Wednesday, 11 August 2021 18:02

Oracle updates Fusion Cloud Procurement


Reflecting many businesses' plans to reduce costs, Oracle has updated its Fusion Cloud Procurement product.

Oracle Fusion Cloud Procurement is part of Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) and Oracle Fusion Cloud Enterprise Resource Planning (ERP).

It is designed to help customers minimise risk, reduce costs, enforce compliant spending, and simplify supplier management and contracting.

The latest updates include:

Complex Procurement – Helps ensure that contractors and subcontractors comply with negotiated payment terms, and provides transparency into services spend across payment milestones.

Spend and Procurement Analytics – Gives customers a holistic view of procurement and supplier performance across the entire organisation, helping drive cost savings and efficiency.

Spend Classification – Provides better understanding of spending patterns, while reducing human error by using machine learning to organise spend data into logical categories.

DataFox Supplier Intelligence – Helps verify supplier data during onboarding and delivers risk indicator scores. AI and machine learning capabilities within Oracle DataFox Data Management can deliver current and accurate supplier profile data and risk indicator insights, according to Oracle.

Supplier Qualification Management – Helps make a complete and accurate assessment of supplier capabilities, environmental compliance, and risk.

Project-Driven Supply Chain – Aimed at customers in asset-intensive industries such as manufacturing, Project-Driven Supply Chain enables customers to consolidate, capture, invoice, and capitalise project-driven material, manufacturing, and maintenance costs, and thereby control project risk with end-to-end planning, execution, and visibility.

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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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