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Oracle, a provider of business software and hardware systems, announced the next generation of business applications, Oracle (News - Alert) Fusion Applications, which would enable customers to extend the value of their application environment by setting the standard for application architecture, design and use.

According to company officials, Oracle Fusion Applications have set a new standard for the users to innovate, work and adopt technology.

The application provides functionality for many industries and geographies in financial management, procurement and sourcing, project and portfolio management, human capital management, customer relationship management, supply chain management, and governance risk and compliance.

One of the benefits of the application is the service-oriented architecture. The application helps users manage functions across a heterogeneous environment such as distributed order orchestration and shared services procurement.

The application offers a role-based user experience, combining business intelligence, exception-based processing, transactions and collaboration in the context of the work being performed, the company said.

Another important feature of Oracle Fusion Applications is the embedded business intelligence, by which it provides information to take the right decisions within the context of the work being performed without approaching a separate BI system.

Oracle Fusion Application is built on a foundation of 100 percent standards-based middleware using a service oriented approach and a common data model. It benefits both the business and IT, accelerating the pace of change and innovation while simultaneously lowering both short and long-term costs, the company said.

The simplified configuration and a common data model enable a change-once-change everywhere approach to business speeding the pace of innovation and reducing the obstacles and delays.

Oracle Fusion Application features a role-based user experience that integrated business intelligence, exception-based alerts and collaboration capability delivered together in the context of the work being performed, company officials said.

The application provides organizations the choice of adopting a modular fashion and operation choices and to scale up and down depending upon the changes in the business needs.

Oracle Fusion Applications provide a set of deployment options such as on premise, private clouds, public clouds, and business process outsourcing or a combination of these.

Customers adopt Oracle Fusion Application to practice a modular fashion and to co– exist with the existing applications.

Recently Oracle also announced Oracle WebLogic Server 11g, a component of Oracle Fusion Middleware, running Oracle Linux on a HP ProLiant DL980 G7 server, together with Oracle Database 11g, achieved a world record single-node result with the SPECjAppServer2004 industry standard benchmark.