Founded in 1977 as a software consulting company, Oracle gradually started to develop enterprise applications in the mid-1980s. The initial focus was on building financial management and manufacturing applications.
However, Oracle soon became a top enterprise software vendor through a combination of building in-house solutions and strategic acquisitions of other companies specialized in developing enterprise applications.
One of its flagship products is the Oracle Fusion Cloud Financials, which is part of a larger suite of Oracle Fusion Applications. This enterprise resource planning system operates on Oracle Cloud Infrastructure (OCI) and caters to the comprehensive financial management needs of businesses.
In this blog, we’ll explore the list of companies using Oracle Financials cloud and examine the role this ERP plays in their operations.
Before we get there, let’s understand more about Oracle ERP Cloud Financials, its features, market share, etc.
What is Oracle Cloud Financials?
Oracle Cloud Financials is an all-inclusive financial management application suite within the broader Oracle Fusion Cloud enterprise resource planning system. The application is specifically designed to address the comprehensive financial management needs of businesses.
Irrespective of the industry type and company size, Oracle Financials Cloud ERP caters to businesses of all niches and regions. It is a global financial platform that enables businesses to automate financial operations, shorten financial cycles, and simplify decision-making.
Different modules of Oracle Financial Cloud and their functions:
Here are the Oracle Financials Cloud modules:
General Ledger:
The General Ledger module provides a centralized repository for financial transactions and facilitates managing the chart of accounts, budgets, and allocations.
Accounts Payable:
The Accounts Payable module enables you to deal with vendor invoices, approvals, and payments seamlessly.
Accounts Receivable:
The Accounts Receivable module helps you automate invoice generation, receipt collection, and cash flow.
Fixed Assets:
The Fixed Assets module provides accurate information on current asset value, including depreciation and asset transfers. Thereby, it helps improve asset management.
Cash Management:
The Cash Management module offers comprehensive insight into your company’s cash flow, including transactions, bank balances, and forecasts.
Features of Oracle ERP Financials:
The Oracle Financials Cloud ERP boasts a range of unique features that help businesses improve overall financial management. Here are a few of those features to mention:
- As a global financial platform, the system supports multi-entity, multi-currency, and generally accepted accounting principles (GAAP).
- It offers advanced analytics and reporting tools, enabling businesses to gain deeper insights into financial performance and make informed decisions.
- The system leverages AI and ML to automate routine tasks, such as invoice processing, payment processing, and expense management, thereby accelerating financial processes.
- It simplifies and automates calculations of partner shares and invoices, making joint venture management seamless and accurate.
As Oracle Cloud for Finance is a component of the larger Oracle Fusion Cloud Applications, finding its individual market share is a nightmare. However, Oracle is a major player in the ERP market, whose overall market share amounted to 5.07%.
The table below provides a better insight into the market share of prominent ERP vendors in the marketplace:
| Company | Market Share |
|---|---|
| Microsoft | 31.5% |
| SAP | 11.8% |
| Deltek | 8.1% |
| Sage | 6.1% |
| Oracle | 5.07% |
| Workday | 1.62% |
| Epicor | 1.57% |
| Aptean | 1.04% |
| Infor | 0.85% |
| Odoo | 0.68% |
| SYSPRO | 0.59% |
| Acumatica | 0.47% |
| Blue Link | 0.44% |
| ECI | 0.42% |
| Other | 29.75% |
Knowing the functions, features, and market share of Oracle Financials Cloud, let’s learn about the list of companies using Oracle Financials Cloud with no further delay.
