Oracle Introduces New Cloud-Based Finance Application for Federal Agencies

Oracle has announced the availability of Oracle Cloud Federal Financials, enabling federal agencies to automate finance processes and use artificial intelligence to increase productivity, improve controls and enhance the quality of services.

Rondy Ng, executive vice president of applications development at Oracle, said that the cloud-based application provides government customers access to a solution capable of optimizing time-sensitive workflows, ensuring mission success. 

The solution comes with the ability to generate insights using AI and generative AI, integration with the Department of the Treasury and the ability to scale and adapt to existing and future IT resources, Oracle said.

With governments growingly dependent on cloud technologies, Oracle has been working to ensure its solutions are capable of protecting sensitive data. In April, it announced its three Oracle Cloud infrastructure regions gained an Impact Level 6 rating from the Defense Information Systems Agency’s criteria for hosting classified data.

Oracle is not the only vendor supplying the government with unique cloud solutions. In April 2023, the International Development Finance Corp. ensured its information technology office had the necessary IT  support by tapping 15 vendors, including Creative Solutions Consulting, Polaris and ShorePoint.