Oracle adds AI to slew of financial control processes

Oracle has extended the artificial intelligence (AI) capabilities within Oracle Enterprise Resource Planning (ERP) Cloud and Oracle Enterprise Performance Management (EPM) Cloud. The latest machine learning-based innovations include an expense reporting assistant, project management digital assistant, advanced financial controls and project-driven supply chain management.

Rondy Ng, senior vice president at Oracle Applications Development, said in a statement that the company’s AI strategy delivered via continuous product updates means finance and operations teams can stay ahead of the technology curve and retain a competitive advantage.

More than 6,000 organizations in 112 countries and 23 industries have selected Oracle ERP Cloud as a platform, which feature innovations in artificial intelligence, digital assistants, natural language processing, blockchain, and the Internet of Things to enable enhanced productivity, reduced costs and improved controls.

The latest machine learning-based innovations include: an expense reporting assistant that uses machine learning to improve the automatic classification of expense items, monitor policy violations and reduce audit risks; a project management digital assistant that learns from past time entries, project planning data, and the overall context to tailor interactions and capture critical project information; advanced financial control that provides continuous analysis of transactions, setups, and configurations to automate audits and help prevent financial leakage, among other functions.

Read the full release

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