38-645: Oracle Financial Services Software Limited ( OFSS ) is an Indian subsidiary of Oracle Corporation which is involved in financial and insurance technology. Established in 1990, the company was known as i-flex Solutions until 2008, two years after its acquisition by Oracle. It is headquartered in Mumbai . In 1992, the non-Citi operation’s software business was spun off into a separate company, Citicorp Information Technology Industries Ltd. (Citil), subsequently called i-flex Solutions. The venture, headed by Rajesh Hukku, received seed funding of $ 400,000 from Citicorp. Citil inherited
76-600: A $ 1 billion investment in Spain to enhance artificial intelligence and cloud computing. This investment will create a new cloud region in Madrid in partnership with Telefónica . The goal is to help Spanish businesses and the public sector with digital transformation and to meet European Union regulations . Oracle designs, manufactures, and sells both software and hardware products and offers services that complement them (such as financing, training, consulting, and hosting services). Many of
114-401: A book detailing the war between Oracle and Informix was published, titled The Real Story of Informix Software and Phil White . It gave a detailed chronology of the battle of Informix against Oracle, and how Informix Software's CEO Phil White landed in jail because of his obsession with overtaking Ellison. Once it had overcome Informix and Sybase, Oracle Corporation enjoyed years of dominance in
152-431: A drive toward "wizard"-driven environments with a view to enabling non-programmers to produce simple data-driven applications. Oracle Corporation works with "Oracle Certified Partners" to enhance its overall product marketing. The variety of applications from third-party vendors includes database applications for archiving, splitting and control, ERP and CRM systems, as well as more niche and focused products providing
190-579: A further 7.52% in March and April 2006, and 3.2% in an open-market purchase in mid-April 2006. In August 2006, i-flex Solutions acquired Mantas, a US-based anti-money laundering and compliance software company for US$ 122.6 million. The company part-funded the transaction through a preferential share allotment to the majority shareholder Oracle Corporation. On 12 January 2007, after an open offer price to minority shareholders, Oracle increased its stake in i-flex Solutions to around 83%. On 4 April 2008, Oracle changed
228-786: A range of commercial functions in areas like human resources , financial control and governance, risk management, and compliance (GRC). Vendors include Hewlett-Packard , Creoal Consulting, UC4 Software, Motus , and Knoa Software. Oracle Enterprise Manager (OEM) provides web-based monitoring and management tools for Oracle products (and for some third-party software), including database management, middleware management, application management, hardware and virtualization management and cloud management. The Primavera products of Oracle's Construction & Engineering Global Business Unit (CEGBU) consist of project-management software. Oracle Corporation's tools for developing applications include (among others): Many external and third-party tools make
266-478: A rate of 14.5% to $ 6.2 billion, giving it 41.3% and the top share of the relational-database market ( InformationWeek – March 2005), with market share estimated at up to 44.6% in 2005 by some sources. Oracle Corporation's main competitors in the database arena remain IBM Db2 and Microsoft SQL Server , and to a lesser extent Sybase and Teradata , with free databases such as PostgreSQL and MySQL also having
304-561: A re-branding exercise in the latter half of 2008. As part of this, the corporate website was integrated with Oracle's website. Various divisions, services, and products were renamed to reflect the new identity post-alignment with Oracle. Recently, Oracle Financial Services launched products for Internal Capital Adequacy Assessment Process, exposure management, enterprise performance management and energy, and commodity trading compliance. The company promotes its BPO business process outsourcing business via its subsidiary Equinox Corporation which
342-425: A reduced amount or a new trial, calling Oracle's original award "grossly" excessive. Oracle chose a new trial. On August 3, 2012, SAP and Oracle agreed on a judgment for $ 306 million in damages, pending approval from the U.S. district court judge, "to save time and expense of [a] new trial". After the accord has been approved, Oracle can ask a federal appeals court to reinstate the earlier jury verdict. In addition to
