Oracle Cloud Federal Financials, a purpose-built, industry-specific solution in Oracle Fusion Cloud Enterprise Resource Planning (ERP) has been added to the U.S. Department of the Treasury’s Financial Management Quality Service Management Office (FM QSMO) Marketplace. With Oracle Federal Financials, federal agencies can automate finance processes and leverage embedded AI to help increase productivity, reduce costs, improve transparency and auditability, and enhance the quality of services they provide to constituents.
Established by the U.S. Department of the Treasury, the FM QSMO Marketplace enables federal agencies to identify vetted financial management solutions. By providing access to commercial and federal offerings that meet government-wide standards for financial systems and data, it helps increase standardization and improve the efficiency, transparency, security, and performance of federal financial operations.
“The inclusion of Oracle Federal Financials in the FM QSMO Marketplace builds on our proven track record across the public sector and enables federal agencies to transform finance operations while staying aligned with government standards and compliance requirements,” said Rondy Ng, executive vice president of Applications Development, Oracle. “With Oracle Federal Financials, agencies can use embedded AI capabilities to improve visibility and reporting and streamline core finance operations, freeing teams to focus on mission-critical priorities.”
Oracle Federal Financials helps federal agencies:
- Automate federal financial processes: Agencies can reduce redundancies, improve data quality, and streamline finance processes with automated accounting, budget planning and execution, funds control, delinquency processing, and debt collection capabilities in a single platform.
- Accelerate insights: Agencies can reduce the amount of time spent on manual tasks, accelerate financial reporting, and make more informed decisions with automated transactions and AI-powered insights.
- Secure data in dedicated government data centers: Agencies gain role-based controls and top-to-bottom security features to help safeguard against cyberattacks and data leaks with Oracle’s dedicated government data centers that are FedRAMP and Impact Level-authorized.
- Scale and adapt IT resources: Agencies can scale for changing needs without compromising performance or availability with the ability to dynamically increase and decrease consumption (cost) based on mission-critical workload requirements via Oracle Cloud Infrastructure (OCI).
- Embrace continuous innovation: Agencies can adopt hundreds of new features and capabilities each year to continuously optimize and enhance finance and operations with Oracle’s quarterly update cycle.
11,000 organizations spanning nearly every industry and geography turn to Oracle Fusion Cloud ERP to run their businesses. As more organizations join Oracle’s community of innovators, customers benefit from a comprehensive set of AI-powered enterprise finance and operations capabilities, including financials, accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, supply chain management & manufacturing, and Oracle B2B, that help revolutionize the way organizations transact, pay, finance, and ship sustainably across the globe.