At a press briefing in Mumbai, Oracle executives unveiled Oracle’s renewed cloud strategy and go-to-market plan as the company looks to elevate the growing cloud market and play a more integral role in driving business transformation for its customers. Oracle is redefining industry landscapes. While its traditionally dominating sectors like BFSI, telecom, and public sector continue to grow, sectors like healthcare, BFSI, manufacturing and telecom, education etc. are leveraging Oracle cloud, giving the company a massive opportunity to accelerate India’s digital journey.
Notably, Oracle also recently disclosed significant progress in its generative AI strategy, spanning cloud infrastructure, applications, and platforms. This strategic initiative addresses some of the most pressing challenges their customers face. Oracle through its Oracle Cloud Infrastructure (OCI), Oracle Cloud Applications, and Industries solutions portfolio is playing a key role in driving digital transformation in India. The growing demand for modernisation, the infusion of AI-powered technologies, the emergence of multi-cloud and hybrid cloud environments, the need for security of data, need to improve efficiency and productivity, and speed to market – are all contributing to heightened demand for Oracle Cloud.
India growth statistics at a glance:
Oracle Cloud Infrastructure Oracle Applications
Clocked 50% YoY growth in cloud consumption in Q2FY24
Cloud@Customer offering grew 380% YoY in Q2FY24
SMB business has witnessed over 70% YoY consistent growth in consumption for the past three years
Oracle applications
Fusion applications saw a double-digit growth in H1FY24 with continuous growth riding on 43% in Q4FY23
Within SaaS, ERP cloud business a big growth driver contributing 34% growth in H1 FY24 YoY.
Q2FY24 has been the 3rd consecutive quarter of growth for Oracle Fusion Cloud business
In Q2FY24, gained 28% revenues from net new customers
In Q2FY24, saw 13% overall growth – core ERP with 14%.
Notable customer wins:
Oracle cloud infrastructure: CRIF High Mark, Max Life Insurance, Lulu Group, TVS Credit Services, Tata AIG, Motherson Sumi, Cholamdalam Investments, Digital India Corporation, Kirloskar Management Services, Poonawala Housing, Toyota Financial Services, Mehsana Urban Cooperative Bank, Tata Motors, IFFCO eBazar, Bharti Airtel, WIPRO, Kotak Mahindra Bank, PUDA, myTVS and Cognizant.
Oracle fusion cloud applications: Jubilant FoodWorkS, Tirupati – Lord of Seven Hills, RJ World, Caratlane, Jindal Pipes, Jaquar, Motherson Sumi, Grasim Industries, Fine Organics, Fullerton India, Mphasis, EXL, Girnar Software, Icertis, Accelalpha Software, Tech Mahindra, TCS, PwC, Arcesium India, Trafigura, SMFG, HDFC Credla, Equitas Small Finance Bank, Housing Finance, Religare Finance, Paymate, Vivriti Capital, SMGF India Credit, Fortis Healthcare, Shri Gangaram Hospital, Aster DM Healthcare, Indira IVF,
Marengo Asia Hospital, GSK Haleon, Starhealth, AGS Health, Asian Paints, Apollo Tyres, and Olam Group.
Top industries: Oracle is serving customers in India across several industries including BFSI, Healthcare, public sector, manufacturing, IT/ITes, and digital natives.
Industry trends:
Enterprises are pursuing a Digital-First Strategy
Customer Satisfaction and Innovation are the top Priorities for Indian Enterprises
Journey to the Cloud
Hybrid Cloud is the most sought-after choice for customers
Democratization of connected technology/innovation for industries
Generative AI will redefine work across functions
Enabling Sustainable technology
Governments Will Digitalize Their Economies
New launches:
Oracle announced new logistics capabilities within the Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) portfolio allowing customers to optimize logistics operations, increase visibility, reduce costs, automate regulatory compliance, and improve decision-making. The new capabilities within Oracle Transportation Management and Oracle Global Trade Management include:
o Expanded business intelligence capabilities
o Enhanced logistics network modeling
o New trade incentive program
o Updated Oracle transportation management mobile app
o Improved workbenches
Oracle also announced new AI tools in Oracle Autonomous Database: As AI innovations flood the market, customers face challenges of deciphering all the jargon, learn new tools, and even move their data to where the AI tools are. Oracle has announced several enhancements to Oracle Autonomous Database including cutting-edge innovations for integrating AI and advanced machine learning into applications.