380-603: A significant share of the market. EnterpriseDB , based on PostgreSQL, has recently made inroads by proclaiming that its product delivers Oracle compatibility features at a much lower price-point. In the software-applications market, Oracle Corporation primarily competes against SAP . On March 22, 2007, Oracle sued SAP , accusing them of fraud and unfair competition. In the market for business intelligence software, many other software companies—small and large—have successfully competed in quality with Oracle and SAP products. Business intelligence vendors can be categorized into
418-509: A single inappropriate download is unacceptable from my perspective. We regret very much that this occurred." Additionally, SAP announced that it had "instituted changes" in TomorrowNow's operational oversight. On November 23, 2010, a U.S. district court jury in Oakland, California , found that SAP AG must pay Oracle Corp $ 1.3 billion for copyright infringement, awarding damages that could be
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#1732869382937456-524: A single platform. Customers can use Beehive as licensed software or as software as a service ("SaaS"). Following a number of acquisitions beginning in 2003, especially in the area of applications, Oracle Corporation as of 2008 maintains a number of product lines: Development of applications commonly takes place in Java (using Oracle JDeveloper ) or through PL/SQL (using, for example, Oracle Forms and Oracle Reports/BIPublisher). Oracle Corporation has started
494-750: A variety of programming languages , databases , tools and frameworks including Oracle-specific, free and third-party software and systems. On May 16, 2018, Oracle announced that it had acquired DataScience.com, a privately held cloud workspace platform for data science projects and workloads. In 2022 Oracle shared a $ 9 billion contract from the United States Department of Defense for cloud computing with Amazon, Google, and Microsoft. In 1990, Oracle laid off 10% (about 400 people) of its work force because of accounting errors. This crisis came about because of Oracle's "up-front" marketing strategy, in which sales people urged potential customers to buy
532-548: Is based in Irvine, California . In 2002, DotEx International Joint Venture NSE.IT and i-flex Solutions Ltd signed a memorandum of understanding (MoU) with BgSE Financials Ltd to provide Internet trading services. Oracle Corporation Oracle Corporation is an American multinational computer technology company headquartered in Austin, Texas . Co-founded in 1977 by Larry Ellison , who remains executive chairman, Oracle ranked as
570-450: The Internet . Oracle Cloud provides Infrastructure as a Service (IaaS) , Platform as a Service (PaaS) , Software as a Service (SaaS) and Data as a Service (DaaS) . These services are used to build, deploy, integrate and extend applications in the cloud. This platform supports open standards ( SQL , HTML5 , REST , etc.) open-source solutions ( Kubernetes , Hadoop , Kafka , etc.) and
608-640: The leadership , and saw an opportunity to lure in customers from those companies that Oracle Corporation had acquired. SAP would offer those customers special discounts on the licenses for its enterprise applications. Oracle Corporation would resort to a similar strategy, by advising SAP customers to get "OFF SAP" (a play on the words of the acronym for its middleware platform "Oracle Fusion for SAP"), and also by providing special discounts on licenses and services to SAP customers who chose Oracle Corporation products. Currently Oracle and SAP (the latter through its recently acquired subsidiary TomorrowNow ) compete in
646-844: The third-largest software company in the world by revenue and market capitalization as of 2020, and the company's seat in Forbes Global 2000 was 80 in 2023. The company sells database software , particularly the Oracle Database , and cloud computing . Oracle's core application software is a suite of enterprise software products, such as enterprise resource planning (ERP) software, human capital management (HCM) software, customer relationship management (CRM) software, enterprise performance management (EPM) software, Customer Experience Commerce (CX Commerce) and supply chain management (SCM) software. Larry Ellison co-founded Oracle Corporation in 1977 with Bob Miner and Ed Oates under
684-490: The "big four" consolidated BI firms such as Oracle, who has entered BI market through a recent trend of acquisitions (including Hyperion Solutions ), and the independent "pure play" vendors such as MicroStrategy , Actuate , and SAS . Oracle Financials was ranked in the Top 20 Most Popular Accounting Software Infographic by Capterra in 2014, beating out SAP and a number of their other competitors. From 1988, Oracle Corporation and
722-545: The German company SAP AG had a decade-long history of cooperation, beginning with the integration of SAP's R/3 enterprise application suite with Oracle's relational database products. Despite the SAP partnership with Microsoft, and the increasing integration of SAP applications with Microsoft products (such as Microsoft SQL Server , a competitor to Oracle Database), Oracle and SAP continue their cooperation. According to Oracle Corporation,
