New solutions and use cases empower CFOs with
generative AI to reinvent financial planning and analysis, helping
to optimize operations and fuel growth
Building on their ecosystem partnership of more than 30 years,
Accenture (NYSE: ACN) and Oracle (NYSE: ORCL) are investing in new
generative AI solutions, tools, and trainings to help organizations
maximize the value of their data to drive next-level growth and
continuous innovation.
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Building on their ecosystem partnership
of more than 30 years, Accenture and Oracle are investing in new
generative AI solutions, tools, and trainings to help organizations
maximize the value of their data to drive next-level growth and
continuous innovation. (Graphic: Business Wire)
Together, Accenture and Oracle will help clients across
industries reinvent their businesses with generative AI, moving
from experimentation to adoption at scale. The companies will
leverage Oracle Cloud Infrastructure (OCI) Generative AI to help
increase efficiency, improve resilience, and deliver superior
customer and employee experiences, while keeping client’s data
private and secure. With an initial focus on driving digital
finance transformation across industries, new generative AI-powered
OCI solutions can provide finance teams with real-time data
analysis and recommendations, transforming how decisions are
made.
“Our clients are laser-focused on moving beyond generative AI
experimentation to value realization. In fact, according to new
Accenture research, 85% of C-suite leaders are confident they will
achieve the expected ROI on their generative AI investments this
year,” said Lan Guan, chief AI officer, Accenture. “Together with
Oracle, we’re delivering the enterprise-grade generative AI
solutions organizations need to drive new value and completely
reimagine business functions and processes.”
For chief financial officers (CFOs), generative AI can help
speed tasks that were once arduous, time-intensive and manual,
simplifying finance processes, accounting closes, filings and
planning. Harnessing Accenture’s extensive experience -- in
financial planning and analysis, corporate finance and risk,
finance and accounting operations, and organizational design --
coupled with Oracle technology, specific solutions and use cases
can include:
- Procurement Spend Analysis: Leveraging client-specific
data and generative AI and machine learning (ML) algorithms,
procurement teams can make data-driven decisions based on
business-relevant insights. With generative AI agents, teams can
identify strategic opportunities for savings across the enterprise
and take action to reduce costs.
- Financial Planning and Analysis Demand Forecast: With
generative AI and ML, organizations can get a clear explanation of
variances, factors and impacts that enable them to assess the
changing demand for their products and services, generating more
accurate forecasts.
- Dynamic Scenario Planning: Through generative AI,
historical and real-time data analysis and a curated knowledge
base, finance teams can explore various financial scenarios,
perform what-if analysis, identify and understand the impacts of
different actions to optimize departmental spending and allocate
resources more efficiently. This generative AI-augmented analysis
can reduce the time and effort required to identify optimization
opportunities, allowing organizations to respond promptly to market
changes.
The finance solutions will leverage Accenture’s proprietary
switchboard to help clients select a combination of foundation
models based on factors such as cost or accuracy. Together, the
companies are also exploring industry-specific generative AI
solutions in the healthcare and public sector space.
“Oracle continues to be at the forefront of enterprise AI,
making generative AI available throughout our stack—from
infrastructure to data and applications—to meet customers’ unique
needs,” said Greg Pavlik, senior vice president, AI and Data
Management Services, Oracle. “We’re excited to be partnering with
Accenture to deliver enterprise-class generative AI-powered
solutions that address real-world business problems.”
Accenture has developed a new generative AI-powered Oracle
assistant, which is transforming how the two companies can develop
and deliver Oracle solutions. By contextualizing large language
models (LLMs) with Oracle- and Accenture-specific data to make them
more relevant and useful for Oracle-specific tasks, the assistant
can generate responses for queries associated with Oracle products
and services. In addition, the assistant provides guidance
throughout the software delivery lifecycle, from ideation to
deployment, through use cases such as automating tasks, generating
documentation, enhancing code quality and accelerating
development.
For a client in the resources industry, Accenture used the tool
to reduce the effort required for business process design by up to
70%. The tool is also being used for code development and testing
systems, helping to reduce time spent on implementing new Oracle
technologies and features, reducing risk and enabling them to focus
on other strategic tasks. For example, the assistant was used to
augment test case creation for a global telecommunications company
to help ensure high quality data and save time and effort.
Accenture was one of the first ecosystem partners to access OCI
Generative AI in beta. Leveraging its extensive AI engineering
capabilities and drawing on its experience from hundreds of
generative AI client engagements, Accenture provided early feedback
to help shape and evolve the OCI Generative AI and product
roadmap.
As part of the relationship, Accenture is committed to training
its people on OCI Generative AI Service. Accenture and Oracle plan
to launch a specialized Oracle training program for clients within
Accenture's AI academy to help cultivate future-ready talent and
accelerate transformation with OCI.
Today’s announcement builds on Accenture’s $3 billion investment
in AI. To learn how Accenture and Oracle can help organizations
unlock value with generative AI, read the joint perspective,
Unlocking Enterprise Value: Are You Prepared for the Gen AI
Revolution?.
About Accenture
Accenture is a leading global professional services company that
helps the world’s leading businesses, governments and other
organizations build their digital core, optimize their operations,
accelerate revenue growth and enhance citizen services—creating
tangible value at speed and scale. We are a talent- and
innovation-led company with approximately 742,000 people serving
clients in more than 120 countries. Technology is at the core of
change today, and we are one of the world’s leaders in helping
drive that change, with strong ecosystem relationships. We combine
our strength in technology and leadership in cloud, data and AI
with unmatched industry experience, functional expertise and global
delivery capability. We are uniquely able to deliver tangible
outcomes because of our broad range of services, solutions and
assets across Strategy & Consulting, Technology, Operations,
Industry X and Song. These capabilities, together with our culture
of shared success and commitment to creating 360° value, enable us
to help our clients reinvent and build trusted, lasting
relationships. We measure our success by the 360° value we create
for our clients, each other, our shareholders, partners and
communities. Visit us at www.accenture.com.
About Oracle
Oracle offers integrated suites of applications plus secure,
autonomous infrastructure in the Oracle Cloud. For more information
about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
Oracle, Java, MySQL and NetSuite are registered trademarks of
Oracle Corporation. NetSuite was the first cloud company—ushering
in the new era of cloud computing.
Copyright © 2024 Accenture. All rights reserved. Accenture and
its logo are registered trademarks of Accenture.
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version on businesswire.com: https://www.businesswire.com/news/home/20240506473293/en/
Hannah Unkefer Accenture +1 206 839 2172
hannah.m.unkefer@accenture.com
Calin Gunn Oracle +1 802 779 7040 calin.gunn@oracle.com
Accenture (NYSE:ACN)
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