Accenture and Oracle have expanded their partnership to support customers in expediting generative artificial intelligence (AI) adoption for finance organisations.
Both parties aim to invest in new generative AI solutions, tools, and training to enable institutions to maximise the value of their data to power next-level growth and continuous innovation.
The companies will help clients across industries to transform their businesses with generative AI, transitioning from experimentation to adoption at scale.
By utilising Oracle Cloud Infrastructure (OCI) generative AI, businesses will be able to boost efficiency, enhance resilience, and offer superior customer and employee experiences along with maintaining client data private and secure.
According to the parties, new generative AI-driven OCI solutions will deliver finance teams real-time data analysis and recommendations by initially focusing on digital finance transformation across industries.
Accenture chief AI officer Lan Guan said: “Our clients are laser-focused on moving beyond generative AI experimentation to value realisation. 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.
“Together with Oracle, we’re delivering the enterprise-grade generative AI solutions organisations need to drive new value and completely reimagine business functions and processes.”
The partnership brings together Accenture’s expertise in financial planning and analysis, corporate finance and risk, finance and accounting operations, and organisational design and Oracle’s technology.
It will help chief financial officers (CFOs) to simplify finance processes, accounting closes, filings and planning by utilising generative AI to speed up tasks that are arduous, time-intensive and manual.
The specific solutions and use cases will include procurement spend analysis, financial planning and analysis demand forecast and dynamic scenario planning.
Accenture’s switchboard will be employed in finance solutions to assist clients in selecting an optimal combination of foundation models, considering factors like cost and accuracy.
Accenture and Oracle are also collaborating to explore industry-specific generative AI solutions tailored for the healthcare and public sector domains.
Oracle AI and data management services senior vice president Greg Pavlik said: “Oracle continues to be at the forefront of enterprise AI, making generative AI available throughout our stack—from infrastructure to data and applications—to meet customers’ unique needs.
“We’re excited to be partnering with Accenture to deliver enterprise-class generative AI-powered solutions that address real-world business problems.”