As planned and communicated, HCM functions within our current systems are now read-only to allow us to prepare for WaveWorks HCM (HR) to go live on March 20.   

If your department has an essential operational request during this period, please see the guidance and links on the Temporary Downtime information page.  

What is Oracle Cloud ERP (Enterprise Resource Planning)? 

 

Oracle Cloud ERP (Enterprise Resource Planning) is a comprehensive suite of cloud-based applications designed to streamline and automate an organization’s core business processes. Built on Oracle’s cloud infrastructure, it provides real-time visibility, improved collaboration, and enhanced decision-making capabilities across financials, procurement, project management, risk management, supply chain, and more. Oracle Cloud ERP is used across industries to manage financials, operations, and other essential business functions on a unified, flexible platform. 

Key Modules and Capabilities of Oracle Cloud ERP

 
  • Provides tools for managing core accounting processes, financial reporting, revenue management, and budgeting.
  • Supports general ledger, accounts payable (AP), accounts receivable (AR), fixed assets, and cash management. 
  • Automates reconciliation, compliance, and reporting tasks, ensuring accurate and timely financial management. 
  • Streamlines procurement processes, including sourcing, contract management, and supplier collaboration. 
  • Offers tools for requisitioning, purchase order management, supplier qualification, and supplier relationship management. 
  • Ensures compliance, reduces procurement costs, and enhances supplier engagement through an integrated procure-to-pay process.
  • Enables effective project planning, tracking, and execution by providing real-time project financials and operational insights.
  • Facilitates budget management, project billing, time and resource management, and project cost control. 
  • Ideal for organizations that rely on complex project management, such as construction, engineering, and professional services. 
  • Offers tools to manage and mitigate financial and operational risks, ensuring compliance with regulations.
  • Provides advanced security controls, audit trails, and automated workflows to reduce risk and enhance data governance.
  • Supports internal audit processes, risk assessment, and regulatory compliance, helping organizations maintain a strong control environment.
  • Integrates with Oracle Cloud EPM to support financial planning, budgeting, and forecasting. 
  • Enables strategic modeling, scenario planning, and financial analysis to support enterprise-level decision-making. 
  • Ensures compliance with revenue recognition standards (ASC 606/IFRS 15).
  • Automates revenue recognition and billing processes, tracking customer contracts, and improving transparency.
  • Useful for subscription-based or contract-based businesses requiring detailed revenue management.

Key Benefits of Oracle Cloud ERP

 

Provides real-time insights into operational and financial performance, enabling organizations to make timely, data-driven decisions.

Built on Oracle Cloud Infrastructure, Oracle ERP is scalable and flexible, meeting the needs of both mid-sized companies and large enterprises. 

Automates repetitive tasks like invoice processing, reconciliation, and procurement approvals, which increases efficiency and reduces errors.

Oracle Cloud ERP eliminates the need for on-premises infrastructure and reduces the cost of upgrades, patches, and maintenance. 

By centralizing data and providing role-based access, Oracle Cloud ERP improves collaboration across departments, enhancing coordination in finance, procurement, and supply chain.

The cloud-based infrastructure includes advanced security controls and compliance features, protecting sensitive data and supporting regulatory compliance.