Friday, July 12, 2024

Panasonic Implementing Oracle Cloud ERP Software

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TOKYO — Panasonic is deploying software by Oracle Cloud to “accelerate” its digital transformation and upgrade its technology infrastructure.

Panasonic selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Oracle Fusion Cloud Enterprise Performance Management (EPM) to “drastically reduce” administrative activities and strengthen business management, according to Oracle last month.

With Oracle Cloud ERP and Oracle Cloud EPM, Panasonic intends to streamline business operations, gain deeper financial insights, and position the company for a new era of expansion.

Panasonic, a technology conglomerate, serves several industries, such as consumer electronics, housing, and automotive. 

The project will be implemented by Panasonic Information Systems, Oracle Japan Consulting Services, and IBM Japan.

As part of its Panasonic Transformation (PX), Panasonic is transitioning its business model to a holding company structure to support autonomous management, market expansion, and changing business conditions. To accomplish the goal, Panasonic needed to upgrade its 20-year old finance systems.

With Oracle Cloud ERP, Panasonic will gain a “comprehensive view” of financial data from every part of its business and critical insights to improve its accounting processes. 

With Oracle Cloud EPM, Panasonic plans to improve financial planning, forecasting, and execution. 

Panasonic will also use the artificial intelligence (AI) and machine learning (ML) capabilities built into the Oracle Fusion Cloud Applications Suite to reduce the time it spends on administrative processes and focus on “more strategic, innovative work.” 

Oracle expects its cloud applications can help Panasonic “better respond to change, improve operational efficiency, and optimize new business processes,” said Toshimitsu Misawa, member of the board, corporate executive officer, and president of Oracle Japan. 

“In an industry characterized by rapidly evolving needs, this continuous stream of innovation with cloud technology is critical to success.”

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