Oracle Fusion Cloud ERP solution
helps U.S. federal agencies increase efficiency and provide better
services to their constituents
AUSTIN,
Texas, April 25, 2024 /PRNewswire/ -- Oracle
today announced Oracle Cloud Federal Financials,
a purpose-built solution in Oracle Fusion Cloud
Enterprise Resource Planning (ERP) to help federal agencies
increase efficiency, improve resource allocation, and achieve more
with less. The industry-specific solution enables federal agencies
to automate finance processes and leverage embedded AI and
generative AI to help increase productivity, reduce costs, improve
controls, and enhance the quality of services they provide to
constituents.
Many U.S. federal agencies currently work with aging,
disparate systems that keep critical financial data in silos and
limit their ability to effectively implement new policies and
achieve positive mission-oriented outcomes. To overcome these
challenges, federal agencies need a single, integrated financial
management solution that meets federal budgetary accounting
requirements and aligns with the U.S. Government's Cloud Smart
Strategy and M3 Framework.
"Federal agencies continue to face resource constraints, while
feeling pressure to improve service delivery and make a greater
impact for taxpayers," said Rondy
Ng, executive vice president of Applications Development,
Oracle. "With Oracle Cloud Federal Financials, agencies can access
a reliable, integrated, and highly-secure solution to optimize
time-sensitive workflows, help deliver positive mission-oriented
outcomes, and ultimately provide better services for
constituents."
Oracle Cloud Federal Financials helps federal agencies to:
- Automate federal accounting and budget execution
processes: With automated federal accounting, seamless budget
planning and execution, funds control, delinquency processing, and
debt collection capabilities, federal agencies can reduce
redundancies, improve data quality, and streamline finance and
accounting processes.
- Accelerate insights with AI and generative AI driven
automation: With transaction automation, and predictive
insights using embedded AI, generative AI, and machine learning,
federal agencies can reduce the amount of time spent on manual
tasks, accelerate financial reporting, and make more informed
decisions.
- Access integrations with the U.S. Treasury: Via
integration with the U.S. Treasury, federal agencies can securely
and efficiently process intragovernmental transactions and provide
auditable financial reporting files.
- Secure data in dedicated government datacenters: With
access to Oracle's dedicated government data centers that are
FedRAMP and Impact Level authorized, federal agencies can take
advantage of role-based controls and top-to-bottom security
features to help safeguard against cyber-attacks and data
leaks.
- Scale and adapt IT resources: With the ability to
dynamically increase and decrease consumption (cost) based on
mission-critical workload requirements via Oracle Cloud
Infrastructure (OCI), federal agencies have the agility and
scalability for changing needs without compromising performance or
availability.
- Embrace continuous innovation: With Oracle's quarterly
update cycle, federal agencies can adopt hundreds of new features
and capabilities each year to continuously optimize and enhance
finance and operations.
More than 10,000 organizations, across public and private
sectors, turn to Oracle Cloud ERP to run their businesses. 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, subscription
management, supply chain management & manufacturing, and
Oracle B2B, which revolutionizes the way organizations transact,
pay, finance, and ship sustainably across the globe.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please
visit us at oracle.com.
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Oracle, Java, MySQL, and NetSuite are
registered trademarks of Oracle Corporation. NetSuite was the first
cloud company--ushering in the new era of cloud computing.
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SOURCE Oracle