Take a deep breath. It's Friday. I'm Jordan Parker Erb, and today I'm taking you inside the "complete chaos" at Oracle as layoffs and restructuring roil the database giant.
By the way, apologies for the slight delay this morning — we had a technical issue. (Fitting for a tech newsletter!)
Let's get to it.
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1. Oracle insiders describe "complete chaos" from layoffs and restructuring. Earlier this week, Oracle began a sizable layoff, potentially impacting thousands of employees — and those who haven't yet been laid off are scrambling to figure out whether they'll be next.
The hardest-hit units, current and former employees said, were in the marketing and customer experience divisions. Some marketing teams have seen their headcount slashed by anywhere from 30% to 50%.
In some cases, they said, managers were given the choice of who would get cut, while others had no say in how the layoffs would affect their teams.
The Advertising and Customer Experience team was said to have been cut, too. "The common verb to describe ACX is that they were obliterated," one employee said.
This leaked org chart shows Oracle's cloud leaders after the company's major organizational changes.
A look inside Oracle over the past week.
In other news:
2. The Federal Trade Commission is deepening its investigation into Amazon's Prime sign-up and cancellation process. The FTC sent out subpoenas and other demands for information after Insider reporting. Here's our scoop on what's going on.
3. Axed "Robinhoodies" say they were tipped off to layoffs weeks ago. Former Robinhood employees said they saw signs of belt-tightening — including plans to shrink office space — long before the company laid off 23% of its staff. Five former employees took us behind the scenes.
4. Elon Musk's countersuit against Twitter says the company is operating a "scheme" to mislead investors. Musk argued that he is entitled to drop the deal entirely — and Twitter pushed back, saying the billionaire's story is "implausible." Get the big takeaways.
5. Nike is offering $5,000 employee bonuses for some tech job referrals. Grappling with internal turmoil and a wave of exits, the company announced the new referral program, which has been met with mixed reviews from employees. Here's what we know.
6. Fifteen current and former Apple female employees say the company dismissed claims of misconduct. After the Financial Times reported the HR unit retaliated against some of them after speaking up about the incidents, Apple vowed to "make changes." What we know so far.
7. Startup founders' mental health is crumbling. Dried-up funding and the stress of a turbulent economic year has piled stress on founders who are already trying to do the impossible: build iconic tech companies. Why some founders "are especially not OK."
8. Elon Musk denied that he's planning to build his own private airport in Texas. Local news site Austonia reported last week that an airport could help grow his companies in the region, but Musk said that's "not true" and it "would be silly." Get the full rundown here.
Odds and ends:
9. Mark Zuckerberg is minting an NFT of his Little League baseball card. In a post announcing Instagram's expanded support for NFTs, Zuckerberg shared his own "soon-to-be NFT." See the potential digital collectible of a young Zuck.
10. We broke down how to unsend text messages using iOS 16. iPhone users with iOS 16 will have 15 minutes to unsend a text — and delete it from the recipient's phone. How it works and how to do it.
The latest people moves in tech:
Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.
Curated by Jordan Parker Erb in New York. (Feedback or tips? Email firstname.lastname@example.org or tweet @jordanparkererb.)
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Oracle NetSuite is our pick for the best accounting software product that includes enterprise resource planning (ERP). NetSuite has been a leading brand name in the ERP space for many years. Your business can use it to keep track of your financial data and automate all of your accounting functions. But more importantly, you can use NetSuite's full ERP solution to manage complex business functions on a global scale.
An established business with a lot of moving parts requires an advanced solution capable of managing complex processes, which is where ERP software can help. ERP refers to an integrated software solution used to manage business processes. Although finance and accounting is perhaps the most important part of ERP, other modules include human resources management, sales, marketing and supply chain.
Oracle NetSuite is one of the leading solutions in the industry for ERP. This multifaceted solution can expedite an organization's financial transactions, such as accounts receivable and payable, as well as keep track of a company's compliance obligations. It has many reporting, planning and billing features, and is designed to be used globally and with multiple currencies. It can be easily integrated with other software, including Oracle's suite of business solutions. For these reasons and more, we've chosen Oracle NetSuite as the best accounting software with ERP tools.
Did you know? There are two types of ERP: on-premises ERP (manual installation) and cloud-based ERP (software as a service, or SaaS). Learn more in our article about ERP industry trends.
