Home Business Full Oracle Procurement Cloud Procurement Software Review – All you need...

Full Oracle Procurement Cloud Procurement Software Review – All you need to know about Oracle Procurement Cloud Procurement Software

32
0
SHARE
Oracle Procurement Cloud Main Image_1

Using Oracle Procurement Cloud helps businesses to streamline their source-to-pay process. This is done with a combination of automating processes and social collaboration. Costs are also controlled resulting in higher margins.

What is Oracle Procurement Cloud

Oracle procurement cloud lets you optimize your procurement business processes, ultimately making it more modern and streamlined. By doing this you will realize results faster and be able to pivot quickly when something changes with your procurement process.

Oracle Procurement Cloud also leverages the power of teamwork. By collaborating socially, you will strengthen your business. Overall this procurement software will reduce both costs and risks to your business across the entire source to settle process.

Benefits of Oracle Procurement Cloud

  • Collaborate on sourcing: Sourcing teams and Oracle social network improve the efficacy with which your business gathers requirements, shares documents and negotiates.
  • Streamline sourcing: This procurement software comes with modern, intuitive tools which simplify and streamline the negotiation process.
  • Analyze sourcing process: Study and gain insights into spend opportunities and capitalize on negotiated savings.
  • Contracting – standardize: Features are built in which ensure that your policies are adhered to. This is done using pre-approved clause libraries, contract templates, and guided contract creation.
  • Contracting – improve visibility: Make your contracts visible by using the provided secure, searchable contract repository. With this you can set up automatic renewals, view changes made, and see complete contract audit histories.
  • Contracting – compliance: Oracle Procurement Cloud makes it easy to spot deviations from contract requirements. In addition, it highlights contract risks, makes sure that documents are approved, and captures electronic signatures.
  • Procure to pay – streamline: You can automate the requisition process through invoice matching and payment. This frees up your time to focus on actually running your business.
  • Procure to pay – simplify shopping: With Oracle Procurement Cloud, your employees will be able to quickly locate any goods and services they need.
  • Procure to pay – enforce negotiated pricing: This software ensures that items are procured at the price that was negotiated. This makes sure that your reap maximum savings.
  • Supplier management – manage qualifications: You can assess the qualifications of suppliers to see if they suit the requirements of your business.
  • Supplier management – improve information accuracy: Updates to supplier information are shown to businesses. This lets them know if changes will affect qualifications, capabilities, or risk.
  • Supplier management – enable supplier collaboration: You can allow suppliers to share documents and commentary with your business, as well as let them carry out transactions electronically.

Oracle Procurement Cloud Features

Oracle Procurement Cloud gives users access to a robust feature set which we outline below.

Budgetary Control and Encumbrance Accounting

Oracle Cloud Procurement Software Budgeting

The Oracle Procurement Cloud suite of solution gives you access to budgetary control and encumbrance accounting. This solution allows for advanced budget preparation, lets you control consumption, and lets you generate detailed reports. With it, organizations can define and manage their budgets with clarity, and have the ability to view their commitments, obligations, and expenditures. They will also be able to ensure that they are complying with legally required reporting requirements.

Oracle Supplier Portal Cloud

Improving the quality of interactions that you have with your suppliers will greatly benefit your business. Oracle Supplier Portal Cloud lets you do exactly this. It removes communication barriers, is easy to setup, reduces errors and inquiries, and ultimately results in faster issue resolution.

Provided with this solution is a web based supplier self-service, portal, and supplier profile self management. In addition, there is a supplier work area. Suppliers can collaborate on agreements, and change orders can be managed. Invoices can also be presented electronically.

Oracle Supplier Qualification Management Cloud

This solution is designed to ensure the compliance of suppliers and to improve data accuracy and visibility. Overall, this solution ensures that your suppliers fall in line with your corporate policies, lets you view clearly what your suppliers have to offer, reduces the risks of supplier related issues, and improves that ability with which you make your sourcing decisions by considering all relevant details about suppliers. You will also be able to do the following:

  • Manage supplier qualification information
  • Ensure that supplier data is organized according to their qualifications
  • See if qualifiers are a good match by providing them with questionnaires
  • Score suppliers based on pre-defined data
  • Leverage internal data sources, and external ones too.
  • Be alerted when supplier information becomes available
  • Get early notifications when qualifications are expiring

Contract Management

With Oracle Procurement Cloud Contracts, you will be able to see all of your agreements mapped out, and you can also manage compliance. Making sure that contracts match up with details outlined such as clauses and service levels can be challenging. Oracle lets you take control of this process, streamlining contract creating, reducing risk, shortening cycle times and ensuring policy compliance. You will have access to a guided contract creation process. There is also a Microsoft Word plugin which makes it easier to create contracts, and also improves authoring and collaboration. Amendments to contracts are recorded, you will get notifications when renewal is pending, and digital signatures are supported.

