Oracle Corp. is releasing this week the ninth update to its E-Business Suite 11i set of business applications, featuring 900 tweaks and new features aimed at benefiting customers in a variety of industries.
The updates address capabilities requested by Oracle's customers, most notably in Oracle's financial applications, said Mike Rosser, Oracle's vice president of worldwide applications marketing.
With the one-year anniversary of the Sarbanes-Oxley Act approaching, companies are using the new U.S. regulatory compliance requirements as an impetus for IT projects that improve accounting systems, Rosser said. The latest version of Oracle Financials includes more detailed revenue recognition controls, expanded expense audit management tools and reporting features, and extended multicurrency translation options.
Also added to Oracle Financials is a new credit management application to aid users in evaluating the credit-worthiness of customers and prospects. Oracle has built into the software integration hooks with credit information sources such as Dun & Bradstreet's database.
New capabilities in the E-Business Suite 11i.9 have been tailored for companies in more than 20 industries, including defense, automotive, communication, packaged goods, financial services and life sciences, according to Oracle. The updates are available worldwide, via electronic download or CD-ROM, to new Oracle customers and existing customers with maintenance contracts.
Oracle, based in Redwood Shores, California, is not currently working on any major overhauls of the E-Business Suite. It intends to stick with the 11i code base for the foreseeable future, updating it with new incremental releases every six to eight months, Rosser said.