Oracle Enterprise Resource Planning (ERP) Cloud offer a complete, innovative, and proven solution for organizations of all sizes who want to thrive in the digital economy. With industry standards and Modern Best Practice, Oracle is the one cloud for your entire business. Designed to grow with you, it manages accounting, financial planning and analysis (FP&A), revenue recognition, risk management, governance, compliance, procurement, project planning, tax reporting, the financial close, and so much more.
Trends in Oracle Enterprise Cloud Thailand
The cloud services market in Thailand is promising by the government’s guidance and market awareness to facilitate a digital economy. This is especially true when it comes to the government’s Thailand 4.0 agenda, which lays out development plans for a digital infrastructure.
Major clients of Oracle, especially users of Oracle’s E-Business Suite (EBS) are starting to see the needs and benefits of migrating to Oracle ERP Cloud. The business sector in Thailand is starting to experience rapid growth and the need to invest in new technology to need the demand of the changing marketplace. Thai Oracle Cloud offers an enterprise level applications and data management on their cloud platform, which is scalable, flexible, and cost-effective.
Other factors to the upward trend in moving to the cloud are the need to reduce IT infrastructure cost, and to alleviate upgrade fatigue. Also cloud users are realizing many benefits, including staying current on technology, faster deployments, security, and improved service.
Taxation is the main source of Thailand’s income. Pursuant to regulatory requirements, its Revenue Department require registered companies to collect the Value Added Taxes and Withholding Taxes, and on a timely bases the monies collected are submitted with the required reports to the government.
The current version of Oracle Cloud does not support Thailand’s Tax localization. Without Thai Tax localization, it is nearly impossible for Oracle to target the market in Thailand. It’s unknown now, when Oracle will make such enhancements.
Rapid4Cloud has the solution for Thai Localization, and to meet the Thai Government’s requirement for reporting.
What Rapid4Cloud will do for Oracle Financials Cloud
Rapid4Cloud’s presence as an Oracle Gold Partner in the international technology sector for over twenty-years has given us the experience and expertise of localizing Oracle ERP applications’ technical terms, instructions, data, and support software from English to Thai.
We have taken into consideration the various technical aspects and issues related to:
- Oracle ERP Cloud Applications
- Technical Requirements and Design
- Financial Transaction and Exchange Requirements (which includes date/time/currency formats)
- Thai Business Practices, government regulations, and Social Values
These unique localization skills acquired by our specialists offer the best solution in providing Oracle applications and processes in the Thai language. This knowledge base enables translation of complex technical and process terms to be easily understood by native Thai speakers in the business and technical field.
In addition, a group of our Oracle Consultants, who are based in Thailand enhances our ability to meet your expectations in implementing any Oracle application, from a technical procedural standpoint, but also in assisting your technical staff ensuring that your implementation goes accordingly as planned.
Rapid4Cloud implementation for Oracle ERP Cloud
Rapid4Cloud’s add-on for Oracle Cloud will enable the Thailand Tax localization feature. This add-on generates a set of value added tax and withholding tax related reports that will meet Thailand’s regulatory requirements in the following modules:
- General Ledger
Thirty-seven (37), VAT and WHT related reports are generated from Payables, Receivables, Inventory, and General Ledger data to fulfill the Thai Government’s regulatory requirements. Rapid4Cloud’s add-on is the major feature that implements fully compliance with these obligations, thus saving you the cost of the time-consuming task of tax reporting.