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Advice and Information for Finance Professionals

Make AI the decisive factor when choosing a cloud provider

Emma Hitzke
Senior Product Marketing Director, Emerging Tech

Previously posted on the Oracle Cloud Applications Blog.

In a recent blog, my colleague, Yaldah Rashid, shared 6 key questions to ask your Cloud Provider when moving to SaaS from the latest version of the e-book, SaaS for Dummies, Oracle 3rd Edition.  She highlighted the importance for companies of all sizes and industries to have access to the most complete, connected SaaS suite of applications built with artificial intelligence (AI) and machine learning (ML) across all business functions. AI has indeed become a corner stone for any company looking at accelerating their digital transformation journey.

Employees are eager to join companies which are on board with AI

A recent global research “Money and Machines” shows that organizations that don’t embrace AI in finance will miss out on the next generation of talent: Gen-Z and Millennial employees expect employers to leverage the same technologies that they’re accustomed to in their personal lives and will favor organizations taking advantage of AI in finance over those that don’t. Millennial employees are nearly 4X more likely than Baby Boomers to want to work for a company using AI to manage finance.

That’s good news for the increasing number of companies which have already deployed smart digital assistants to improve employee productivity and satisfaction. For example remote employees can now.  get accurate and fast answers to their policy questions, health and safety concerns, and self-service requests. Employees and even customers can also monitor complex supply chain activities—such as orders and shipments— and receive up-to-date forecasts, thanks to AI-enabled digital assistants.

Building your business for the future with AI-enabled apps

Digital assistant is just one example of AI in action. AI-enabled apps can analyze large amounts of internal and external data to automate repeatable tasks, reduce costly human errors, improve employee engagement, improve predictions, and make personalized recommendations  across lines of business such as finance, operations, HR, sales, and marketing.

With AI, ML, and IoT capabilities now being built directly into cloud solutions, customers can harness their potential right out of the box, so you can get started with truly business-changing technologies without the need to invest in complex projects or costly, hard-to-find skill sets.

Oracle brings a stream of continuous innovation delivered via quarterly updates directly within the SaaS application. Companies can activate as needed, making SaaS an appreciating, rather than depreciating, investment for your businesses. It has truly become innovation-as-a-service!

Check your cloud provider’s capabilities

80% of executives say their organizations are planning big moves in 2021, according to a recent research by MIT Technology Review Insights. Will your cloud provider help you to accelerate these strategic moves or instead hinder them?  Some key capabilities you should look for in a SaaS provider include:

  • Periodic updates for access to the latest innovations.
  • Applications with built-in AI, learning as you go to for intelligent processing and prediction.
  • Data management capabilities to better manage your data and hierarchies.
  • Data as a Service to enrich your customer, audience, and prospect data set.
  • Cloud services that support Internet of Things (IoT), big data and other embedded technologies.

To learn more, download a complimentary copy of the SaaS for Dummies, Oracle 3rd Edition.

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