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The Ultimate Guide to Oracle Cloud Enterprise Resource Planning (ERP)
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The Ultimate Guide to Oracle Cloud Enterprise Resource Planning (ERP)

April 21, 2023
 / 
by 
Aakanksha Dixit

According to Gartener, Cloud-based ERP solutions like Oracle Cloud ERP are growing at 10.5% CAGR. This is driven by digital transformation needs. 

Did you know? Oracle Cloud ERP reduces financial close time by 50%, improves order fulfillment by 35%, and increases project delivery success rates by 50%. That’s major.

Oracle Cloud Enterprise Resource Planning (ERP) is a Cloud-based software solution that is utilized by major businesses across the globe. It helps businesses automate and streamline financial, supply chain, and human capital management processes. 

 Oracle Cloud was first introduced in 2012 and has evolved into a comprehensive suite of tools. Enables organizations to operate more efficiently and effectively in today's digital age.

Features of Oracle Cloud ERP

One of the distinguishing features of Oracle Cloud ERP is its ability to integrate seamlessly with other Oracle Cloud applications, namely Customer Experience (CX) and Enterprise Performance Management (EPM). This creates a fully integrated cloud-based enterprise software ecosystem.

Major features of Oracle Cloud ERP include Financial Management, Supply Chain Management, Human Capital Management, Project Management, and Governance, Risk, and Compliance. 

These elements allow organizations to manage their financial operations, procurement and inventory, workforce management, project delivery, and compliance requirements all in one place. It  provides a holistic view of the organization's performance and enables better decision-making.

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Oracle Cloud ERP Modules

Oracle Cloud ERP consists of several modules that provide comprehensive business management solutions. These modules include:

  1. Financial Management: This module automates financial processes such as accounting, general ledger, accounts payable and receivable, cash management, and fixed assets. 
  2. Supply Chain Management: Helps businesses optimize their supply chain operations, including procurement, inventory management, and order fulfillment. 
  3. Human Capital Management: Streamlines HR processes such as talent acquisition, performance management, payroll, and benefits administration. 
  4. Project Management: Enables businesses to manage their project lifecycles, from planning to execution and delivery.
  5. Governance, Risk, and Compliance: Businesses ensure compliance with regulatory requirements and manage risk. 

These modules have been recognized by industry experts for their capabilities, helping organizations improve efficiency, reduce costs, and drive growth.

Fact File

  • According to a survey conducted by Oracle, 68% of finance professionals who implemented Oracle Cloud ERP reported an increase in productivity and efficiency.
  • A report by Aberdeen Group found that businesses that use Oracle Cloud ERP for supply chain management saw a 15% reduction in operating costs and a 17% increase in on-time delivery.
  • Oracle's HCM Cloud has been recognized as a leader in Gartner's Magic Quadrant for Cloud HCM Suites for Midmarket and Large Enterprises for five consecutive years.
  • Oracle Cloud ERP's project management capabilities have been recognized by Gartner as a leader in the Magic Quadrant for Cloud ERP for Product-Centric Enterprises.
  • According to a survey by Oracle, 84% of organizations using Oracle Cloud ERP reported improved compliance.

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Real Word Examples: Success With Oracle Cloud

Zoom succeeded with Oracle Cloud Infrastructure due to its advantages in performance, scalability, reliability, and superior cloud security. The company was able to quickly scale its services to accommodate the surge in users during the COVID-19 pandemic. This was thanks to Oracle's pioneering use of off-box network virtualization, which improved performance and lowered costs. Oracle Cloud Infrastructure's highly secure architecture provided Zoom with the necessary security controls and protections to safeguard its users' data and privacy. 

Overall, Zoom's partnership with Oracle Cloud Infrastructure has been massively  successful in delivering high-quality video conferencing services to millions of users worldwide while ensuring the security and reliability of the platform.

Source: https://www.statista.com/chart/21906/zoom-revenue/

FedEx standardized over 220 operations and now uses 40+ Oracle Cloud applications, including Oracle Digital Assistant and OCI Integration Services for automation. With over 3,000 employees using Oracle Analytics Cloud, FedEx has achieved a 2X faster speed to market and significantly cut manual effort in digital operations. The company also virtualized its software deployment and training model, enabling the successful virtual deployment of nine new local instances of Oracle Cloud ERP during the COVID-19 crisis with no disruptions to timelines.

