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Oracle a Leader in Two Gartner Magic Quadrants for Enterprise Performance Management

We’re proud to announce that Oracle EPM Cloud continues to receive recognition from the analyst community. Gartner recently released its 2019 Magic Quadrant for Cloud Financial Close Solutions, and Oracle is once again positioned in the Leaders quadrant. Moreover, Oracle is the only cloud provider positioned as a Leader in both Gartner Magic Quadrants related to enterprise performance management (EPM); Oracle is also a leader in the 2019 Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions. We’re pleased to make both reports available to readers with our compliments. Figure 1: Magic Quadrant for Cloud Financial Close Solutions* Source: Gartner Magic Quadrant for Cloud Financial Close Solutions, Robert Anderson, John Van Decker, Greg Leiter, 21 October 2019. Figure 2: Magic Quadrant for Cloud Financial Planning and Analysis Solutions* Source: Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions, Robert Anderson, John Van Decker, Greg Leiter, 8 August 2019. *This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Oracle. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. Accelerating the Financial Close The value that organizations can achieve with Oracle EPM Cloud became apparent in a recent survey. Among EPM Cloud customers surveyed: 73% achieved more flexibility in reporting 71% achieved greater visibility across the close process 71% reported making fewer manual adjustments 68% streamlined their close processes 44% saved time producing reports 20% reported taking less time to close the books The Value of Complete, Connected EPM 2019 marks the third consecutive year that Oracle has been named a Leader in both Magic Quadrants for EPM Cloud solutions. We believe this validates Oracle’s approach to EPM, which is to focus on a complete and integrated suite that offers both breadth and depth of functionality. Research indicates that customers are looking to seamlessly connect their enterprise performance management processes; our Value of EPM Survey found that: 70% of respondents want closer integration between planning and ERP systems 72% think it’s valuable to share an EPM platform between financial planning and analysis (FP&A) and controller teams 71% agree that the financial close would be more effective if tax and finance worked from the same software Oracle EPM Cloud has been designed with these goals in mind. It is the only complete and connected EPM solution on a common platform that addresses financial and operational planning, consolidation and close, data management, reporting, and analysis. It also offers native integration with other Oracle Cloud applications, including Oracle ERP Cloud, Oracle SCM Cloud, Oracle HCM Cloud and Oracle CX Cloud. With an integrated cloud suite across finance, supply chain, HR and customer experience—along with leading cloud infrastructure that includes Oracle Autonomous Database—Oracle helps customers to stay ahead of changing expectations, build adaptable organizations, and realize the potential of the latest innovations. Gartner writes, “We have spotted a new trend for ‘big stack’ core financial management vendors to integrate functionality for the FC [financial close]—and financial planning and analysis (FP&A)—more tightly into their offerings in order to support the office of finance. This trend may soon cause many application leaders to reconsider popular postmodern best-of-breed approaches and replace them with strategies favoring integrated single-vendor applications (see “Is Your Organization Ready to Move Away From a Postmodern Application Approach in Finance?”). We predict that, by 2023, 30% of organizations will use the financial consolidation capabilities, including accounting hubs, within cloud core financial management suites, which will reduce deployments of third-party tools.” (Gartner Magic Quadrant for Cloud Financial Close Solutions, Robert Anderson, John Van Decker, Greg Leiter, 21 October 2019, p. 1.) “The EPM Cloud market is maturing away from point solutions to effectively connect EPM business processes, improve business agility, and unlock the full value potential of EPM. We are seeing more organizations looking for an integrated EPM suite to connect their financial and operational planning with financial close and reporting processes,” said Hari Sankar, Group Vice President, Product Management, Oracle in a recent press release. “We are thrilled to be the only vendor acknowledged as a Leader by Gartner in both Magic Quadrant reports related to EPM.” Download the 2019 Gartner Magic Quadrant for Cloud Financial Close Solutions. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

We’re proud to announce that Oracle EPM Cloud continues to receive recognition from the analyst community. Gartner recently released its 2019 Magic Quadrant for Cloud Financial Close Solutions, and...

