Oracle's newest pre-built procurement analytics capabilities within Oracle Fusion ERP Analytics provide executives and category managers the comprehensive visibility into spend, supplier performance, and operational efficacy required to remain competitive. This offering brings finance and procurement data together, providing CPO and CFO organizations with in-depth spend, purchasing, and delivery insights from a single source of truth.
Procurement leaders must navigate an increasingly complex environment characterized by higher customer expectations and supply chain volatility. For many procurement teams, providing company stakeholders uninterrupted access to high quality goods and services has become a precarious balancing act; buyers must consider a multitude of factors – ranging from cost savings to sourcing risks – when making purchasing decisions.
It's no surprise that, according to the most recent Deloitte Global CPO survey, 38% of Chief Procurement Officers (CPO's) cited organizational silos among the top three scenarios that present the "greatest risk" to their respective organizations.
Access to cross-functional insights across the organization have become a necessity, enabling procurement professionals to execute with certainty amidst fast-moving markets. The ease with which the procurement team can blend finance, purchasing, and supplier data with speed and accuracy has a colossal impact on business performance.
When it comes to procurement technology solutions, functionalities that support purchasing alone are no longer enough. Oracle's latest procurement analytics solution enables CPO's to more fully understand external risk factors and internal capabilities, allowing organizations to pivot when needed.