Monday, May 20, 2024

Oracle unveils new B2B solutions via cloud ERP

To help organizations reduce the cost of doing business, improve the customer experience, and introduce new offerings, Oracle has launched new services that will integrate and automate end-to-end business-to-business (B2B) transactions.

Oracle recently held Oracle OpenWorld to unveil its latest enterprise-focused solutions

The new Oracle B2B Commerce eliminates the disparate systems, processes, and data integration challenges that make B2B transactions so complex by directly connecting more than 40,000 buyers, sellers, and service providers via Oracle Cloud Enterprise Resource Planning (ERP).

For example, Oracle B2B Commerce will provide integrations with J.P. Morgan’s Payments business, which includes the firm’s treasury services, trade, commercial card and merchant services capabilities, for integrated banking and JP Morgan travel card and expenses services as well as a planned logistics services integration as part of the FedEx Compatible program.

“To complete a deal, trading partners need to work through many manual interactions and each step in the process adds time and inefficiencies, introduces the possibility of human error, and takes buyers and sellers away from more strategic work,” said Rondy Ng, executive vice president of applications development at Oracle.

“With Oracle B2B Commerce’s integrations with J.P. Morgan Payments and FedEx, our customers will be able to automate purchasing, selling, financing, shipping, billing, and payments to reduce the cost of doing business.”

Oracle B2B Commerce will combine direct connectivity between Oracle Cloud ERP and service providers ranging from JP Morgan Payments and FedEx to other financial services firms, insurance companies, and delivery services with a unified data model and secure workflows to digitize the entire B2B commerce process for mutual customers.

By enabling 40,000 businesses to seamlessly transact and share information across all trading parties, Oracle B2B Commerce helps expedite the completion of transactions and improve the customer experience. It also enables organizations to offer new services including new payment solutions.

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