n the face of continuous change and global challenges, Oracle is using its own cloud technology to transform, stay ahead, and achieve long-term success.
Over the past few years, Oracle has faced the same challenges our customers have—a global pandemic, a war in Europe, massive-scale supply chain disruption, and increasing competition to attract and retain talent, to name a few. Pre-pandemic, we moved our end-to-end business to Oracle Cloud, which laid the foundation for us to remain agile during a time of near-constant change.
Our move to the cloud began with our shift from selling products that were only updated every few years to selling services that are continuously updated with the latest capabilities. In transforming, we’ve had to reimagine both how we engage our customers and how we operate. This was no simple feat. Oracle is a large business and a complex one too. We have over 170,000 employees, do business in 175 countries, and serve over 400,000 customers.
Today, we use the same data centers, the same cloud services, and the same versions as our customers. With Oracle Cloud, we’ve been able to connect and gain visibility into our end-to-end operations, make smarter decisions, faster, and benefit from continuous innovation.
For example, in Finance, our adoption of Oracle Fusion Cloud ERP has enabled us to close our books and report earnings to the street in just 10 days—21 days faster than average, and faster than any other company in the S&P 500. In HR, Oracle Cloud HCM has helped us reduce talent review cycles by 71%. With Oracle Cloud Supply Chain Management, we’ve reduced planning cycles from one week to 48 hours. With Oracle Cloud CX, today, more than 90% of orders are fully automated and can be completed within minutes. And, thanks to OCI, we’re benefiting from up to 10X application performance alongside new cost savings.
These improvements across our business translate into broader impact. We’re seeing new efficiencies because our employees are more productive. Employees, managers, and executives at Oracle can now access insights almost in real time, to make better decisions and move faster to quickly adapt and plan, especially when faced with the unexpected. And leveraging the continuous innovation available in the cloud, we’re able to deliver better experiences, without disruption, to those we serve, including customers, partners and employees. As a result, we’ve seen an increase in satisfaction rates from our users, accelerated innovation, new cost savings, and market share gains.
The benefits of Oracle Cloud have been stunning, but our transformation did not come without its challenges and lessons learned. To hear more about Oracle’s move to cloud and how we continue to innovate, please join me at the Plan, Adopt, Innovate experience at Oracle CloudWorld. There, you will also hear from other Oracle executives leading our business transformation alongside executives from customer organizations across industries who are leveraging Oracle technology to address their biggest challenges, transform their businesses, and achieve their goals.
I hope you and others from your organization can join us to learn from our journey to Oracle Cloud, including the outcomes you can achieve and pitfalls you may want to avoid. See you in Las Vegas from October 17-20.