760-485: The Oracle database administrator 's tasks easier. Oracle Corporation develops and supports two operating systems: Oracle Solaris and Oracle Linux . Oracle Cloud is a cloud computing service offered by Oracle Corporation providing servers, storage, network, applications and services through a global network of Oracle Corporation managed data centers . The company allows these services to be provisioned on demand over
798-528: The ability to search for content across multiple locations, including websites, XML files, file servers, content management systems , enterprise resource planning systems, customer relationship management systems, business intelligence systems, and databases. Released in 2008, the Oracle Beehive collaboration software provides team workspaces (including wikis , team calendaring and file sharing), email, calendar, instant messaging, and conferencing on
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#1732869382937836-545: The company announced it was going to invest $ 1.5 billion into the Kingdom of Saudi Arabia as a part of the ongoing tech investment in the country. As a part of the investment, Oracle will be opening a data centre in the country's capital, Riyadh . On April 23, 2024, Oracle announced it was moving its world headquarters from Austin to a new complex in Nashville, Tennessee . No timeframe was given. On June 20, 2024, Oracle announced
874-477: The company's senior programmer. On March 12, 1986, the company had its initial public offering . In 1989, Oracle moved its world headquarters to the Redwood Shores neighborhood of Redwood City, California , though its campus was not completed until 1995. In 1995, Oracle Systems Corporation changed its name to Oracle Corporation , officially named Oracle, but is sometimes referred to as Oracle Corporation,
912-420: The damages payment, SAP has already paid Oracle $ 120 million for its legal fees. Oracle Corporation produces and distributes the "Oracle ClearView" series of videos as part of its marketing mix. Oracle was ranked No. 82 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. According to Bloomberg, Oracle's CEO-to-employee pay ratio is 1,205:1. The CEO's compensation in 2017
950-411: The database market until the use of Microsoft SQL Server became widespread in the late 1990s and IBM acquired Informix Software in 2001 (to complement its Db2 database). Today Oracle competes for new database licenses on UNIX, GNU, and Windows operating systems primarily against IBM's Db2 and Microsoft SQL Server. IBM's Db2 still dominates the mainframe database market. In 2004, Oracle's sales grew at
988-399: The error codes for their DBMS a secret. SDL changed its name to Relational Software, Inc ( RSI ) in 1979, then again to Oracle Systems Corporation in 1983, to align itself more closely with its flagship product Oracle Database . The name also drew from the codename of a 1977 Central Intelligence Agency project, which was also Oracle's first customer. At this stage, Bob Miner served as
1026-953: The largest possible amount of software all at once. The sales people then booked the value of future license sales in the current quarter, thereby increasing their bonuses. This became a problem when the future sales subsequently failed to materialize. Oracle eventually had to restate its earnings twice, and also settled (out of court) class-action lawsuits arising from its having overstated its earnings. Ellison stated in 1992 that Oracle had made "an incredible business mistake". In 1994, Informix overtook Sybase and became Oracle's most important rival. The intense war between Informix CEO Phil White and Ellison made front-page news in Silicon Valley for three years. Informix claimed that Oracle had hired away Informix engineers to disclose important trade secrets about an upcoming product. Informix finally dropped its lawsuit against Oracle in 1997. In November 2005,
1064-422: The largest-ever for copyright infringement. While admitting liability, SAP estimated the damages at no more than $ 40 million, while Oracle claimed that they are at least $ 1.65 billion. The awarded amount is one of the 10 or 20 largest jury verdicts in U.S. legal history. SAP said they were disappointed by the verdict and might appeal. On September 1, 2011, a federal judge overturned the judgment and offered
1102-540: The legacy software Microbanker from Citi Overseas Software. With the revenue from selling Microbanker to customers in mostly Africa and later to other markets, Citil invested in developing Flexcube, their following software product. Flexcube was very successful and claimed the top spot in the annual sales ranking by International Banking Systems, a U.K.-based industry publication, in 2002. Oracle purchased Citigroup's 41% stake in i-flex Solutions for US$ 593 million in August 2005,