These intuitive and easy-to-use enhancements include:
Autonomous Database Select AI allows developers to create AI-enabled applications that understand users’ natural language questions in a conversational thread and get answers from private data.
A new spatial enhancement in Oracle Machine Learning enables organizations to include location relationships in ML models for improved model accuracy.
A new user-friendly “no-code” model monitoring interface simplifies the timely detection of quality and concept drift in ML models.
A new UI for Autonomous Database Graph Studio enables the creation of property graph views on Resource Description Framework (RDF) knowledge graphs using a drag-and-drop method, allowing organizations to explore interconnections across knowledge silos without complex coding or data duplication.
Bandhan Bank Transforms Its Core Banking and Expands Digital Services with Oracle: Bandhan Bank, one of the largest private banks in India, proudly announces the successful overhaul of its core banking system and the expansion of its digital services through a strategic collaboration with Oracle. Leveraging Oracle FLEXCUBE and Oracle Banking Digital Experience, Bandhan Bank has not only modernized its operations in Retail and Wholesale Banking areas, but has also introduced new digital capabilities implementing Oracle Payments, Retail Loan Originations, and services for Retail Internet and Mobile Banking to cater to millions
of customers, particularly focusing on underserved segments within Indian society. Max Life Insurance Selects Oracle Exadata Database Service to Support Exponential
Growth: Max Life Insurance Company Ltd. (“Max Life”/ “Company”) has moved all of its mission-critical database workloads to Oracle Exadata Database Service running on the Exadata platform in Oracle Cloud Infrastructure (OCI). In addition, Max Life has migrated its core systems to OCI, including customer service, claims management, marketing, and policy issuance, resulting in an application performance improvement of up to 70 percent.
Furthermore, Max Life’s business service uptime has remained close to 99 percent and system performance of core systems has improved by around 30 percent, thereby contributing to business agility and customer experience.
Oracle cloud strategy through partnerships
Microsoft and Oracle have been working together to make it easy for those customers to seamlessly connect Azure Services with the very latest Oracle Database technology. By collocating Oracle Exadata hardware in Azure datacentres, customers will experience the best possible database and network performance.
Oracle’s strategic collaborations with Microsoft and VMware underscore its dedication to seamlessly integrating multi-cloud environments, providing customers with a best-of-both- cloud experience.
Supporting quotes:
Srikanth Doranadula, Group Vice President, Technology, Oracle India
“In India, Oracle has clocked 50% YoY growth in cloud consumption in the recent quarter. Also,
our SMB business has been growing in cloud consumption by over 70% for the past three years. Our cloud regions in Mumbai and Hyderabad are running at full capacity, with customers deriving business benefits of scale, price, performance, and reduced costs – it’s multicloud orvhybrid cloud. Oracle is driving change in industries and dominates some of the biggest transformations in India – be it in bank insurance or UPI fintech or NBFCs, the public sector, telco digital natives, or education. Our Next-gen technologies like AI, ML, and edge computing will help our customers unlock new possibilities for automation and intelligent cloud solutions.”
Deepa Param Singhal, Vice President, Cloud Applications, Oracle India
“At the forefront of India’s digital transformation, Oracle aims to maintain its leadership through steadfast innovation, strategic collaborations, and a deep focus on customer and workforce success. Generative AI is riding on the paradigm shift to reshape industries, amplify human capabilities and creativity, and aid in redefining the fabric of work. Our goal is to help customers leverage AI to optimise costs and performance and minimize the need for human action. We are bullish on sectors like healthcare, e-commerce, IT services, BFSI, public sector – they are all modernising at a rapid pace. Oracle Fusion Applications business has been growing and Oracle Fusion Cloud ERP is one of the biggest contributors, growing at 34%.”