In a joint announcement, it was revealed that Ernst & Young will also utilise the solution as an integrated component of its Strategic Sourcing practices consulting engagements.
Oracle Strategic Procurement is one of the leading e-Business procurement solutions available today, and the only such solution to effectively support the entire plan-to-procure-to-pay lifecycle for companies in all market segments; from manufacturers to distributors, service companies and public sector entities, according to (Oracle spokesperson, title).
The complete solution offers procurement intelligence, strategic sourcing, on-going supplier certification and management, 100% lifecycle automation, supplier collaboration, Internet-based self service purchasing and one of the broadest content management strategy.
The Ernst & Young Strategic Sourcing Practice provides clients with development, process re-engineering, implementation and program management of sourcing strategies to reduce both their cost of purchases and total cost to procure.
"The solution produces very dramatic results," says (spokesperson). "A typical client can expect to attain an average reduction of all purchasing costs of up to 10%-20% in the first two or three years through a properly executed strategic sourcing programme.
"Oracle Strategic Procurement will provide the centralised platform to enable these cost savings to be realised."
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Oracle Corporation
Oracle Corporation is the world`s leading e-business solution provider and supplier of software for information management. With annual revenues of more than $8.8 billion, the company offers its database, application server, tools and application products, along with related consulting, education and support services, in more than 145 countries.