Companies that use Oracle Financials Cloud:
| Company Name | Website | Headquarters | Revenue | Employee Count | Industry |
|---|---|---|---|---|---|
| Cigna | http://cigna.com/ | Bloomfield, Connecticut, USA | $247.1 Billion | 73,500 | Healthcare Insurance |
| Aviva Plc | https://aviva.com/ | London, England, UK | $24 Billion | 23,000 | Insurance |
| Blue Shield of California | https://blueshieldca.com/ | Oakland, California, USA | $21.8 Billion | 7,500 | Healthcare Insurance |
| DP World | https://dpworld.com/ | Dubai, UAE | $18.25 Billion | 1,01,440 | Logistics |
| MGM Resorts | https://www.mgmresorts.com/ | Las Vegas, Nevada, USA | $17.2 Billion | 63,000 | Hospitality |
| Advance Auto Parts | http://advanceautoparts.com/ | Raleigh, North Carolina, USA | $9.09 Billion | 62,800 | Auto Parts Retail |
| Lyft | https://lyft.com/ | San Francisco, California, USA | $5.79 Billion | 2,934 | Ground Passenger Transportation |
| Siam Commercial Bank | http://www.scb.co.th/ | Chatuchak, Bangkok, Thailand | $5 Billion | 27,000 | Banking |
| The Wonderful Company | http://wonderful.com/ | Los Angeles, California, USA | $4 Billion | 9,000 | Food and Beverage Manufacturing |
| Gopuff | https://www.gopuff.com/ | Philadelphia, Pennsylvania | $1.2 Billion | 5,000 | Software Development |
| Ocado Retail | https://ocadogroup.com/ | Hatfield, Hertfordshire, UK | $1 Billion | 501 – 1,000 | Retail |
| Ngern Tid Lor. | https://www.tidlorinvestor.com/en/home | Phaya Thai, Bangkok, Thailand | $607 Million | 5,001 – 10,000 | Financial Services |
| Cohu | https://www.cohu.com/ | Poway, CA, USA | $401.8 Million | 1,001 – 5,000 | Appliances, Electrical, and Electronics Manufacturing |
| AirAsia | http://www.airasia.com/ | Kuala Lumpur International Airport, Sepang, Malaysia | $355 Million | 23,000 | Airlines and Aviation |
| Ministry of Justice (UK) | https://gov.uk/moj | Westminster, London | NA | 10,000+ | Law Practice (Government Agency) |
| Olds College Center for Innovation | http://www.oldscollege.ca/ | Olds, Alberta, Canada | NA | 201 – 500 | Higher Education (Public College) |
| South Yorkshire Police | https://www.southyorks.police.uk/ | Sheffield, South Yorkshire, England | NA | 1,001 – 5,000 | Law Enforcement (Government Agency) |
Click here to get deeper insights into the Oracle Financials Cloud customers list.
Analysis of how these companies use Oracle Cloud Financials:
Now that we know the companies that use Oracle Financials Cloud, let’s get into how these companies leverage Oracle Financials ERP in their business operations.
The Cigna Group:
| Headquarters | Bloomfield, Connecticut, USA |
| Revenue | $247.1 Billion |
| Number of Employees | 73,500 |
Established in 1792, the Cigna Group is a global health insurance and related service company committed to improving the health and vitality of those it serves. It operates through two wings, viz., Cigna Healthcare and Evernorth Health Services. The Cigna Healthcare segment offers dental, behavioral health, and other medical products to its customers. And, the latter segment provides pharmacy benefits and other health solutions.
According to the Cigna Group’s job post on its portal for the Systems Analysis Lead Analyst role, it is evident that it utilizes Oracle Financials Cloud. Moreover, the company leverages Oracle Financials to streamline accounting and finance operations of its Evernorth Health Services segment.
Aviva Plc:
| Headquarters | London, England, UK |
| Revenue | $24 Billion |
| Number of Employees | 23,000 |
Headquartered in London, Aviva Plc is a British multinational insurance company offering retirement solutions, diverse insurance plans, and comprehensive wealth management services. The company serves around 25 million customers across the UK, Ireland, and Canada. Furthermore, Aviva Plc is the first one to issue a burglary insurance policy and the only company to hold a royal warrant.
With reference to an Oracle article, Aviva Plc leverages Oracle Cloud Financials as a strategic tool for procure-to-pay (P2P) processes. The company chose Oracle Financial ERP with an aim of simplifying and standardizing finance processes, thereby establishing Aviva as an agile organization in the market.
Blue Shield of California:
| Headquarters | Oakland, California, USA |
| Revenue | $21.8 Billion |
| Number of Employees | 7,500 |
Blue Shield of California is a not-for-profit organization founded in 1939 by the California Medical Association. The entity focuses on community health initiatives and social responsibility, providing Californians with high-quality health care at an affordable price. It serves over 4.7 million members, including individuals, families, and corporations.
