Top 9 Oracle ERP Modules You Should Ask a Custom ERP Software Developer

Why You Need Oracle ERP Modules Integration: 9 Benefits of Oracle ERP Cloud Module

Adapting future-oriented changes at the earliest keeps businesses performing and growing as per the expectations despite the intensifying challenges of the marketplace. Oracle Fusion Cloud ERP (Enterprise Resource Planning) is an advanced and complete cloud ERP module suite designed to provide the teams advanced capabilities like AI-driven automation of manual processes, real-time data analytics to react to changing market demands, and automatic updates to keep you stay informed with competitive advantage. The top nine benefits of Oracle Fusion Cloud ERP modules you should ask to a custom ERP software developer in 2024, are-

1. Seamless supply chain management

2. Reduced manual work

3. Built-in risk management

4. Comprehensive view of the organization’s performance

5. Dependable big data analytics

6. Seamless and easy integration with other software

7. Reduced financial overhead of managing systems across the organizations

8. Objective-oriented better and faster reporting with flexibility

9. Robust cloud infrastructure with scalable and flexible SOA (Service-Oriented Architecture)

9 Oracle ERP Modules You Must Consider to Have in 2024

Oracle Fusion Cloud offers a number of ERP modules; custom ERP software developers customize these Oracle modules to help businesses stay competitive by bridging the efficiency gaps; here I list nine Oracle ERP modules that you should consider integrating in the existing system in 2024 to achieve a sustainable growth rate with satisfactory profit-

1. Oracle Financial Management Module:

• The important ERP Oracle module allows you to understand your current financial status and future financial needs.
• The features like tracking accounts payable (AP), accounts receivable (AR), and general ledger management make it an effective tool for error-free financial management.  Oracle Financial Management module generates and stores customized-to-need financial documents including payment receipts, tax statements, and balance sheets.
• The widely adopted Oracle ERP module automates several tasks related to vendor payments, billing, cash management, and account reconciliation; this capability help the accounting department to manage and comply all the finance related information properly as per compliances.
• Oracle ERP Financial Management module stores the data and provides analytical details in the required format to help you for accurate financial planning and analysis.

2. Oracle Procurement ERP Module:

• Also known as the Oracle ERP Purchasing module, the Oracle ERP Procurement module helps organizations to buy the products/ materials required for uninterrupted manufacturing, supplying, and selling.
• The bespoke Procurement ERP module, developed by custom ERP software developers, helps businesses to manage a list of qualified vendors
• It helps organizations to categorize the listed suppliers/vendors based on particular item category.
• It helps maintaining healthy relationships with suppliers besides automating inviting quotes, tracking quotes, and analyzing/comparing the quotes.
• Oracle ERP Purchasing module, the Oracle ERP Procurement module helps purchasing departments for preparing and releasing purchase orders.
• It tracks the issued purchase order and automatically updates the inventory once the ordered goods arrive.

3. Oracle Cloud SCM (Supply Chain Management) Module:

• Oracle ERP Supply Chain Management module includes a number of modules to streamline, simplify, and automate procurement, manufacturing, warehouse management, inventory management, and order management.
• Oracle Cloud SCM module, tailored by custom ERP software developers, tracks the status of supply across the supply chain encompassing the status of manufacturers, distributors, suppliers, sub-suppliers, retailers, or consumers.
• It also helps organizations manage products returned, refund, and replacement.
• Oracle Cloud ERP SCM module is bundled with many sub-ERP modules like manufacturing, maintenance, order management, logistics, product lifecycle management, procurement, IoT, and blockchain, etc.

4. Oracle ERP Project Management Module:

• Oracle ERP Project Management module enables project managers for monitoring and managing all the crucial aspects of projects.
• It enables project managers to create, manage, and view work plans.
• It helps project managers to track the progress of a particular project.
• Oracle ERP Project Management module supports the managers to manage budgets based on future-oriented data-driven insights to keep the projects going on until successful delivery.
• It sends automated project status report and alerts to the concerned project stakeholders.
• It helps project managers to manage issues like new concerns, emerging problems, and new queries about projects.
• Oracle Project Management module, fine-tuned by custom ERP software developers, simplifies updating work plans according to the latest project progress reports.

