MUMBAI, INDIA: Expanding its On Demand offerings to formalize solutions based on a leading suite of procurement applications, Oracle has unveiled Oracle(r) Procurement On Demand. As part of the Oracle On Demand portfolio, Oracle is delivering industry leading capabilities and an accelerated return on investment while eliminating IT constraints, as it claims in a press release.
This is an adaptive offering that allows customers to utilize the latest version of Oracle's procurement applications without requiring back-end ERP upgrades.

Additionally, Oracle says its Procurement On Demand gives customers the freedom to deploy hybrid models that combine hosted applications with traditional on-premise software deployment based upon the unique requirements of each enterprise. A common applications architecture and standards-based
integration framework between Oracle's Procurement On Demand and Oracle's ERP software deployed on-premise enables seamless integration of end-to-end procurement processes.

Talking on how On Demand Procurement impacts the Bottom Line, it shares that Oracle Procurement On Demand is based on a pre-configured, hosted, and managed deployment of software applications from the Oracle E-Business Suite and Oracle Business Intelligence Applications including Oracle Procurement and Spend Analytics, with Oracle Spend Classification to help uncover cost savings opportunities; Oracle Sourcing and Oracle Procurement Contracts to negotiate and enforce better agreements; and Oracle iProcurement for controlling employee spend and
streamlining processes.

A world class Functional Service Desk provides both buyer and supplier users:The project achieved the benefit target return on investment of between 25 per cent and 30 per cent.
Citing some capabilities it mentions uncovering savings opportunities with spend classification and
analysis; transforming the qualification, administration, and assessment of suppliers; negotiating and enforcing better agreements with online sourcing and contract management; and streamlining buying processes with procure-to-pay automation.

"With this latest offering, customers can optimize their existing ERP investments by deploying Oracle Procurement On Demand in a smoothly functioning hybrid model," said Cliff Godwin, Senior Vice President of Applications Development, Oracle. "This helps procurement departments achieve rapid value while aligning with the platform standardization goals of the IT organization."