Oracle’s pervasive AI strategy delivered via continuous product updates ensures rapid adoption with immediate business results
Oracle announced that it has extended the artificial intelligence (AI) capabilities within Oracle Enterprise Performance Management (EPM) Cloud and Oracle Enterprise Resource Planning (ERP) Cloud.
The latest machine learning (ML)-based innovations allow operations and finance teams to spend more time on strategic initiatives that grow the business by improving accuracy, efficiency and compliance across business processes.
Latest ML-based innovations
The new innovations include:
- Expense Reporting Assistant:This assistant streamline expense report processing by automatically creating, classifying and matching expense items. The users can interact with the assistant through a powerful voice interface, or simply by sending receipt images to the assistant via email, SMS, Slack or Microsoft Teams.
- Advanced Financial Controls:It provides continuous analysis of transactions, setups, and configurations to automate audits and help prevent financial leakage.
- Project Management Digital Assistant:It provides instant project status updates and enables users to update time and task progress using a digital assistant.
- Intelligent Supplier Management: It uses AI techniques to extract dynamic supplier risk signals from news articles and press releases, which are then combined with DataFox’s company data sources to automatically manage supplier risk, by identifying which suppliers are at risk and recommending alternative suppliers.
- Advanced Access Controls: It automates user security analysis using AI techniques to help protect business data from insider threats and fraud.
Immediate business results
Commenting on the development, Rondy Ng, Senior Vice President, Oracle Applications Development, said, “Oracle continues to deliver on the finance innovation promise expected by our customers. 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.”
Oracle ERP Cloud have been selected by over 6,000 organisations of all sizes so that they can quickly and simply take the advantage of latest innovations in AI, digital assistants, blockchain, natural language processing (NLP) and Internet of Things (IoT), for enhancing their productivity, improving controls and to reduce costs.