5. Oracle Enterprise Performance Management Module:

• Oracle Fusion Cloud Enterprise Performance Management (EPM) module helps the concerned professionals plan across key departments including finance, supply chain, sales, HR, etc.
• It streamlines the financial processes to expedite the tasks while eliminating considerable manual work and errors.
• It helps the concerned professionals in different verticals to make informed decisions quickly.
• It helps you to identify the most profitable products and business lines to focus, and plan better for the particular areas.
• ERP Oracle EPM module helps you get tailored-to-need narrative-oriented internal and external information for authoring and publishing regulatory reports.
• Oracle EPM module is empowered with enterprise data management feature; it provides insights for business change management.

6. Oracle Professional Services Automation (PSA) Module:

• Oracle PSA module automates financial processes and maximizes profits.
• It helps you for unified human capital management to develop and sustain a dedicated workforce by nurturing employees.
• It supports and guides professionals to improve services, maximize revenue, and optimize utilization of resources.
• Oracle PSA module for ERP provides data-driven actionable insights to help you get more clients and improve customer satisfaction.
• The automatically generated data-oriented KPIs help you align planning, budgeting, and execution plans.
• Oracle PSA module for ERP provides one unique user experience across the organization while assuring robust data security.

7. Oracle Risk Management Module:

• Oracle Risk Management module is powered by artificial intelligence (AI) and machine learning (ML).
• It supports finance teams to enforce audits, protect against potential risks, and prevent cash leak.
• It improves the performance and efficiency of teams by cutting down repetitive tasks and manual work requirements.
• Oracle Risk Management module helps professionals to stay updated and compliant by automating several processes like SoD reporting and granting.
• It expedites audit transactions to help professionals identify policy violations, fraud, and errors promptly.
• Oracle Risk Management module helps professionals to streamline well-managed workflows for business continuity planning, audit, compliances, and risk management.

8. Oracle Analytics Module:

• Oracle Analytics Cloud ERP module complements the embedded analytics that comes with Oracle Cloud ERP.
• It provides detailed information about predictive analysis, prepackaged use cases, and KPIs based on historical trends and variation analysis.
• The prebuilt cloud-native analytics module for Oracle Fusion Cloud ERP helps professionals in project management, finance management, and procurement to trace and explore the underlying profitability drivers to improve expenditures and working capital usage.
• It helps the users get general ledger insights to optimize cash flow and improve receivables and payables efficiency based on prebuilt or user-defined tailored metrics.
• Oracle Analytics Cloud ERP module helps professionals to track fixed assets accurately; the driven insights help them monitor and manage capital and operating assets, improve financial forecasts, and optimize returns on assets.

9. Oracle Human Capital Management (HCM) Module:

• Also known as the Oracle ERP Human Resource Management (HRM) module, the Oracle HCM module adds new capabilities for cost-effective workforce management.
• It works as the customer relationship management (CRM) application for employees.
• It helps HR people to record and manage details of all employees like job descriptions, offer letters, task-specific performance, reviews, etc.
• Oracle HCM Module, developed by custom ERP software developers, helps the HR people to streamline and maintain updated details of leaves, paid time off (PTO), sick days, overtime, and other benefits provided by the organization.
• Custom ERP software developers optimize functionalities of the Oracle ERP HRM module to eliminate a lot of inaccurate and duplicate data available in different spreadsheets.

Hiring the best-skilled custom ERP software developers from a reputed ERP specialist company is the key to get the maximum ROI for Oracle ERP modules integration. When hiring custom ERP software developers for Oracle ERP module optimization, do focus on specialization, experience, and stability in delivering Oracle tech stack oriented services and support. As your business grows, you need to incorporate changes in the existing workflow and plans; therefore, you need dependable long-term support from the hired custom ERP software developers.