As an integrated software solution used to manage HR, sales, marketing and supply chain, NetSuite goes far beyond simpler accounting and bookkeeping software. Unsurprisingly, NetSuite was far more complex than mass-market solutions, such as what we found in our review of QuickBooks. Like most of the best accounting software solutions we reviewed, NetSuite displays key business metrics on the main dashboard. As shown below, it's a very busy interface packed with tools and drop-down menus
We found that while NetSuite's ease of use might eclipse that of other ERP solutions, it obviously isn't as user-friendly as basic solutions geared toward small businesses. NetSuite's complexity means that many business owners may need to consider hiring a consultant to help them navigate the software and make full use of its capabilities. That said, the steep learning curve belies extremely powerful tools and capabilities that you simply won't get with cheap alternatives.
If you plan to use Oracle NetSuite as part of a larger ERP solution, you can integrate your accounting processes with other functions, such as inventory management, for a complete view of your business's income and expenses. Here is an overview of the key features of Oracle NetSuite's accounting solution.
NetSuite helps businesses design and implement financial processes with their accounting software. It provides the ability to seamlessly connect accounting functions with management systems. Managers have real-time access to their financial data, giving them the ability to create reports or address delays.
Its general ledger gives organizations the ability to input and monitor all of their financial data in a customizable ledger. Through the general ledger, users can report functionality, enhance audit trials and create support for new management.
NetSuite's accounts receivable and payable features integrate all financial data into an easy-to-use system that functions automatically. They also have management programs for taxes, fixed assets, cash and payments.
If you have multiple clients, vendors or partners, NetSuite can streamline your billing infrastructure. It gives you control and flexibility over your billing process through a centralized framework that includes transactions, subscriptions and projects that go directly to the billing engine. The billing function also allows you to create and manage subscriptions and recurring billing.
NetSuite helps you comply with accounting standards to report financial results in a timely manner. The revenue recognition services enable you to schedule, calculate and report revenue on financial statements swiftly.
Through its planning and budgeting functions, NetSuite can help you plan for your business's financial future. One really cool function is that NetSuite can use your business's data to forecast revenue and what-if scenarios, as well as produce budgets. The system can also take your current data in future projections and generate reports.
Running your business internationally or introducing your products and services into an international market can present challenges. Through NetSuite's financial engine, you can manage your business finances across your organization globally. We like that the software comes with multiple language interfaces that can help you bridge communication or language gaps.
NetSuite also offers a multicurrency management system that supports over 190 currencies. The software automatically calculates the exchange rate for real-time conversion. It also provides a variety of payment options to resolve international transactions seamlessly.
NetSuite helps organizations set up and monitor their systems so that they comply with their company's government risk and compliance (GRC) programs. It provides the ability to change systems as your company scales and is audit ready so that any financial issues can easily be viewed and investigated. NetSuite complies with regulatory requirements such as ASC 606, GAAP and SOX.
The program can also transform your GRC program in real time by establishing a sustainable risk-management and compliance process. This feature can save businesses money in the long run, as it can predict major issues.
As an ERP platform, Oracle NetSuite offers seamless integration with all modules (accounting, inventory management, customer relationship management (CRM), human capital management, etc.) available on the platform. NetSuite integrates with many leading business software providers and offers open APIs for new integrations.
To integrate NetSuite with other business software, a dedicated implementation team is available for an additional fee. The team can also develop additional integrations and project management planning.
One unique feature is Oracle NetSuite's warehouse management and fulfillment module, which helps businesses control inbound logistics, outbound logistics and warehouse inventory management. Using NetSuite, businesses can generate and send purchase orders to their suppliers. They can also set high-priority tickets to an "expedite" list for faster processing.
Outbound logistics tracks goods leaving the warehouse, which are shipped directly to stores or consumers. This tool includes a "pick, pack and ship" feature, which informs warehouse employees and distribution employees that a product is ready for transport. As an item moves through the warehouse, Oracle NetSuite updates its records to reflect the accurate number of quantities remaining in your inventory.
Did you know? "Supply chain distribution" and "logistics" mean two different things, although the two terms are often used interchangeably. Logistics is the process of planning how products will get to their destinations, while distribution is the actual process of getting them there.
Logistics tools are dependent upon accurate inventory management, which incorporates barcoding, batch and serial tracking to determine where items are located in a warehouse. We were especially impressed by how seamlessly the process fits together. When employees scan a received product into the storage facility, they move it from the loading dock to the appropriate lot, aisle and bin. Once placed, an item is scanned again, and Oracle NetSuite automatically updates its records with the location of the item and the date and time it was scanned.
Once an item is stored in the warehouse, Oracle NetSuite regularly alerts staff to perform "cycle counts," or inventory audits. These audits reconcile the actual quantity of stock in storage with the records maintained by Oracle NetSuite's inventory-tracking tool. Oracle NetSuite's auditing features are also designed to streamline inventory audits by cataloging products based on their value, quantity and specific characteristics, like color, size, material and type.
