Oracle Introduced B2B Commerce Service To Cut Cost of Doing Business

In order to help businesses reduce operating costs, improve customer experiences, and offer new products, Oracle has introduced new services that will integrate and automate full business-to-business (B2B) transactions. With the help of Oracle Cloud ERM, the new Oracle B2B Commerce connects more than 40,000 buyers, sellers, and service providers directly, eliminating the need for multiple systems, processes, and data integration challenges that make B2B transactions so challenging (ERP). Oracle B2B Commerce, for instance, will provide integrations with J.P. Morgan's Payments business, which consists of the bank's treasury, trade, commercial card, and merchant services capabilities, for integrated banking and J.P. Morgan travel card and expenses services. Additionally, integration with logistics services as part of the FedEx Compatible program is planned.

Rondy Ng, executive vice president of Oracle's applications department, said  "trading partners must engage in numerous manual interactions to complete a deal. Each step in the process adds time and inefficiencies, introduces the possibility of human error, and diverts buyers and sellers from more strategic work." Our customers will be able to automate buying, selling, financing, shipping, billing, and payments with the help of Oracle B2B Commerce's integrations with J.P. Morgan Payments and FedEx, which will help them lower their costs of doing business.

Oracle B2B Commerce will integrate direct connectivity between Oracle Cloud ERP and service providers like J.P. Morgan Payments and FedEx as well as other financial services companies, insurance companies, and delivery services in order to digitize the entire B2B commerce process for shared customers. Additionally, a single data format and security procedures will be utilized. Oracle B2B Commerce enables 40,000 organisations to communicate information and transact in real-time with all trading parties, which speeds up transaction fulfillment and improves customer experience. It also enables companies to offer novel services, such new payment options.