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Oracle (ORCL) Cloud Infrastructure Platform Leveraged by Wipro
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Oracle (ORCL - Free Report) recently announced that India-based Wipro Limited is implementing Oracle Cloud Infrastructure (“OCI”) services to boost its Cargo Reservations, Operations, Accounting and Management Information System (“CROAMIS”) Application suite.
Wipro’s CROAMIS solution is a comprehensive platform designed to handle all airline cargo management requirements.
By migrating to OCI, Wipro will be able to provide CROAMIS as part of Wipro FullStride Cloud Services. This will help Wipro to modernize the air cargo operations for clients and help the latter achieve scalability, increased security and slash data storage and outbound data transfer costs, noted Oracle.
Post migration of CROAMIS on Oracle Cloud, Wipro will deliver the application suite as a integrated software-as-a-service (SaaS) offering based on both Oracle Exadata Cloud Service and Oracle Exadata Database Cloud Service, powered by OCI’s strong compute capabilities.
This will render faster automation of processes like cargo capacity planning, sales, revenue management, cargo ground handling operations, customer services, freighter and charters, cargo revenue accounting, and billing for air cargo companies, added Oracle.
Wipro CROAMIS offering is likely to be available in the Oracle Cloud Marketplace by the end of 2021.
Momentum in Cloud Offerings to Drive Top Line
According to MarketsAndMarkets report, the global cloud computing market is expected to witness a CAGR of 16.3% between 2021 and 2026 and reach $947.3 billion.
Oracle’s performance is gaining from the momentum across the cloud business, driven by strong uptake of OCI services and Autonomous Database offerings. Healthy adoption of cloud-based applications, comprising NetSuite Enterprise Resource Planning (ERP), Fusion ERP and Fusion Human Capital Management (HCM) augurs well in the long haul.
The company’s SaaS, infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) products are likely to grow strongly over the next few years as enterprises rapidly migrate to the cloud environment.
For second-quarter fiscal 2022, Oracle’s Cloud services and license support revenues (73% of total revenues) increased 6% year over year (up 6% at constant currency) to $7.554 billion. The upside can be attributed to continued strength in the Fusion, Autonomous Database and OCI services.
In the fiscal second quarter, management noted that the company’s IaaS and SaaS business increased 22% to $2.7 billion. Management added that the company’s total cloud business revenues on annualized basis stood at $10.7 billion, while the cloud bookings growth rate was faster than the cloud revenue growth rate.
Revenues from Fusion ERP, Fusion HCM and NetSuite ERP were up 35%, 25% and 28%, respectively in the fiscal second quarter.
Growing clientele is helping the company to maintain its leading position in the cloud domain. Noteworthy deal wins for OCI during the last reported quarter include Fortum, HUS, Ingersoll Rand, Translink, SoundHound, GoWithFlow and Xerox.
Oracle is expanding its worldwide cloud region footprint to support its cloud services. The company unveiled a cloud region each in France (Marseilles), Singapore and the United Arab Emirates, taking the total number of cloud regions to 34 at present. Oracle is planning to have 44 cloud regions by the end of 2022.
Oracle Needs to Watch Out for Competition
The revenue potential in the cloud space has allured several big and small players, heating up competition in the space. Oracle faces intense competition from the likes of Amazon (AMZN - Free Report) Amazon Web Services (“AWS”), Microsoft’s (MSFT - Free Report) Azure and Alphabet’s (GOOGL - Free Report) Google cloud, which dominate the global cloud market.
Per a Statista report, Amazon accounted for 32% of the global cloud infrastructure services market followed by Microsoft (21%) and Alphabet’s Google Cloud (8%) in the third quarter of 2021.
In the last reported quarter, Amazon’s AWS revenues (15% of total company sales) rose 39% year over year to $16.1 billion. Expanding AWS services portfolio is helping Amazon in maintaining its dominance in the cloud domain by gaining more customers.
Microsoft’s performance is benefitting from strength in its Azure cloud platform amid the accelerated digital transformation taking place globally. Microsoft reported a 50% year over year (up 48% at constant currency) increase in Azure and other cloud services’ revenues in first-quarter fiscal 2022. The upside was driven by robust growth in consumption-based business.
In third-quarter 2021, Alphabet recorded a 44.9% year-over-year jump in Google Cloud revenues to $4.9 billion, which contributed 7.7% to quarterly revenues.