Referring to Oracle customer success story, Blue Shield of CA chose Oracle Fusion Cloud Applications, including ERP, HCM, Sales, and CX products, as a unified suite. Using Oracle Cloud ERP, the organization reduced monthly financial close time by 40%, shortened financial consolidation cycles to two working days, and increased automations.
DP World:
| Headquarters | Dubai, UAE |
| Revenue | $18.25 Billion |
| Number of Employees | 1,01,440 |
Headquartered in Dubai, UAE, DP World is a multinational logistics company that specializes in cargo logistics, maritime services, port terminal operations, and free trade zones. It’s a merger company formed in 2005 by the amalgamation of Dubai Ports Authority and Dubai Ports International. The company focuses on innovation and invests in technology to enhance its global trade efficiency.
As stated in the Oracle customer success story, DP World utilizes Oracle Cloud ERP Financials. With that, the company reduced its budgeting time by half and accelerated invoice processing efficiency by 60%. Moreover, it streamlined the supply chain and fastened HR processes with Oracle Fusion Cloud SCM and HCM, respectively.
MGM Resorts:
| Headquarters | Las Vegas, Nevada, USA |
| Revenue | $17.2 Billion |
| Number of Employees | 63,000 |
MGM Resorts International is a multinational entity that caters to hospitality, sports, and entertainment services. Its portfolio encompasses 31 hotels, gaming destinations, and some of the recognizable resort brands globally, including Bellagio, MGM Brand, Mandalay Bay, and The Mirage. Moreover, MGM Resorts International is a FORTUNE Magazine World’s Most Admired Company.
With reference to the Oracle case study, MGM Resorts utilizes Oracle Fusion Cloud Financials, with the help of PwC. As a result, the company streamlined financial processes, remained compliant, and simplified business operations.
Advance Auto Parts:
| Headquarters | Raleigh, North Carolina, USA |
| Revenue | $9.09 Billion |
| Number of Employees | 62,800 |
Advance Auto Parts manufactures and sells replacement parts for vehicles, serving both professional installers and DIY customers. Headquartered in Raleigh, United States, the company holds around 4,285 stores across the country. Moreover, it holds additional locations in Puerto Rico, the U.S. Virgin Islands, and Canada.
According to the Advance Auto Parts job posting for the role of Collections Analyst, we understand that it leverages Oracle Financials Cloud. The company leverages it to manage vendor incentives, accounting functions, accounts payable, invoice processing, payment collections, and financial reporting.
Lyft:
| Headquarters | San Francisco, California, USA |
| Revenue | $5.79 Billion |
| Number of Employees | 2,934 |
Lyft is an American-based transportation company, offering ride-hailing services, bicycle-sharing systems, and motorized scooters through its “Free Now” mobile application. It offers services across the United States and Canada, and is the second-largest ride-sharing company in the USA after Uber.
As stated in the Oracle customer success story, Lyft partnered with Deloitte to implement Oracle Fusion Cloud Finance. Just within four months of its deployment, the company’s finance team reduced the financial closing time by half and streamlined other financial processes.
Siam Commercial Bank (SCB):
| Headquarters | Chatuchak, Bangkok, Thailand |
| Revenue | $5 Billion |
| Number of Employees | 27,000 |
The first Thai Bank, named Siam Commercial Bank Public Company Limited, was established in 1907. Later in 1910, the bank opened its headquarters in Bangkok, and now it has around 643 domestic branches and over 10,000 automated teller machines (ATMs) across the country. As a leading universal bank, SCB offers deposits, lending, and other retail services to customers.
Referring to the Oracle case study, SCB leverages Oracle Fusion Cloud ERP Financials and EPM as part of digital upgradation. As a result, the bank trimmed its processing time to just ten minutes, improved account reconciliation, and streamlined end-to-end financial processes.
