Oracle boosts AP processes with updates in its ERP cloud software

The vendor said it has integrated its Enterprise Performance Management (EPM) Cloud and Supply Chain Management (SCM) Cloud to create a new product called Integrated Performance Management and Execution. The result is a single hub and unified data model for the financial and operational planning that companies typically handle with separate processes, such as sales and operations planning, marketing and new product introduction.

Machine learning also turns up in the Intelligent Document Recognition announced this week. The software uses optical character recognition and machine learning to identify financial information and characters in popular financial-document formats, such as Adobe PDF. The cloud enables vendors to either email or directly send a PDF or an electronic transmission to the accounts payable department, and that invoice data enters the system without having to be re-keyed.

Oracle customers who are already using both EPM and SCM Cloud can take advantage of the new, unified features. In the past year, the vendor has augmented its cloud ERP suite with Oracle Digital Assistant, a voice-controlled chatbot that Oracle claims can converse with users, monitor activity and attempt to solve problems on its own.