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Oracle (ORCL) Cloud Infrastructure Platform Leveraged by Wipro
Oracle (ORCL - Free Report) recently announced that India-based Wipro Limited is implementing Oracle Cloud Infrastructure (“OCI”) services to boost its Cargo Reservations, Operations, Accounting and Management Information System (“CROAMIS”) Application suite.
Wipro’s CROAMIS solution is a comprehensive platform designed to handle all airline cargo management requirements.
By migrating to OCI, Wipro will be able to provide CROAMIS as part of Wipro FullStride Cloud Services. This will help Wipro to modernize the air cargo operations for clients and help the latter achieve scalability, increased security and slash data storage and outbound data transfer costs, noted Oracle.
Post migration of CROAMIS on Oracle Cloud, Wipro will deliver the application suite as a integrated software-as-a-service (SaaS) offering based on both Oracle Exadata Cloud Service and Oracle Exadata Database Cloud Service, powered by OCI’s strong compute capabilities.
This will render faster automation of processes like cargo capacity planning, sales, revenue management, cargo ground handling operations, customer services, freighter and charters, cargo revenue accounting, and billing for air cargo companies, added Oracle.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Wipro CROAMIS offering is likely to be available in the Oracle Cloud Marketplace by the end of 2021.
Momentum in Cloud Offerings to Drive Top Line
According to MarketsAndMarkets report, the global cloud computing market is expected to witness a CAGR of 16.3% between 2021 and 2026 and reach $947.3 billion.
Oracle’s performance is gaining from the momentum across the cloud business, driven by strong uptake of OCI services and Autonomous Database offerings. Healthy adoption of cloud-based applications, comprising NetSuite Enterprise Resource Planning (ERP), Fusion ERP and Fusion Human Capital Management (HCM) augurs well in the long haul.
The company’s SaaS, infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) products are likely to grow strongly over the next few years as enterprises rapidly migrate to the cloud environment.
For second-quarter fiscal 2022, Oracle’s Cloud services and license support revenues (73% of total revenues) increased 6% year over year (up 6% at constant currency) to $7.554 billion. The upside can be attributed to continued strength in the Fusion, Autonomous Database and OCI services.
In the fiscal second quarter, management noted that the company’s IaaS and SaaS business increased 22% to $2.7 billion. Management added that the company’s total cloud business revenues on annualized basis stood at $10.7 billion, while the cloud bookings growth rate was faster than the cloud revenue growth rate.
Revenues from Fusion ERP, Fusion HCM and NetSuite ERP were up 35%, 25% and 28%, respectively in the fiscal second quarter.
Growing clientele is helping the company to maintain its leading position in the cloud domain. Noteworthy deal wins for OCI during the last reported quarter include Fortum, HUS, Ingersoll Rand, Translink, SoundHound, GoWithFlow and Xerox.
Oracle is expanding its worldwide cloud region footprint to support its cloud services. The company unveiled a cloud region each in France (Marseilles), Singapore and the United Arab Emirates, taking the total number of cloud regions to 34 at present. Oracle is planning to have 44 cloud regions by the end of 2022.
Oracle Needs to Watch Out for Competition
The revenue potential in the cloud space has allured several big and small players, heating up competition in the space. Oracle faces intense competition from the likes of Amazon (AMZN - Free Report) Amazon Web Services (“AWS”), Microsoft’s (MSFT - Free Report) Azure and Alphabet’s (GOOGL - Free Report) Google cloud, which dominate the global cloud market.
Per a Statista report, Amazon accounted for 32% of the global cloud infrastructure services market followed by Microsoft (21%) and Alphabet’s Google Cloud (8%) in the third quarter of 2021.
In the last reported quarter, Amazon’s AWS revenues (15% of total company sales) rose 39% year over year to $16.1 billion. Expanding AWS services portfolio is helping Amazon in maintaining its dominance in the cloud domain by gaining more customers.
Microsoft’s performance is benefitting from strength in its Azure cloud platform amid the accelerated digital transformation taking place globally. Microsoft reported a 50% year over year (up 48% at constant currency) increase in Azure and other cloud services’ revenues in first-quarter fiscal 2022. The upside was driven by robust growth in consumption-based business.
In third-quarter 2021, Alphabet recorded a 44.9% year-over-year jump in Google Cloud revenues to $4.9 billion, which contributed 7.7% to quarterly revenues.
At present, Oracle carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here.