REDWOOD SHORES, Calif., April 24, 2019 /PRNewswire/ -- The University of California San Diego, one of the country's top research institutions, is replacing its legacy financial management system with Oracle Enterprise Resource Planning (ERP) Cloud. Oracle ERP Cloud will enable UC San Diego to increase overall productivity and bolster decision making with real-time business insights and easily incorporate emerging technologies going forward.
Established in 1960, UC San Diego is one of the world's most reputable and innovative research universities with more than 36,000 students and nearly $5 billion in annual revenue. To increase efficiencies and improve decision-making, UC San Diego needed to replace its existing financial management system -- which had become complex and expensive to update -- with a secure, scalable and configurable business platform that could reduce redundant business processes and enable different campus systems to share financial data securely. After a nine-month competitive bid process, which included participation from more than 100 stakeholders and subject matter experts, the university selected Oracle ERP Cloud.
"Making sense of the data in our heavily-customized legacy ERP system was creating headaches for our finance team and required significant levels of technical support. It wasn't sustainable long term and was holding us back," said William McCarroll, Senior Director, Business & Financial Services General Accounting at UC San Diego. "We anticipate that Oracle ERP Cloud will give us better access to innovative new technology, without painful software upgrades, and improve our finance team's overall efficiency. Ultimately, we are implementing these system changes to keep UC San Diego moving forward as we nurture the next generation of changemakers."
Oracle ERP Cloud is designed to allow organizations like UC San Diego to be able to increase productivity, lower costs and improve controls. One benefit of Oracle ERP Cloud is it enables the university to move from overnight (and weekend) batch data processing to real-time business insights that significantly speed up month-end and year-end closing for the finance team. In addition, Oracle ERP Cloud will provide UC San Diego with tools to embrace finance best practices and more easily access and deploy emerging technologies to support changing organizational demands.
"We are seeing many higher education institutions leveraging our modern business applications to create efficiencies while reducing cost and dramatically impacting productivity," said Rondy Ng, senior vice president of applications development at Oracle. "With Oracle ERP Cloud, UC San Diego will be able to empower its finance team to play a strategic role in the university's success. We look forward to partnering with UC San Diego as it embraces new innovations."
About Oracle The Oracle Cloud offers a complete suite of integrated applications for Sales, Service, Marketing, Human Resources, Finance, Supply Chain and Manufacturing, plus Highly Automated and Secure Generation 2 Infrastructure featuring the Oracle Autonomous Database. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
About UC San Diego At the University of California San Diego, we constantly push boundaries and challenge expectations. Established in 1960, UC San Diego has been shaped by exceptional scholars who aren't afraid to take risks and redefine conventional wisdom. Today, as one of the top 15 research universities in the world, we are driving innovation and change to advance society, propel economic growth and make our world a better place. Learn more at www.ucsd.edu.