THE ORACLE ERP SOFTWARE

Oracle ERP software which stands for Enterprise Resource planning software is a cloud based program that was developed by Oracle Corporation firm, a computer software firm headquartered in California. The software is designed to serve in business operations including financial, procurement, project and financial management. Oracle ERP has been essential and significant importance in business operations in the current competitive, profitable world (Palaniswamy & Frank, 2002). The application is readily accessible in both public and private mode through hybrid deployment technology.

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In the E-business; Oracle ERP, there is enterprise planning options, applications designed to suite chain-supply and customer relations. It serves as a booster in improving the operation of an organisation by minimising human labour to computer operations that are fast, accurate and effective. In the financial business setting, the Oracle ERP has economic and other data management specially designed to track all activities and transactions which controls money loss to increase profit margin which is the core aim of the organisation (Iyer & Hare, 2012). It improves productivity in the firm to allow healthy competition with other related firms ensuring mass and quality production process.

Oracle ERP is essential in an organization formation system to allow flexibility of its operations. The general production system in an organization includes a regular flow of raw materials, the processing stage where input is changed to useful complete products released to the consumer's output.

To help in solving financial and procurement problems in institutions research was conducted to help come up with a permanent solution which can also be used as a source of income to the individuals developing the solution. The study is about applying technological measure called the ERP software in resolving financial hitches.

ERP implementation process

The implementation process of the application software involves the installation in the system to allow ERP to access and modify the data storage system. ERP experts also offer training service to the users for easy application in the running of the institution. The software is updated regularly to ensure new tools are incorporated to increase its performance. The main purpose for this implementation and system upgrade is to ensure a modern working environment.

Figure 1: ERP implementation graph.

Interconnection between institutional processes with information system technology

Institutions need an organized flow of service production system to ensure general accomplishment about achieving the set goals and provision to the community. These processes may include; an uninterrupted flow of materials needed to run the institution, updated database for information storage, steps set for the production process and goals to be achieved.

Mohammed bin Rashid University of medicine and health sciences

Mohammed Bin Rashid University of Medicine and Health Sciences naming can be traced from the UAE Vice President of Dubai called Sheikh Mohammed Bin Rashid. The university is aimed to provide leading health sciences programs (Ahmed, 2014). Therefore it is combined efforts and platforms that deal with health education-oriented organizations to enhance research and quality services. The university offers preclinical services to the students to ensure skilled health specialists.

The University offers various services facilities that require a well-designed and modern technological system to ensure a world-class learning institution recognized worldwide. Some of the services presents include; educational facilities, financial operations, staff employment, students' enrollment and other essential services that ensure proper running of the institution. The university also involves internal and proper procedures conducted to provide students, and the staff research is successful therefore enhancing the learning process which is the core business of the institution.

Figure 2: The university medical performance assessment graph.

Oracle ERP software has dramatically impacted in various activities and services conducted in the university. For example, the enterprise resource planning process to manage essential operations to guarantee the smooth running of the institution. The research paper was conducted to show request for proposal on the bidding process of the school projects where various candidates applied for the offer using the ERP application technology. The outline of the whole activity is clearly outlined to ensure clarity of the information provided and the requirements. The process included dates which indicated the order in which the process would be conducted.

The proposal required some motivating engines to attract more applicants for a wide range of services and product selection process. The offering of the best prices was among the motivational factors where the institution promised to ensure the project payment terms were right; this would provide more applicants interested in applying the bid. Candidates were also required to state a friendly price tag for their services. Rapid deployment was a topic of interest which involves data protection and implementation plan arrays that ensures data provided is accurate to enhance the profitability of the project. It also ensured the independence of the projects and other involved offers.

For the applicants, other essential requirements by the proposal as stated included; a VAT sensitive solution application which had to form the UAE region that is ready for the process. It also noted that the university is open for the cloud based hosting, a computing product to host information. The proposal had a fixed price where the supplier is required to deliver services as per the legal agreement of the project.

