AUSTIN, Texas, May 13, 2021 /PRNewswire/ -- Oracle Fusion
Cloud Enterprise Resource Planning (ERP) has been named a Leader in
2021 Gartner "Magic Quadrant for Cloud Core Financial Management
Suites for Midsize, Large and Global Enterprises" for the fifth
consecutive year. Of the 10 products evaluated, Oracle is placed
highest for its ability to execute and is placed furthest to the
right for completeness of vision. A complimentary copy of the
report is available here.
According to the report, "Leaders demonstrate a market-defining
vision of how core financial management systems and processes can
be supported and improved by moving them to the cloud. They couple
this with a clear Ability to Execute this vision through products,
services and go-to-market strategies. They have a strong presence
in the market and are growing their revenue and market share. In
this market, Leaders show a consistent ability to secure deals with
enterprises of different sizes and have a good depth of
functionality across all areas of core financial management. They
have multiple proofs of successful deployments by customers, both
in their home region and elsewhere. Their offerings are often used
by system integrator partners to support financial transformation
initiatives. Leaders typically address a wide market audience by
supporting broad market requirements. However, they may fail to
meet the specific needs of vertical markets or other, more
specialized segments, which might be better addressed by Niche
Players in particular."
In addition, the report states "Gartner's client inquiry data
shows that interest in CCFM suites is increasing significantly.
Many application leaders and senior finance users believe that
moving to the cloud will enable them to easily avoid the challenges
they face with on-premises core financial applications — such as
cumbersome UIs, too much customization and expensive,
hard-to-manage upgrades."
"Our world has been radically altered this past year and our
customers have successfully pivoted against all challenges to
accelerate their finance transformations and modernize their
business processes in the cloud," said Rondy Ng, senior vice president of applications
development, Oracle. "We are privileged to be acknowledged by
Gartner for a sustained half decade of Cloud ERP leadership. We
believe that this validates our product strategy and customer
centricity, our focus on continuous innovation, and
recognizes the confidence our customers place in Oracle Cloud
ERP."
Oracle Cloud ERP is directed towards a vision of touchless
operations, continuous forecasting, and an enhanced conversational
experience. Our machine learning and artificial intelligence
investments in each update are designed to enable CFO's and their
Finance teams to shift from an operational to a more strategic
mindset. Recent innovations include Intelligent Account Combination
Defaulting, Intelligent Performance Management, and additional
digital assistants including an expanded collaboration platform
with Microsoft Teams.
More than 7,700 organizations across a wide range of industries
and regions have adopted Oracle Cloud ERP to drive their finance
transformation. With Oracle's software-as-a-service (SaaS) delivery
model, customers can quickly and easily take advantage of on-going
quarterly innovation updates in artificial intelligence, machine
learning, digital assistants, and analytics, helping businesses get
faster and smarter every 90 days without any downtime or business
disruption.
Oracle Cloud ERP offers a comprehensive set of enterprise
finance and operations capabilities,
including financials, accounting hub,
procurement, project management, enterprise performance
management, risk management, and subscription management.
With native integration to the broader Oracle Fusion Cloud
Applications Suite, including Oracle Fusion Cloud Supply Chain
& Manufacturing (SCM), Oracle Fusion Cloud Human Capital
Management (HCM) and Oracle Advertising & Customer Experience
(CX) applications, Oracle Cloud ERP provides a complete solution to
help customers increase productivity, reduce costs and improve
controls. Oracle Fusion Applications are driven by five tenets
focused on a customer-first mindset, with the industry's most
complete cloud, built on the best technology platform, delivering
the fastest innovation, and a modern user experience for our
customers.
Oracle has garnered consistent industry recognition for its
finance and performance management applications. Oracle was
recently named a Customers' Choice Vendor in the 2021 Gartner Peer
Insights 'Voice of the Customer': Cloud Financial Planning and
Analysis Solutions1. Additionally, Oracle was named a
Leader in October 2020 Gartner
"Magic Quadrant for Cloud Financial Planning and Analysis
Solutions2" and was named the sole Leader in
June 2020 Gartner "Magic
Quadrant for Cloud ERP for Product-Centric Enterprises3"
for the second consecutive year.
Gartner Disclaimer
Gartner does not endorse any
vendor, product or service depicted in its research publications,
and does not advise technology users to select only those vendors
with the highest ratings or other designation. Gartner research
publications consist of the opinions of Gartner's research
organization and should not be construed as statements of fact.
Gartner disclaims all warranties, expressed or implied, with
respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
About Oracle
Oracle offers suites of integrated
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at www.oracle.com.
Trademarks
Oracle, Java, and MySQL are registered
trademarks of Oracle Corporation.
1 Gartner, Gartner Peer Insights 'Voice of the
Customer': Cloud Financial Planning and Analysis Solutions,
11 March 2021
2 Gartner, Magic Quadrant for Cloud Financial
Planning and Analysis Solutions, Robert
Anderson, Greg Leiter,
John Van Decker, 6 October 2020
3 Gartner, Magic Quadrant for Cloud ERP for
Product-Centric Enterprises, Tim
Faith, Duy Nguyen,
Denis Torii, Paul Schenck, Christian
Hestermann, 22 June 2020
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SOURCE Oracle