The order-management tool helps warehouses ensure an adequate quantity of each item is always on hand without over-ordering and ending up with deadstock, or products that cannot be sold promptly. NetSuite automatically analyzes historical sales and logistics data to determine optimal reordering points for each product, replenishing stock to an optimal threshold when it runs low. NetSuite also accounts for lead times identified through the inbound logistics tools, factoring in how long it takes suppliers to fulfill new orders and adjusting the minimum quantity accordingly.
Oracle NetSuite also includes a multi-location management tool, which we found useful for a warehouse that supplies several locations. Through lot tracking, bin tracking and serial tracking, you can monitor the flow of goods across your entire business in real time, and NetSuite automatically adjusts optimal stock levels to support demand across all your locations.
Oracle NetSuite's platform consists of inventory management, financial management, point-of-sale, CRM and employee management software. Depending on the specifics of your business – such as the size of your company, its revenue and the modules you require – the price can vary greatly.
To get an accurate price estimate, you'll need to speak with an Oracle sales representative, who will prepare a custom quote for you based on your company size, industry and specific needs. Based on our research, the platform starts at approximately $99 per user per month plus a $999 monthly licensing fee. While this base price can be used as an estimate, your costs may vary significantly.
Oracle NetSuite may not be the best choice for small businesses with more basic accounting and bookkeeping needs. Midsize, scaling, large and international businesses are better positioned to benefit from Oracle NetSuite's ERP platform. If you're running a larger company, NetSuite's integrated ecosystem can save you time and money that would otherwise be spent acquiring and integrating a hodgepodge of software solutions from a variety of vendors.
During our research into NetSuite, we found that onboarding isn't the simplest process. As with pricing, you will have to contact Oracle NetSuite's sales team for a free product tour. You can also view a variety of product-specific demos on NetSuite's website. However, unlike most of the other software packages that we examined, NetSuite does not offer a free trial.
Implementing NetSuite as a brand-new user likely won't be a walk in the park for most business owners. An entire cottage industry of consultants exists solely to assist businesses with implementing NetSuite and tailoring it to fit their needs. Although businesses that use NetSuite are generally larger and can probably absorb these extra costs, it's something to keep in mind for anyone considering NetSuite.
Oracle NetSuite provides extensive customer service for all of its software, including accounting systems. It also provides education services, where users can learn about the software they're using and get up to speed on any new features or versions of their products. These services come in the form of both documents and online classes.
Real-time support for industries, as well as individual users, is available 24/7. The chatbot on NetSuite's website can provide users with simple explanations or connect them with a customer service representative.
If you are a smaller business or on a tight budget, consider investing in a dedicated accounting software solution that can be integrated with your other systems and keep track of your finances.
With such a comprehensive set of features, Oracle NetSuite's major limitation is not so much the software itself. In our view, the drawbacks are the high price point and steep learning curve. Implementation is likely to take a very long time; it may take months, or even years, to fully master the software and its abilities. It is not the most user-friendly system, despite a very wide feature set. This means that Oracle NetSuite is not an appropriate choice for small businesses with limited resources, but it is a great choice for established businesses with lots of resources.
Small business owners with less complex needs might want to consider lower-priced alternatives for their accounting and bookkeeping needs. Aside from QuickBooks, our FreshBooks review found that software great for handling invoicing, while our review of Zoho Books revealed it to be a fantastic tool for automating processes.
Tip: Read our review of Xero to learn about an alternative software package that we believe is a solid fit for a growing business.
To generate our quantitative score and use case, we reviewed software features such as payment and invoicing capabilities, the number of integrations, mobile apps, report generation, supported user count, and customer service. We also assessed pricing and the availability of free trials. Sources of information included in this review were gleaned from the company's website and software demos. Additionally, we studied user reviews for independent opinions on the software's pros and cons. For ERP specifically, we focused on how the breadth of the product creates a unified system that will help businesses meet complex challenges.
Oracle NetSuite is an ERP platform with numerous modules to manage financials, HR, inventory, supply chains and more.
The Oracle Corporation acquired NetSuite in 2016; the software package is now formally known as Oracle NetSuite.
Potential customers will need to contact Oracle for a quote, although $99 per user per month plus a $999 monthly licensing fee is a ballpark figure.
We recommend Oracle NetSuite for …
We don't recommend Oracle NetSuite for …
Log in to the Portal server as an Administrator. Oracle requires that you are logged in using an account that has administrative privileges.
Download the executable file to your Windows Portal server.
Double-click the executable file.
The version number could be, for example, 193000
The InstallAnywhere installation wizard will begin extracting files.
Once the files have been extracted, the Introduction window will display. Click to begin the installation process.
Read and accept the end-user license agreement (EULA) and click .
