The Total Guide to Oracle ERP
In this guide, we cover everything you need to know about Oracle ERP including market-fit, pricing, features, and comparisons.
We’ve also paired this article with a free e-Book to help companies bridge the gap between their ERP and AP processes. Download “The Last Mile of ERP – Payables Transformation Strategies.”
What is Oracle ERP?
Oracle ERP system is comprehensive software for managing business processes and functions, real-time reporting, business intelligence, and business decisions. Oracle ERP Cloud SaaS software provides advanced Generation 2 public cloud capabilities, including an advanced intelligent voice user interface (UI). Oracle continues to offer on-premises ERP software.
Oracle Cloud ERP software applications include:
- Oracle Financials cloud
- Project Management
- Procurement cloud
- Risk Management
- Enterprise Performance Management (EPM)
- Supply Chain Management (SCM)
- Adaptive Intelligent Apps for ERP
- Analytics for Cloud ERP.
In ERP 2.0 (Generation 2), which enables the latest technology, security, and best practices, human capital management (HCM) or human resources is outside the ERP system. Oracle Fusion middleware is the digital platform working with cloud applications in Oracle ERP and other Oracle software solutions.
Either Oracle Sales Cloud (Oracle’s #2 rated CRM) or Salesforce (#1 rated CRM), for customer relationship management and customer experience (CX), integrate with Oracle ERP Fusion.
Which Types of Businesses Use Oracle ERP?
Businesses in many industries use Oracle ERP. Oracle ERP is a top-tier ERP system used by large global enterprise companies with big budgets.
Innovative companies seeking the latest technology applications providing real-time business intelligence for decision-making and taking action steps, choose Oracle ERP on cloud.
Manufacturers using a wide range of production methods use Oracle Cloud ERP. The cloud solution works for discrete product manufacturing, process manufacturing, mixed-mode manufacturing, and project manufacturing. The Oracle Cloud ERP system uses generation 2 cloud technologies, including the Internet of Things (IoT) with sensors, computer vision, machine learning (ML/AI), and an intelligent voice digital assistant. Oracle Cloud ERP can alert when manufacturing defects or deviations from standards occur early enough during manufacturing to take action. These software tools save substantial costs and enhance enterprise performance.
Global publicly-held businesses whose financial management needs to understand and communicate results, perform financial planning with multiple scenarios, and bid on M&A deals, use Oracle Cloud ERP.
How Much Does Oracle ERP Cost?
Oracle ERP pricing for cloud is a software-as-a-service cost that depends on the Oracle ERP applications selected and number of users. It’s a top-tier system. Add other Oracle SaaS or usage costs to run Fusion Cloud Applications. Oracle’s Cloud Cost Estimator builds the monthly cost of Oracle ERP online. Consult the Oracle sales department for recommended software products and a custom quote. Add ERP implementation, consulting, Oracle ERP training, services, and third-party add-on software to estimate total Oracle ERP cost.
How Does AP Automation Software Integration Work With Oracle ERP?
AP automation software seamlessly integrates with Oracle ERP software. Tipalti is an automated payables and payments SaaS add-on that streamlines accounts payable workflow and reduces fraud. Oracle ERP integration with Tipalti uses a flat-file connection, which works particularly well for efficient global mass payments. Users access Tipalti through the Oracle Cloud ERP login and UI.
What Are The Primary Features and Advantages of Oracle ERP?
• Generation 2 cloud
• Intelligent digital voice assistant user interface (UI)
• Embedded technology including AI, IoT, and blockchain
• Scenario analysis for planning and management
• Global chart of accounts
• Open Connectivity to any data source
• Excellent real-time reports and dashboard visualizations
Gen 2 cloud capabilities enable Oracle digital voice assistant UI and other technology. The intelligent digital assistant uses AI, with machine language and natural language processing (NLP) to send results from voice queries and system-generated alerts to the user’s smartphone.
Oracle ERP Cloud has built-in business intelligence and analytics features, including real-time KPI dashboards. For financial management, it offers financial planning with multiple scenarios, voice queries, automatic real-time drill-down to details to determine where variances between plan and actual results occur.
Oracle ERP software includes state-of-the-art accounting for accounts receivable, payables, inventory management, revenue management, global chart of accounts, general ledger, and financial reporting.
How to Implement & Use Oracle ERP?
Find an experienced and certified Oracle consultant to help your business implement Oracle ERP. View an Oracle ERP tutorial. Oracle University offers training and certifications to implement and use Oracle ERP solutions and applications. Oracle Support includes resources and optional Oracle Advanced Customer Services. Oracle Help Center contains a knowledge base.
Which ERP Systems are Comparable to Oracle ERP?
SAP
Both Oracle and SAP target the largest companies for their high-priced ERP systems. Whereas Oracle ERP and all other applications are available on the Oracle Fusion Cloud platform with advanced Generation 2 Cloud features, including machine learning and a digital voice UI (or on-premises), the SAP ERP system is solely offered on-premises and uses 35-year old code not rewritten for the cloud, per Oracle co-founder, Chairman, and CTO, Larry Ellison in his presentation, Fusion Cloud Applications at Oracle OpenWorld 2019.
Workday
Oracle ERP and Workday ERP compete in the enterprise company market. Like Oracle Fusion Cloud applications (including Fusion cloud ERP), Workday’s modern ERP system and other applications were written for the cloud.
