Oracle software comprises of several business software applications that are made and sold by Oracle Corporation. Oracle Corporation has made many applications that are suited for use in conducting different functions in diverse groups of organizations. However, the company’s main focus is placed on the financial services industry. The various Oracle functional modules rely on Oracle’s RDBMS as their back-end application. Some of the notable functional modules offered by Oracle include the likes of Oracle Financials, Oracle Procurement, Oracle Projects, Oracle CRM and Oracle HRMS. More importantly, Oracle financials was launched in the late 1980s.
Oracle Corporation has a large portfolio of offerings for the financial services industry. Oracle FLEXCUBE is a complete banking product, and it supports retail, corporate, consumer, asset management and investor servicing. Today, Oracle has a complete E-Business Suite that can be used in any type of business to provide various modules and support different functions in organizations. Oracle Financial Software offers organizations several advantages in a turbulent market. Here are the six main reasons why Oracle Financial Software will work for your company.
Measurement of Risk
Oracle Financial Software offers good analytical tools for areas including Enterprise Risk Management that can be used by companies to measure their risk exposure. Using these tools, you can get to understand the risks that your company is currently taking. You can cultivate a risk management culture in your company through this transparent system to meet the objectives of the company. The Oracle system provides companies the ability to meet their performance objectives and avoid taking unnecessary risks. For example, banks can use Oracle Daybreak to manage risks and the lending cycles.
Enhanced Customer Value
Oracle Financial Software provide your company with the ability to enhance long-term customer value. This is facilitated by the analytical tools offered by the software. You will be able to analyze the needs and wants of your customers more comprehensively. Improved insight into your customers’ behavior is also provided by Oracle Financial Software. Through the use of the software, you can meet the needs and wants of your customers and improve customer satisfaction, which is key for sustained growth and profitability.
Strengthened Competitive Advantage
The ability to provide organizations with registration on the Internet offers more benefits for companies. As a result, these companies become more competitive in the market. Companies registered on the Internet deliver service to their customers using various tools including cell phones and other handheld devices via the Internet. Competitiveness is not restricted to the confines of the four walls of an organization’s premises.
Reduced Compliance Cost
Oracle Financial Software provides a Financial Crime and Compliance Management module that allows companies to check if their business processes comply with the legal provisions. This does not only help in cutting down the cost of compliance with the law, but it also makes it easier for the companies to operate legally.
Performance Management
Effective monitoring and control of organizational performance can be achieved through the use of Oracle Financial Software solutions. Oracle Enterprise Performance Management is the tool that serves this purpose. This tool allows companies to manage profitability, pricing, perform valuations and manage their balance sheets.
Interoperability
Oracle’s financial services applications are able to integrate with existing systems that are already in your organization. This is achieved through Oracle’s open architecture, which does not restrict the software’s use and their levels of integration.
In conclusion, whether in banking, capital markets, asset management or any other industry related to business operations, Oracle Financial Software solutions have a module that is perfect for your organization.
This article was written by Clyde Ryans, a financial software researcher and author – if you’re asking yourself, what is software selection consulting?” – feel free to click over and read up.