Artificial intelligence can help businesses and organizations operate more efficiently, productively and profitably by automating a variety of tasks. Oracle is helping companies take advantage if AI by updating its Enterprise Resource Planning (ERP) Cloud and Enterprise Performance Management (EPM) Cloud with the latest machine learning-based innovations. Businesses can use these resources to more successfully utilize digital assistants, natural language processing, blockchain, and the Internet of Things
“Oracle is uniquely positioned to help customers connect data and processes across the entire organization to drive better business outcomes,” says Rondy Ng, senior vice president, Oracle Applications Development. “Our focus on delivering immediate business impact from the latest innovations gives customers a significant competitive advantage.”
Oracle ERP Cloud helps organizations of all sizes quickly and easily take advantage of the latest innovations in artificial intelligence, digital assistants, natural language processing, blockchain, and the Internet of Things to enable enhanced productivity, reduced costs and improved controls.
The latest innovations within Oracle ERP Cloud include:
- Intelligent Process Automation: Seamless integrations across Oracle Cloud Applications of intelligent rules-based processing enable the automation of labor-intensive tasks and allow organizations to redeploy employees to more strategic and rewarding work.
- Expense Reporting Assistant:A new chatbot assistant improves controls and audit compliance by processing expenses with greater efficiency and accuracy, while also simplifying expense reporting for end users.
- Intelligent Payments:New artificial intelligence capabilities enable organizations to reduce costs and build stronger relationships with top suppliers by taking advantage of in-the-moment supplier profile and risk data to generate vendor-specific offers in exchange for early payment of outstanding payables.
- Supplier Recommendations:Smart, multi-factor categorization and ranking of suppliers help optimize the procure-to-pay process. By combining ERP applications data about suppliers, purchase orders, invoices, payables, and other details with external sources of data, businesses can gain unparalleled insight into their company’s supplier ecosystem.
- Intelligent Performance Management:Embedded artificial intelligence capabilities in Oracle Enterprise Performance Management Cloud can uncover hard-to-spot data patterns to deliver actionable and contextual insights at the right time, helping improve the quality and business impact of financial and operational decisions.
- Advanced Access Controls: Advanced Access Controls embed artificial intelligence to constantly examine all users, roles, and privileges against a library of active security rules. This include more than 100 best practices (configurable rules) across general ledger, payables, receivables, and fixed assets to help protect business data from insider threats, fraud, misuse and human error.