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What Is Oracle ERP Cloud? An Overview of Oracle ERP & Oracle ERP Modules

The ability to adapt and change is of vital importance for success in today’s competitive business landscape. Advances in business technologies like Oracle Enterprise Resource Planning (known as Oracle ERP Cloud) are leading the way to these successes through a digital transformation in scalable, end-to-end business solutions. 

In addition to Oracle ERP Cloud, Oracle Corporation offers numerous technology services such as Oracle Integration Cloud, Oracle Analytics Cloud, Oracle Transportation Management, Oracle Database, and Oracle Essbase, among others.

Oracle ERP is a modern, all-inclusive cloud-based ERP suite that allows businesses to provide advanced, cutting-edge technology capabilities, like artificial intelligence (AI) and others, to help streamline and automate processes that are still typically done manually and can slow down business efficiencies and workflow.

These can include everything from real-time analytics to automatic updates in specific marketplaces, allowing businesses to stay on top of current trends and gain competitive advantages.

In this post, we’ll take a look at more specifics of what the Oracle ERP cloud is and how it works, as well as the various ERP modules currently available.

What Is Enterprise Resource Planning? 

As businesses grow, new products and services naturally combine to create additional complexity in financial functions, complexities that can eventually grow to overwhelm a company’s standard business processes. Enterprise resource planning (ERP) integrates various critical business processes for centralized management from a single system. 

ERP helps to eliminate redundancies in existing processes, supports the flow of information between departments, and integrates data from different departments and processes. 

Predictive Analytics Today points out that most ERPs are scalable and offer the flexibility needed to integrate with other technologies the company is using now and in the future, so it’s not necessary to purchase a new system every few years. 

In addition to scalability and flexibility, businesses that adopt ERP benefit from increased productivity, gaining a competitive advantage, reducing operational costs, and more. 

What Is Oracle ERP Cloud?

Oracle Enterprise Resource Planning (ERP) Cloud is a “Software as a Service” enterprise management suite to manage a variety of business functions including procurement, financial and project management, and accounting, among others.

Running in Oracle’s cloud centers within the Oracle technology stack (allowing for the automation and provisioning of multiple cloud services), Oracle ERP Cloud supports hybrid deployment and can be accessed both through public and private cloud operations.

This multilayer stack approach allows for advanced scalability and flexibility while maintaining data control and security.

Information can be shared quickly and securely among authorized users, increasing productivity and streamlining business processes.

ERP software packages are implemented by countless businesses and organizations to maintain, innovate, and automate time-wasting manual activities that are still a necessary part of their daily operations, like:

  • Human resources
  • Project management
  • Sales volume and orders
  • Warehouse and supply chain management
  • Risk management assessment
  • Financial and inventory management

This automation saves both time and money. It also frees management and operators from the headaches that come with trying to deal with and multi-task a variety of systems and processes.

Oracle ERP Modules

Though not all technologies or platforms are the same, some basic ERP modules are common to any ERP system. Some of these include:

Human Resources Module (HR)

This module is designed to assist HR (human resources) teams in organizing employee information and records (performance reviews, job descriptions, training assessments, attendance, etc.).  Payroll Systems (a submodule) helps to manage financial records including salaries and payment reports. The HR Module can even organize and maintain travel expense information and track reimbursements.

Inventory Module

The Inventory Module can track items in stock by USN (unique serial number), as well as maintain information on the specific product’s individual physical location within the company (like an employee-assigned laptop, etc.). Other functionalities can include stock utilization reporting, master units, and inventory control and reporting.

Sales Module

A wide variety of sales processes and transactions can be managed with the ERP Sales Module, from front-of-house operations like quotations, invoices, and taxation to back-of-house functions like shipping and tracking. 

The Sales Module is often used in tandem with the CRM (customer relationship management) module for lead generation projects and other marketing functions. 

Customer Relationship Management (CRM) module

The ERP Customer Relationship Management Module can be used to maintain specific customer information and help improve and increase sales performance by streamlining customer relationships and interactions. Trackable details include:

  • Communication History
  • Call Transcripts
  • Meeting Details
  • Customer Purchase History
  • Contracts and Subscriptions (including deadlines)
Purchase Module

The Purchase Module helps maintain the important processes involved in procuring the necessary inventory for manufacturing, sales, and the organization’s day-to-day operations.

Supplier and vendor contacts and information, purchase quotes, purchase orders and tracking, and a variety of other reports are included. The Purchase Module integrates with the Finance and Accounting Module.

Finance & Accounting Module

All financial inflow and outflow fall to the Finance and Accounting Module. From tracking all expenditures and balance sheets to budgeting data and tax information, financial reporting is maintained here, along with any other information pertinent to the operations of the business. 

Engineering / Production Module

The Engineering/Production Module helps to increase communication and efficiency in product development and delivery. Functionalities include production planning, engineering and production scheduling, usage of materials, daily production tracking and analysis, and a variety of production reports.

Final Thoughts

Oracle ERP Cloud offers cutting-edge innovation and adaptability with a level of efficiency previously unseen in the business world. Pursuing Oracle certifications focused on Oracle ERP and professional roles that utilize it arms businesses with the mastery needed to get the most from Oracle ERP and other Oracle technology services. 

Oracle ERP supports the interconnectivity and accessibility of information, encouraging and dramatically improving collaboration between departments and levels. When combined with the reliability, security, and additional benefits of cloud storage technology, it makes all facets of the business better, faster, and more profitable.