Oracle VP: 80% of New Capabilities Stem from Customer Feedback

Rajan Krishnan, Group Vice President of Applications Development at Oracle, discusses several key topics. Firstly, he addresses the growing adoption of Software as a Service (SaaS) applications in India, highlighting the trend and its implications for businesses and technology adoption in the country.

Organizations worldwide, including those in India, are increasingly adopting cloud technology and modern applications to improve various aspects of their operations. This includes functions like finance, human resources, and customer experience, where consistent processes are crucial for success. For Oracle, these applications cover enterprise resource planning, supply chain management, human capital management, and customer experience.

Rajan Krishnan, Group Vice President of Applications Development at Oracle, discusses the growing adoption of Software as a Service (SaaS) applications in India. He also explores the role of Generative AI in enhancing these applications and sheds light on Oracle’s approach to driving innovation. Below are some edited excerpts from the conversation:

A. Oracle’s approach to Software as a Service (SaaS) is distinct from that of our competitors. We offer a comprehensive suite of SaaS applications covering various areas such as enterprise resource planning (ERP), supply chain management, human resources, and customer experience. What sets us apart is the completeness of our SaaS portfolio, which is delivered by a single company. This comprehensive approach within our SaaS offerings distinguishes us from other options available in the market.

We possess a unique advantage as the only SaaS company that also operates as a full-fledged platform and infrastructure company. Unlike our competitors, who typically specialize in either SaaS, platform, or infrastructure services, we excel in all three areas. This unique positioning benefits our customers tremendously. Firstly, it allows us to innovate at a faster pace, delivering cutting-edge solutions to meet evolving business needs. Additionally, our robust architecture enables our customers to adapt to change more effectively, whether it’s responding to the pandemic, embracing Gen AI, or integrating emerging technologies like blockchain and IoT. Our industry applications are built on this same robust infrastructure, forming the backbone of our SaaS and cloud strategy, which ultimately drives our growth strategy forward.

A. The adoption of Oracle SaaS applications is being driven by several key factors globally. While different verticals contribute to growth in various ways, we have over 14,000 customers across major sectors such as banking, financial services, telecom, healthcare, public sector, government, retail, and gaming. We see significant uptake across all these verticals, with notable growth in sectors like banking, finance, healthcare, and manufacturing.

In the Indian market, we have notable customers across various sectors. Apollo, particularly Apollo Lifestyle, has recently standardized on Oracle ERP, separate from Apollo Hospitals themselves. Additionally, Omega Healthcare and Fortis are among the many healthcare customers we serve in India. In the financial services sector, major banks like ICICI and HDFC rely on Oracle Fusion Applications for their HR processes. Furthermore, in manufacturing, companies like myTVS have recently implemented our solutions. This aftermarket initiative focuses on training resources at the grassroots level to service vehicles from TVS. Overall, the adoption of Oracle SaaS applications is being driven by key sectors globally, including banking, healthcare, and manufacturing, and we see similar trends reflected in the Indian market.

A. Generative AI has already gained significant momentum, and its relevance in enhancing the applications ecosystem is undeniable. We introduced Generative AI capabilities last year in 2023, specifically tailored to enterprise business processes. While Generative AI at large is powerful, it’s essential to recognize its limitations in handling private and proprietary information inherent in business contexts. Unlike generic applications of Generative AI, such as OpenAI and ChatGPT, which operate based on publicly available data, our strategy involves combining the capabilities of large language models (LLMs) with proprietary business system information. By integrating these two sources of data, we aim to create meaningful updates within SaaS applications tailored to specific business processes like HR, customer experience, or supply chain management. This approach ensures that the generated insights are not only powerful but also relevant and applicable to the unique needs of our customers’ businesses.

Certainly! Let’s consider a tangible example in the context of HR. Imagine you’re a recruitment manager tasked with creating a job post. With traditional AI models like ChatGPT, you can generate the job post, but the analysis of its effectiveness remains outside of your enterprise’s systems. However, with our GenAI capabilities integrated into the HR application, the entire process becomes seamless. You provide some bullet points, and GenAI generates a well-crafted job description for you within the HR application itself. It then posts the job description and monitors the results, analyzing which postings attract the most talented candidates. This example illustrates how GenAI can enhance HR processes by providing end-to-end support, from content generation to analysis, all within the enterprise environment.

Absolutely! Let’s consider another practical example in the realm of customer service. Imagine you’re a customer service agent handling a call from a customer with an issue. With GenAI functionality integrated into the customer service system, you have access to powerful tools to assist you in real-time. As you speak with the customer, GenAI quickly analyzes the caller’s identity and retrieves relevant information from internal knowledge articles to help address the issue efficiently.

Moreover, it provides instant summaries of the call as it progresses, allowing you to stay informed and provide better service without delay. The entire call is recorded and stored within the system for future reference, ensuring a seamless and effective customer service experience. This example highlights how GenAI can revolutionize customer service operations by enhancing agent productivity and improving customer satisfaction in real-time.

Gen AI capabilities have already been integrated into various processes such as HR, supply chain, and finance, offering real-time assistance and insights. These functionalities have been introduced in recent months, with more use cases planned for the future. Gen AI is not just a future prospect but is actively shaping the present landscape of enterprise applications.

In 2026, Gen AI SaaS apps are expected to be highly evolved, with capabilities tailored to meet the specific needs and preferences of customers. Currently, we have introduced approximately 50 processes or use cases integrated with Gen AI functionalities across our customer base of 14,000 organizations. The development of future capabilities follows an iterative model, driven by customer feedback and insights. Through our platform, Oracle Cloud Customer Connect, customers actively contribute ideas and suggestions, influencing the direction of product development. As a result, around 80% of new capabilities are sourced directly from customer input, ensuring that Gen AI SaaS apps of 2026 are not only innovative but also deeply aligned with customer requirements and expectations.

The specifics of what Gen AI SaaS apps will look like in 2026 are uncertain, but our iterative approach ensures a robust exchange of information with customers to drive future product direction. Last year, we couldn’t have predicted the 50 use cases introduced between 2023 and 2024, yet here we are. This iterative process allows for continual innovation and adaptation to evolving customer needs.

In 2024, we anticipate key trends shaping SaaS apps, starting with the completeness of portfolios in ERP, supply chain, HCM, and CX. These areas are already robust, but we’re reimagining ERP as a business system for the entire ecosystem. For instance, within ERP, we’re introducing capabilities like B2B, which facilitate transactions beyond individual enterprises. This means manufacturers, banks, and distribution companies can seamlessly interact within the ERP system, streamlining processes and creating a more interconnected business ecosystem.

Virtual cards are emerging as a significant trend, as seen in our partnerships with Mastercard and HSBC. For HSBC, this presents a digital growth opportunity, enabling them to integrate card features directly into enterprise applications. Manufacturers, for example, can use virtual cards for corporate purchases or supplier invoice payments, streamlining processes, reducing transactional costs, and boosting productivity within the ecosystem.

In addition to ERP, we’re reimagining HCM to encompass the broader ecosystem. For example, job applications from platforms like Indeed or LinkedIn can seamlessly integrate into our HR applications for recruitment. This expansion beyond the enterprise aims to enhance efficiency and reduce transaction costs across the ecosystem.

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