Oracle announced Wednesday that it is adding new AI and automation capabilities to its Fusion Supply Chain Management (SCM) and Fusion Human Capital Management (HCM) suites to help companies improve efficiency across various departments.
Updates to the SCM suite, now generally available, include AI-based planning tools, an enhanced quote-to-cash process for Fusion applications, and new rebate management capabilities.
According to the company, AI-based planning tools are expected to help companies use machine learning to improve the accuracy of lead-time assumptions across their supply chains.
“This new capability can improve planning efficiency and results by identifying lead-time trends, anomalies, and their potential impact with prioritized actions and suggested solutions. We can,” the company said in a statement.
A new planning tool has been added to the Planning Advisor within Oracle Supply Chain Planning, an application that is part of the company’s SCM suite.
Over the last year, Oracle has gradually added new features to its supply chain suite, including some AI and automation capabilities.
Last February, Oracle introduced machine learning-based ship-time forecasting and real-time supply chain analytics.
In October, the company released a new supply chain management application customized for healthcare companies. This is called Oracle SCM for Healthcare. The new application provides functionality such as new supply chain planning services and provides additional functionality to the Oracle Procurement application to reduce supply chain costs.
Oracle is offering an enhanced quote-to-cash process across all Fusion applications as part of a new update to the SCM suite.
The Quote-to-Cash (QTC) process is part of a company’s sales cycle that constitutes the end-to-end delivery of a product or service. Typical components of the process include sales, account management, order processing, billing, and accounts receivable functions.
According to the company, the enhanced QTC process will help companies centralize subscription orchestration, comply with accounting requirements, improve order management, reduce costs while reducing time to market, and improve the customer experience. Help improve.
“With an integrated solution that connects subscription management (CX), pricing and quote configuration (CX), order management (SCM), and finance (ERP), customers can ) more efficiently and recognize revenue accordingly,” the company said in a statement.
Oracle is adding new rebate management capabilities within the SCM suite to help businesses optimize discounts and promotional campaigns for their customers.
The company said the new feature will automate the rebate management process, adding that automation includes rebate calculation, monetary settlement and processing of customer claims.
This will reduce administrative costs and improve the customer experience, the company said, adding that the new functionality will be delivered as part of Oracle’s Channel Revenue Management application under the SCM suite.
New Updates to Oracle Fusion HCM Suite
In addition to the new updates to the SCM suite, Oracle has announced a new application called Oracle Grow to add even more AI capabilities to the HCM suite.
Chris Leone, Executive Vice President of Application Development for Oracle Cloud HCM, said: in a statement.
Scheduled to be delivered as part of Oracle Me released last April in the HCM suite,
This AI-powered application provides personalized insights and intelligent guidance across all interactions from Oracle Learning, Oracle Dynamic Skills, and Oracle Talent Management in one interface.
According to Natalia Rachelson, group vice president of outbound product management for Fusion Applications at Oracle, to provide insight, the AI engine within the application must be tested in a controlled environment before it is fully rolled out. trained on the data.
“We start small, see what results the AI recommends, and then work with the customer to fine-tune the model for specific types of datasets,” said Rachelson. , added that data normalization is complete. By Oracle data scientists.
This means that new Oracle Fusion customers will need more time to deploy the AI capabilities of Oracle Grow, said Group Vice President.
Oracle Grow’s AI capabilities include employee growth experience, career path suggestions within the enterprise, personalized development suggestions, and management skills.
According to the company, Oracle Grow’s AI engine can help employees adapt to changing roles, discover new growth options, and suggest the development opportunities they need to achieve their career aspirations. “By integrating talent data from across Oracle Cloud HCM, Oracle Grow can help employees understand the next steps they should take based on their responsibilities, career interests, desired skills, individual learning styles, and business changes.” We provide personalized guidance on statement.
