Oracle B2B Commerce makes corporate finance, logistics easier

October 19, 2022 | 3 minute read
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Partnering initially with J.P. Morgan Payments and FedEx, Oracle is making it easier and less expensive for companies to access a range of banking and logistics services directly from their Oracle Fusion Cloud ERP applications.

The new Oracle B2B Commerce, announced at Oracle CloudWorld this week, was developed to plug into Oracle’s 40,000-strong ERP customer base in order to automate B2B transactions and process flows. The solution will also include a logistics service integration as part of the FedEx Compatible program.

“To complete a deal, trading partners need to work through many manual interactions, and each step in the process adds time and inefficiencies, introduces the possibility of human error, and takes buyers and sellers away from more strategic work,” says Rondy Ng, Oracle executive vice president of applications development, who introduced the new Oracle solution during a presentation at Oracle CloudWorld on October 18. “With Oracle B2B Commerce’s integrations with J.P. Morgan Payments and FedEx, our customers will be able to automate purchasing, selling, financing, shipping, billing, and payments to reduce the cost of doing business.”

In describing the current state of B2B transactions, Ng cites the example of a hospital financing the purchase of an MRI machine. Such transactions typically involve a purchase order, sales order, loan documentation, and payment—all from different organizations that might use different ERP systems. This disparity in systems, data, and processes results in too much complexity and limits visibility and efficiencies, he says.

With Oracle B2B Commerce, native banking—as well as planned logistics and eventually other services—will be available to companies from within their Oracle Cloud ERP application with a click of a button. This allows buyers, sellers, and service providers to share information securely and streamline and automate transactions.

Native banking services with J.P. Morgan Payments

Integrations with J.P. Morgan Payments systems give Oracle Cloud ERP customers direct access to a range of native banking services, including fully automated end-to-end payment processing, corporate credit card processing with touchless expense reporting, and cash forecasting.

Oracle B2B Commerce will simplify expense reporting through a touchless mobile experience. Now, when individuals buy something using their new Oracle J.P. Morgan corporate card, those business expenses will get recorded, itemized, and audited automatically in their company’s Oracle Cloud ERP expense system, eliminating time-consuming report filing and accelerating approvals and payment.

“You will get a notification about the charge on your phone,” Ng explains. “If the charge is within company policy, you don’t need to do anything else. A background process will get it processed for reimbursement automatically.”

Cash forecasting will be easier, too. Oracle Cloud ERP already gives companies a real-time view of their cash and investment positions at banks, and they can now use Oracle B2B Commerce to combine that data with information from other ongoing transactions, Ng says. Previously, customers had to collect data manually from myriad systems, so cash predictions were
often outdated by the time the data was in hand.

Hubert J.P. Jolly, global co-head of corporate and ecommerce sales, J.P. Morgan, says: “Our goal is to provide cutting-edge payments solutions that transform the financial services ecosystem. This requires us to be where our customers are doing business. We are delighted to work with Oracle, allowing its customers to gain seamless access to J.P. Morgan Payments’ offering, including improved cash flow insights and helping to accelerate business transactions.”

FedEx Compatible logistics services

A planned FedEx Compatible solution will give customers access to integrated logistics services, including real-time rate quoting, shipping, and tracking capabilities. Oracle further plans to deliver capabilities to help optimize logistics operations in order to reduce delivery costs and improve performance.           

Look for Oracle to extend B2B Commerce to other banks and logistics companies, Ng says.

For more, read the press release.

Mark Jackley

Mark Jackley is an Oracle digital content specialist.

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