The Wonderful Company:
| Headquarters | Los Angeles, California, USA |
| Revenue | $4 Billion |
| Number of Employees | 9,000 |
Headquartered in Los Angeles, California, the Wonderful Company functions as a holding company of Stewart and Lynda Resnick. POM Wonderful, Wonderful Halos, FIJI Water, and Wonderful Pistachios are a few of its notable brands. Moreover, the company focuses on sustainability, corporate social responsibility, and community development, showcasing its commitment to society and the environment.
According to the Oracle customer story, we understand that the Wonderful Company leverages the Finance and Supply Chain Management (SCM) modules of Oracle Fusion Cloud Applications. As a result, the company reduced its financial closing time by 35% and synchronized supply chain operations.
Gopuff:
| Headquarters | Philadelphia, Pennsylvania |
| Revenue | $1.2 Billion |
| Number of Employees | 5,000 |
GoBrands, Inc., is the legal name of Gopuff, an American-based food and consumer goods delivery company. Founded in 2013 by Yakir Gola and Rafael Ilishayev, the company is a leading Quick Commerce platform in the United States. Soon, the company has scaled, and today, it serves more than 500 cities, towns, and suburbs in the USA.
With reference to the Oracle case study, Gopuff switched from QuickBooks to Oracle Fusion Cloud Financials to support the company’s aggressive expansion. Most of the back-end tasks are automated, enabling teams to focus on improving customer experiences.
Ocado Retail:
| Headquarters | Hatfield, Hertfordshire, UK |
| Revenue | $1 Billion |
| Number of Employees | 501 – 1,000 |
Ocado Retail is a UK-based joint venture between Ocado Group plc and Marks & Spencer plc, established in 2019. The company operates as an online grocery delivery platform, selling a range of products, including M&S-branded items, Ocado-owned products, and other items. Moreover, the company delivers groceries in under 60 minutes through its rapid delivery service, called Zoom by Ocado.
As mentioned in the Oracle customer success story, we understand that Ocado Retail utilizes Oracle Fusion Cloud to automate its financial processes. Moreover, the ERP’s automation and in-built AI features enabled the company to gain better visibility of its end-to-end business operations.
Ngern Tid Lor:
| Headquarters | Phaya Thai, Bangkok, Thailand |
| Revenue | $607 Million |
| Number of Employees | 5,001 – 10,000 |
Ngern Tid Lor is a non-bank financial services and insurance brokerage firm that serves undercapitalized communities in Thailand. Its core business services include vehicle title loans, hire-purchase financing, and insurance brokerage. With over 1,800 branches across the country, the organization offers fair and transparent financial solutions.
As stated in the Oracle case study, the Ngern Tid Lor leverages Oracle Fusion Cloud ERP and EPM to support its expanding future digital requirements. Consequently, the company simplified the general ledger-chart and gained better control over financial period close timings.
Cohu:
| Headquarters | Poway, CA, USA |
| Revenue | $401.8 Million |
| Number of Employees | 1,001 – 5,000 |
Cohu is a leading supplier of semiconductor test handlers and test contactors across the globe. Also, the company provides automated test equipment and metrology solutions to the semiconductor and electronics manufacturing sectors. Through a series of acquisitions, the company has grown substantially and sought to unify the back-office processes across the acquired businesses.
Oracle’s customer success story reveals that Cohu implemented Oracle Fusion Cloud Finance, SCM, and Sales systems to unify multiple business operations. Thereby, the company enabled its employees to operate remotely and allowed them to focus on business expansion activities.
AirAsia:
| Headquarters | Kuala Lumpur International Airport, Sepang, Malaysia |
| Revenue | $355 Million |
| Number of Employees | 23,000 |
Headquartered in Kuala Lumpur, AirAsia is a Malaysian multinational airline operating since 1996. It’s the largest airline in Malaysia by fleet size and destinations. Moreover, it operates both domestic and international flights. Despite the passenger services, the airline manages Teleport, offering affordable and reliable logistics services.
As stated in the Oracle customer success story, AirAsia utilizes a combination of Oracle Cloud ERP and EPM to streamline its business processes and increase profitability. The system enabled the company to standardize accounting practices and centralize finance operations, thereby attaining efficiency.
