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Oracle Cloud Enterprise Resource Planning

Through a rigorous, competitive request for proposals bid process, Oracle Cloud Enterprise Resource Planning (ERP) was selected as the new financial system platform for the University and UChicago Medicine.

Oracle

Oracle Cloud ERP is an end-to-end, modern, cloud-based software as a service suite that will manage operational functions such as financial management, grants, projects, and procurement throughout the University and its affiliates. Oracle’s performance capabilities will assist in planning, budgeting, predicting, and reporting financial results.

Specifically, the new system will:

  • Streamline financial management, such as intercompany transactions and consolidation of financial statements

  • Realize efficiencies with improved visibility, such as joint spend analysis

  • Share data governance, such as coordinated maintenance of chart of accounts using Oracle Enterprise Data Management

Oracle Cloud ERP

Orbit Reporting and Analytics

In conjunction with Oracle Cloud ERP, the University is implementing a new data warehouse, Orbit Reporting and Analytics.

A data warehouse is designed to enable and support business intelligence and analytics. Orbit will be used for ad-hoc financial and analytical reporting and will include reports and dashboards containing data from various sources combined with Oracle Cloud data.

If you are interested in familiarizing yourself with Oracle Cloud ERP, there are many free resources and courses available online.

UChicago and UCM are using Oracle Cloud ERP to streamline financial management, such as intercompany transactions and consolidation of financial statements. They will see efficiencies with improved visibility, such as joint spend analysis, and shared data governance, such as coordinated maintenance of chart of accounts using Oracle Enterprise Data Management.

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