Oracle (ORCL Quick QuoteORCL - Free Report) announced that its Exadata Database Service, operating on the Exadata platform, has been chosen by IHH Healthcare (“IHH”), a top-tier healthcare provider, to upgrade its operations in Singapore and Malaysia. The goal is to enhance patient services and maintain the highest level of patient privacy.

To adapt to local market needs and regulations, IHH Singapore has moved its main application tasks to Exadata Database Service on Oracle Cloud Infrastructure (“OCI”). Meanwhile, IHH Malaysia shifted its database tasks to ORCL’s Exadata Cloud@Customer. This ensures compliance with data residency and regulations while streamlining operations.

With more than 80 hospitals across 10 countries, including Singapore and Malaysia, IHH requires a powerful database platform to handle vast amounts of data securely and enhance patient outcomes. IHH Singapore transferred its core application tasks to Exadata Database Service on OCI, covering Electronic Medical Records and other critical systems.

By centralizing its diverse on-premises database systems in the cloud, IHH is enhancing user experiences for both patients and clinicians. This move ensures faster and more reliable access to secure and up-to-date information. This aligns with IHH's strategy to leverage innovative technologies like AI to deliver top-notch healthcare services.

Shares of this Zacks Rank #3 (Hold) company have gained 13.7% year to date compared with the Zacks Computer and Technology sector’s growth of 11.1%. This outperformance was due to the company’s expanding clientele. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ORCL’s Expanding Clientele to Aid Top-Line Growth

Oracle has been expanding its clientele for a long time now. It has onboarded some big clients, including Great Eastern, Pro-invest Group and Gas South. These are expected to aid the company’s revenues in the upcoming quarters.

The Zacks Consensus Estimate for ORCL’s fiscal 2024 revenues is pegged at $53.22 billion, indicating year-over-year growth of 6.53%. The Zacks Consensus Estimate for 2024 earnings is pegged at $5.58 per share, indicating year-over-year growth of 8.98%.

The company’s Autonomous Database on Exadata Cloud@Customer has facilitated the migration of more than 200 terabytes of data from 300 on-premises Oracle databases for Great Eastern, the leading life insurance group in Singapore and Malaysia. By consolidating its databases, which include financial product management systems, distributed commission management systems and rewards systems onto a unified cloud platform, Great Eastern has automated its processes and enhanced operational effectiveness.

Oracle OPERA Cloud Property Management System (PMS) has been chosen by Pro-invest Group, a prominent private equity real estate asset manager and investment firm. Pro-invest sought to streamline its operations by transitioning from various PMS systems to a unified platform capable of managing diverse hotel properties, from independent ones to global brands.

Gas South utilizes ORCL’s Utilities Customer Cloud Service to serve nearly half a million customers across 14 states. By leveraging the integration of SaaS solutions and Oracle managed services, the utility has automated critical processes to enhance customer service, decrease expenses and ensure regulatory compliance. Gas South has partnered with Oracle Consulting Services and its specialized technology delivery professionals to implement the solution.

ORCL faces tough competition from giants like Salesforce (CRM Quick QuoteCRM - Free Report) , SAP (SAP Quick QuoteSAP - Free Report) and Microsoft (MSFT Quick QuoteMSFT - Free Report) in the cloud market.

Salesforce assists businesses by automating tasks, identifying potential customers and enhancing communication. It includes features tailored for governments to provide faster and more personalized services to citizens. Apart from its CRM functions, the company has expanded into other fields like marketing automation, online selling and customer support. Through its dedication to innovation and customer satisfaction, CRM keeps expanding and attracting more clients.

SAP offers different types of software for businesses, such as ERP, CRM and supply chain management tools. Its software emphasizes analytics and AI, giving companies useful insights and predictive abilities. SAP also has a strong cloud platform, offering a safe and scalable environment for running applications. Its cloud offerings are tailored to specific business functions.

Microsoft has been a big player in business software for a long time. It offers a bunch of products like Dynamics 365, SharePoint and Power BI, which help all kinds of businesses. Besides software, MSFT's Azure cloud platform gives businesses a flexible and reliable way to run their apps. Microsoft and Oracle have teamed up to make the latter’s Database available on Azure in more places around the world, making it available in a total of 15 regions.

Oracle’s constant innovation and investments are expected to attract more clientele in the long run. The partnership with Microsoft also creates value for customers.