Review the , which summarizes the product components that will be installed and describes the available and required disk space for these components.
The requirements shown on the following example screen may not match the requirements displayed on your installation screen. Refer to the actual screen for the current requirements.
Click to start the installation/upgrade of the Oracle application binaries, which internally detects the existing Oracle installed on server, checks the version compatibility, and places files into the C:\opt folder on your Windows server.
The progress bar displays the component being installed and the progress of the installation overall.
The command prompt window will briefly display the process being executed.
The Oracle application binaries will be installed on the C:\ drive. The database itself, however, can be created on an alternate drive during the Portal installation.
Enter the name of a valid user account for the Oracle Service User and click . For the upgrade process, the Oracle Service User must be same as the user used during existing Oracle Service user.
At this point, the Oracle upgrader will take over the session and start its process in the Windows command prompt window.
When the Oracle Universal Installer completes its process successfully, press .
The command prompt window once again takes over to start the Oracle services.
In the Starting Services command prompt window, enter the password for the account that you have identified as the Oracle service user. You will not see your keystrokes echoed in the window.
You will be prompted twice for the Oracle Service User password, but the prompts are different:
Enter password for Oracle service user:
Enter <account name>'s password:
If you enter an incorrect password, you will be prompted to enter the correct password. If you enter the incorrect password too many times, the account can get locked.
See Account lockout.
Return to the InstallAnywhere window and click .
Update the portal.properties file with the new Oracle connection string.
See Task 4: Installing Portal application binaries (Windows).
Uninstall the Oracle application binaries
You may need to uninstall Oracle if you are moving the Portal and database to a new Windows server.
See Oracle already exists on the portal server.
Throughout this process, there may be some messages indicating a failure to delete a file or directory because it is in use. These messages can be ignored, as subsequent steps in the process will remove them.
Go to the Oracle installation folder to access the uninstaller that is relevant only for Oracle 19c.
This process not only removes the files from the c:\opt\Oracle12cSetup folder, but it also removes all references in the operating system, such as registry entries.
Six months ago, at Oracle Live, Oracle talked about its plans to bridge the sales and marketing gap with the help of AI and automation. During that event, Larry Ellison talked about how the CRM (or sales automation system) needs to evolve, arguing:
The sales automation system has value. It keeps track of your opportunities, keeps track of your contacts. It allows you to communicate with management and say, 'I expect these deals to close in the quarter.' It's really a management tool for individual salespeople and their bosses to make estimates: how many deals will close in the quarter, and figure out what revenues will look like in the quarter.
Now, that has value. But the sales system does not increase sales. It doesn't automate sales. It automates sales, forecasting and improves communication. But what we want to do is actually build systems that help you sell more.
To get to this point, Oracle started by creating a new way for marketing to generate qualified leads to send to Sales with the launch of Oracle Fusion Marketing. I'm not going to dive into the details of Fusion Marketing because Jon did a great job of that himself. But what happens once Sales gets those leads? Something needs to change to help them work with them - that's the concept at the heart of the release of Oracle Fusion Sales.
At an Oracle Live event: The Future of CRM: Engineering Connected Sales Experiences, Rob Tarkoff, Executive VP & General Manager, Oracle Advertising and Customer Experience, talked about the need for a tighter hand-off between Marketing and Sales (and how rare that is today). For that to happen, a transformational approach to managing sellers is needed.
Tarkoff referenced an Oracle study of 200 sales professionals that found 86% want s
Sales and Marketing to work more closely, and 88% need the tools and technologies to make that happen. It's true that there are plenty of marketing technologies to help Marketing and a growing number of sales technologies to help Sales, but the integrations between the two are not always that ‘integrated’ or indeed useful.
Not only are sellers wary of the leads passed on by Marketing, but they are spending a lot of their time going in and out of different technologies to manage routine processes in addition to the work they need to do to work with prospective customers properly.
Oracle's answer to these challenges is Oracle Fusion Sales, dubbed “the next generation of CRM”. So what does the next generation of CRM look like? Katrina Gosek, VP, Oracle CX Product Strategy & Marketing, took me through the details.
Gosek said that Fusion Sales shifts the CRM from a system of record to a tool that will help sellers sell more. It does this in a few ways.
First, a new user interface makes it much easier to see what's happening with an opportunity. If you're accustomed to the busy interface of Salesforce, then you might appreciate the simplicity of this one.
The opportunity screen provides a high-level look at all the data around this opportunity, from activity by the account to sales activities, contacts, products purchased, services, billing, and more. The Sales rep can drill down further if they want to see more detailed information in any particular area.
