Oracle ORCL announced a partnership with JVCKENWOOD Corporation. JVCKENWOOD is a leader in audio, video and telecommunications manufacturer in Japan.
JVCKENWOOD has implemented Oracle Cloud Enterprise Resource Planning ("ERP"), including Oracle Fusion Cloud Enterprise Performance Management, to help standardize and simplify financial analysis, which will reduce costs, increase productivity and improve controls.
JVCKENWOOD was founded in 2008, with the merger of two leading electronic brands with the aim to provide audio visual systems, services and solutions that provide peace of mind, as well as excitement in the mind of customers. As a result of the merger, the legacy business, with lots of manual systems and complicated procedures, made it difficult for management.
Oracle Cloud ERP will help JVCKENWOOD to create a single integrated finance platform by consolidating multiple systems. This will eliminate manual processes to boost productivity, reduce costs and improve controls.
With this partnership, JVCKENWOOD can now drive connected, accurate plans and leverage artificial intelligence, modelling and use best built-in practices to handle uncertainties in a better way.
This partnership was implemented by Oracle Japan’s Consulting Team and IBM Japan Ltd.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle’s Cloud ERP to Further Boost Top Line
This Zacks Rank #3 (Hold) company is looking to consolidate its market position as a leader in ERP segment, while further boosting its top line. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Oracle have gained 5.3% in the past year against the Zacks Computer and Technology sector’s decline of 15.3% in the same period.
Oracle Enterprise Resource Planning is a complete and futuristic cloud ERP suite that provides teams with advanced capabilities. It uses Artificial Intelligence to automate tasks, which increases accuracy and stays up-to-date with the market.
Oracle always keeps updating its cloud-based ERP with new features to stay up-to-date and provide the best features to its customers. With approximately 1,700 new features and improvements each year, the transition of a company to cloud ERP is not easy. To make this process smooth, there are specialist technology partners with years of experience in the same field.
Every business being different, has its own characteristics, which is why Oracle uses modular architect. Modular architecture caters to different companies according to its distinct needs. Almost 10,000 customers use ERP and some of the notable customers are from Wendy’s, Pizza Hut, Dropbox, Honda and others.
According to a Gartner Report, Oracle ERP is a leader in its market. Its main competitors are Microsoft’s MSFT Dynamics 365, SAP’s SAP business ByDesign, and Workday WDAY.
Microsoft’s Dynamics 365 is a visionary in this market. This product was launched in 2016 and its primary target customers are mid-to-large enterprises. The main strengths of Dynamics 365 include providing a variety of useful financial management solutions, it is focused toward human resource integration and it has advanced procurement capabilities.
SAP’s business ByDesign is a niche player in this market. This product has a different target audience of midmarket organizations which makes it an indirect competitor to Microsoft and Oracle. The strengths of ByDesign are that it is viable for a two-tier solutions for organizations, it is extensible and flexible.
Workday Enterprise Management Cloud is one of the leaders in the market. This product originated in 2008 and its target audience is upper-mid market and tier 1 organizations. Workday is known for its robust analytics, HR capabilities and procurement.
Even though there are more experienced players in the market, oracle has proved to be a leader. The company’s clientele and robust growth solidify its position as a leader even more.
As of Feb 28, 2023, Oracle’s Fusion Cloud ERP reported revenues of $700 million, which is 28% up from the previous quarter in constant currency. Oracle’s NetSuite Cloud also reported revenues of $700 million, up 26% in constant currency.
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