Ministry of Justice (UK):
| Headquarters | Westminster, London |
| Revenue | NA |
| Number of Employees | 10,000+ |
The Ministry of Justice is formed to protect the public, reduce crime rates, and provide equal justice to people in England and Wales. Moreover, the department is in charge of maintaining smooth relations between the British Government and the decentralized administrations.
As stated in the Oracle case study, the organization deployed Oracle Fusion Cloud ERP, SCM, and HCM to standardize finance, increase productivity, reduce costs, and enhance customer experience.
Olds College Center for Innovation:
| Headquarters | Olds, Alberta, Canada |
| Revenue | NA |
| Number of Employees | 201 – 500 |
Olds College Center for Innovation is an applied research division of the Olds College of Agriculture and Technology, located in Alberta. The center focuses on applied research specializing in smart agriculture, horticulture, and other related studies.
As mentioned in the NTT DATA case study, Olds College Center for Innovation switched from Oracle PeopleSoft ERP to Oracle Fusion Cloud Financials. Consequently, the company increased accuracy, reduced licensing costs by 50%, and integrated manual processes, thereby improving overall efficiency.
South Yorkshire Police (SYP):
| Headquarters | Sheffield, South Yorkshire, England |
| Revenue | NA |
| Number of Employees | 1,001 – 5,000 |
Formed in 1974, the South Yorkshire Police (SYK) is a regional police force of South Yorkshire in England, serving around 1.4 million people. Moreover, it’s a “full spectrum force” led by Chief Constable Lauren Poultney and focuses on preventing crime and improving public safety.
Referring to the Oracle case study, we understand that South Yorkshire Police utilizes Oracle Fusion Cloud ERP and HCM to automate finance and HR processes, respectively. As a result, it streamlined financial and administrative processes.
False information on companies using Oracle Financials Cloud:
A combination of factors, such as how information is created, consumed, and disseminated, affects the quality of information online. For instance, here is a list of companies that are claimed to be Oracle Financials Cloud customers on the internet.
However, that’s not the case in reality, and the right column of the table reveals the actual ERP the company uses.
| Company | Actual ERP |
|---|---|
| CVS Health | SAP |
| UnitedHealth Group | Oracle HCM Cloud |
| Scripps Health | Workday |
| Exxon Mobil Corporation | SAP S/4HANA |
| Alcoa | Oracle EBS, Workday |
| Land O Lakes | Oracle Fusion Cloud SCM, Oracle NetSuite OneWorld |
| Intel | SAP S/4HANA |
| Ericsson | SAP S/4HANA |
| Kroger | Oracle HCM Cloud |
| Birlasoft | Rise with SAP |
| Ernst & Young Global Limited | SAP S/4HANA |
| Massachusetts Institute of Technology | SAP |
| Ford Motor Company | Oracle HCM Cloud, SAP |
| HP Development Company, L.P. | SAP S/4HANA |
| Next | Oracle Payroll |
| Mercury Marine | Oracle CPQ Cloud |
| Macy’s | Oracle HCM |
Therefore, it’s important to cross-verify the information with multiple reputed sources or established organizations. However, it’s time-consuming and costs your team’s productivity. Hence, it is advisable to obtain it from reputable data solution providers, like InfoClutch.
Why InfoClutch is your best data partner?
For over a decade, InfoClutch has been the go-to option for many prominent businesses to obtain company data for their business outreach purposes. This is mainly due to the immense knowledge, experience, and expertise that InfoClutch holds. Moreover, it knows the nuances of compiling a high-quality database.
Furthermore, our database is highly compliant, adhering to both international and region-specific data laws, such as GDPR, CCPA, and CAN-SPAM. Thus, InfoClutch provides you with accurate, authentic, up-to-date, and compliant data, thereby becoming your best data partner out there.
Wrapping up:
Oracle Cloud Financials is a cloud-native enterprise resource planning system that caters to businesses across varied industries. With extreme automation features and AI capabilities, it enables businesses to streamline financial processes seamlessly.
Misinformation about companies that use Oracle Financials Cloud prevails on the internet, misleading businesses like yours in your outreach endeavors. Hence, it is advisable to obtain the list of companies using Oracle Financials Cloud from a genuine data provider, like InfoClutch.
Get in touch with us to gain more insights into our offerings and services!