The left-hand side of the screen provides what Gosek calls “guided selling”. These are guided workflows based on best practices and past deals (or built from industry templates). Guided selling is a useful feature for new salespeople coming in to help them learn faster and smarter, but it's also useful for more seasoned salespeople.
As Gosek pointed out, sellers still struggle with a predictable path to success because the models are continually changing, the groups involved are changing, and there's no one right now to move forward. But data can help make the process easier.
Underlying Fusion Sales is data - data from existing deals and opportunities, as well as past deals. Leveraging AI, the application can bring forward the best recommendations that help sellers move the opportunity forward. So, for example, it can recommend the next step in the process, whether that's making a phone call or email, creating a quote, or scheduling a demo.
And then there's the automation that takes the mundane, manual processes away from the seller. For example, Zoom meetings can be launched from within the Fusion application, and all notes, transcripts, and replays are automatically added to the activity for that opportunity. If you make a phone call from within the application, that call and any call notes are added. Let's say you made a note to schedule a demo meeting for a specific date and time. The application guides the seller to schedule the meeting as a next step and automatically fills in as many of the details as possible based on information in the notes.
Another automation feature is the creation of quotes and proposals based on customer data and past deals. Gosek explained that historical deal data related to similar closed deals, similar price points, and the combination of products sold together is used to help automatically generate a proposal or quote that the seller can review and customize.
The AI provides an estimated closed win rate and can suggest changes to increase the potential of closing the deal.
Other features in Oracle Fusion Sales include:
The overall goal of Fusion Sales is to supply sellers one place to work that can perform many of the manual, mundane tasks and let the sellers focus on the work needed to win new sales. An action bar discretely hides additional functionality (like creating a deal room), so the seller isn’t overwhelmed with the interface. In addition, the tight integration with Fusion Marketing surfaces what Gosek called the 'conversation-ready' opportunities, so sellers spend their time with the best potential prospects.
I've helped salespeople with their processes. I've worked in Salesforce and helped set up different sales technology. It's often a convoluted process, working through multiple tools with little to no integration. Oracle Fusion Sales changes that, and I was pleasantly surprised with the clean, easy-to-understand UI and the guided selling.
The digital sales room didn't surprise me. I recently covered Drift's new Deal Room, and the two are very similar. And there are others too. This sales experience is so late in coming, but at the same it, it's timely. As Gosek said, a lot more selling is happening virtually, and even when we get back to more in-person meetings, that digital experience isn't going away. These deal rooms will become much more popular and widely used, especially when the buying team is large and distributed.
I'm all for AI and automation if it allows us to focus our efforts on the more critical work in marketing and sales. However, I am also keenly aware that for AI to work well, you need the right data. Oracle is pulling together a lot of data from different applications to ensure its AI is providing the best insights and recommendations, but a company needs to have a sufficient amount of customer data to work with for the AI to work well.
WorkForce Software wins the Visionary Award for ISV Partner of the Year, an Oracle Cloud HCM HR Heroes Award, by changing the way customers benefit from greater automation, productivity, and efficiency through the use of cloud technology.
LIVONIA, Mich., Aug. 4, 2022 /CNW/ -- WorkForce Software, the first global provider of integrated employee experience and workforce management solutions, announced today that it has been recognized in the Oracle Cloud HCM HR Heroes Awards as the winner of the Visionary Award for the HCM ISV Partner of the Year category. This award celebrates the most innovative technology solution that complements Oracle Fusion Cloud Human Capital Management (HCM) and transforms the customer experience.
For large employers with unique workforce needs such as substantial union, hourly or shift-based employee teams, the WorkForce Suite, powered by Oracle Cloud Infrastructure (OCI), is one of the most reliable, performant, and secure cloud platforms available in the market today. WorkForce Software has one hundred percent of their resources dedicated to delivering modern workforce management solutions for global enterprises—fully focused on innovation and customer value. WorkForce Software is ISO 27001, ISO 27017, ISO 27018, and ISO 27701 certified and EU General Data Protection Regulation (GDPR) compliant making it an ideal workforce management solution for global employers. With pre-built integrations to HR and payroll systems, WorkForce Software delivers functionally rich workforce management capabilities without compromise while helping eliminate exposure to compliance risk.
The past year has presented a unique set of challenges for global employers and employees alike. Employers are navigating continued labor shortages, increased expenses, retention challenges, shifts to remote work, changing employee demands, and demands for progress on worker safety and diversity, equity and inclusion. Many outdated systems, processes, and previous technology investment decisions are hampering progress, driving more organizations to seek a technology solution that connects their workforce to the business – even those working in frontline positions often without corporate email access. The 2021 Oracle Cloud HCM HR Heroes Award recognizes WorkForce Software for its innovative solutions to digitally transform its customers' employee communications and make work more human by leveraging Oracle Cloud HCM running on OCI.
