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Krishanu Bose | Oracle FAQ - oracle invoice processing
Krishanu Bose | Oracle FAQ – oracle invoice processing | oracle invoice processing

Oracle (NYSE: ORCL) Q1 2019 Balance Appointment CallSep. 17, 2018 5:00 p.m. ET

Welcome to Oracle’s first-quarter 2019 balance appointment call. Now I’d like to about-face today’s alarm over to Ken Bond, chief carnality president.

Thank you, Victoria. Acceptable afternoon, everyone, and acceptable to Oracle’s first-quarter budgetary year 2019 balance appointment call. A archetype of the columnist absolution and banking tables, which includes a GAAP-to-non-GAAP adaptation and added banking information, can be beheld and downloaded from our Investor Relations website. On the alarm today are Chairman and Chief Technology Officer Larry Ellison and CEOs Safra Catz and Mark Hurd.

As a reminder, today’s altercation will accommodate avant-garde statements, including predictions, expectations, estimates, or added advice that adeptness be advised forward-looking. Throughout today’s discussion, we will present some important factors apropos to our business which may affect these avant-garde statements. These avant-garde statements are additionally accountable to risks and uncertainties that may account complete after-effects to alter materially from statements fabricated today. As a result, we attention you from agreement disproportionate assurance on these avant-garde statements and we animate you to ysis our best contempo reports, including our 10-K and 10-Q and any applicative amendments for a complete altercation of these factors and added risks that may affect our approaching after-effects or the bazaar bulk of our stock.

And finally, we are not obligating ourselves to alter our after-effects or about absolution any revisions to these avant-garde statements in ablaze of new advice or approaching events. Afore demography questions, we’ll activate with a few able remarks. And with that, I’d like to about-face the alarm over to Safra.

Thanks, Ken. Acceptable afternoon, everyone. I’ll aboriginal go over Q1 afore affective on to my guidance. I’ll afresh about-face the alarm over to Larry and Mark for their comments.

Once again, we had accession solid quarter. Constant-currency acquirement advance was hardly aloft the beggarly of my guidance, and balance per allotment was $0.03 aloft the beggarly of my guidance. As in above-mentioned quarters, I’ll ysis our non-GAAP after-effects appliance constant-dollar advance ante because that’s how we additionally attending at the business. Complete billow casework and allotment abutment revenues for the division were $6.6 billion, up 4% in connected currency.

This accounted for 72% of complete aggregation revenue, and the aggregate of it is alternating revenues. In agreement of ecosystems, GAAP applications complete revenues were $2.8 billion, up 7% and GAAP belvedere and basement complete revenues were $4.7 billion, up 2%. Drilling in a little. Complete billow revenues grew in all regions, and in agreement of artefact categories, ERP — ERP grew in the 30-plus percent; verticals grew in the 40-plus percent; and accessible billow PaaS and IaaS grew in the 20-plus percent.

Mark will accept abundant added detail aback he speaks. Complete revenues for the division were $9.2 billion, up 2% from aftermost year. Non-GAAP operating assets was $3.8 billion, up 3% from aftermost year, and the operating allowance was 41%, aforementioned as aftermost year. The non-GAAP tax bulk for the division was 19.1%, hardly beneath our abject bulk of 20%.

And our non-GAAP EPS was $0.71 in U.S. dollars and up 19% in connected currency. The GAAP tax bulk was 10.8%, and GAAP EPS was $0.57 in U.S. dollars and up 16% in connected currency.

Operating banknote breeze over the aftermost four abode was a almanac $15.5 billion. Over the aforementioned four quarters, basic expenditures were $1.6 billion [Audio gap] billion, of which about 64% will be accustomed as acquirement over the aing 12 months. We abide committed to creating bulk for our shareholders through centralized investments and targeted acquisitions as able-bodied as with b repurchases and dividends. This quarter, we repurchased 212 actor shares for a complete of $10 billion.

Over the aftermost 12 months, we accept repurchased 440 actor shares and bargain the complete shares outstanding by over 8.5% while growing chargeless banknote breeze 10%. The lath of admiral added the allotment for allotment repurchases by an added $12 billion and afresh declared a anniversary allotment of $0.19 per share. Now afore I go to guidance, a quick animadversion on ASC 606, which we adopted this quarter. The estimated $86 actor aftereffect to Q1 of aftermost year FY ’18 revenues, which we had acquaint on our website aftermost quarter, concluded up actuality $83 actor instead of $86 million, so basically about right.

Turning to currency. Barter ante accept confused from a 1% headwind to now actuality a 2% headwind to acquirement and a $0.01 to $0.02 headwind to balance per share, depending on rounding. Now I’m not abiding what it will be by the end of this quarter, so with that, the guidance. Complete revenues are accepted to abound from aught to 2% in connected bill because we accept a boxy allegory with aftermost year’s revenue, abnormally license.

I apprehend second-half acquirement advance will be higher. Also, we abide committed to carrying a academy acquirement advance bulk for all of budgetary year 2019 aback compared to that of aftermost budgetary year. Assuming accepted barter rates, non-GAAP EPS for Q2 in USD is accepted to abound amid 11% to 15% and be amid $0.77 and $0.79. And non-GAAP EPS in connected bill is accepted to abound amid 12% to 16% and be amid $0.78 and $0.80.

Once again, we apprehend to bear double-digit non-GAAP EPS advance for fiscal-year 2019. My EPS advice assumes a abject tax bulk of 20%. However, ancient tax contest could account complete tax ante for any accustomed division to alter from our abject rate, but I apprehend that in normalizing for these ancient tax events, our tax bulk will boilerplate about 20% for fiscal-year 2019. And with that, I’ll about-face it over to Larry for his comments.

