Oracle added two new applications to its Oracle Contracts package on Tuesday, further expanding the company's offerings outside of its database software with the Sales Contracts and Contracts Intelligence applications.
A portion of Oracle's E-Business suite, Oracle Contracts is a group of applications designed to automate business practices such as contract negotiation and management that previously required extensive paperwork and time-intensive labor, Oracle said in a statement. The two new offerings help Oracle's customers simplify increasingly complex business relationships by automating the creation, delivery and maintenance of contracts, the company said.
Oracle Sales Contracts is used during contract negotiation, and will aid sales organizations by improving order accuracy and ensuring compliance with various regulations, Oracle said. Its partner application, Oracle Contracts Intelligence, will provide reporting tools for managers and executives, such as statistical data related to daily sales. This will increase the accuracy of executive decision-making, and allow for more precise revenue forecasts, according to Oracle.
Information was not provided on pricing and where the applications will be available.