"It takes a visionary to deliver solutions that can help organizations become more resilient, flexible, and positioned for the future," said Yvette Cameron, senior vice president of global product strategy, Oracle Cloud HCM. "WorkForce Software is changing the way customers work with greater automation, and efficiency through the use of technology and we congratulate them on their Oracle Cloud HCM HR Heroes Award win."
"We are thrilled to be recognized by Oracle as their ISV Partner of the Year, especially in a time where there have been such dramatic changes to the way people work." said WorkForce Software CEO Mike Morini. "The WorkForce Suite, powered by OCI, is a comprehensive modern workforce management solution. With customers reporting up to 40 percent performance improvements from deployments in the Oracle cloud, it is essential that every business is executing on their cloud migration strategy to achieve operational efficiency and agility necessary for businesses to remain competitive."
WorkForce Software and its WorkForce Suite were also recently reognized by industry analyst groups with distinguished honors including, WorkForce Software earning the leadership position in Nucleus Research's 2022 Workforce Management Technology Value Matrix report, ranking higher than all other software providers; WorkForce Software was named Champion in SoftwareReviews' Workforce Management Emotional Footprint report for the enterprise market, surpassing all other vendors; WorkForce Software was honored as the Gold STEVIE® award winner in 2022 American Business Awards® for Innovation of the Year – Business Products Industries; The Company's employees ranked them highest to earn WorkForce Software honors alongside Microsoft and Amazon in Comparably's Annual Ranking of Top Companies for having the best product and design departments; WorkForce Software was named a Gold Winner in the Most Innovative Company of the Year Best in Biz Awards 2021 for the Company's innovative and modern workforce management and employee experience platform; WorkForce Software was a Winner in the 2021 Brandon Hall Group Excellence in Technology Awards and received top honors for product innovation and value realized by its customers with its modern workforce management and integrated employee experience platform in the 'Best Advance in Emerging Workforce Management' category; WorkForce Software was also recognized by Ventana Research as Exemplary Value Index Leader for creating the best customer experience and delivering the best return on investment to its global customers.
Explore the Oracle OCI and WorkForce Software Partnership and learn more about WorkForce Software's award winning WorkForce Suite.
About WorkForce Software
WorkForce Software is the first global provider of workforce management solutions with integrated employee experience capabilities. The company's WorkForce Suite adapts to each organization's needs—no matter how unique their pay rules, labor regulations, and schedules—while delivering a breakthrough employee experience at the time and place work happens. Enterprise-grade and future-ready, WorkForce Software is helping some of the world's most innovative organizations optimize their workforce, protect against compliance risks, and increase employee engagement to unlock new potential for resiliency and optimal performance. Whether your employees are deskless or office workers, unionized, full-time, part-time, or seasonal, WorkForce Software makes managing your global workforce easy, less costly, and more rewarding for everyone. For more information, please visit www.workforcesoftware.com.
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) is Oracle's partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork
Oracle, Java and MySQL are registered trademarks of Oracle Corporation.
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Microsoft (MSFT 0.78%) and Oracle (ORCL 0.00%) have created a cloud infrastructure offering that allows for a seamless multi-cloud platform, eliminating previous inefficiencies and providing tools from both companies. Here's how the tie-up could help the pair catch up to Amazon's (AMZN 2.15%) Amazon Web Services (AWS).
About two-thirds of enterprise-level cloud customers use a multi-cloud approach to running their businesses. That may be because they see value in using the tools provided by different cloud providers. Companies may also be forced into a multi-cloud system due to mergers or acquisitions. Either way, using more than one cloud provider can cause inefficiencies when moving data from one provider's platform to another.
Microsoft and Oracle have been working to make life easier for overlapping customers of the two cloud providers. It turns out the pair have been working together since 2019 on a project that linked Oracle's cloud infrastructure to Microsoft's Azure cloud infrastructure. Customers liked having the ability to use Azure's data analytics tools in combination with their ERP software from Oracle, but moving data between the two platforms was time-consuming.
Microsoft and Oracle have since ironed out the data flow issues. Now they're rolling out the combination in a fully integrated format. There are no fees associated with quickly and easily transferring data, but customers are charged for using additional new features available through the partnership.
That means there is likely a significant cross-selling opportunity for both companies. For instance, healthcare customers that Oracle acquired from its recently completed acquisition of Cerner can transition health data over to Azure to use Azure Synapse, its data analytics tool. Likewise, Azure customers can now access tools from Oracle.
In addition to adding interoperability to their new multi-cloud offering, the companies also took user experience into account. Existing Oracle customers will continue to use their familiar interface while using Microsoft tools and vice versa. That way, customers will not need to learn an entirely new system to use the new service.