Finance Topics & Trends

5 Reasons Companies Change or Add ERP Functionality

There are many reasons why small and medium businesses (SMBs) look to change or upgrade their enterprise resource planning (ERP) systems. But five seem to bubble to the top of the list, according to a recent report published by Aberdeen—ERP Expectations for Small-to-Medium Businesses. Let’s take a few moments to discuss the five top reasons that growing companies look to change or add ERP functionality. 1. Take advantage of new features (55 percent of respondents). As a company enters new markets and pushes new product iterations out the door, ERP systems must handle exponentially increasing transactional volume, provide access to the right information quicker, and support new process requirements. Legacy systems will probably fall short.  The worst thing that could ever happen to a medium-sized business is to own an application that provides bad data to its internal users and customers. For example, if your legacy ERP system provides bad pricing data or inaccurate account balances to customers, it is time to make a change. Today customers can share their unhappiness with the world; therefore, you must have a trusted ERP solution to provide accurate and relevant information. Also, if faulty data is used for planning and forecasting, it is time to make a change. The world moves too fast for mistakes that result in excess inventory, not enough product to meet demand, or a missed a partnership/new market opportunity. 2. Ease of use (29 percent of respondents). Growing midsize companies recognize that their ERP solution must do the job and be easy to use. In 2016, the median age of the labor force was 42 years.  In specific industries, such as high tech, life sciences, advertising and public relations, retail, and internet publishing and video, the median age is much lower. This younger workforce may find newer software more attractive and even familiar, for the simple reason that these more modern technologies follow similar design patterns to consumer applications that most of us use every single day. Providing tools that are easy to use boosts employee engagement, and an engaged workforce directly correlates to employee retention. In addition, today’s consumer wants efficient and straightforward experiences. If your ERP solution cannot support a customer entry point such as mobile ordering or ecommerce site inventory look-ups or the ability to configure (and price) specific products, then those customers will look for a more modern vendor. 3. More flexibility (27 percent of respondents).  Flexibility supports profitable growth. But what is a flexible ERP system? There are three differentiators: Ability to add new functionality as needs change without any disruptive upgrades or enhancements. The result? A lower total cost of ownership (TCO). ERP solution must be able to handle different languages, currencies and accounting standards, manage multiple company sites, be implemented automatically, and run seamlessly. With competitive dynamics and the pace of change so quick in most industries, companies often do not know what their business model will be in the next 2-3 years. It's their ERP and other IT infrastructure that must support their ability to change and adapt. 4. Current performance is inadequate (26 percent of respondents). There are several warning signs that your ERP solution is not meeting performance standards. If users are relying on workarounds to perform their daily functions, then it is time to change. Increased transactional volume may slow some ERP solutions to a crawl. Are your employees submitting tickets for outages or for reports that are taking longer to run than typical or batch jobs that are not completing in the allotted time? If "yes," then it is time to make a change. 5. Incompatibility with emerging technology (20 percent of respondents). Companies in this situation should reconsider their entire IT and systems strategy. A cloud-based approach—one with a provider that can handle growth and integration support— is a viable solution. Emerging technologies may be a buzzword, but they are not a fad. Artificial intelligence (AI), machine learning (ML), and natural language processing (used in chatbots) are finding a home in ERP solutions across many different industries. They are game-changers in these industries and are being used (not just talked about) in many ways. So if your ERP solution cannot support AI to ….. it may be time to change. For more insight on the expectations midsize and medium companies should place on modern ERP systems, download our newest Aberdeen report.

There are many reasons why small and medium businesses (SMBs) look to change or upgrade their enterprise resource planning (ERP) systems. But five seem to bubble to the top of the list, according to...

