The past 12 months delivered a new phase of finance transformation—AI-driven finance. This paradigm shift represents much more than a technological upgrade; it enables finance leaders to fundamentally reimagine how the finance function operates.
With the addition of new predictive, generative, and agentic AI capabilities, strong customer momentum across every industry, and consistent accolades and validation from analysts, Oracle Fusion Cloud Enterprise Resource Planning (ERP) continues to set the standard for SaaS ERP systems.
As 2024 comes to a close, it’s rewarding to reflect on all the progress we’ve made across Oracle Cloud ERP this past year.
Innovation That Matters
We announced new AI agents within Oracle Cloud ERP that help customers work more efficiently by fully automating end-to-end business processes. Some of these new agents included a document IO agent to improve data capture and transaction processing; a ledger agent to spot anomalies and monitor and analyze account balances; and an advanced prediction agent that improves forecasting accuracy.
We also announced new generative AI capabilities within Oracle Cloud ERP designed to help customers optimize finance processes and support their unique industry and competitive needs. Some of these new innovations included generative AI for insight narratives, management reporting narratives, predictive forecast explanations, project program status summaries, and project plan and proposal generation.
Other updates include Oracle Fusion Cloud Sustainability, which enables customers to accelerate progress on sustainability initiatives, and Oracle Cloud Federal Financials, a purpose-built solution that enables federal agencies to automate finance processes and leverage embedded AI to increase productivity and enhance the quality of services.
What the Experts are Saying
This past year, Oracle was once again named a Leader in three Gartner reports assessing financial capabilities: the 2024 Gartner® Magic Quadrant for Cloud ERP for Service-Centric Enterprises, the 2024 Gartner® Magic Quadrant for Cloud ERP for Product-Centric Enterprises, and the 2024 Gartner® Magic Quadrant™ for Financial Planning Software.
In each of these reports, Oracle was recognized as a Leader for its “Ability to Execute” and “Completeness of Vision” for Oracle Cloud ERP, which we believe underscores our stability, longevity, and commitment to delivering the new innovations our customers have come to expect.
It’s not just Gartner recognizing Oracle Cloud ERP; other analysts and industry experts have also called out Oracle Cloud ERP’s unique differentiators when it comes to AI.
“Oracle already has a lead in traditional AI and is now taking the lead on generative AI with its AI agents as the only ERP vendor to use its own cloud infrastructure for its applications,” said Holger Mueller, vice president and principal analyst for Constellation Research.
“Oracle Cloud ERP is the most complete multitenant SaaS suite, bolstered in recent years with dozens of AI apps and a new user interface. What’s more, Oracle underpins its applications with AI-infused Oracle Cloud Infrastructure (OCI) and cloud versions of its flagship Oracle Database,” said David Essex of TechTarget.
Customer Success and Growing Adoption
Almost 11,000 organizations spanning nearly every industry and geography turn to Oracle Cloud ERP applications to run their businesses.
Over the past year, Oracle Cloud ERP customers across all sectors have shared their successes and innovative approaches to solving key business challenges using our solutions.
For example, one of the largest life insurers and a leading provider of employee benefits in the United States, Guardian, was able to increase productivity, reduce costs, expand insights, and enhance decision-making with Oracle Cloud ERP.
“We have been able to expand insights, accelerate our financial close, and increase efficiency. With our core financials in the cloud and a complete view of our data, we can embrace Oracle’s embedded AI capabilities to further increase productivity,” said Marcel Esqueu, vice president, financial systems transformation, Guardian.
Similarly, DHL Supply Chain, a world-leading logistics provider with around 17 million square meters of warehouse and operational space in more than 1,500 locations worldwide, was able to optimize its global operations.
“With Oracle Cloud ERP, we have transformed our accounting services by standardizing financial processes across 40+ countries to improve efficiency, reduce cost, and accelerate decision-making,” said Dietrich Franz, Chief Financial Officer, DHL Supply Chain.
Ocado Retail, the world’s largest dedicated online supermarket with over 961,000 active customers, was able to streamline business processes and improve decision-making insights to support its growing customer base with Oracle Cloud ERP.
“With Oracle Cloud ERP’s automation capabilities, controls, and data insights, we can focus more time on our mission to change the way people shop for their groceries and ultimately make our customers’ lives easier,” said Rebecca Burn, Oracle systems manager, finance, Ocado Retail.
Hearst, one of the world’s largest information, services, and media companies, was able to improve supplier relations and reduce costs by automatically presenting suppliers with proposals for early payment in exchange for discounts using Intelligent Payment capabilities in Oracle Cloud ERP.
“We were able to achieve 20 percent in cost savings within our finance function over the past two years with increased use of AI for dynamic discounting capabilities,” said David Hovstadius, SVP of Finance Operations at Hearst.
Finally, SingPost, a leading e-commerce logistics provider in Asia Pacific, serving customers in more than 220 global destinations, was able to increase efficiency, broaden insights, and optimize costs with Oracle Cloud ERP.
“The integrated suite of solutions within Oracle Cloud offers a platform for us to increase operational agility, improve decision-making, and better fulfill our customers’ needs,” said Noel Singgih, Group Chief Information Officer, SingPost.
Finance will continue to be redefined as more organizations join our community of innovators and embrace touchless operations, predictive insights, and connected actions to enhance productivity and drive unparalleled value.
We’re proud to be a driving force behind this new era of AI-powered business and remain committed to continuous innovation and our customers’ success.
I want to close this year by formally thanking our customers for choosing Oracle Cloud ERP and supporting our vision for AI-driven finance.
