B2B Payments

Oracle Closes Its Cloud Procurement Gaps

As Oracle strengthens its enterprise cloud service offering, the company has launched a slew of new SaaS products as it clamors to take over the market’s current number one player, Salesforce. In a range of new products, Oracle now offers tools from Big Data analytics to eCommerce support.

But in its latest announcement, the technology firm is making it easier for businesses to take advantage of the slew of new products and filling in the gaps to connect each service with one another.

Reports Monday (July 13) said Oracle has introduced two new cloud-based supply chain management products that link existing procurement and order fulfillment tools.

The two new services include the Order Management Cloud and the Global Order Promising Cloud. Together, they offer order management, visibility and order fulfillment capabilities, the company said. But to go a step further, Oracle’s new services connect businesses’ current sales and order processes in its Configure, Price and Quote Cloud product and their current packing and shipping services in the Inventory Cloud product, all to Oracle’s billing in the Enterprise Resource Planning Cloud.

It’s a lot of services that were once fragmented, but according to Oracle, they are now intertwined to let companies manage their sales efforts, from quote to cash, all in the cloud.

“In the past, these difference processes were often siloed, particularly when some elements operated in the Cloud and some did not,” the company said in its announcement. “This made it extremely difficult for companies to create a virtually seamless, transparent business flow, causing significant revenue leakage, high days sales outstanding and customer dissatisfaction. With these two new products in the Oracle Supply Chain Management Cloud, Oracle can now deliver a complete quote-to-cash Cloud solution to drive enhanced customer experience, revenues and margins.”

The new tools let companies take control of fulfillment delivery and timing, manage corporate fulfillment policy and place limits on high-demand products and services to cap how much a buyer can procure. They also provide a single view of orders so managers can oversee order statuses, delivery, customer information and other data. All of these services are now connected directly to Oracle’s cloud-based billing services for enterprise.

According to Oracle Group Vice President of Supply Chain Management and Product Strategy Jon Chorley, the new Order Management Cloud and Global Order Promising Cloud tools offer an end-to-end solution for suppliers, manufacturers and other B2B sellers. “By delivering an enterprise-class order management platform, which is also matched with quoting, sales, fulfillment and billing all in the Oracle Cloud, our customers can deliver uncompromising efficiency, satisfaction and performance,” he said.

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