Procurement

Oracle Transportation Management Ranked Highest in 4 Out of 5 Use Cases

The Gartner Critical Capabilities for Transportation Management Systems research evaluates 13 TMS solutions across 10 critical capabilities and five different use cases. Oracle ranked highest in critical capabilities across 4 out of 5 use cases. The capabilities analyzed in this research include core domestic capability, extended domestic capability, core international capability, extended international capability, usability/user experience, analytics/visibility, implementation/integration tools, adaptability/agility, carrier networks and simplicity. Download your complimentary copy of the 2019 Gartner Critical Capabilities for Transportation Management Systems. This report is a companion piece to Gartner’s 2019 Magic Quadrant for Transportation Management Systems which evaluates vendors in terms of completeness of vision and ability to execute. Oracle Transportation Management Cloud (OTM) is a comprehensive solution that spans the entire transportation process, across all modes and geographies. A complete and modern solution that supports end-to-end business processes, OTM Cloud has broad capabilities including sourcing and planning, routing, inventory visibility, modeling, fleet management and can easily integrate with IoT, machine learning, and other emerging technologies. Gartner, Inc., "Critical Capabilities for Transportation Management Systems"; Bart De Muynck, Brock Johns, Oscar Sanchez Duran; 22 May 2019. Gartner “Magic Quadrant for Transportation Management Systems” Bart De Muynck, Brock Johns, Oscar Sanchez Duran, March 27, 2019. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and is used herein with permission. All rights reserved. This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Oracle. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. Download your complimentary copy of the 2019 Gartner Critical Capabilities for Transportation Management Systems.    

The Gartner Critical Capabilities for Transportation Management Systems research evaluates 13 TMS solutions across 10 critical capabilities and five different use cases. Oracle ranked highest...

Finance Topics & Trends

Outpace Change with Future-Ready Finance and Operations

In case you didn’t get the memo: The future has just arrived. You probably saw it coming but never thought it would actually get here. The Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), blockchain: Not long ago, all of these technologies were little more than buzzwords and thought experiments.   Meanwhile, rising consumer expectations are impacting every kind of business. Your customers have come to expect same-day deliveries, two days at worst, and every single order has to be right. Now people want to subscribe to your products instead of buying them. Your investors expect you to predict demand precisely and fulfill it just in time. And regulators expect you to trace all your ingredients back to their source to help troubleshoot supply chain issues and even save lives.  The best companies are learning to adapt to this “future-is-now” world – and quick. Outpacing change is no longer option. It’s a mandate for business survival and success.  New financial models  The problem with keeping up with the future is that businesses are constrained by legacy systems that can’t support the businesses model changes they need to survive. For example, most on-premises accounting systems aren’t equipped to handle the new world of “product-as-a-service” subscription models that require new revenue recognition capabilities tailored to this environment.  The cloud removes that obstacle. Oracle, for example, built a subscription-management capability into its ERP cloud to help companies sell products as services, if that’s what they need to drive their business forward.  These types of new cloud technologies also help enterprises successfully execute mergers and acquisitions. Cloud solutions have changed the M&A game, allowing new business units to be onboarded quickly and their books consolidated and closed just as fast. Predicting the future Take another example: In the not-so-long-ago world, maintaining a factory floor or enterprise asset used to be a reactive, timebound, scheduled activity. So when something broke, it was a big and expensive problem. But in the future-is-here world, companies are using machine learning to make predictions about when equipment is wearing out and then schedule repair and maintenance activities before anything breaks.   It’s clear that these formerly futuristic technologies are delivering a lot value for businesses and the people who work there. By the way, it’s not about taking people out of the equation but allowing them to shift to more value-added work. Instead of just managing transactions, they can focus on analyzing data and trends and making better decisions.  Business planning is so much better today in the cloud. This is largely because cloud solutions can integrate business planning, sales and operational planning, and supply chain planning all on one platform. Oracle’s unified data model, for example, can bring together core operational data with product info, with machine data, and now third-party data. When you integrate all that intelligence into your supply chain planning process, you now have the power to match supply and demand with unprecedented precision, creating a huge competitive advantage. One Oracle customer – a contract manufacturer for top brands such as Newman’s Own – leveraged a cloud-based demand management system to save 5-10 percent from inventory reductions while eliminating 50% of food waste. It turns out that matching supply with demand – a collaborative process we call “plan to produce” – can help you achieve valuable strategic goals like environmental sustainability.   No science project required Today there are a lot of vendors that are “playing” with AI, ML and IoT. The difference with Oracle is that it’s building real industrial strength apps based on proven, market-tested versions of these advanced technologies. One of Oracle’s financial management solutions, for example, comes with built-in machine learning that allows companies to detect financial fraud and anomalies and improve compliance.  More recently, Oracle delivered a blockchain app that you can use “out-of-the-box” to manage entire supply networks. This helps companies track and trace goods across the supply chain and provides complete trust and transparency for all parties.  Remember that IoT sensor data is great to have, but it’s only as good as what you can do with it – which is why it’s important to apply machine learning to your data feeds. Oracle leads the way in proven ML solutions that gives companies a clear vision of how to react to changing operational conditions.  In the future that is upon us, finance and operations will need to work in unison to help companies thrive with leaner inventories, more precise product costing, and more profitable product-as-a-service business models. The fundamentals of business haven’t changed – profitability still drives success – but the way to success will require enterprises to take a more future-leaning path.  Is your enterprise equipped to outpace change? Learn more about the future of Finance and Operations at Oracle OpenWorld 2019 and at Oracle.com/scm.

