Oracle Fusion Cloud Provides Real-time Insights to One of Nation's Largest Energy Infrastructure Companies

Rhea-AI Summary

Williams Companies has transitioned its finance and operations processes to Oracle Fusion Cloud ERP, enhancing efficiency and cost control. This move aims to replace outdated systems, providing real-time insights and improved governance. According to Williams' executives, the cloud solution has reduced costs, eliminated 13 redundant applications, and improved operational margins. Oracle's ERP solution focuses on AI-driven automation and advanced analytics, catering specifically to the oil and gas industry, further aiding Williams in optimizing its business operations.

Positive

• Transitioned to Oracle Fusion Cloud ERP for finance and operations, enhancing productivity.
• Reduced costs significantly by eliminating 13 redundant applications.
• Improved operational margins and received quarterly updates from Oracle.
• Focus on AI-driven automation and analytics to optimize business processes.

Negative

• None.

With Eyes on Efficiency and Cost Control, Williams Moves Finance and Operations Processes to Oracle Cloud ERP

AUSTIN, Texas, May 5, 2022 /PRNewswire/ -- Williams Companies, a Fortune 500 company that handles nearly 30 percent of the natural gas in the United States, has moved finance and operations to the cloud with Oracle. Oracle Fusion Cloud Enterprise Resource Planning (ERP)  will play a critical role in providing Williams with real-time insights and control over costs, in addition to reducing its own energy consumption with SaaS.

To improve productivity and simplify its finance and operations processes, Williams needed to replace its legacy financial management system with a modern cloud solution that would enhance visibility and governance across its business. After careful evaluation, Williams selected Oracle Cloud ERP for its ability to automate and manage key financial data on a single, highly secure and scalable cloud platform as well as joint venture management capability to distribute costs and revenue efficiently and accurately among partners.

"We eliminated thirteen different applications that had been bolted on, improving data governance and visibility into financial metrics," said Cherie Humphries, chief procurement & digital transformation officer at Williams. "With Oracle Cloud ERP, we now have a complete and modern suite of enterprise applications that all run on a common data platform, automates time consuming processes and allows us to innovate and focus on evolving the business." 

"The natural gas industry went through a boom, and then into stabilization, which impacted our cost structure pretty significantly," said Brian Letzkus, chief information officer at Williams. "The constant growth of buying and bolting on new solutions created a crowded IT organization with fluctuating costs. With Oracle Cloud ERP, our costs have gone down dramatically, we get new updates every quarter, and we've seen huge improvements to our operational margin – it's been a big game changer." 

"From core finance transformation to AI-driven automation, advanced analytics, and predictive modelling, our investments in oil and gas industry focused innovations are at the heart of Oracle Cloud ERP," said Rondy Ng, senior vice president of applications development, Oracle. "We are proud to be partnering with Williams to help the company focus on building strategic alliances, unlocking new business opportunities, and building a clean energy economy."

Over 8,700 organizations across all industries and geographies rely on Oracle Cloud ERP to run their businesses. 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, subscription management, and supply chain and manufacturing. It is a self-updating platform that constantly provides customers with the industry's most advanced technologies every 90 days, giving organizations the ability to predict, plan and act on new possibilities faster.

To learn more about Oracle Cloud ERP, visit oracle.com/erp

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

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SOURCE Oracle

FAQ

What changes did Williams Companies make regarding its finance and operations?

Williams Companies transitioned its finance and operations processes to Oracle Fusion Cloud ERP.

How has Oracle Cloud ERP impacted Williams' costs?

The transition to Oracle Cloud ERP has significantly reduced costs for Williams Companies.

What was the reason behind Williams Companies' move to Oracle Cloud ERP?

Williams needed to replace its legacy financial management system with a modern solution for better visibility and governance.

What benefits does Oracle Cloud ERP provide to Williams Companies?

Oracle Cloud ERP provides real-time insights, improved data governance, and the ability to automate key financial processes.

When did Williams Companies announce its partnership with Oracle for ERP?

Williams Companies announced this transition on May 5, 2022.

What industry does Oracle Cloud ERP cater to in this context?

Oracle Cloud ERP is focused on innovations in the oil and gas industry.