Latest news with #OracleFusionCloudEnterprisePerformanceManagement
Techday NZ
2 days ago
- Business
- Techday NZ
Oracle Red Bull Racing adopts cloud suite to boost F1 operations
Oracle Red Bull Racing has chosen the Oracle Fusion Cloud Applications Suite in an effort to strengthen its finance and HR processes and support compliance with Formula One's fixed annual cost cap. The Formula One team will utilise Oracle Fusion Applications—covering finance, HR, and customer experience functionalities—to move away from manual spreadsheet-based systems, aiming to raise overall efficiency, manage costs, and provide better insights across its operations. Operational transformation Oracle Red Bull Racing has long made use of Oracle Cloud and artificial intelligence technology to guide its on-track strategies and decision-making. The latest move extends this approach to the operational side of the business, seeking to replicate sporting success through streamlined back-office processes. The team's legacy financial planning had become increasingly complex and dependent on spreadsheets, limiting visibility into business performance data. By implementing Oracle Fusion Applications, Oracle Red Bull Racing expects to merge its finance, HR, and customer experience data onto one integrated cloud-based platform. "With a fixed annual cost cap that we can't exceed, we need to make every resource go further and manage our operations as efficiently as possible. With Oracle Fusion Applications, we can take advantage of the cloud and latest advancements in predictive, generative, and agentic AI to optimize financial planning activities, accelerate business insights, and derive more value and performance from our operating budget," Matt Cadieux, Chief Information Officer at Oracle Red Bull Racing, said. AI and cloud benefits Officials say that Oracle Fusion Applications will enable the team to leverage AI-powered services for higher efficiency, faster decisions, and adaptability in an environment where response speed is crucial. Among the new tools coming online is Oracle Fusion Cloud Enterprise Performance Management (EPM)—a component of Oracle Fusion Cloud ERP. This toolset is expected to help Oracle Red Bull Racing raise visibility over business activities, refine its budgeting and planning processes, and better allocate resources according to priorities. In addition, Oracle Fusion Cloud Human Capital Management (HCM) is being brought into the team's HR activity. According to the company, the HCM system will provide granular insights into workforce performance, simplify core HR operations and payroll, streamline talent recruitment activities, and ultimately enhance the overall employee experience at the racing organisation. On the customer side, Oracle Red Bull Racing continues to rely on Oracle Fusion Cloud Customer Experience (CX). The CX solution is intended to provide a more personalised approach to fan engagement, including tailored content, exclusive rewards for members, and programming for fan loyalty. These efforts are part of the team's wider digital and audience engagement strategy. Supporting compliance and success "Speed, innovation, and efficiency are essential for success in Formula One. With Oracle Fusion Cloud Applications, Oracle Red Bull Racing will be able to embrace continuous innovation and AI-powered automation to support its finance and operations and drive even greater success on and off the track," said Steve Miranda, Executive Vice President of Applications Development at Oracle. The implementation of Oracle Fusion Cloud Applications Suite at Oracle Red Bull Racing will be managed by Oracle Consulting, while ongoing operational support will come from Oracle Customer Success Services. The Formula One team has cited the need to better control costs and efficiently manage operational spending due to the sport's strict cost cap rules. The cloud-based approach is designed to provide a consolidated view of data and operations, simplifying compliance efforts and supporting the drive for both competitive and operational gains. Oracle Red Bull Racing anticipates that the migration to Oracle Fusion Applications will aid not only in complying with financial regulations but also in improving the employee and fan experiences throughout the racing calendar.
TECHx
2 days ago
- Automotive
- TECHx
Oracle Red Bull Racing Adopts Oracle Fusion Cloud Apps
Home » Top stories » Oracle Red Bull Racing Adopts Oracle Fusion Cloud Apps Oracle Red Bull Racing has announced its adoption of Oracle Fusion Cloud Applications Suite. The move is aimed at enhancing productivity, reducing costs, and improving both employee and fan experiences. The team will use Oracle Fusion Applications for finance, human resources, and customer experience. This integrated approach allows Oracle Red Bull Racing to manage operations more efficiently under Formula One's strict cost cap rules. The team reported that it previously relied on manual, spreadsheet-based financial planning. To address this challenge, it needed a single view of its business data. Oracle Fusion Applications now connects its finance, HR, and customer experience data on one platform. Matt Cadieux, Chief Information Officer at Oracle Red Bull Racing, stated that the team is leveraging cloud technologies and advancements in predictive, generative, and agentic AI. These tools are expected to optimize financial planning, deliver faster business insights, and improve resource utilization. Oracle Fusion Cloud Enterprise Performance Management (EPM), a component of Oracle Fusion Cloud ERP, will improve visibility, budgeting, and planning. Meanwhile, Oracle Fusion Cloud Human Capital Management (HCM) will simplify payroll and HR tasks, enhance recruitment, and generate deeper workforce insights. Additionally, the team continues to use Oracle Fusion Cloud Customer Experience (CX) to connect with fans. Features include content personalization, loyalty programs, and exclusive rewards. Steve Miranda, Executive Vice President of Applications Development at Oracle, revealed that the cloud suite will help the team drive efficiency and innovation on and off the track. Oracle Consulting will oversee the implementation Oracle Customer Success Services (CSS) will provide ongoing support Oracle Red Bull Racing emphasized the importance of speed, efficiency, and innovation to stay ahead in Formula One, both technically and operationally.
