgrades are not necessary

Cloud-based software automatically receives updates and new functionality. It only requires an internet connection. As a result, you avoid the potential expense of system upgrades in the future, so your system is always up to date.

  • LESS EXPENSIVE UP FRONT

If you opt for on-premise ERP software, you will need to invest in the equipment and personnel needed to operate the system. A subscription-based ERP Cloud is run over the internet, which reduces the initial implementation costs.

  • SCALEABLE

The ERP Cloud’s ability to grow with your business is one of its most prominent features. In order to drive digital transformation and profitability, any business can leverage ERP Cloud for automating processes, such as inventory management, or for reducing costs through streamlining and a lower total cost of ownership.

  • CURRENT SECURITY MODELS

Many companies opt for cloud-based ERP platforms to secure their data. In addition, ERP Cloud keeps your system up-to-date with the latest security measures with its automatic deployment of updates. Further, cloud data storage offers an economic benefit as well – it can be outsourced to a larger and more secure third party, eliminating hardware maintenance costs.

  • MODERN USER EXPERIENCE

The use of ERP for business purposes is now widely accepted, but it was not always so. Despite the improvements in acceptance, businesses are still on the road to digital transformation. ERP Cloud has mobility features that keep workers connected throughout the day 

The ability to make informed decisions and personalize the customer and employee experiences is enabled by real-time analytics that are connected but agile.

  • THIRD-PARTY INTEGRATION

Despite ERP Cloud’s comprehensive software suite, your business may require more to maximize the benefits of your ERP system. Third-party solutions can be integrated with your system.

  • BETTER BUSINESS PROCESSES

Oracle ERP Cloud is an industry leader, named as one of the most powerful ERP solutions. As ERP Cloud simplifies IT systems and enables the addition of security and new features faster, business leaders are more and more relying on it.

Oracle’s Approach to Enterprise Resource Planning on the Cloud

In addition to the AI features, Oracle Fusion Cloud ERP offers analytics to make real-time adjustments to market shifts, and automatic updates to stay current and gain a competitive advantage.

A cloud-based ERP solution from Oracle is the ERP of tomorrow, today. A cloud-based ERP solution from Oracle is the ERP of tomorrow, today. This modern user interface is easy to use and provides state-of-the-art data security. With rapid growth, the company has become a market leader, particularly among growing companies in professional services, financial services, healthcare, and higher education.

Oracle ERP Cloud typically has lower initial and ongoing costs than comparable on-premise solutions, while delivering capabilities and functionality that benefit businesses. Through streamlined and automated processes, Oracle ERP Cloud helped customers transform their businesses through greater visibility over the organization. Compared to on-premise systems, Oracle ERP Cloud requires less hardware, and IT management personnel enables faster deployments, and smoother upgrades, and requires less maintenance.

ERP System Examples

These ERP systems can help you automate your company’s processes.

  • Oracle ERP Cloud
  • Acumatica
  • BizAutomation
  • SAP S/4 HANA
  • NetSuite

Latest Announcement from Oracle- The First A.I. Enabled ERP Cloud Solution!

The Oracle Cloud ERP and EPM applications now include artificial intelligence capabilities. Machine learning-based innovations include automatic expense reporting, a virtual assistant for project management, advanced financial controls, and supply chain management driven by projects.

“Oracle continues to deliver on the finance innovation promise expected by our customers,” said Rondy Ng, senior vice president, of Oracle Applications Development. “Our pervasive AI strategy delivered via continuous product updates ensures rapid adoption with immediate business results. This allows finance and operations teams to stay ahead of the technology curve and retain a competitive advantage.”

The Oracle ERP Cloud has been selected by more than 6,000 organizations in 112 countries and 23 industries for its complete, innovative, and secure features. Embrace new technologies like artificial intelligence, digital assistants, natural language processing, blockchains, and the Internet of Things with Oracle ERP Cloud to boost productivity, reduce costs, and improve control for organizations of all sizes.

Enterprise Resource Planning (ERP) Systems Trends

A company’s ERP software system is often one of the major investments it will make. Before deciding which solution to implement, research existing options and future ERP trends.

  • Industry 4.0

Intelligent technologies such as the internet of things (IoT), virtual reality, and augmented reality can be used to achieve digital transformation in manufacturing. In addition to ERP not managing these technologies, the ERP system must exchange data with both hardware (sensors and fixed assets) and software (IoT management and digital twins).

