Oracle today announced the availability of Oracle Enterprise Resource Planning (ERP) Cloud in India to help local and multinational firms prepare for the country’s transformational tax reforms.
This announcement was made by Oracle CEO Safra Catz during her keynote at Oracle OpenWorld in New Delhi.
Oracle ERP Cloud provides built-in features to facilitate compliance with new Goods and Services Tax (GST) regulations, native support for GST Network integration and reporting, and support for local requirements including withholding, payment processing, and statutory reporting, the company said in a statement.
Oracle ERP Cloud will also now enable Indian firms to administer and leverage the significant GST process changes, including tax calculations, liability accounting, recovery, settlement and reporting, the company added.
“Customers can now take advantage of Oracle ERP Cloud’s comprehensive tax management capabilities, fully integrated with core ERP functions, to help make better business decisions and address regulatory changes driven by the new GST.” said Catz.
Emphasising on the digital transformation of India by leveraging the mobile phone technology, Katz noted that the use of smartphones by Indian youth was a gateway to digital economy.
“Digital India is the only way to make the government accountable and aligning everyone in a same direction,” Katz added.
Trained and certified Oracle ERP Cloud consultants from Oracle partners, including Clover Infotech, Deloitte, Filix Consulting, KPIT, KPMG, and PricewaterhouseCoopers, are currently engaged with customers to help them successfully manage this transformation, Oracle said.
Catz stressed that government and businesses should move to Cloud as it would allow them benefit from economy, deploy resources faster and at low cost, and allow them deploy previous resources back in business scene.
Over 50% of large enterprises globally are expected to have hybrid cloud arrangements by the end of 2017.
Source: ET tch
