Oracle Fusion Cloud ERP Named a Leader for Fifth Straight Year in 2021 Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises

Rhea-AI Summary

Oracle Fusion Cloud ERP has been recognized as a Leader in the 2021 Gartner Magic Quadrant for Cloud Core Financial Management Suites for the fifth consecutive year. Among 10 evaluated products, Oracle ranked highest in execution and completeness of vision. The report highlights a growing demand for cloud solutions to overcome challenges faced with on-premises applications. Oracle's advancements, such as intelligent performance management and expanded integrations, like with Microsoft Teams, cater to over 7,700 organizations globally, aiming for continual innovation in finance transformation.

Positive

• Ranked highest for ability to execute and completeness of vision in Gartner's evaluation.
• Increased demand for Oracle's cloud solutions due to challenges with on-premises applications.
• Over 7,700 organizations have adopted Oracle Cloud ERP.
• Innovations include intelligent performance management and enhanced digital assistants.

Negative

• None.

AUSTIN, Texas, May 13, 2021 /PRNewswire/ -- Oracle Fusion Cloud Enterprise Resource Planning (ERP) has been named a Leader in 2021 Gartner "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises" for the fifth consecutive year. Of the 10 products evaluated, Oracle is placed highest for its ability to execute and is placed furthest to the right for completeness of vision. A complimentary copy of the report is available here.

According to the report, "Leaders demonstrate a market-defining vision of how core financial management systems and processes can be supported and improved by moving them to the cloud. They couple this with a clear Ability to Execute this vision through products, services and go-to-market strategies. They have a strong presence in the market and are growing their revenue and market share. In this market, Leaders show a consistent ability to secure deals with enterprises of different sizes and have a good depth of functionality across all areas of core financial management. They have multiple proofs of successful deployments by customers, both in their home region and elsewhere. Their offerings are often used by system integrator partners to support financial transformation initiatives. Leaders typically address a wide market audience by supporting broad market requirements. However, they may fail to meet the specific needs of vertical markets or other, more specialized segments, which might be better addressed by Niche Players in particular."

In addition, the report states "Gartner's client inquiry data shows that interest in CCFM suites is increasing significantly. Many application leaders and senior finance users believe that moving to the cloud will enable them to easily avoid the challenges they face with on-premises core financial applications — such as cumbersome UIs, too much customization and expensive, hard-to-manage upgrades."

"Our world has been radically altered this past year and our customers have successfully pivoted against all challenges to accelerate their finance transformations and modernize their business processes in the cloud," said Rondy Ng, senior vice president of applications development, Oracle. "We are privileged to be acknowledged by Gartner for a sustained half decade of Cloud ERP leadership. We believe that this validates our product strategy and customer centricity, our focus on continuous innovation, and recognizes the confidence our customers place in Oracle Cloud ERP."

Oracle Cloud ERP is directed towards a vision of touchless operations, continuous forecasting, and an enhanced conversational experience. Our machine learning and artificial intelligence investments in each update are designed to enable CFO's and their Finance teams to shift from an operational to a more strategic mindset. Recent innovations include Intelligent Account Combination Defaulting, Intelligent Performance Management, and additional digital assistants including an expanded collaboration platform with Microsoft Teams.

More than 7,700 organizations across a wide range of industries and regions have adopted Oracle Cloud ERP to drive their finance transformation. With Oracle's software-as-a-service (SaaS) delivery model, customers can quickly and easily take advantage of on-going quarterly innovation updates in artificial intelligence, machine learning, digital assistants, and analytics, helping businesses get faster and smarter every 90 days without any downtime or business disruption.

Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities, including financials, accounting hub, procurement, project management, enterprise performance management,  risk management, and subscription management. With native integration to the broader Oracle Fusion Cloud Applications Suite, including Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM) and Oracle Advertising & Customer Experience (CX) applications, Oracle Cloud ERP provides a complete solution to help customers increase productivity, reduce costs and improve controls. Oracle Fusion Applications are driven by five tenets focused on a customer-first mindset, with the industry's most complete cloud, built on the best technology platform, delivering the fastest innovation, and a modern user experience for our customers.

Oracle has garnered consistent industry recognition for its finance and performance management applications. Oracle was recently named a Customers' Choice Vendor in the 2021 Gartner Peer Insights 'Voice of the Customer': Cloud Financial Planning and Analysis Solutions¹. Additionally, Oracle was named a Leader in October 2020 Gartner  "Magic Quadrant for Cloud Financial Planning and Analysis Solutions²" and was named the sole Leader in June 2020 Gartner  "Magic Quadrant for Cloud ERP for Product-Centric Enterprises³" for the second consecutive year.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Oracle
Oracle offers suites of integrated applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks
Oracle, Java, and MySQL are registered trademarks of Oracle Corporation.

¹ Gartner, Gartner Peer Insights 'Voice of the Customer': Cloud Financial Planning and Analysis Solutions, 11 March 2021
² Gartner, Magic Quadrant for Cloud Financial Planning and Analysis Solutions, Robert Anderson, Greg Leiter, John Van Decker, 6 October 2020
³ Gartner, Magic Quadrant for Cloud ERP for Product-Centric Enterprises, Tim Faith, Duy Nguyen, Denis Torii, Paul Schenck, Christian Hestermann, 22 June 2020

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SOURCE Oracle

FAQ

What recognition did Oracle Fusion Cloud ERP receive in 2021?

Oracle Fusion Cloud ERP was named a Leader in the 2021 Gartner Magic Quadrant for Cloud Core Financial Management Suites.

How long has Oracle Cloud ERP been recognized as a Leader by Gartner?

Oracle Cloud ERP has been recognized as a Leader for five consecutive years.

What factors contributed to Oracle's high ranking in the Gartner report?

Oracle was placed highest for its ability to execute and farthest for completeness of vision among evaluated products.

How many organizations use Oracle Cloud ERP?

More than 7,700 organizations across various industries and regions have adopted Oracle Cloud ERP.

What innovations has Oracle introduced in their Cloud ERP offerings?

Recent innovations include Intelligent Performance Management and expanded digital assistants, enhancing finance transformation.