  • Artificial intelligence (AI)

AI has multiple applications that can improve ERP efficiency. AI analyzes large amounts of complex data, identifies trends, and makes recommendations to improve business processes. Automating processing with robotics (RPA) allows users to create bots that can perform basic tasks rapidly and efficiently. Several ERP vendors use conversational user interfaces, in which users can ask questions or instruct computers to perform simple tasks such as sending emails or printing invoices by sending a message. 

  • Power Apps

Power Apps is a suite of mobile apps, data services, and platforms that enables rapid app development for your business. Today, PowerApps are a big trend in organizations. Most people are using or looking for a power app. They can be incredibly useful to organizations. Using them improves efficiency, and communication, and keeps an organization up-to-date with the latest trends. Companies can use apps to perform their daily tasks in a way that is more user-friendly and efficient. Additionally, PowerApps can help an organization gain more exposure. 

  • Microservices

In order to provide more flexible solutions, vendors have been increasingly using this kind of software architecture. With microservices, buyers can combine software modules from several different products, rather than using monolithic ERP. In addition, manufacturers who handle their distribution and sell online will benefit from custom solutions that include features normally sold separately.

Why ERP Cloud is the Future of Business Technology?

When you think about the future of your business, the ERP system must also always be innovative. Analytics provide insights into your operations, but real-time information gives you a clear picture of them. Collaboration is facilitated by information sharing and connectivity, making it easier for employees and departments to understand business data.

Meanwhile, enterprise technology is evolving to meet our needs as technology improves our lives. Here are some ways ERP Cloud is embracing new capabilities:

  • Cloud operation

The main advantage of ERP Cloud is that it is designed and deployed in the cloud. We’ve seen that cloud-based solutions have numerous advantages, including lower upfront costs, data security, and more. Enterprise cloud software is chosen for their business by eight out of ten CFOs.

  • Designed to support next-gen technology

ERP Cloud can not only scale with you, it can also adapt to changes in the business. A number of new tools are being hailed as the future of business, including machine learning, artificial intelligence (AI), and the Internet of Things (IoT). ERP is ideal for automating these processes.

  • Modern platform and design

A key factor in the effectiveness of ERP is the user experience. In other words, if a platform is easier to use and understand, then employees are more likely to effectively use it. Users of ERP Cloud can utilize personalized and automated features, such as Oracle Orchestration Cloud notifications, to free up their time and focus on more critical tasks.

  • Mobile

Mobile technology is no exception to the prevalence of ERP. The ability to access your business data anywhere has become a necessity for businesses. Real-time analytics and operations are also integral for businesses. Mobile-based capabilities are easy to implement and have become commonplace.

Conclusion

Using next-generation, cloud-based, and modern ERP solutions enables organizations to respond quickly to volatile markets and industry trends while reducing the cost of support.

Providing businesses with a powerful and flexible cloud software solution, Oracle ERP Cloud is part of the growing trend of cloud computing. Learn more about Oracle ERP Cloud applications at Top 5 features to optimize your business processes with the Oracle Business Suite blog. Contact us to find out how your business can take advantage of the future of the enterprise cloud.

Top 5 Features To Optimize Your Business Processes With Oracle Business Suite

Top 5 Features To Optimize Your Business Processes With Oracle Business Suite

by | Jun 28, 2022 | Oracle

Here, we examine Oracle EBS’s history and how it came to be.

The Beginning

Oracle Corporation was founded in 1977 by Larry Ellison and Bob Miner. Oracle Systems Corporation was originally known as Software Development Laboratories, but that name was changed in 1982 to Oracle Systems Corporation. In 1990, Oracle Corporation went public and the stock quickly grew in value.In 1995, Oracle acquired PeopleSoft, which was at the time the second-largest enterprise applications provider in the world. A few years later, Oracle acquired the Oracle E-Business Suite applications. They run on Oracle Database, the vendor’s flagship product. Oracle’s E-Business Suite was its first complete ERP and CRM package; it continues to be widely used after acquiring JD Edwards, PeopleSoft, and Siebel.

Oracle E-Business Suite has pre-integrated its business intelligence applications, enabling users to analyze data and perform BI. Business Process Management (BPM) solutions like Oracle EBS compete with each other.ERP stands for Enterprise Resource Planning. Organizations use it to run their daily operations. In the current market, Oracle E-Business Suite is one of the most reputable ERP products. 

How  Oracle’s Business Process Management Software  Can Maximize Your Project Performance?

You can optimize BMP with Oracle to ensure smooth integration of every stage of the application development life cycle, from design through implementation to runtime and application management.

What is Oracle Business Process Management?

