Oracle Upgrades Procurement Suite
August 10, 2021
Spend and Procurement Analytics: A new product that gives customers a holistic view of procurement and supplier performance across the entire organization. Spend and Procurement Analytics help drive cost savings and efficiency by enabling users to view key spend metrics within a single dashboard—without complex data integration.
Spend Classification: A new capability that helps procurement professionals better understand their organization’s spending patterns and gain an accurate overview of buying activity. Spend Classification can remove manual effort and reduce human error by using machine learning to organize spend data into logical categories.
DataFox Supplier Intelligence: A new product that helps customers verify supplier data during onboarding and gain real-time insight into supplier health through alerts, as well as risk indicator scores. By using data generated by the AI and machine learning capabilities within Oracle DataFox Data Management, DataFox Supplier Intelligence can deliver current and accurate supplier profile data and risk indicator insights.
Supplier Qualification Management: A new capability that helps customers comprehensively assess their suppliers. Internal stakeholders are able to provide qualitative feedback to augment input and survey data from suppliers, as well as existing data collection and monitoring processes. As a result, Supplier Qualification Management will help customers make a complete and accurate assessment of supplier capabilities, environmental compliance, and risk.
Project-Driven Supply Chain: An end-to-end capability that helps customers in asset-intensive industries such as manufacturing control project risk with end-to-end planning, execution, and visibility. Project-Driven Supply Chain enables customers to consolidate, capture, invoice, and capitalize project-driven material, manufacturing, and maintenance costs.
The new enhancements to Oracle Procurement will help our customers maximize cost savings and ensure uninterrupted operations.