Amazon's AWS cloud service is far and away the industry leader in cloud infrastructure. The company holds a commanding 33% share. Azure is the runner-up with 21%. Oracle is further down on the list with a 2% share. Each cloud provider hosts data for customers and offers its own set of analytical tools. The combined offering from Microsoft and Oracle could be one of the more robust.
The cloud computing market is expected to grow by over 17% annually through 2030. As new cloud customers join the party, Microsoft and Oracle could capture a larger portion of the growing market in an attempt to overthrow AWS. Valuation could be another bonus for prospective investors.
Based on their forward price-to-earnings (P/E) ratios, both stocks are cheaper than they have been over the last year. Forward P/E looks at expected earnings. Opportunistic investors combing the downtrodden stock market for bargains should have these two stocks on their radars.
Oracle Retail is expanding its portfolio of retail solutions to include Oracle Retail AI Foundation Cloud Service and Oracle Retail Insights Cloud Service to provide brands with enhanced data analytics enabling end-to-end insights-to-action workflows.
Oracle Retail AI Foundation Cloud Service serves as a standalone foundation for analytics as well as the Oracle Retail Analytics and Planning Cloud Services, consolidating the massive volumes of data generated by retail applications across planning, buying, moving and selling and exploiting the analytical value of that data for retailers. Oracle Retail Insights Cloud Service pairs with Oracle Retail AI Foundation Cloud Service to consolidate data, and surface over 20,000 retail-specific measures, metrics and key performance indicators.
“While retailers tend to generate large amounts of data, many are struggling to monetize that data,” said Mike Webster, senior vice president and general manager, Oracle Retail. “Oracle Retail AI Foundation Cloud Service and Oracle Retail Insights Cloud Service will provide clear, actionable insights for retailers to Strengthen strategic decision making, accelerate data analytics strategies and drive drown total cost of operation.”
Retailers are overburdened with data consolidation and preparation, consuming the capacity to focus on discovering and leveraging insights. With Oracle Retail AI Foundation Cloud Service, packaged, yet highly-configurable and extensible, retail AI features automate the consolidation function. Paired with Oracle Retail AI Foundation Cloud Service, Oracle Retail Insights Cloud Service integrates thousands of retail measurements to surface real-time analytics in packaged, easy-to-read dashboards that can run as-is or serve as a basis for configurable self-service dashboards that best suit a retailer’s specific needs.
Retail organizations often struggle to make sense of disparate data spread across multiple siloed platforms. Oracle Retail AI Foundation Cloud Service and Oracle Retail Insights Cloud Service unite all of an organization’s data into a single platform and a central data warehouse, informing merchandising, planning, supply chain, marketing and commerce decisions with trusted, timely, self-service retail insights on not only what has happened but what will happen in the future.
Oracle Retail AI Foundation Cloud Service improves forecast accuracy, promotional performance, assortment fit, inventory productivity, customer-centricity, use of space and ability to rapidly innovate using data science. Key features of Oracle Retail AI Foundation include:
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In a conversation with BusinessLine, Shailender Kumar, Regional Managing Director, Oracle India, said the country is the second biggest market for Oracle and the company already has 500 partners in it. Excerpt:
Oracle has said that it plans to focus on public sector partners. What steps is the company taking in that direction?
Our association with the public sector goes back over 25 years. We have relationships with 18-19 state governments and almost all departments in the Central Government, including the Department of Textiles, Agriculture and the Central Board of Excise and Customs. In all these places, we have done some part of the cloud in the last two decades or more. Especially from a cloud standpoint, we have done a few projects with Niti Aayog. IFFCO (Indian Farmers Fertiliser Cooperative Limited) is a good example of our partnership in the public sector, where we have migrated all its applications to the cloud.
How big is Oracle’s India operations team?
We may have hundreds of people on the ground in India, but then there are thousands of people in the back-end who support either the development standpoint or support projects. We have invested a lot in the last one year and today have more than 100,000 people who are certified on OCI (Oracle Cloud Infrastructure). A lot of these people are from the public sector.
What is your sense of competition in the Indian market and how does Oracle differentiate itself?
From our standpoint, we compete with Microsoft, AWS, and Google in the country. We differentiate ourselves through our whole suite offering. By suite, I mean it includes SaaS, infrastructure and platform. No other company has all three. I don’t think any of our competitors have ERP (Enterprise Resource Planning) or HCM (Human Capital Management). The second differentiator is our approach to multi-cloud. People using, let’s say, Microsoft Cloud or any other cloud, will have other requirements as well. We built this interconnect, so that even Azure customers can access our databases. Similarly, our approach on hybrid cloud, wherein we have infrastructure that can be used on premise, within the firewalls, or we have our data centre. No one else has such flexibility and offerings.