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Oracle Cloud brought Deutsche Bank major savings. The platform is expected to save the bank low triple-digit millions of euros in costs over the next three to five years. Oracle Exadata Cloud@Customer database services is expected to deliver more than 50% in energy savings. This is due to the efficient running of databases on Exadata machines. The Cloud@Customer arrangement lets Deutsche Bank keep control of customer data. While Oracle Advanced Customer Services manages database upgrades and migrations, delivering lower network latency and personalized and proactive lifecycle management support. Deutsche Bank is driving the internalization of its technology talent, aiming for engineers to make up over half of the bank's technology organization by the end of 2022.

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Why Choose Automation Testing for Oracle Cloud?

Oracle Cloud ERP requires testing. It can be done manually or automated.

Automation testing is crucial for Oracle Cloud ERP. It provides numerous benefits over manual testing. One of the primary advantages is the speed and efficiency it brings to the testing process. Automated tests can be run much faster than manual tests, which can save organizations significant amounts of time and money.

According to a report by Capgemini, automation testing can reduce the testing time for ERP implementations by up to 40%, leading to significant cost savings for businesses. It reduces the risk of human error and increases the reliability and accuracy of the testing process. This is important in the case of ERP systems, which are complex and critical for business operations.

Automation testing helps organizations to achieve continuous testing, which is essential for rapid and agile software development cycles. It allows for the early detection of defects.

In contrast, manual testing is time-consuming, prone to errors, and lacks the scalability of automated testing. It also limits the ability to perform regression testing, which is critical in ERP systems where even small changes can have significant downstream impacts.

Automation testing is essential for Oracle Cloud ERP due to its ability to increase efficiency, reduce costs, and improve the quality and reliability of the testing process. Manual testing, on the other hand, is inefficient, prone to errors, and lacks the scalability required for modern ERP systems.

Opkey: The Game Changer For You!

Opkey is a user-friendly, no-code, test automation platform designed to streamline and simplify testing for Oracle Cloud ERP. We offer comprehensive testing capabilities, use AI-powered automation, and have a proven track record of improving deployment quality while reducing testing costs. We are ideal for organizations looking to improve testing efficiency and reduce manual efforts.

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FAQs

Oracle Cloud Enterprise Resource Planning (ERP) is a cloud-based software suite that enables organizations to streamline their business processes and improve efficiency. Oracle Enterprise Resource Planning Cloud includes a suite of applications for managing financials, procurement, project management, and more.

Oracle Cloud ERP is a cloud-based system, which means that it is hosted on remote servers and accessed via the internet, while on-premise ERP systems are installed locally on a company's own servers. Oracle ERP Cloud systems typically offer more flexibility, scalability, and accessibility than on-premise systems.

Oracle Cloud ERP includes a range of modules, including financials, procurement, project management, human capital management, supply chain management, and more. Each module is designed to help organizations streamline specific business processes.

Oracle Cloud ERP can bring a range of benefits to businesses, including improved efficiency, better visibility into business processes, reduced costs, and more. By streamlining processes and automating tasks, organizations can focus on growth and innovation.

Oracle Cloud ERP serves a range of industries, including manufacturing, retail, healthcare, financial services, and more. Its flexibility and scalability make it suitable for organizations of all sizes and industries.

Oracle Cloud ERP is built with security in mind and includes a range of security features to protect data and prevent unauthorized access. These features include data encryption, access controls, and threat detection.

Yes, Oracle Cloud ERP can integrate with a range of other software systems, including customer relationship management (CRM) software, supply chain management (SCM) software, and more. This allows organizations to streamline their entire business process and improve efficiency.

Oracle provides a range of training and support resources for users of Oracle Cloud ERP, including online training courses, user guides, and a support portal. Additionally, Oracle offers customer support services to help resolve any issues that may arise.

Yes, Oracle Cloud ERP can be customized to meet specific business needs. This customization can include adding new fields, modifying workflows, and creating custom reports.

To get started with Oracle Cloud ERP, you can sign up for a free trial or contact an Oracle representative to discuss your specific business needs. From there, you can work with Oracle to set up your system and begin using its features to streamline your business processes.

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