AUSTIN, Texas, May 13, 2021 /PRNewswire/ -- Oracle Fusion Cloud Enterprise Resource Planning (ERP) has been named a Leader in 2021 Gartner "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises" for the fifth consecutive year. Of the 10 products evaluated, Oracle is placed highest for its ability to execute and is placed furthest to the right for completeness of vision. A complimentary copy of the report is available here.

According to the report, "Leaders demonstrate a market-defining vision of how core financial management systems and processes can be supported and improved by moving them to the cloud. They couple this with a clear Ability to Execute this vision through products, services and go-to-market strategies. They have a strong presence in the market and are growing their revenue and market share. In this market, Leaders show a consistent ability to secure deals with enterprises of different sizes and have a good depth of functionality across all areas of core financial management. They have multiple proofs of successful deployments by customers, both in their home region and elsewhere. Their offerings are often used by system integrator partners to support financial transformation initiatives. Leaders typically address a wide market audience by supporting broad market requirements. However, they may fail to meet the specific needs of vertical markets or other, more specialized segments, which might be better addressed by Niche Players in particular."

In addition, the report states "Gartner's client inquiry data shows that interest in CCFM suites is increasing significantly. Many application leaders and senior finance users believe that moving to the cloud will enable them to easily avoid the challenges they face with on-premises core financial applications — such as cumbersome UIs, too much customization and expensive, hard-to-manage upgrades."

"Our world has been radically altered this past year and our customers have successfully pivoted against all challenges to accelerate their finance transformations and modernize their business processes in the cloud," said Rondy Ng, senior vice president of applications development, Oracle. "We are privileged to be acknowledged by Gartner for a sustained half decade of Cloud ERP leadership. We believe that this validates our product strategy and customer centricity, our focus on continuous innovation, and recognizes the confidence our customers place in Oracle Cloud ERP."

Oracle Cloud ERP is directed towards a vision of touchless operations, continuous forecasting, and an enhanced conversational experience. Our machine learning and artificial intelligence investments in each update are designed to enable CFO's and their Finance teams to shift from an operational to a more strategic mindset. Recent innovations include Intelligent Account Combination Defaulting, Intelligent Performance Management, and additional digital assistants including an expanded collaboration platform with Microsoft Teams.

More than 7,700 organizations across a wide range of industries and regions have adopted Oracle Cloud ERP to drive their finance transformation. With Oracle's software-as-a-service (SaaS) delivery model, customers can quickly and easily take advantage of on-going quarterly innovation updates in artificial intelligence, machine learning, digital assistants, and analytics, helping businesses get faster and smarter every 90 days without any downtime or business disruption.

Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities, including financials, accounting hub, procurement, project management, enterprise performance management,  risk management, and subscription management. With native integration to the broader Oracle Fusion Cloud Applications Suite, including Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM) and Oracle Advertising & Customer Experience (CX) applications, Oracle Cloud ERP provides a complete solution to help customers increase productivity, reduce costs and improve controls. Oracle Fusion Applications are driven by five tenets focused on a customer-first mindset, with the industry's most complete cloud, built on the best technology platform, delivering the fastest innovation, and a modern user experience for our customers.

Oracle has garnered consistent industry recognition for its finance and performance management applications. Oracle was recently named a Customers' Choice Vendor in the 2021 Gartner Peer Insights 'Voice of the Customer': Cloud Financial Planning and Analysis Solutions¹. Additionally, Oracle was named a Leader in October 2020 Gartner  "Magic Quadrant for Cloud Financial Planning and Analysis Solutions²" and was named the sole Leader in June 2020 Gartner  "Magic Quadrant for Cloud ERP for Product-Centric Enterprises³" for the second consecutive year.

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Oracle
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¹ Gartner, Gartner Peer Insights 'Voice of the Customer': Cloud Financial Planning and Analysis Solutions, 11 March 2021
² Gartner, Magic Quadrant for Cloud Financial Planning and Analysis Solutions, Robert Anderson, Greg Leiter, John Van Decker, 6 October 2020
³ Gartner, Magic Quadrant for Cloud ERP for Product-Centric Enterprises, Tim Faith, Duy Nguyen, Denis Torii, Paul Schenck, Christian Hestermann, 22 June 2020

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SOURCE Oracle