Oracle Corporation (NYSE:ORCL) ERP Cloud Launched In India As New Regulations Take Effect

Andy Parker
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Oracle Corporation (NYSE:ORCL) ERP Cloud Launched In India As New Regulations Take Effect

Oracle Corporation (NYSE:ORCL) has revealed that its ERP Cloud offering is now available in India to assist multinationals and local firms on the subcontinent in getting ready for tax reforms that will be enacted in the country. The Oracle ERP Cloud offers built-in features that ensure compliance with the GST (Goods & Services Tax) regulations. It also offers local requirements support including statutory reporting, payment processing and withholding as well as offering GST Network reporting and integration native support.

ERP Cloud

With Oracle ERP Cloud, the financial platform is offered seamlessly via Oracle Cloud. The interface provides a mobile experience that is device-independent, contextual social collaboration and embedded analytics. The platform will enable business organizations to streamline their enterprise business processes, project portfolio management and procurement. Businesses will also be able to improve controls, lower costs and increase productivity.

The announcement concerning the availability of Oracle ERP Cloud was made by the chief executive officer of the enterprise software maker, Safra Catz, while delivering her keynote address during the Oracle OpenWorld event that was being held in New Delhi, India.

“[In India] customers can now take advantage of Oracle ERP Cloud’s comprehensive tax management capabilities, fully integrated with core ERP functions, to help make better business decisions and address regulatory changes driven by the new GST,” said Catz.

GST Regulations

With the new GST regulations, uniform and simplified tax rates will be applied across all states in India. This will replace a complex system which involved hundreds of different tax rates for goods and services. It is expected that the reforms will usher in increased economic activity and lead to the growth of the Gross Domestic Product as the movement of services and goods across state boundaries will be enhanced.

To assist clients in making the transition, consultants who have been trained and certified in Oracle ERP Cloud are currently working with various organizations. Some of the Oracle Partners engaged in this exercise include Clover Infotech, PricewaterhouseCoopers, Filix Consulting, KPMG, KPIT, and Deloitte.

On Tuesday shares of Oracle Corporation fell by 0.18% and closed at $45.48.