Oracle Positioned as a Leader in 2024 IDC MarketScape: Worldwide Cash Management Systems Vendor Assessment
Recognized for comprehensive and configurable SaaS cash management portfolio with embedded AI and ML for more accurate predictive forecasting
Oracle Financial Services Summit, London, UK—Nov 12, 2024
Oracle has been recognized as a Leader in the IDC MarketScape Worldwide Cash Management Systems 2024 Vendor Assessment1. Oracle offers a comprehensive solution suite that helps banks with cash flow and working capital management.
“Oracle's recognition as a Leader in the IDC MarketScape affirms our commitment to providing banks and their corporate clients with a comprehensive, innovative cash management platform,” said Sonny Singh, executive vice president and general manager, Oracle Financial Services. “Optimizing cash flow across currencies, countries, legal entities, and time zones is a complex challenge. Our platform empowers banks to aggregate data in real-time, structure accounts, and deliver effective liquidity control to their corporate clients. This is enhanced by our ability to leverage AI in critical areas such as cash flow prediction, which changes the value proposition for banks’ corporate clients by an order of magnitude.”
Oracle’s integrated portfolio empowers corporates to optimize working capital, improve cash flow forecasting accuracy with embedded AI and ML, and streamline complex enterprise-wide cash management through virtual accounts. Customers gain continuous control over their financial positions with customizable, real-time dashboards and alerts. Further enhancements to accounts receivable and payable include natural language processing (NLP)-based document processing and automated fund allocation.
Oracle’s cash management portfolio can run on Oracle and third-party clouds or on-premises, giving banks choice in how and where they deploy.
“Oracle constantly explores innovative technologies and features and carries out experimentation on multiple fronts, including AI and GenAI, undertaking collaborative initiatives with customers and the industry ecosystem,” wrote Maria Di Comite, Research Director, IDC Financial Insights.
IDC subscriber clients can view the 2024 IDC MarketScape Worldwide Cash Management Systems Vendor Assessment report here: https://cdn.idc.com/getdoc.jsp?containerId=US49434723
1 IDC MarketScape Worldwide Cash Management Systems 2024 Vendor Assessment, doc #US49434723, September 2024 - By Maria Adele Di Comite, IDC Research
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About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.
About Oracle Financial Services
Oracle Financial Services provides solutions for retail banking, corporate banking, payments, asset management, life insurance, annuities, and healthcare payers. With our comprehensive set of integrated digital and data platforms, banks and insurers are empowered to deliver next-generation financial services. We enable customer-centric transformation, support collaborative innovation, and drive efficiency. Our data and analytical platforms are designed to help financial institutions drive customer insight, integrate risk and finance, fight financial crime, and comply with regulations. To learn more, visit our website at: https://www.oracle.com/financial-services/
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