Artificial intelligence(AI) in Oracle Fusion Cloud Finance

 Artificial Intelligence(AI) Features in Oracle Fusion Cloud

Oracle Fusion Finance integrates various AI (artificial intelligence) features to enhance financial processes, improve decision-making, and increase efficiency. Here are some of the key AI (artificial intelligence) features in Oracle Fusion Cloud:

Artificial Intelligence(AI) Features in Oracle Fusion Cloud Financials/Finance

1. Intelligent Process Automation: 

• Automated Invoice Processing: Uses machine learning to automatically capture, recognise, and process invoices using the IDR (Intelligent Document Recognition) process.
• Expense Reporting: AI-powered tools automate expense report creation, categorization, and policy compliance checks using Oracle Digital Assistant.

2. Predictive Analytics:

• Cash Flow Forecasting: AI algorithms predict future cash flows based on historical data and current financial trends using Predictive cash forecasting.
• Revenue Forecasting: Utilizes predictive models to forecast future revenue, helping businesses plan and strategize more effectively using Auto-predictive planning.

3. Smart Recommendations:

• Defaulting codes: Reduce manual work in invoice entry and speed up processing using Intelligent Account code combination defaulting.
• Dynamic discounting: Dynamic discounting is an arrangement for early payment in exchange for a discount on the invoice amount. In dynamic discounting, the supplier can provide a discount on the invoice if the buyer pays early. The buyer may choose to accept the discount and effect an early payment. The buyer can also propose to make an early payment in exchange for a discount. It is basically a negotiation between the traders to get better credit terms. The discount provided can be fixed or varying. In a fixed discount, the buyer can pay anytime within the agreed time frame and enjoy a fixed discount. In varying discounts, the percentage of discounts reduces as time passes. The earlier the payment done, the higher is the discount. Dynamic discounting is typically applied on an invoice-by-invoice basis, with the discount generally expressed as a percentage of the payable value of the invoice.

Some of the key benefits of Artificial Intelligence in Oracle Fusion for Financials/Finance

1. Automate Smarter

Enhance usability and efficiency by automating core financial processes and providing guided actions for users, which also helps in reducing human errors.

2. Operate Smarter

Optimize business processes across procurement, payables, receivables, supplier management, and treasury management to deliver insights and agility.

3. Influence Smarter

Free up time and resources by optimizing processes, allowing finance teams to play a larger role in driving corporate initiatives, improving outcomes, and influencing business strategy.