IDR can identify inconsistencies, he said. The IDR component of the suite uses machine learning to scan and report transactions as part of the financial reporting process, and can be trained to read new invoice formats, Lindner said. To tackle one aspect of this problem, Oracle is adding Intelligent Document Recognition (IDR) to its Fusion suite to increase the accuracy of invoice scanning. This variability inflates processing expenses, leads to inconsistent processes, and lowers straight-through processing rates, according to Gartner. “The usage of natural language processing ( NLP) and automated ontologies could save massive amounts of time for enterprises,” Wang said.Įnterprises often use suppliers that have different capabilities when it comes to generating digital invoices.
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The automated classification engine could be handy for enterprises as most expense categories presently require manual identification and tracking, said Constellation Research founder and principal analyst R Wang. Oracle’s machine learning engine is first trained on anonymized data sets, but it learns more specific classification rules after it studies patterns of classification in a particular organization once it is deployed, Lindner said. In an effort to meet this enterprise demand for faster processing and enhanced analytics, Oracle is adding a component in its Fusion suite called Procurement Spend Classification, which uses machine learning to automatically categorize business transactions and provide deeper insights into spending patterns. Machine learning speeds transaction processing The market research firm describes the concept of hyperautomation as an organizational approach to automate as many business processes as possible to draw out maximum value. The worldwide market for technology that enables hyperautomation, which includes robotic process automation, artificial intelligence and machine learning, will reach $596.6 billion in 2022, up from a projected $532.4 billion in 2021, according to Gartner. Gartner calls the trend "hyperautomation." “Organizations at large are really looking to us to help them to improve the speed, the accuracy of the business processes, and really weeding out those mundane, really non-value add tasks as much as possible,” said Juergen Lindner, Oracle's senior vice president of SaaS marketing.Įnterprises often have thousands of unclassified procurement transactions that can skew data in the reporting process, and organizing them manually takes time. Technology leaders are looking for ways to consolidate and analyze data in a manner that provides insights for better category planning, supplier relationships, contract governance and compliance. For more information about Oracle (NYSE:ORCL), visit response to what it says is customer demand for “relentless” automation, Oracle is updating its Fusion Cloud ERP and EPM suite to add features designed to streamline the process of logging and tracking transactions, while offering enhanced, AI-based analytics meant to optimize business processes. Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services. My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.
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To view full details, sign in with your My Oracle Support account.ĭon't have a My Oracle Support account? Click to get started! Click on the button Add Team Members Changes Projects responsibility > Projects: Delivery > Search Projects > find your project numberĤ. The issue can be reproduced at will with the following steps:ġ. When trying to add a team member to the project using the 'Add Team Member' button from self-service page the following behavior occurs: Information in this document applies to any platform. Oracle Project Planning and Control - Version 12.1.3.1 and later R12 Unable to Add Team Member to a Project Since the List of Values (LOV) Displays No Results
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