Oracle Corporation
12/07/2024 | Press release | Archived content
See how AI agents will work in your ERP and EPM
Finance teams are particularly sensitive to risk and disruption, so we understand why they are sometimes nervous about new technologies like GenAI. "Close enough" isn't good enough in that world. However, when properly deployed with the right security and oversight, GenAI-including AI agents-can actually help finance teams improve the accuracy and integrity of enterprise performance management applications and data. As you'll see in the following four demos, the keys lie in selecting the right tasks for automation, using a combination of internal and external data, and deploying the right AI tool for the job.
1. Document IO AI agent
This demo shows how the document IO AI agent will work in Oracle Fusion Cloud ERP to help automate procure-to-pay processes by ingesting images of sales quotes and creating requisitions. You'll also see improvements in Accounts Payable from capabilities like ship-to address correction, "learning" from previous invoice corrections, and the automatic formatting of remittance advice. You can watch the demo video on Oracle's YouTube channel. (Note that this is an expanded version of the "Fusion Applications: Document IO Agent in Cloud ERP" demo available in the article "AI agents are hot-see how they'll work in ERP, HCM, and CX.")
Why it matters: This demo showcases how the document IO AI agent will process unstructured data-from a photograph and text in an email-and provide the intelligence, translation, and mapping necessary to trigger actions in Fusion Apps, with human supervision along the way. This reduces errors and helps automate complex processes.
2. Ledger agent
This demo shows how an accounting manager can use AI in Oracle Fusion Cloud Financial Management to help resolve a revenue variance near quarter end. The ledger agent alerts the manager to the variance; then the manager interacts with the agent using natural language, instructing it to create a true-up accrual for unshipped orders. The document IO agent (discussed above) helps by creating the journal entry to reflect the latest position. Watch the demo video on Oracle's YouTube channel.
Why it matters: This shows how a combination of AI-based insights (revenue shortfalls) and connected actions (creating new journal entries) can lead to improvements in speed and efficiency. A few things to note:
A proactive notification kicks things off (rather than sifting through reports)
The use of natural language to interact with the AI agent helps identify root causes more easily
AI-created true-up accruals and journal entries require only minimal effort to review
3. Narrative reporting
This demo shows how Oracle AI will help improve financial planning and analysis (FP&A), assisting a finance director with the preparation of a narrative report for a quarterly business review (QBR). Oracle AI automatically creates a draft using a combination of previous QBRs and current finance and operations data. It provides the finance director with insights-and makes it easy to add a clear narrative and charts explaining important issues. Watch the demo video on Oracle's YouTube channel.
Why it matters: This demo shows the contextual data exploration AI agent and the data visualization AI agent working together to help reduce the effort needed to identify, gather, and display information. This allows finance teams to spend their time on higher-value analysis, decision-making, and communication. And because Oracle AI is embedded in Oracle Fusion Cloud EPM, it can use data generated by business applications rather than information that lives "offline" in spreadsheets or third-party reports.
4. Predictive insights
This demo shows how Oracle AI embedded in Oracle Cloud EPM Planning will help finance managers prepare for upcoming quarters. The advanced prediction AI agent uses a company's own private financial and operational data as well as third-party data, which allows the agent to predict a revenue shortfall. Then the contextual data exploration AI agent helps reveal root causes. Watch the demo video on Oracle's YouTube channel.
Why it matters: Although the demo may look like "actuals" from reporting, instead they are detailed predictions created by multivariate AI models and the company's own financial and operations data. The combination of data types-including clean and trusted data from Oracle Cloud ERP-allows the AI agent to help give finance managers visibility into the most likely outcomes. Although we can't show it as part of the demo, the appropriate data privacy security measures are in place.
Summing up
These demo videos help you understand how we're embedding GenAI and AI agents in Oracle Fusion Cloud ERP and EPM. They show how Oracle AI is moving beyond summarization and assisted authoring use cases to deliver AI agents that can address finance teams' pressing needs, helping you automate touchless operations, deliver predictive insights, and take action.