Accenture and Oracle Collaborate to Help Clients Accelerate Generative AI Adoption, Starting with the Finance Organization

Building on their ecosystem partnership of more than 30 years, Accenture (NYSE: ACN) and Oracle (NYSE: ORCL) are investing in new generative AI solutions, tools, and trainings to help organizations maximize the value of their data to drive next-level growth and continuous innovation.

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Building on their ecosystem partnership of more than 30 years, Accenture and Oracle are investing in new generative AI solutions, tools, and trainings to help organizations maximize the value of their data to drive next-level growth and continuous innovation. (Graphic: Business Wire)

Together, Accenture and Oracle will help clients across industries reinvent their businesses with generative AI, moving from experimentation to adoption at scale. The companies will leverage Oracle Cloud Infrastructure (OCI) Generative AI to help increase efficiency, improve resilience, and deliver superior customer and employee experiences, while keeping client’s data private and secure. With an initial focus on driving digital finance transformation across industries, new generative AI-powered OCI solutions can provide finance teams with real-time data analysis and recommendations, transforming how decisions are made.

“Our clients are laser-focused on moving beyond generative AI experimentation to value realization. In fact, according to new Accenture research, 85% of C-suite leaders are confident they will achieve the expected ROI on their generative AI investments this year,” said Lan Guan, chief AI officer, Accenture. “Together with Oracle, we’re delivering the enterprise-grade generative AI solutions organizations need to drive new value and completely reimagine business functions and processes.”

For chief financial officers (CFOs), generative AI can help speed tasks that were once arduous, time-intensive and manual, simplifying finance processes, accounting closes, filings and planning. Harnessing Accenture’s extensive experience -- in financial planning and analysis, corporate finance and risk, finance and accounting operations, and organizational design -- coupled with Oracle technology, specific solutions and use cases can include:

• Procurement Spend Analysis: Leveraging client-specific data and generative AI and machine learning (ML) algorithms, procurement teams can make data-driven decisions based on business-relevant insights. With generative AI agents, teams can identify strategic opportunities for savings across the enterprise and take action to reduce costs.
• Financial Planning and Analysis Demand Forecast: With generative AI and ML, organizations can get a clear explanation of variances, factors and impacts that enable them to assess the changing demand for their products and services, generating more accurate forecasts.
• Dynamic Scenario Planning: Through generative AI, historical and real-time data analysis and a curated knowledge base, finance teams can explore various financial scenarios, perform what-if analysis, identify and understand the impacts of different actions to optimize departmental spending and allocate resources more efficiently. This generative AI-augmented analysis can reduce the time and effort required to identify optimization opportunities, allowing organizations to respond promptly to market changes.

The finance solutions will leverage Accenture’s proprietary switchboard to help clients select a combination of foundation models based on factors such as cost or accuracy. Together, the companies are also exploring industry-specific generative AI solutions in the healthcare and public sector space.