Oracle unveils new version of Oracle Treasury

Oracle has unveiled a new version of Oracle Treasury, for companies to achieve regulatory compliance. A component of Oracle Financials, Oracle Treasury has recently been implemented by the Dubai-based Juma Al Majid Group.

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By  Maddy Reddy Published  November 16, 2003

Oracle Corporation has unveiled significant enhancements to Oracle Treasury, for companies to achieve regulatory compliance. A component of Oracle financials in its e-business Suite, Oracle Treasury was developed based on feedback from Oracle's customer advisory board.

"Using Oracle Treasury we have been able to fulfill the need for increased visibility into treasury activities while reducing costs," says Jawad Abu Farha, group IT director of the Dubai-based Juma Al Majid Group, which has recently implemented Oracle Treasury.

Other customers of Oracle Treasury in the Middle East include Emirates Airline and Al Fahim Group, with more than 500 regional organisations having deployed the Oracle e-business suite.

To help companies with issues such as regulatory compliance, the need for increased visibility into treasury activities and cost reductions, the latest version of Oracle Treasury includes enhancements such as enhanced regulatory compliance; enhanced Straight-Through Processing (STP); real-time cash positions and forecasts.

"Vendors that prove they are an integral part of the whole financial applications picture - all the way from general ledger to FX trading and hedging activities - are helping push the agenda of financial straight-through processing and making themselves part of an undeniable and crucial applications palette that every company will need to function in a highly regulated and profitable economy," says Scott Tiazkun, research manager, enterprise applications research, IDC, in a September 2003 report entitled 'Worldwide treasury management applications competitive analysis, 2003.'

The enterprise software vendor disclosed that the enhanced version of Oracle Treasury will be available in the Middle East during the first calendar quarter of 2004 for traditional deployment or delivery as an outsourced service.

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