REDWOOD SHORES, Calif., June 28, 2017 /PRNewswire/ -- Oracle today announced it has been named a Leader in Gartner's 2017 "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises" research report(1).

Out of 11 products evaluated, Oracle ERP Cloud is positioned the highest for both completeness of vision and ability to execute.

According to the report, "Leaders demonstrate a market-defining vision of how core financial management systems and processes can be supported and improved by moving them to the cloud. They couple this with a clear ability to execute this vision through products, services and go-to-market strategies. They have a strong presence in the market and are growing their revenues and market shares. In the cloud core financial management suites market, Leaders show a consistent ability to win deals in organizations of different sizes, and have a good depth of functionality across all areas of core financial management. They have multiple proof points of successful deployments by customers based in their home region and in other geographies. Their offerings are frequently used by system integrator partners to support finance transformation initiatives."

"Transformation and innovation are top of mind for finance organizations. Customers are looking for best-in-class cloud solutions to help drive deep real time business insights, increase productivity, and lower costs," said Rondy Ng, senior vice president, applications development at Oracle. "Oracle ERP Cloud is the only enterprise-grade solution on the market with the breadth, depth, security, scalability, and cutting-edge innovations to meet these demanding business needs. We consider our leader positioning by Gartner as validation of our product- and service-driven strategy and recognition of our commitment to our customers' success."

"When we started our finance transformation effort to modernize our systems infrastructure, we needed a flexible solution that reduced our cost profile, mandated standardized best practice processes, and accelerated our ability to uptake innovative technology," said Matthew Trager, Head of Finance Business Architecture, Lloyds Banking Group. "Oracle ERP Cloud met these and all of our functional and security requirements, giving us the agility to react and grow in a hyper-competitive business environment."

Oracle ERP Cloud is the industry's most complete, modern, and proven financial platform delivered seamlessly through the Oracle Cloud. A modern user interface driven by the latest design innovations delivers embedded analytics, contextual social collaboration, and a device-independent mobile experience to make Oracle ERP Cloud familiar and easy to use.

Oracle ERP Cloud includes complete ERP capabilities across financials, procurement, and project portfolio management, as well as Enterprise Performance Management (EPM), Governance Risk and Compliance (GRC) and Supply Chain Management (SCM). Native integration with the broader Oracle SaaS portfolio for Human Capital Management (HCM), and Customer Experience (CX) offer customers a practical, business-driven, rapid adoption path forward.

Download Gartner's 2017 "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises" research report"(1).

For additional information on Oracle Cloud solutions for Finance, visit Oracle Enterprise Resource Planning (ERP) Cloud's Facebook, Twitter, or the Modern Finance Leader blog.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

1. Gartner, "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises," by Nigel Rayner, Robert P. Anderson, John E. Van Decker, June 2017.

About Oracle
The Oracle Cloud delivers hundreds of SaaS applications and enterprise-class PaaS and IaaS services to customers in more than 195 countries and territories while processing 55 billion transactions a day. For more information about Oracle (NYSE:ORCL), please visit us at http://cloud.oracle.com.

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SOURCE Oracle