Oracle Fusion Procurement - Empowering Procurement Function (Part-2)
Guest post by
Sirish Newlay, Consultant, Infosys
In the Part-1 of the blog, there was a brief discussion about some of the important procurement trends in the industry. This blog throws light on how Oracle Fusion Procurement Application can cater to the needs of these fast changing Human Resource trends in the industry.
Our Point of View
- Upbeat Involvement
Oracle Fusion Procurement is a complete packaged solution for any enterprise planning to make a mark in the current global competition. Oracle Fusion Procurement product family comprises of tightly integrated modules like Purchasing, sourcing and spend analytics which make buyers and other stakeholders well informed of spends across the enterprise and help them make informed decisions with real time reports on savings and profits.
- De-scoping procurement
Oracle Fusion procurement breaks the barriers of working as an age old purchasing module. Current procurement architecture of cross-product easy adaptation and co-existence clubbed with the centralized procurement principle gives Oracle Fusion procurement a star rating to be adopted by enterprises looking at doing more with a single product family. And it does not stop here from Payment terms to legal and social compliances everything is a part of the Oracle Fusion Procurement family now.
- Generation Y Procurement
Oracle Fusion Procurement is based on what we call "Learn as you work" concept. With new talent coming in market Oracle Fusion Procurement has been designed keeping in mind the various groups of people who work on the product. So for naïve users you have features like train-stop helping them understand what they are doing. In addition a strong foundation of analytics and web based acknowledgements like notifications and symbols help business users be more aware of impact and results of what they do on the system hence leading enterprises to spend less on training the new bees on the system.
- Future: Virtual Procurement Organization
Outsourcing is the mantra of the day. Oracle Fusion Procurement though not fully equipped to handle that but is in the preparing stage to do so. The flexible plug and play design would help enterprises to plug in an outsourced quotation gathering engine to the sourcing buyer dashboard which would help him/her make informed decisions. And it does not stop here, with compliance taking a major chunk of business decisions today the Oracle Procurement Contracts Manager may just look at automation of capture to implement contract process.
- Sustainability with Procurement
Oracle Fusion Sourcing has been enriched with features which makes sure that sourcing buyers in your enterprise have the flexibility of aligning to the green initiatives that your enterprise may have and that's not all with integrations with cost management and other financial modules your sourcing buyer has details on compliances, savings and spends at his/her finger tips.
With Oracle Fusion Procurement collaborative environment, productivity of organization will scale up. It will provide new avenues to customers to manage the Procurement processes in a strategic manner. Oracle Fusion Procurement Family has expedite 11i and R12 Users experiences, made improvements in all possible major and minor areas, incorporated and utilized most advanced technology across.
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