Oracle Corporation, a provider of integrated cloud applications and platform services, introduced updates to Oracle Fusion Cloud Procurement, a product suite that manages an organization’s complete source-to-settle cycle. Part of Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) and Oracle Fusion Cloud Enterprise Resource Planning (ERP), the company's integrated solution is designed to help customers minimize risk, reduce costs, enforce compliant spending and simplify supplier management and contracting. The updates include:

• Complex Procurement: A capability that helps organizations procure services and manage risk by helping ensure that contractors and subcontractors comply with negotiated payment terms.

• Spend and Procurement Analytics: A product that gives customers a holistic view of procurement and supplier performance across the entire organization. 

• Spend Classification: A new capability that helps procurement professionals better understand their organization’s spending patterns and gain an accurate overview of buying activity. 

• DataFox Supplier Intelligence: A new product that helps customers verify supplier data during onboarding and gain real-time insight into supplier health through alerts and risk-indicator scores. 

• Supplier Qualification Management: A new capability that helps customers comprehensively assess their suppliers.

• Project-Driven Supply Chain: An end-to-end capability that helps customers in asset-intensive industries, such as manufacturing, control project risk with end-to-end planning, execution and visibility. 

About Oracle Corporation

Oracle is an Austin-based, multi-national database management company helping customers see data in new ways and discover analytic insights. Oracle provides a range of cloud-based applications and platforms, including solutions for enterprise resource planning, data management, collaboration and IT operations management.