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Technology Oracle applies the lessons of the pandemic to update Fusion Cloud Applications

17:06  25 march  2021
17:06  25 march  2021 Source:   techrepublic.com

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logo: Oracle applies the lessons of the pandemic to update Fusion Cloud Applications © TechRepublic Oracle applies the lessons of the pandemic to update Fusion Cloud Applications

Oracle says it is using artificial intelligence, augmented reality and voice commands to help customers better integrate front and back-office applications. Steve Miranda, executive vice president of application development, hosted an event March 24 that highlighted new features and customer experiences with the company's Fusion Cloud applications.

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Catherine You, vice president of product development at Oracle, showed off the augmented reality capabilities in a demo that illustrated the decision-making process behind a customer request for a bigger line of credit.

You started the demonstration with "Hey, Oracle," to ask the company's new digital assistant to display the data. The virtual assistant pulled up the top 10 deals of the quarter, an annotated report from finance and a revenue forecast and projected the information in a 3D display. You assessed the customer's request while talking with a colleague in a video chat window.

"We are using AR combined with the cloud and business analytics to create a virtual collaborative workspace," she said.

Customers can use the digital assistant to get transaction and other financial information using voice commands. You said that another new feature is continuous forecasting that uses machine learning to generate predictions continually.

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Miranda said that these enhancements to Oracle's cloud services are based on these lessons learned from the experiences of the last 12 months about what customers need:

  • Better risk management for supply chain
  • Real-time financial information to adapt to rapid change

  • Accelerate the digital-first experience

Miranda said that the goal for Oracle's cloud products is to help customers build agile organizations that prioritize continuous improvement and use artificial intelligence to generate predictions and recommendations in real time.

Miranda also emphasized the deep integration of front office and back-office tasks as well as across departments.

Completing cloud migrations during the pandemic

During the event, leaders from Marriott International and Vanguard shared their Oracle cloud migration experiences.

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Karen Nelson, senior vice president of HRIS and compensation at Marriott International, led an Oracle implementation that went live in December 2020. She said that the team was about 100 days from launch when the pandemic hit. Nelson paused the project for four months before resuming the work with a smaller and all-remote team. She said the company's legacy infrastructure systems were nearing the end of the life cycle.

Marriott launched multiple modules globally including HR, payroll, learning, recruiting and incentive compensation.

"We launched in 15 languages and for some employees, it was the first time they had been able to interact with HR tools and programs," she said.

Miranda also talked with John Bendl, the chief accounting officer and fund CFO at Vanguard. The company also started a cloud migration with Oracle before the pandemic hit with the goal of modernizing ERP and procurement operations.

Bendl said one of the biggest improvements has been the ability to see data from all finance functions in one place.

"With the procurement modules, it used to require multiple clicks in many systems and now it is one click," he said.

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Bendl said that having all the relevant data in one place has improved the decision-making process and replaced manual processes previously required to combine data from multiple sources.

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