It is one of the tools in the Oracle Business Process Management Suite and provides solutions for creating, executing, and optimizing business processes. By automating and optimizing business processes, the suite enables business and IT to collaborate like never before.

With the Oracle BPM Suite, you can develop, administer, and use business applications focusing on business processes.

Oracle BPM Suite features include:

  • Provides user-friendly applications that allow you to create process models based on standards. This enables management analysts and developers to collaborate. A full range of Oracle BPM features are supported, from modeling and implementation to runtime and monitoring.
  • Process analysts and process owners can customize business processes and Oracle Business Rules with this tool.
  • An application that simplifies the creation of business processes, editing of Oracle Business Rules, and task customization using predefined components.
  • Supports flexible, unstructured business processes. Using declarative patterns and rules-driven flow determination, it creates dynamic tasks and allows approval routing.
  • By integrating Oracle Process Spaces, this product enhances collaboration and drives productivity.
  • Develop process-based applications by addressing all stages of the application development life cycle. Implementation, deployment, and monitoring are unified by Oracle BPM.

 What are the benefits of Oracle BPM?

The BPM industry is evolving as more and more organizations embrace digital transformation. This led to a new structure of modern process management that incorporates technology into all areas of operation. Through digital transformation, BPM software helps to move the needle by improving operational efficiency, customer service, and innovation. In addition, it is capable of much more.

The benefits of implementing business process management

  • Improved Business Agility.
  • Reduced Costs and Higher Revenues. 
  • Higher Efficiency. 
  • Better Visibility. 
  • Compliance, Safety, and Security.

Why should you consider adopting a BPM Suite in your organization?

Using BPM, organizations can align operations with customer needs and ensure that resources are deployed, monitored, and measured effectively. With the right settings and environments, BPM can maximize efficiency and productivity, reduce costs, and limit errors.

How to Optimize Oracle Business Process Management Using Oracle E-business Suite?

With Oracle eBusiness Suite, enterprises today can easily improve business processes and automate processes. To ensure that you can easily integrate your ERP, CRM, and SCM processes with your EBS suite, make sure your other business applications can be easily integrated.

What is Oracle E-Business Suite?

 Oracle’s application suite (also known as EB-Suite) includes ERP, CRM, and supply chain management (SCM).

Oracle’s E-Business Suite (EBS) is a comprehensive set of business applications designed to help you manage and automate business processes. Oracle’s E-Business Suite is a major product line. A vendor’s integrated suite of business applications for automating customer relationship management (CRM), enterprise resource planning (ERP), and supply chain management processes within an organization is known as Oracle EBS.

Why Oracle?

Oracle Corporation (Oracle) offers a broad range of information technology solutions. Having a broad product portfolio, cloud business, and strategic acquisitions is likely to boost growth for the company. Several types of reporting and analysis are supported by Oracle R12 (a version), including Finance, Supply Chain, Project Management, Product Life Cycle Management, Sales and Marketing, and Human Resources.

What makes Oracle different from its competitors

The database and backend of Oracle are very good. The company does have a good market in the middle east and does decently in North America. Its financial modules have been honored by its clients several times, which has paved the way for developing new modules.

How did Oracle build its empire?

Over the last decade, the company has acquired a wide range of technologies related to its core business. PeopleSoft is one of Oracle’s human resource products. PeopleSoft is one of Oracle’s human resource products. A second Oracle product is Siebel CRM. Because of its excellent acquisition strategy, Oracle has a substantial market presence. Both current clients and prospective customers have found this to be profitable.

What do you mean by Oracle Apps?

Oracle Applications are applications that assist you in running enterprise businesses, such as Accounting, Human Resources, or Financials. However, Oracle Applications Server is a technology that is installed on servers and integrates with other software in order to work. Middleware is another name for it.

Why so Many Modules?

There are different requirements and needs for every business enterprise. High-tech manufacturing and consulting firms will have very different procurement needs. Neither a single product nor a single solution can solve every problem. Because of this, EBS includes both manual and automated features. Sometimes, software vendors are bundled together to create a customized product that is right for your organization.

In this regard, companies can choose the combination that best suits their business processes since each application is licensed separately.

Here are some of the major Modules –

  • Oracle HRMS
  • Oracle Payroll
  • Oracle CRM
  • Oracle Financials
  • Oracle Mobile Supply Chain Management
  • Oracle Order Management
  • Oracle Procurement
  • Oracle Project Portfolio Management
  • Oracle Quotes
  • Oracle Transportation Management
  • Oracle Enterprise Asset Management
  • Product Life Cycle Management
  • Manufacturing

The features available for optimization in Oracle EBS, the innovations within its platform

There are several noteworthy product lines within the suite that can be applied by the user to their respective businesses. 

