The annual OpenWorld conference sees Oracle announce artificial intelligence updates to Enterprise Resource Planning (ERP) Cloud and Enterprise Performance Management (EPM) Cloud, adding a further layer of machine learning-based improvements.
According to the company, the latest addition of AI smarts delivers "rapid, data-driven insights," allowing customers to embrace new business models, capitalise on new market opportunies and increase profitability. It also says 5500 organisations in 85 countries and 23 industries make use of ERP Cloud, with customers including the likes of Bank of America, L.A. Lakers, Office Depot, Caesars Entertainment, Cleveland Clinic, Western Digital and Mount Sinai Health System.
Oracle ERP Cloud allows organisations to take advantage of AI, digital assistants, natural language processing, blockchain and the Intnernet of Things. The latest updates include Intelligent Process Automation, with seamless integrations across Oracle Cloud Applications of intelligent rules-based processing and an Expense Reporting Assistant able to process expenses with greater efficency and accuracy, allowing for simpler expense reports for end users.
Further features include Intelligent Payments (uses in-the-moment supplier profile and risk data to generate vendor-specific offers in exchange for early payment of outstanding payables), Supplier Recommendations (combines ERP application data on suppliers, purchase orders, invoices, payables, and other details with external sources of data to glean insight into company supplier ecosystems), Intelligent Performance Management (uncovers data patterns to deliver insights at the right time) and Advanced Access Controls (embedded AI constantly examines all users, roles and privileges against a library of active security rules).
“Oracle is uniquely positioned to help customers connect data and processes across the entire organization to drive better business outcomes,” the company says. “Our focus on delivering immediate business impact from the latest innovations gives customers a significant competitive advantage.”
