Oracle has just unveiled a new product: Oracle Project Procurement, as part of E-Business Suite Release 12.2.4.

Oracle describes Project Procurement as enabling project teams to establish and measure strategic project objectives and drive project procurement planning, decision-making and execution throughout the lifecycle of a project.

The solution reportedly provides an integrated platform for project managers and project buyers to collaborate, giving everyone the information they need to make planning and execution decisions without the need to “alert, notify or engage in unproductive communication.” That’s an interesting statement!

Oracle states that Project Procurement “breaks traditional functional silos and communication gaps between project management and procurement by ensuring your project teams are on the same page at all times in the project’s lifecycle.”

The announcement also stated that E-Business Suite Project Portfolio Management and Advanced Procurement users would find that implementing Oracle Project Procurement will deliver immediate benefits. Project Procurement integrates with Oracle Project Management, Oracle Project Costing, Oracle Project Resource Management, Oracle Purchasing, Oracle Sourcing, Oracle iProcurement, Oracle Supplier Lifecycle Management, and Oracle Payables. In addition, users leverage Project Procurement’s Command Center without having to access all the integrated modules separately.

Download the product datasheet here to learn more about this new Oracle product.