Oracle records robust growth in SaaS business

By VARINDIA - 2022-06-30

Oracle records robust growth in SaaS business

Oracle India has seen strong momentum in its Software-as-a-Service business, especially in India. In India, the company recorded double-digit growth rates over the past year, with ERP, Customer Experience (CX) and Human Capital Management (HCM) growing at 70%, 55% and 15%, respectively.

 

The company is also reporting increased demand from the government and public sector. Its Enterprise Resource Planning business was the growth driver within SaaS, growing at 70% in fiscal year 2022.

 

Deepa Param Singhal, vice president -applications, Oracle India said, “The India Fusion applications business overall has grown 50% YoY in FY22. We are actually outpacing the market itself and acquiring market share from the competition.”

 

While manufacturing led growth for the ERP business, banking, IT and professional services contributed primarily to growth in the HCM business. Currently, a team is working with banks on how they can digitally acquire and communicate better with customers.



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