Intercompany Processes Efficiency Using Oracle Fusion Erp Cloud – A Systematic Review |
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| © 2023 by IJCTT Journal | ||
| Volume-71 Issue-1 |
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| Year of Publication : 2023 | ||
| Authors : Jugander Kumar | ||
| DOI : 10.14445/22312803/IJCTT-V71I1P109 | ||
How to Cite?
Jugander Kumar, "Intercompany Processes Efficiency Using Oracle Fusion Erp Cloud – A Systematic Review," International Journal of Computer Trends and Technology, vol. 71, no. 1, pp. 56-64, 2023. Crossref, https://doi.org/10.14445/22312803/IJCTT-V71I1P109
Abstract
Enterprise Resource Planning systems are the backbone of many firms today. Aggregating business data from diverse departments into one database and letting staff make standard reports improve business procedures. Intercompany (IC) finance is a common practice for any scale of businesses with multiple operations locally or globally. Many ERP systems running on-premises or cloud capabilities have played a vital role in improving IC accounting. Still, in today’s world, IC is more challenging to manage tasks than it used to be a decade before. Many enterprises are running into serious complications that have a real financial impact because of poor IC accountings and practices. There are multiple reasons for the problems, such as increasing competition, global consolidation, integrated supply chains, clashing policies, SEC or country-specific legislation, and many more. Building the right ERP technology plays a unique role as a support function in most organizations, not only the processes it improves for internal management but also in the business it supports. The industrial revolution shifts to a manufacturing economy led to improve production efficiency and required a massive amount of IT investment that smoothened the entire business operations. The use of cloud computing is expanding and increasingly entering enterprises and corporations. More businesses will trust cloud services as they become more refined and welltested. This is essential for storing sensitive corporate data and information in cloud services. A corporation can pay for the services they require and do away with the need to maintain IT infrastructure with cloud-based enterprise resource planning systems. This study aims to systematically review the Oracle Fusion Cloud ERP system to increase an organization's performance efficiency. The performance efficiency is increased when the traditional ERP system is compared with the Oracle Fusion cloud ERP system for intercompany transactions. It helps reduce the cost of expenses instead of purchasing the entire infrastructure.
Keywords
Oracle Cloud ERP, Intercompany processes, Performance, Financial solution, Supply chain orchestration.
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