Oracle updates fusion cloud procurement

To help customers improve operational efficiency and reduce costs, Oracle introduced several significant updates to its procurement solution.

Oracle fusion cloud procurement is a software suite that handles an organisation’s whole source-to-settle cycle. It is part of Oracle’s fusion cloud supply chain and manufacturing and Oracle fusion cloud enterprise resource planning. It is designed to assist clients in reducing risk, lowering costs, enforcing compliance spending, and streamlining supplier management and contracting.

The recent updates include –

Complex procurement that assists organisations in procuring services and managing risk by ensuring that contractors and subcontractors adhere to agreed-upon payment conditions. It also gives visibility into service cost across payment milestones, which is only achievable with a comprehensive, end-to-end suite of apps.

Spend and procurement analytics gives customers a holistic view of procurement and supplier performance across the entire organisation. It helps drive cost savings and efficiency by enabling users to view key spend metrics within a single dashboard—without complex data integration.

Spend classification helps procurement professionals better understand their organisation’s spending patterns and gain an accurate overview of buying activity. It can remove manual effort and reduce human error by using machine learning to organise spend data into logical categories.

DataFox supplier intelligence helps customers verify supplier data during onboarding and gain real-time insight into supplier health through alerts, as well as risk indicator scores. By using data generated by the AI and machine learning capabilities within Oracle DataFox data management, DataFox supplier intelligence can deliver current and accurate supplier profile data and risk indicator insights.

Supplier qualification management helps customers comprehensively assess their suppliers. It will help customers make a complete and accurate assessment of supplier capabilities, environmental compliance, and risk.

Project-driven supply chain is an end-to-end capability that helps customers in asset-intensive industries such as manufacturing control project risk with end-to-end planning, execution, and visibility.

Rick Jewell is the senior vice president, applications development, Oracle

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