AI adoption is on everyone’s mind. But how to do it isn’t always clear, especially for finance departments where “moving fast and breaking things” is not a smart strategy. So, we’re encouraging customers to enable AI features embedded in Oracle Fusion Cloud ERP following a crawl, walk, run strategy, specifically:
1. Crawl by starting with predictive AI features that help detect patterns, automate routine tasks, and spot anomalies.
2. Walk by moving to GenAI features that summarize financial information and create narratives and visuals.
3. Run by progressing to AI agents that provide services tailored to the specific needs of finance departments, streamline tasks, and automate workflows.
This approach provides enough guidance to get started and know what to do next; and it offers the flexibility for companies to evaluate specific features based on priorities and expected business value. To help you create a more specific AI adoption plan, this article identifies important AI features delivered as part of your Fusion Cloud ERP and EPM subscriptions. It also provides information on new features listed in our product roadmaps and slated for upcoming releases.
1. Crawl: start with predictive AI
We recommend focusing first on enabling AI features for automation. Consider starting with accounts payable, where AI features can help increase operational efficiency, reduce errors, and better position the department to improve working capital. For example:
- Intelligent document recognition makes it possible to process supplier invoices faster with less manual intervention.
- Intelligent account combination defaulting predicts and populates account-code combinations to reduce manual data entry.
- Intelligent invoice-to-PO line matching automatically matches purchase orders to invoice details.
There are other AI features that can help with predictive cash forecasting, predictive planning, and more. For more information, you can download the “AI in Connective Enterprise Planning” business brief.
2. Walk: move to GenAI features
The next step is to adopt GenAI features, and some of the most obvious candidates are EPM enhancements that help make management reporting significantly easier for finance teams. For example, narrative reporting and period comparison capabilities help create summaries of business conditions and how they are changing. You can also evaluate procurement, given the long list of GenAI capabilities we’ve released across strategic sourcing, supplier management, and purchase order management. Procurement applications will get additional GenAI features in upcoming releases, with plans for negotiation summarization, supplier policy advice, and contract terms in the works (details on the 25A ERP roadmap).
3. Run: progress to AI agents
AI agents are hot, and we have more and more capabilities slated for delivery in upcoming releases. One of the most significant for Fusion Cloud ERP is the Document IO agent, which can help you simplify connections to third parties across channels and document standards, transactions, formats, and languages. In upcoming releases, we’ll deliver more and more functionality through the Document IO agent, including:
- Payables invoice streaming for supplier invoice, payment requests, and Thomson Reuters E-Invoicing
- Virtual credit card statement ingestion
- Automated cash processing for lockbox, bank statement, and payment remittance advice
- Receipt capture and automated matching for touchless expenses with J.P. Morgan corporate cards (already available as of Release 25A)
And upcoming releases will add new agents, including:
- Expense policy agent that will help employees with compliance and questions
- Project management AI agent that will generate program analyses and action plans; these capabilities will complement GenAI features for project status summary and change order generation
Check out this downloadable business brief for more details on how AI agents in Fusion Cloud ERP can help drive financial excellence.
Summing up
Our advice for finance professionals is simple: the time to adopt AI is now. You should crawl, walk, and then run to gain experience, confidence, and expertise. While everything is easier said than done, it also may be easier than you think to begin adopting AI. These AI innovations are available to you at no extra cost through Fusion Apps quarterly updates. All you need to do is get started.
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