The other part of the proposal was confidentiality of the information and documents provided by the university to the service provider. The contractor had no mandate whatsoever to disclose any information to the third party without the permission for the institution administration concerned with the project. The contractor was not allowed to involve other organizations in offering any technical assistance if need be to consult was only allowed through a legal process which was also handled with the required confidentiality. Violation of the rule would eventually lead to contamination of the contract by the university.

The other part of the proposal included all the rules and regulations that were set aside to govern the contract. The law clearly stated that each contractor had an obligation to comply with all the rules in the United Arab Emirates. The other important part included institution management rejecting applied bids following various reasons. The reasons for rejection may include; failure to comply with terms provided to govern the proposal, contractors inclusive of unique condition that was not involved in the project and modification of the scheme by the contractor.

The application also included detailed pricing terms which would help the contractor in preparing the payment quotation for the service or products provided to the institution. The other important part of the application was the criteria used when selecting the best bidder for the offer. According to the institution, the contractor would be chosen to base on the decision by the management after evaluation of the conditions by the candidates. The institution will select the most favorable applicant who satisfies the following conditions: a suitable contractor with solutions to current problems affecting the university, an applicant who complies with all the requirements set for the tender, the most appropriate and experienced bidder referencing from other projects involved. The applicant with minimum requirements and price quotation would also be considered.

Project duration was included in the proposal as an essential factor to be well thought out by the candidates for the tender. The provided period was three months and an addition of one month for support purposes. After completion of the application process, the letters were to be submitted as electronic documents in PDF formats to the email provided to the applicants.

The use Oracle ERP for this process was well organized, minimized paperwork hence ensuring confidentiality of the data provided to the institution. Through this software, instructions were stated clearly following the desired order which provided the applicants with a platform to feed in their date easily. Through project management features, the software outlined all the requirements and conditions provided hence ensuring clarity of the information to the interested interviewees. Therefore, it can be considered institution friendly when preparing projects and other financial statements as it will minimize time, energy and resources exploited hence providing accurate data to enhance profitability and reliability.

Aims and objectives

The university has various departments that work closely together to ensure the success of daily routines and welfare. These departments require a mechanism applied to all the operations to create conducive working and learning environment for the staff and the students respectively. Each department tends to involve the Oracle ERP technology in daily activities to achieve their entire objectives.

Financial department

Detailed financial research was conducted that helped in reporting some of the critical operations under the commercial department. The study also evaluated the main objectives of the department to the entire University. The research aims at assessing ways in which financial mismanagement can be minimized through an accurate record tracking to ensure all transactions are transparent (Schlee, 2014).

According to the research, the financial department of the controlled all the transactions made in purchases, cash and assets management. Through ERP various objectives are achieved as follows; the department can maintain accounting and financial records which are useful in assessing the institution performance concerning developmental projects. The records ensure transparency and proper management of funds to avoid embezzlement.

The registration and authentication of transactions in the institution involving all the activities are accurately done as required by the policies set aside to ensure the management of resources. The software is responsible for all the registration and ensures records are well kept for debit and credit operations to avoid errors.

The department ensures financial reports and data for the accounting process is provided in good time to conduct a regular financial checkup in the reports as an obligation of the management. The ERP can prepare accurate reports that include all the financial expenditure throughout a given period to assess institutions financial status for development projects enhancing the learning process.

It is the financial department obligation to make any payments for the service provided to the university and ensure accurate data when approving budget the salaries. The department should compare the expenses with its finances and assess the difference to ensure no loss incurred during the activity. The department evaluates the financial problems of the institution and comes up with a proper solution.

Through the information system, the transaction process in the University is enhanced through service to operational managers and other staff involved. The software allows an accurate recording system for daily financial operations example petty cash payments, purchases and sales orders, and the shipping deliveries operations. The administration can monitor the institution financial status and the relationship to th...