1140-418: The majority of SAP's customers use Oracle databases. In 2004, Oracle began to increase its interest in the enterprise-applications market (in 1989, Oracle had already released Oracle Financials). A series of acquisitions by Oracle Corporation began, most notably with those of PeopleSoft , Siebel Systems and Hyperion . SAP recognized that Oracle had started to become a competitor in a markets where SAP had
1178-564: The name Software Development Laboratories ( SDL ). Ellison took inspiration from the 1970 paper written by Edgar F. Codd on relational database management systems ( RDBMS ) named "A Relational Model of Data for Large Shared Data Banks." He heard about the IBM System R database from an article in the IBM Research Journal provided by Oates. Ellison wanted to make Oracle's product compatible with System R, but failed to do so as IBM kept
Oracle Financial Services Software - Misplaced Pages Continue
1216-580: The name of the company to Oracle Financial Services Limited. Now, Oracle Financial Services Software Limited is a major part of Oracle Financial Services Global Industry Unit (FSGIU). Oracle Financial Services Software Limited has two main streams of business. The products division (formerly called BPD – Banking Products Division) and PrimeSourcing. The company's offerings cover retail, corporate, and investment banking, funds, cash management, trade, treasury, payments, lending, private wealth management, asset management, and business analytics. The company undertook
1254-888: The name of the holding company. Oracle acquired the following technology companies: On July 15, 2013, Oracle transferred its stock listing from Nasdaq to the New York Stock Exchange . At the time, it was the largest-ever U.S. market transfer. In an effort to compete with Amazon Web Services and its products, Oracle announced in 2019 it was partnering with former rival Microsoft . The alliance claimed that Oracle Cloud and Microsoft Azure would be directly connected, allowing customers of each to store data on both cloud computing platforms and run software on either Oracle or Azure. Some saw this not only as an attempt to compete with Amazon but also with Google and Salesforce , which acquired Looker and Tableau Software , respectively. On December 11, 2020, Oracle announced that it
1292-676: The products have been added to Oracle's portfolio through acquisitions . Oracle's E-delivery service (Oracle Software Delivery Cloud) provides generic downloadable Oracle software and documentation. Oracle Corporation has acquired and developed the following additional database technologies: Oracle Fusion Middleware is a family of middleware software products, including (for instance) application server , system integration , business process management (BPM), user interaction, content management , identity management and business intelligence (BI) products. Oracle Secure Enterprise Search (SES), Oracle's enterprise-search offering, gives users
1330-464: The suit could form part of a strategy by Oracle Corporation to decrease competition with SAP in the market for third-party enterprise software maintenance and support. On July 3, 2007, SAP admitted that TomorrowNow employees had made "inappropriate downloads" from the Oracle support website. However, it claims that SAP personnel and SAP customers had no access to Oracle intellectual property via TomorrowNow. SAP's CEO Henning Kagermann stated that "Even
1368-447: The third-party enterprise software maintenance and support market. On March 22, 2007, Oracle filed a lawsuit against SAP. In Oracle Corporation v. SAP AG Oracle alleged that TomorrowNow, which provides discount support for legacy Oracle product lines, used the accounts of former Oracle customers to systematically download patches and support documents from Oracle's website and to appropriate them for SAP's use. Some analysts have suggested
1406-441: Was $ 108,295,023. Oracle is one of the approved employers of ACCA and the median employee compensation rate was $ 89,887. Oracle reported total carbon dioxide equivalent (CO 2 e) emissions (direct + indirect) for the twelve months ending December 31, 2020 at 428 kilotonnes (+63/+17% year over year) and plans to reduce emissions 26% by 2025 from a 2015 base year. Ed Oates Too Many Requests If you report this error to
1444-497: Was moving its world headquarters from Redwood Shores to Austin, Texas. In December 2021, Oracle announced the acquisition of Cerner , a health information technology company. The acquisition of Cerner was completed on June 8, 2022, for US$ 28.3 billion in cash. Also in December 2021, Oracle announced the acquisition of Federos, an artificial intelligence (AI) and automation tools company for network performance. In February 2023,
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