New Launch: Oracle Cloud Federal Financials with Embedded AI and GenAI Features
Oracle Fusion Cloud ERP solution helps U.S. federal agencies increase efficiency and provide better services to their constituents
Leading cloud computing service provider, Oracle has announced Oracle Cloud Federal Financials to improve the efficiency and productivity of its ERP-based solutions for federal agencies. Offered as a purpose-built solution in Oracle Fusion Cloud Enterprise Resource Planning (ERP), the new offering would empower federal agencies to automate their finance processes using embedded AI and generative AI (GenAI) capabilities. Users can expect increased productivity across their finance processes, with enhanced control over their workflows and improved quality of services and resource allocation.
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Currently, Oracle provides Oracle Fusion Cloud ERP suite to meet the ever-changing demands of its customers from the finance industry. Its advanced AI integration powers the automation and embedded analytics engine to assist finance teams with highly granular-level real-time insights. Federal agencies can achieve more or less by automating their entire finance processes using embedded AI and gen AI capabilities.
Why Do Federal Agencies Need an AI-powered ERP Suite?
Federal agencies use ERP software solutions to streamline their cloud operations for analytics, inventory, and warehouse management. When it comes to coordinating and integrating finance processes, users find traditional ERP solutions slow, inaccurate, and unreliable. Oracle ERP has a time-tested implementation record to meet the needs of modern businesses and agencies. Oracle Cloud Federal Financials could replace the aging solutions many U.S. federal agencies currently work with. It would remove the challenges linked to working with disparate systems that keep critical financial data in silos and limit their ability to implement new policies effectively. With the Oracle Cloud Federal Financials solution, users can achieve positive mission-oriented outcomes.
To overcome existing challenges, federal agencies need a single, integrated financial management solution that meets federal budgetary accounting requirements and aligns with the U.S. Government’s Cloud Smart Strategy and M3 Framework.
Rondy Ng, EVP of Applications Development, Oracle said, “Federal agencies continue to face resource constraints while feeling pressure to improve service delivery and make a greater impact for taxpayers. With Oracle Cloud Federal Financials, agencies can access a reliable, integrated, and highly-secured solution to optimize time-sensitive workflows, help deliver positive mission-oriented outcomes, and ultimately provide better services for constituents.”
Key Features of the Oracle Cloud Federal Financials
Oracle Cloud Federal Financials helps federal agencies to:
- Automate federal accounting and budget execution processes: With automated federal accounting, seamless budget planning and execution, funds control, delinquency processing, and debt collection capabilities, federal agencies can reduce redundancies, improve data quality, and streamline finance and accounting processes.
- Accelerate insights with AI and generative AI-driven automation: With transaction automation, and predictive insights using embedded AI, generative AI, and machine learning, federal agencies can reduce the amount of time spent on manual tasks, accelerate financial reporting, and make more informed decisions.
- Access integrations with the U.S. Treasury: Via integration with the U.S. Treasury, federal agencies can securely and efficiently process intragovernmental transactions and provide auditable financial reporting files.
- Secure data in dedicated government data centers: With access to Oracle’s dedicated government data centers that are FedRAMP and Impact Level authorized, federal agencies can take advantage of role-based controls and top-to-bottom security features to help safeguard against cyber-attacks and data leaks.
- Scale and adapt IT resources: With the ability to dynamically increase and decrease consumption (cost) based on mission-critical workload requirements via Oracle Cloud Infrastructure (OCI), federal agencies have the agility and scalability for changing needs without compromising performance or availability.
- Embrace continuous innovation: With Oracle’s quarterly update cycle, federal agencies can adopt hundreds of new features and capabilities to optimize and enhance Finance and Operations.
More than 10,000 organizations, across public and private sectors, turn to Oracle Cloud ERP to run their businesses. Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities, including financials, accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, supply chain management & manufacturing, and Oracle B2B, which revolutionizes the way organizations transact, pay, finance, and ship sustainably across the globe.
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