By referring to Oracle EBS, one is actually referring to an entire set of enterprise management software modules. Some of the most popular include:

Oracle Enterprise Resource Planning

E-Business Suite (EBS) is a suite of Enterprise Resource Planning (ERP) applications. By using these applications, organizations can analyze and upload data from a single source of authenticity. Moreover, ERP modules assist companies in improving collaboration and reducing costs, facilitating various control projects for them. With advanced control solutions like compliance management, Oracle Risk, and Governance Businesses, this is possible. 

With Oracle ERP, you’ll be able to achieve highly acclaimed agility and resilience. Further, it will foster consistent growth and facilitate a quick business model and process adaptation. This allows users to improve and sharpen forecasts, reduce costs, and embrace innovation.

Oracle Customer Relationship Management

Oracle CRM (Customer Relationship Management) includes a number of applications that enable information-driven marketing, sales, and service. With Oracle CRM, businesses can increase customer loyalty among existing customers as well as find new customers.

Oracle CRM’s basic functionalities include contracts, order capture, marketing, field service, and call center operations. In addition, the application provides some internet-based features such as catalog management, quote and order management, and content management.

Following the acquisition of Siebel in 2006, Oracle’s E-Business Suite CRM offering significantly improved. With the package, firms now have a single source of truth/authenticity for all of their CRM processes. With the help of business intelligence applications, businesses can improve their relationships with customers.

In addition to being standards-based, Oracle CRM has an open structure. It enhances the quality of business data and streamlines business processes. Therefore, all key divisions can draw information from the same data source. The Oracle CRM program can help your company achieve customer success through accurate information, one of the best tools available.

Oracle Supply Chain Applications

Oracle EBS provides supply chain applications to Fortune 50 companies all over the world. With Oracle Supply Chain Applications, the company can stay flexible and innovative in the face of unpredictable product supply and marketing cycles. As well as, the company can optimize operations across global networks. Offerings from Oracle include supply management, demand development, product development, and transportation management.

Oracle’s supply-chain management software gathers all the necessary feedback on products and services. This includes design, production, quoting, and customer service. It aims to find real insights from the vast quantities of data produced.

In addition to Order and Price Management, supply chain management modules are also available. EBS consists of all of these components, in addition to assisting with other areas such as asset lifecycle management, procurement, and manufacturing. 

When using the  Inventory Management solution, inventory counting can be done in hours instead of weeks. With this solution, physical inventory and cycle count data can be captured directly from mobile tablets through Oracle EBS’s management process.

Tablet mobile devices can also be used for shipping confirmations, subinventory transfers, picking and booking products, and more. This mobile solution helps workers gain incredible efficiencies from the warehouse floor by cutting their processing time. The EBS system immediately updates all updates and changes on mobile devices.

Oracle Human Resource Management System (HRMS)

Companies can manage the recruitment-to-retirement process more efficiently by using Oracle Human Resource Management System. In this application, users can keep track of HR activities in real-time, including recruiting, training, time management, payroll, and compensation. As part of the Oracle E-Business Suite apps, the HRMS suite incorporates full integration with other Oracle apps and provides users with an analytical package that simplifies the extraction of HR data.

An organization can use this system to perform preventative and predictive analyses of its workforce and to maintain its productivity. As a result, satisfied employees and workers will perform at a high level. In addition, the HRMS ensures that any employee grievances are addressed promptly. Thus, the management will have time to come up with a solution to end these grievances.

Oracle Financials

Finance modules in Oracle EBS include General Ledger, Fixed Assets, Financial Analyzer, Cash Management, Treasury, Receivables, Payables, and Property Management, along with a self-service expense module. Financial management is made faster and more accurate with Oracle EBS Finance modules. Therefore, the company reduces costs, increases profits, and enhances its reputation among investors, shareholders, and customers.

The application enables employees to submit their expense reports, which are automatically sent to their managers for approval, directly to their company’s EBS system.

Conclusion

Oracle-E Business Suite has numerous modules that are integrated to manage enterprise organizations. Businesses can utilize these apps for a wide range of business processes. It also provides industry-specific solutions, reducing the time and resources required to implement custom solutions. R Personify provides a complete range of mobile, chat, and automation capabilities.. By implementing these solutions, businesses can configure business processes that improve and enhance the effectiveness of their operations.

Thank you for taking the time to read our detailed EBS review. If you have any questions, do not hesitate to get in touch with us and our experts.