Along with the large-scale growth of the SaaS market in India, incidents of data breach have been on the rise. How has Oracle prepared to fight these threats?
There are two different approaches which an organisation takes -- when we develop a product security is inherent in that, it is part of the development at each and every step. Whereas other organisations develop the product and then security gets added. In our case, security is always on. It’s called a zero trust architecture. Whereas others have such issues, you will never find them in our case. In fact, the reason we work with almost every bank in India is because of our security, scalability and reliability. There has been no instance of such a data breach in our case, for the last 5 years.
What are the new initiatives planned for this year?
We are going to the market, expanding our public sector team and adding people in SaaS. We are expanding our banking team across SAAS as well as the cloud. We have also set up a mid-market team for cloud, which is doing extremely well. We have set up our NetSuite team, which is mainly the ERP for small and medium businesses. In fact, NetSuite was one of the earliest cloud companies to be set up.
Second is investment in our cloud engineers, we are adding 100 cloud engineers to ensure that we are able to provide services to our people. It’s all about solving customer problems, how we help partners. We are adding cloud engineers, and we are adding more partners. So overall, ensuring we are able to provide better services to our customers.
Do small and medium businesses make a significant part of your partners in India?
A majority of our customers in India are SMBs, considering our autonomous capabilities and a security first architecture that is specifically beneficial to SMBs improving security, performance and reducing their costs drastically. We allow businesses to pay only for what they use and this commitment is reflective of the fact that we have a dedicated business unit in Oracle – the Oracle Digital sales team.
Additionally, we have a specialised partner network that works closely with us in helping our customers achieve their business goals. We have also introduced two special programmes for our customers to enable easy migration to cloud. These include Oracle Universal Credits (UC) – this is special pricing through which we’re offering flexible buying and consumption choices for Oracle’s Cloud platform (PaaS) and infrastructure (IaaS) services, and Oracle Bring Our Own Licence (BYOL) – through this our customers can leverage existing software licenses for Oracle PaaS at a lower cost. These programmes have benefited many SMBs to run their most important applications on Oracle Cloud Infrastructure.
Published on July 30, 2022
Auckland-based loyalty, CRM and payment provider Tranxactor Group has switched to Oracle's cloud from AWS, slashing infrastructure costs.
Tranxactor had historically run its ThorTransactor platform on an Oracle on-premises solution, before deciding to move to the public cloud with AWS. However, it found that using mixed environments was not cost efficient.
After evaluating other cloud providers, Tranxactor selected Oracle Cloud Infrastructure (OCI) for its consistent pricing, speed, security, and scalability and had since reduced infrastructure and systems management costs by 75 per cent.
Privately-owned Tranxactor will also use Oracle's enterprise database service to provide brands with rich and immersive customer engagement and loyalty programmes.
Founded in 2002, Tranxactor's ThorTransactor loyalty and CRM platform has processed more than 5.5 billion transactions to-date by more than 23 million loyalty and gift card holders around the world.
Working with major brands such as Westfield, Liquorland, Oporto’s, and Subway, Tranxactor provides connectivity to all customer touchpoints through ThorTransactor, enabling brands to react, incentivise, deliver timely relevant communications and provide real-time rewards.
“Data and the capabilities of digital technology are rapidly changing the customer experience and expectations. With our growth rapidly accelerating, the biggest challenge for us is the scale of our business," said John Norrie, chief executive officer at Tranxactor Group.
"We have a regional footprint, but are not a large multinational corporation, meaning we are often challenged resource wise.”
The move to OCI, would allow Tranxactor to put management complexity to rest as well as the scalability challenges of an on-premises infrastructure.
"OCI gives us the freedom to focus on business growth without having to think through repercussions from spikes in transaction processing and customer interaction when workloads can increase multifold," Norrie said.
“Oracle’s expertise has always been in running the hardest, most complex jobs for customers who require speed and security.” said John Eastman, managing director of Oracle New Zealand.
In addition to running Tranxactor’s core platform, Thor, on OCI, Tranxactor provides an application called Thorlink to deliver real-time connectivity between point-of-sales systems and the ThorTransactor platform.
This supported customers with real-time reward management, digital vouchers and extended features including fraud detection and offline transaction processing for loyalty schemes.
The relationship with Oracle's MICROS Simphony point of sale system was very important because of its strong presence in the quick service restaurant industry and open API framework, Norrie said.
“Our Thorlink application for MICROS Simphony completes the puzzle, enabling us to deliver enhanced capabilities to our customers.”
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