Oracle ERP Cloud Core Components
The core components of Oracle ERP Cloud are financials, procurement, and project portfolio management (PPM)
Finance has moved out of the back office, playing a vital role in the boardroom as a strategic advisor. Oracle ERP Cloud Finance is a complete and integrated financial management solution with automated financial processing, effective management control, and real-time visibility into financial results. Features include a native multi-dimensional reporting platform, spreadsheet and imaging integration, role-based dashboards and work areas, and integrated social collaboration to provide enterprises with everything they need to make better decisions faster, meet financial compliance requirements, and improve the bottom line.
The Oracle Procurement Cloud enables you to improve spend management, streamline purchasing, and achieve higher margins. It can reduce the manual processes and inefficiencies found in both the transactional and the strategic aspects of enterprise procurement . The transactional aspect of procurement focuses on self service procurement, the ‘procure to pay’ purchasing process and offers a supplier portal. The strategic aspect covered by the Procurement Cloud, includes sourcing, contract management, and compliance. Oracle Procurement Cloud speeds up all of the knowledge transfer involved in the strategic side of procurement by reducing the number of emails, attachments, and phone calls businesses currently use in the process. It does this by introducing social collaboration directly into the application
Project Portfolio Management
PPM enables corporate and business users to organize a series of projects into portfolios and provide reports based on the various project objectives, costs, resources, risks, and other pertinent associations. PPM has six core components, each of which is found in any project undertaken:
- Project costing
- Project contracts and billing
- Performance reporting
- Resource management
- Project management
- Collaborative planning & task management
All of these components flow into the two other components of ERP — procurement and financial management The Oracle PPM Cloud solution solves Project Portfolio Management pain points through role-based analytics, collaboration, optimization, costing, and control. It offers an integrated yet modular project management suite designed to automate, streamline, and control project management processes end-to-end without expensive hardware and system management overhead costs.