Mid East Info
15-05-2025
- Business
- Mid East Info
The Department of Finance in Ajman Organises Workshop on Newly Launched Smart Financial Planning System - Middle East Business News and Information
The Department of Finance in Ajman held a comprehensive introductory workshop for all government departments in the emirate about the Oracle Fusion Cloud Enterprise Performance Management (EPM) smart financial planning system. The department officially launched within the actual environment after successfully completing all stages of preparation and testing. The workshop, held over two days—May 7 and 8, 2025—was part of the department's broader efforts to drive digital transformation across financial and government operations, and to leverage artificial intelligence tools that improve the efficiency of financial planning, increase transparency, and support the emirate's sustainable development goals. The session targeted employees and managers of financial and human resources units in government agencies, as the first day's activities included presentations on the smart financial planning system, which included practical applications on preparing financial plans and the annual budget related to the government's strategic objectives. On the second day, the processes of managing the general budget, making amendments to the approved budget on the system, and reviewing financial reports as well as periodic performance reports on the financial planning system were highlighted. His Excellency Marwan Ahmed Al Ali, Director General of the Department of Finance in Ajman, pointed out that the launch of the smart financial planning system represents a qualitative shift in the government financial work system, stressing that the workshop aims to enable government agencies to use the system with high efficiency, and build the capabilities of work teams to manage Budgets in more flexible and innovative ways His Excellency added: 'We at the Department of Finance are committed to the approach of innovation and consolidating institutional integration, and we are keen to provide smart digital tools that contribute to supporting decision makers with accurate and immediate information, and help raise the efficiency of resource allocation, which reflects positively on public financial sustainability and the quality of life in society.' The smart financial planning system is characterised by a set of advanced features that include automating budget preparation processes using artificial intelligence techniques and predictive analytics and providing integrated financial and narrative reports in accordance with international standards, in addition to high flexibility in managing the general budget. It also helps support decision-making through smart control panels. And real-time reports, as well as full integration with current government systems, such as the Fusion financial system. The department directed all government agencies in the emirate to begin using the system and benefit from its advanced capabilities, noting that this project stems from the vision of the Ajman government to enhance financial governance, accelerate digital transformation, and achieve optimal use of public resources in a way that serves citizens and investors and keeps pace with future aspirations.
Yahoo
13-03-2025
- Business
- Yahoo
OCBC Unifies Global Finance with Oracle Fusion Cloud ERP
Southeast Asia's second largest financial services group moves finance to the cloud to streamline financial processes, improve insights, and enhance compliance SINGAPORE, March 13, 2025 /PRNewswire/ -- Oracle CloudWorld Tour -- OCBC, Southeast Asia's second largest financial services group by assets, is using Oracle Fusion Cloud Enterprise Resource Planning (ERP) to support its purpose to enable people and communities to realize their aspirations. With Oracle Cloud ERP, OCBC has unified its global finance platform to increase efficiency and enhance decision-making, as it continues to strengthen its ASEAN-Greater China network. Formed in 1932 and headquartered in Singapore, OCBC has close to 420 branches and representative offices across 19 countries and regions. To enhance its operational efficiency and align its financial processes globally, OCBC turned to digitalization to transform its capabilities, moving away from manual processes. OCBC chose to implement Oracle Cloud ERP to streamline and automate its finance operations and reporting for improved organizational effectiveness. "We have a comprehensive banking, wealth management, insurance and asset management franchise that sets the OCBC Group apart from our peers. It is imperative that we work together as 'One Group' to drive synergies that will foster growth. To achieve this, our finance teams across various entities and geographies will need a unified and agile global finance platform," said Goh Chin Yee, group chief financial officer, OCBC. "Oracle Cloud ERP provided this solution, with capabilities to automate our finance operations and reporting, enabling us to harness the power of data analytics and artificial intelligence (AI). With regular refresh and updates to these capabilities, we will be able to respond swiftly to changes in our operating environment, remain competitive while ensuring compliance with regulatory and accounting changes." With Oracle Cloud ERP, OCBC has increased productivity and improved controls. Oracle Fusion Cloud Enterprise Performance Management (EPM), part of Oracle Cloud ERP, has also enabled OCBC to align its financial consolidation and reporting processes. "It is becoming increasingly essential for financial institutions to embrace new technologies to drive innovation and transformation, unlock new business opportunities and stay ahead of the always-evolving regulatory landscape," said Adrian Johnston, senior vice president, Applications, Oracle Asia Pacific. "With Oracle Cloud ERP, OCBC has embraced automation and embedded AI to increase efficiency, expand insights and accelerate decision-making as it expands into new markets worldwide." More than 10,000 organizations, across public and private sectors, turn to Oracle Cloud ERP to run their businesses. Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities and embedded AI that powers touchless processes, predictive insights, and collaborative actions. With financials, accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, and supply chain management & manufacturing capabilities on a single platform, and Oracle B2B - which revolutionizes the way organizations transact, pay, finance, and ship sustainably across the globe – organizations can standardize processes, embrace automation, and increase efficiency. OCBC recently received the Finance Innovation Award in the Finance and Supply Chain Award category at the 2025 Oracle Customer Excellence Awards. 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 About Oracle CloudWorld Tour Oracle CloudWorld Tour is Oracle's global celebration of customers and partners. Join us to discover how to get the most business value from AI, explore ways to increase productivity and efficiency through automation, and learn more about our cloud infrastructure, database, and applications from the people that build and use them. For keynotes, session details, news and more visit or Trademarks Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company--ushering in the new era of cloud computing. View original content: SOURCE Oracle Sign in to access your portfolio