Oracle Sourcing Cloud

Oracle Cloud Procurement Software Sourcing

Oracle Sourcing cloud provides a platform for smarter negotiations. You will be able to leverage negotiation best practices and drive strategic savings initiatives. Overall, Oracle makes the negotiation process simple, and accessible to all of your employees. You are guided step-by-step through negotiations, letting you reduce the amount of time negotiations take, and allowing you to realize savings more quickly. Negotiations can easily be shaped according to what your business needs, and information from past negotiations is readily available. Social collaboration tools can also be used with individuals in your business as well.

Oracle Sourcing Cloud lets you combine scores from team members for ranking businesses. The interface lets suppliers quickly respond to negotiations. They see a comprehensive overview of how negotiations are going during the process.

Oracle Purchasing Cloud

Oracle Cloud Procurement Software Purchase Agreements

This lets you streamline and automate your procure-to-pay process. It also ensures that pricing which was negotiated is complied with, and that policies are complied with. This solution lets you create purchase orders from requisitions without manual intervention, automatically leverages negotiated pricing, and lets you manage procurement documents easily, providing notifications if anything is modified.

You will have access to the following sub-features with this solution:

  • Buyer work area
  • Change management
  • Center-driven procurement
  • Multiple languages are supported
  • Global agreements can be negotiated
  • You will have the ability to control approvals according to item, category, location, and/or business unit.

Oracle Self Service Procurement Cloud

Oracle’s self service procurement cloud lets you manage employee requests for goods and services with a user-friendly interface. The interface models a consumer shopping website and provides the tools necessary to control spending. This makes both you and your employees happy. It reduces support costs as well since it’s so easy to use. In addition, you will also have access to the following features:

  • Catalog superstore
  • Powerful search capabilities
  • Advanced filtering capabilities
  • Catalog management
  • Flexible accounting rules
  • Configurable approvals
  • You can add notes for approvers, buyers and suppliers.
  • Smartforms

Pricing

Oracle Cloud Procurement Software Pricing

Pricing for Oracle Procurement Cloud is divided into 3 tiers. The details of these tiers are outlined below.

Sourcing

This tier is priced at $650/user/month. A minimum of 5 users is required. The standout features of this tier are:

  • Sourcing
  • Supplier Management
  • Transactional Business Intelligence for Procurement

Procurement Contracts

This tier is priced at $400/user/month and there is a minimum of 5 users. It’s standout features are as follows:

  • Procurement Contracts
  • Supplier Management
  • Transactional Business Intelligence for Procurement

Supplier Qualification Management

  • Supplier Qualification Management
  • Supplier Management
  • Transactional Business Intelligence for Procurement

Technical Details

Oracle Procurement Cloud procurement software is cloud hosted and is accessed through a web-based interface. Arabic, Chinese-Simplified, Chinese-Traditional, Czech, Danish, Dutch, English, Estonian, Finnish, French-Canada, French-France, German, Hebrew, Hungarian, Italian, Japanese, Korean, Latvian, Lithuanian, Norwegian, Polish, Portuguese-Brazil, Romanian, Russian, Spanish-Worldwide, Swedish, Thai, and Turkish are all supported languages.

Support Details

Oracle offers its Procurement Cloud customers access to 3 free introductory learning programs. The Oracle LaunchPad, Cloud Quick Start Live Events, and Guiding Learning Starter Packs are offered. Procurement Cloud training and certification is also provided. Additionally users will have access to a FAQs section, detailed documentation and the customer community which is a wealth of knowledge which promotes peer-to-peer collaboration and the sharing of best practices. If needed email and phone support are also provided.

Oracle LaunchPad

Oracle LaunchPad, teaches users about Oracle Cloud applications. Thousands of topics can be accessed. This tool lets users search for the topics of their interest, practice, and take quizzes.

Cloud Quick Start Live Events

This program is a 1/2 day live-learning event which lets users learn about the business and technical essentials of Oracle Cloud Applications. These sessions go over general concepts and functionality, product features, and essential processes.

Guided Learning Starter Packs

Guided learning makes it easy for your employees to start using Oracle Procurement Cloud. In-context training is embedded right into the application. Guidance is provided on how to carry out different processes when you need it. A base set of workflows for select applications is provided.

Procurement Cloud Training and Certification from Oracle University

This training is delivered by Oracle experts. It gives access to video based training, online courses, and/or guided learning.

FAQs

Frequently asked questions such as ‘What is Oracle Procurement Cloud?’, and ‘Can I implement approval Rules?’ are answered here.

Documentation

Detailed documentation on how to get started using this software can be found in the online documentation provided.

Customer Community

Oracle gives users access to a community which lets them benefit from the knowledge of product experts and get answers to business problems. Best practices can also be explored.

Conclusion

The automated processes provided by Oracle Procurement Cloud Procurement software frees up your time, allowing you to focus on business strategy. Features such as user-friendly procurement, contract management, and supplier collaboration will make your entire procurement process hassle free.

Your employees will have no trouble getting started with this software either since it is well-laid out. Comprehensive support materials are also provided which also help to make getting started with the software earlier. Give this product a try if you are aiming to optimize procurement in your business today.

LEAVE A REPLY

Please enter your comment!
Please enter your name here