In case you didn’t get the memo: The future has just arrived. You probably saw it coming but never thought it would actually get here. The Internet of Things (IoT), artificial intelligence (AI),...

Transforming the Back Office with Oracle AI Apps for ERP

Artificial intelligence offerings are taking enterprise resource planning (ERP) to new heights. From transforming accounts payable to recommending dynamic discounts, emerging technologies are automating transactional processes and driving smarter business decisions. At the forefront of these transformational technologies are Oracle Adaptive Intelligent Apps, allowing you to focus on strategy and optimize for innovation. To get a deeper understanding of the market landscape and learn how Adaptive Intelligent Apps for ERP can influence your organization, we attended Oracle OpenWorld London. Matthew Bradley, senior vice president of product development and enterprise performance management at Oracle, and Beat Nuolf, director of product management for AI Apps for ERP at Oracle, took a deep-dive into the technologies powering a smarter back office. Moving from Operations to Innovation By leveraging the new transformative technology available for the back office, organizations are able to focus on strategy to drive improvement and increase performance across the board. Fundamentally, AI Apps for ERP are streamlining your day job so you can spend more time on innovation. "By innovation we mean improving or enhancing existing processes to offer new services to your customers and new offerings to suppliers. A lot of this is coming through from the access to data and being able to leverage newer algorithms against that data to actually arrive at better insights and outcomes." - Matthew Bradley, Senior Vice President of Product Development and Enterprise Performance Management, Oracle A key characteristic of the current market is how quickly it's changing. Whether based on new competition, regulatory compliance, and/or security, an organization's ability to adapt and react quickly to change is imperative for long-term sustainability. That means digesting large volumes of data and understanding what changes are signalling a need for innovation. AI Apps for ERP give you an opportunity to see these signals in near real-time so that you can adapt and react sooner. Achieving this state of agility against change is the ultimate accelerant for revenue efficiency. "Our overall goal is to help you run your organization quicker, smarter, and faster than your competition." - Matthew Bradley, Senior Vice President of Product Development and Enterprise Performance Management, Oracle Emerging Technology Powering the transformation of the back office is a myriad of technology that can roughly be grouped into four buckets: IoT, machine learning, intelligent applications, and blockchain. With IoT creating an interrelated system of technology devices, the ability to capture and transfer data has never been easier. Being able to access all of this data (from every single device) and sort it in an intuitive way gives organizations the leverage needed to transform their back ends. For example, you can get a deeper understanding of when scheduled maintenance needs to occur and what the impact on your operating system will be if certain machines are down. With the vast amounts of data made available through IoT, machine learning gives us access to the algorithms needed to parse all the collected data, derive correlations, and deliver quick insights. This begins the shift from rule-based approaches to model-driven approaches that learn over time from user interactions and ongoing data analysis. Taking this analysis and delivering learned insights to an end user takes shape in the form of intelligent applications. An intelligent application will learn based on the context of user input and personalize recommendations to improve existing processes. For example, when your business runs forecasting analysis, an AI App for ERP would improve the accuracy of that forecast based on robust data analysis combined with human input that identifies changing business needs. The final piece of technology powering next-generation ERP Apps is blockchain. This record-keeping technology provides a new way to represent data and process transactions between different parties. With the complex interplay of decentralization and cryptography, a blockchain network can heighten security and verify transaction data by the consensus of network participants. "The end goal isn't to expose users to all this underlying technology but to expose a better way to do what you're currently doing, so you can improve the productivity and accuracy of completing that task." - Matthew Bradley, Senior Vice President of Product Development and Enterprise Performance Management, Oracle Embedded Intelligence