An Overview of the B2B Automation Capabilities of Oracle Cloud ERP
Though business-to-consumer (B2C) transactions have progressively become quicker and more convenient for organizations and consumers alike, business-to-business (B2B) transactions continue to be highly intricate and inefficient. Oracle’s integrations with banking, logistics, and digital service providers within Oracle Cloud ERP aim to integrate their services, automating and streamlining end-to-end B2B transactions for over 45,000 Oracle Cloud ERP customers worldwide. In this blog post, we’ll explore how B2B transactions can be optimized and automated within Oracle Cloud ERP.
Oracle B2B allows for integrated finance and payment capabilities into Oracle Cloud ERP so that Cloud clients gain straightforward access to goods and services from suppliers. This can help organizations grow their business and offers greater integration capabilities with banks which can enhance offerings and produce faster, more personalized services and goods. Oracle’s enhanced B2B payments, purchasing, Procure-to-Pay (P2P), and invoice/receiving capabilities grant organizations the ability to automate what can be an otherwise tedious and highly manual process. The below P2P example showcases the many touchpoints a simple procurement request can have.
P2P Process Example for B2B Interactions
In this example, there are many touchpoints for a seemingly simple request. There are no less than four interactions and messages sent between businesses in order to procure a laptop for an employee. If not automated, these interactions can take up valuable resource time for creating and sending Purchase Orders to suppliers and processing receipts and invoices.
Cloud ERP streamlines these B2B transactions by reducing manual labor and limiting opportunities for errors by automating several of these steps and interactions. In leveraging ERP software, the only manual process in this example was the creation of the procurement request. Ideally, this is totally automated after the initial request is made. The ability to automate key points of contact when going outside the organization is a huge draw of Oracle’s B2B integration capabilities.
Toward the end of the P2P process, bank connectivity becomes particularly important. Setting up all necessary bank integrations is key to successful B2B automation, and ensuring that Cloud ERP and your organization’s banks are communicating efficiently and accurately is necessary to ensure B2B transactions are able to be automated. To learn more about Bank Connectivity, view the recording of this webinar “Demo: Elire BankBridge: Complex Solutions Made Easy” here.
The complexity of B2B transactions persists as a challenge to many enterprise-level organizations. This blog post has delved into how Oracle Cloud ERP B2B automation empowers organizations by seamlessly integrating finance and payment capabilities, automating procurement processes, and minimizing manual touchpoints in intricate workflows. The highlighted Procure-to-Pay example demonstrates the multitude of steps involved in a seemingly simple request, emphasizing the potential for resource drain and errors without proper automation. The ability to integrate Oracle B2B for integrated finance and payment capabilities is the key to getting the most out of your Oracle Cloud ERP investment. By leveraging B2B, Cloud clients gain straightforward access to goods and services from suppliers.
Ensuring that all bank integrations are set up accurately is crucial to successful B2B process automation. To learn more about Cloud ERP B2B and bank connectivity, reach out to [email protected] and request more information on how Elire can assist you in your cloud optimization efforts.