Road to Oracle: Oracle Technology's Role in Boosting Growth With IAC VP Paul Scribano

Road to Oracle CloudWorld | IAC’s Oracle Journey


The Big Themes



IAC’s use of Oracle Technology: IAC, a
conglomerate of diverse companies, employs various Oracle
products to streamline transactions, accounting, finance, and
reporting, ensuring accuracy and efficiency. It historically
used third-party hosting facilities but has migrated everything
to Oracle Cloud Infrastructure (OCI).


Innovation and growth: Oracle applications
provide tools for intricate revenue and lease accounting rules,
negating the need for third-party systems. This approach offers
better control, compliance, and cost-effectiveness and promotes
innovation and growth.


Enhancing Employee and Customer Experiences:
All end users, including employees, should be considered
customers. Oracle’s technology enables smoother experiences by
improving backend systems. An example is given of a significant
reduction in processing time for a specific report.



The Big Quote: “So, with various 606 revenue rules, with various
842 lease accounting rules, the Oracle applications allow us to
expand and utilize the functionality that’s inherently available
in the applications, therefore allowing us not to bolt in any
third-party applications, which is hugely beneficial for multiple
reasons. One being, you have one less system to manage; two, you
have better compliance and controls over the data; [and] three,
it’s cost-efficient, as well.”


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