Oracle Helps Federal Agencies Optimize Finance in the Cloud

News provided by

Apr 25, 2024, 08:00 ET

Oracle Fusion Cloud ERP solution helps U.S. federal agencies increase efficiency and provide better services to their constituents

AUSTIN, Texas, April 25, 2024 /PRNewswire/ -- Oracle today announced Oracle Cloud Federal Financials, a purpose-built solution in Oracle Fusion Cloud Enterprise Resource Planning (ERP) to help federal agencies increase efficiency, improve resource allocation, and achieve more with less. The industry-specific solution enables federal agencies to automate finance processes and leverage embedded AI and generative AI to help increase productivity, reduce costs, improve controls, and enhance the quality of services they provide to constituents.

Many U.S. federal agencies currently work with aging, disparate systems that keep critical financial data in silos and limit their ability to effectively implement new policies and achieve positive mission-oriented outcomes. To overcome these 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.

"Federal agencies continue to face resource constraints, while feeling pressure to improve service delivery and make a greater impact for taxpayers," said Rondy Ng, executive vice president of Applications Development, Oracle. "With Oracle Cloud Federal Financials, agencies can access a reliable, integrated, and highly-secure solution to optimize time-sensitive workflows, help deliver positive mission-oriented outcomes, and ultimately provide better services for constituents."

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 datacenters: 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 each year to continuously 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.

About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.

Trademarks
Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company--ushering in the new era of cloud computing.

SOURCE Oracle