Oracle Corporation is one of the leading manufacturers of enterprise resource planning (ERP) software solutions in the world. It has recently come up with an exclusive line of cloud-based ERP platforms, especially for small companies. Enterprise resource planning refers to an all-in-one software system in which companies operate to automate their daily business activities and back-office functions. The platform has numerous in-built user-friendly modules that allow them to monitor, streamline, and manage their core processes. These normally include inventory management, supply chain operations, accounting, material procurement, risk assessment, and order fulfillment. As a result, companies can expect to see a significant improvement in business productivity.
Oracle ERP Software and Its Utility
Small companies install and operate cloud-based enterprise resource planning (ERP) software system to streamline their business processes. Moreover, the platform’s in-built centralized database ensures the proper storage, flow, and retrieval of essential commercial information across different departments. This data allows owners to get a better insight into their current market operations. They are then in a position to make decisions when it comes to determining how to enhance their competitive edge. The primary business processes which companies can automate, monitor, and manage by using a cloud-based ERP software platform are as follows:
1. Supply chain
This module within the ERP software system optimizes the workflow in the companies’ manufacturing and distribution operations,
2. Finance
The ERP’s finance feature allows companies to monitor the flow of money in areas relating to purchases, payroll, payments, and receipts,
3. The compliance and governance
The compliance and governance module of the Oracle ERP software system allows companies to comply with different regulations that the government might impose on their overseas operations,
4. Risk management
The risk management feature helps companies to assess the potential risks of undertaking new ventures and how to minimize them.
5. Project planning
The project planning feature enables companies to monitor the successful execution of new projects within the specific deadlines and budgetary requirements.
Advantages
Companies who take the initiative to install and operate a cloud-based Oracle ERP platform enjoy the following advantages
- Companies do not pay any initial license fee to operate this ERP platform, and its maintenance cost is negligible,
- The ERP platform is versatile enough to operate as an on-premises facility or integrate with other business software solutions,
- Companies can assess the data available on an Oracle ERP platform from any electronic device having an internet connection, and
- Oracle ERP system has a streamlined and easy to understand user interface which any employee or manager can operate.
The Oracle ERP software system enables companies to streamline and automate the workflow within their business processes. This helps them to significantly improve the overall efficiency of their commercial operations. They hardly spend any money on acquiring a license fee to operate this platform, and its maintenance cost is negligible. Moreover, they can install this ERP platform either as an on-premise facility or integrate it with business software systems. The company can even access its data from any electronic device having an internet connection. Above all, the Oracle ERP platform has a user-friendly interface that anyone can operate. However, if an ERP solution seems way to complicated for your own needs, we recommend you try a PC tracking software.
