Jane Edwards
Oracle has unveiled a new cloud-based financial management tool designed to address business, reporting and audit requirements of U.S. federal government agencies.
Built on Oracle’s cloud-based enterprise resource planning software, the Oracle Cloud Federal Financials has embedded artificial intelligence and machine learning capabilities that work to enable federal agencies to gain insights into their financial data to inform decision-making and business optimization initiatives, Oracle said Thursday.
“With Oracle Cloud Federal Financials, agencies can access a reliable, integrated, and highly-secure solution to optimize time-sensitive workflows, help deliver positive mission-oriented outcomes, and ultimately provide better services for constituents,” said Rondy Ng, executive vice president of applications development at Oracle.
The new Oracle offering features automated federal accounting, budget execution and funds control, payment processing, debt collection management and Treasury interfaces and reporting.
The platform also provides agencies access to Oracle’s government data centers authorized by the Federal Risk and Authorization Management Program to protect critical government information against cyberattacks and data leaks.