and Automation Two areas of focus specific to AI Apps for ERP are intelligent process automation and intelligent performance management. Aligned with Oracle's overall AI strategy and primarily accelerating the automation potential of finance activities, these two areas provide context for better planning and faster time-to-action. From an intelligent process automation perspective, this means identifying repetitive tasks and automating the activity to free up human capital so that employees can focus on higher value tasks. At an ERP level, this solution would include things like touchless transactions—for example, automatically filing an expense report based on a photograph rather than manual data entry. Similarly, at an EPM level, close orchestration can automate entire schedules based on the completion of one task kicking off the succeeding task. Intelligent performance management focuses on connected planning to get access to more information and operationalize that data for more accurate outcomes. By bringing in third-party data from external providers and leveraging machine learning algorithms, predictive analytics can inform planning decisions based on a more comprehensive set of data. For example, AI Apps could run a time-series forecast based on your history to provide a forward projection that not only includes the evaluation of data against different algorithms but also leverages past user interactions. Artificial Intelligence and Smart Data The business value that artificial intelligence offers is unrivaled. From freeing up human capital to interpreting data in new ways, the insights these tools provide allow organizations to stay agile and work smarter. But, the impact of any artificial intelligence offering (and even any machine learning algorithm) is entirely dependent on quality data. "At the end of the day, artificial intelligence is only as smart as your data." - Beat Nuolf, Director of Product Management for AI Apps for ERP, Oracle Addressing this paradigm is Oracle's acquisition of DataFox and subsequent focus on smart data. With DataFox's data engine powering AI Apps, quality and comprehensive data will drive better predictions and deeper insights—specifically, focusing on smart data that is dynamic, contextual, and embedded across systems. Together, this data strategy leads to better insights so you can focus on innovation and make smarter business decisions. How AI Apps for ERP Work Collectively, the aforementioned technologies and smart data strategies work together to power Oracle AI Apps and provide your organization with better decision making. Below you can see how user interaction, decision science, and smart data all play a role in delivering relevant recommendations within an intelligent application. With this system rooted in quality first, and third-party data and algorithms that learn based on user feedback, AI Apps for ERP can begin delivering enterprise-wide benefits: Automate Smarter: Reduce processing costs, information latency, human error, and single points of failure Work Smarter: Influence strategic initiatives through smart insights and recommended actions Optimize Smarter: Increase agility and efficiency with smart business processes Available Today: Supplier Recommendations Supplier Recommendations intelligently categorize and rank suppliers with enhanced vendor data to optimize the entire procure-to-pay process. From improving early payment discount negotiations, to targeting suitable suppliers, to supporting sourcing decisions, Supplier Recommendations offer deep insights into your organization's supplier network. Available Today: Intelligent Payment Discounts Intelligent Payment Discounts generate vendor-specific discount offers for early payment of outstanding payables based on in-the-moment supplier intelligence. By optimizing early supplier payment discounts, Intelligent Payment Discounts can capture savings for your organization that would have been missed by traditional discount terms. Unlike traditional discounting approaches, machine learning algorithms and data-driven discounts can constantly adjust and optimize recommended discount offers as parameters change over time. Rather than being locked into a pre-negotiated contract, Intelligent Payment Discounts follow a sliding scale that automatically adjusts the discount rate on an ongoing basis from the invoice date. Coming Soon Even more AI Apps for ERP are on the Oracle roadmap. Automated Expense Audits will be able to identify and review expense anomalies; Procure-to-Pay will be an intelligent invoice matching application that automates invoice line to PO line matching; and Order-to-Cash will offer smart receipt-to-payment matching to improve efficiency and accuracy. Learn more about AI Apps for procurement and finance professionals. Check out Oracle AI Apps for ERP.

Artificial intelligence offerings are taking enterprise resource planning (ERP) to new heights. From transforming accounts payable to recommending dynamic discounts, emerging technologies...

Procurement

The Benefits of Automating your Contract Lifecycle Management Processes

Cost reduction and managing risk remain the top priorities amongst procurement organizations today. One area that organizations should look to help reduce cost and risk is within their contracts. While some businesses have embarked on the journey of digitally transforming their contract lifecycle management (CLM) processes, there are still several teams who continue to rely on paper-based processes to create and manage their contracts. Below are some of the key benefits that organizations receive through implementing a contract lifecycle management software to streamline and automate their processes:   Streamline and Standardize Contract Authoring Time is money, and that is especially true when creating a contract. If you have ever built a contract from scratch, then I’m sure you know how much time and effort it can take. By digitizing the contract lifecycle, organizations can save precious time by streamlining and standardizing the authoring process. Contract authors accelerate the creation process by leveraging built-in, pre-approved templates and other time saving functionality like clause libraries (i.e. pre-approved legal terms specific to a type of contract), allowing them to quickly create contracts that are legally-compliant and don’t require time-consuming legal reviews.   Additionally, users can increase collaboration between cross-functional parties with modern CLM systems. Stakeholders are able to work on the same contract with an approval workflow, and built-in collaboration for faster contract creation. One key function of Oracle Procurement Contracts Cloud is its ability to shorten the negotiation process. Redlining and subsequent revision can add considerable time with back and forth negation. There are always changes that need to be made to a contract, so handling redlining in a more expedient manner is an important step that allows them to better manage the process. This feature also provides stakeholders with a complete audit trail of every single contract update, enabling them to keep track of every step of the authoring process and approvals. Oracle Procurement Contracts Cloud is also integrated with DocuSign, which provides a seamless signature process, enabling users to digitally sign and execute contracts faster.   Improve Visibility For many organizations, contracts continue to be split between several global locations. Since many businesses still rely on paper-based contracts that are stored in filing cabinets or an electronic version on someone’s laptop in their back office, it can be hard to track down contracts, especially those located in other departments. According to the recent Hackett Group report, Raising the World-Class Bar in Procurement Through Digital Transformation, one of the benefits of implementing a contract lifecycle management (CLM) software includes “… reducing the amount of time required to find a contract by 52%.” By implementing a platform with full contract management capabilities, organizations are able to increase the visibility and management of their contracts by electronically accessing them. By having a single location for all contracts, it increases the productivity of your employees by allowing them to locate the document they are looking for when necessary, improving their productivity. Oracle Procurement Contracts Cloud provides a repository that centralizes all existing contracts in to a searchable repository so stakeholders are able to easily access their documents, increasing visibility across the board.   Reduce Risks and Ensure Compliance When organizations deal with hundreds of active contracts, it’s almost impossible for them to keep a close eye on them. One significant challenge that can arise is keeping track of expiring contracts. In the Hackett Group report, a modern CLM system also trims “the number of lapsed reports by 39%, and increasing the use of standard terms and conditions to ensure compliance.” Managers need to make sure they are notified about expiration dates so they can decide whether to renew an existing contract or renegotiate/terminate contracts that are unfavorable to their organization. In order to relieve organizations from this issue, Oracle Procurement Cloud Contracts sends automatic alerts when a contract is about to expire, ensuring no contract gets forgotten and proactive measures are being taken.   All in all, an automated contract lifecycle management system is not just a want, but a necessity for procurement organizations that need to streamline and manage their contract lifecycle management processes. When organizations do not effectively manage their contracts, it can leave them exposed to unnecessary costs such as contract leakage, increases in maverick spend, paying additional costs that negatively impacts their bottom line, and can even damage their relationship with their suppliers. By implementing a modern system, such as Oracle Procurement Contracts Cloud, organizations are able to streamline their full contract management cycle, allowing customers to get the most value out of their contracts while avoiding contractual risk. For more information on the capabilities of Oracle Procurement Contracts Cloud, click here.  

Cost reduction and managing risk remain the top priorities amongst procurement organizations today. One area that organizations should look to help reduce cost and risk is within their contracts....