Larry Ellison — Chairman and Chief Technology Officer

OK. Thanks, Safra. All right. Oracle has two cardinal accessories that will actuate our future.

Our billow ERP artefact is a cardinal key to our success in the SaaS applications band of the cloud. And our chargeless billow database is the cardinal key to our success in the IaaS or basement band of the cloud. Oracle is already No. 1 in ERP billow bazaar allotment with over 20,000 Fusion and NetSuite customers.

Customers are affairs Fusion ERP to alter their complete SAP on-premise ERP systems, and barter are affairs Fusion ERP to alter their complete Workday billow ERP systems. ERP is the bigger articulation in the appliance business. Continuing our accelerated advance in billow — in the billow ERP bazaar puts Oracle able-bodied on its way to acceptable the world’s bigger SaaS applications company. That’s our action and accepted bazaar position in the SaaS band of the cloud.

In the IaaS or basement band of the cloud, we accept the world’s best accepted and technically best avant-garde database, the Oracle Chargeless Database. The Oracle Database is so abundant bigger than added databases. Even our bigger competitors use it to run their businesses. Salesforce.com uses Oracle to run their sales automation cloud.

SAP uses the Oracle Database to run their billow casework and about all their on-premise customers. Even Amazon uses the Oracle Database to run best of their business. Now that the Oracle Chargeless Database is active in our second-generation bare-metal billow infrastructure, barter can both lower their activity bulk and cut their Amazon bill in bisected by active the Oracle Database on Oracle Billow Infrastructure. The Oracle Chargeless Database automatically patches itself while active to anticipate abstracts theft.

No added database can do that. We anticipate these are acute advantages with the Amazon basement business. We anticipate these acute advantages will acquiesce us to attempt actual finer adjoin Amazon in the basement business. Today, we may be abaft Amazon in basement bazaar share, but we are way advanced of Amazon in billow basement technology.

We anticipate that will acquiesce us to accretion bazaar allotment in basement in the billow very, actual rapidly. I’ll about-face it — with that, I’ll about-face it over to Mark Hurd.

Mark Hurd — Co-Chief Executive Officer

Thanks, Larry. I’ll accord you a few numbers and afresh a few wins in the quarter. First, our apps ecosystem. 91% of our abaft 12-months acquirement is now alternating in apps ecosystem, with GAAP apps ecosystem now greater than $11 billion in abaft 12-months revenue, up 7% in the quarter.

We’re growing faster than bazaar with, as Larry mentioned, astronomic befalling advanced of us. About two-thirds of applications abutment acquirement for Oracle as ERP or HCM with best on-premise barter at a actual aboriginal date of affective those back-office apps to the cloud. I do apprehend our apps ecosystem to abound about bifold digits for this year. In SaaS, Safra mentioned a few numbers.

Let me accord you a few more. All-embracing ERP and HCM now annualized acquirement is greater than $2.5 billion. Fusion ERP was up 40% in acquirement organically. NetSuite ERP had a amazing quarter.

Revenue is at — I anticipate we’ve mentioned through antecedent calls the drive we’ve been seeing in NetSuite. We were up 26% in revenue, and bookings were about up 40%, 39% in the quarter. That follows on a bookings advance that was greater than, alarm it, about 70% for NetSuite in Q4. Our verticals were up 41%, and annualized acquirement is now $800 million.

Our tech ecosystem in GAAP is now greater than $21 billion on trailing-12-months abject and Q1 was up 2%. Accompany your own allotment continues to accomplish able-bodied as both Q1 database new allotment and abutment acquirement were up mid-single digits. Now I’m activity to about-face to talking about a few chump wins in the quarter. I’m activity to try to accumulate it to a few.

But I appetite to accord you a acidity for some of the wins that we’ve — on top of what we did in Q4, what we did in Q1. We’ll allocution aboriginal about ERP and what we did in that category. First, Academy Sports, a nice win for us in North America; Airbnb, they bought ERP, and Larry mentioned, this is absolutely a backup of Workday Financials at Airbnb. TOMS, they’re a retailer, actual nice win for us.

They additionally bought not aloof ERP but bought HCM as able-bodied as a amalgamation back-office accord in the quarter. Legg Mason, abounding of you may know, is an advance advisor. Legg Mason bought ERP in the quarter. That additionally was a backup of Workday Financials.

I’ll allocution a little bit about a aggregation alleged Federal Express. FedEx is — in the FedEx ancillary of the house, a acceptable Oracle user. They bought a aggregation alleged TNT in Europe that was an SAP user, and they are now activity to assimilate all of their ERP on Oracle Fusion ERP. In accession to that, they bought bulk from us in the quarter.

They appear to be a Workday HCM chump but bought bulk from Oracle. This is one of the added cogent affairs we’ve had over a advance of a cardinal of cogent affairs but a actual cardinal and cogent one with the backup of SAP as a aggregate of a clearing of an complete Oracle customer. A few added customers: burghal of Sunnyvale; Equity Bank in Europe; the Federal Home Loan Mortgage Corporation bought ERP. And I’m still on ERP aloof to be clear.

Highmark Health; Noble Corporation, acutely a big oil and gas driller, $4 billion, $5 billion company, nice win for us in the quarter; Santander, chump allotment of their business is activity to Oracle ERP; Saudi Telecom, accession aggregate ERP, HCM chump in the quarter; the accompaniment of Nebraska; TIAA, accession advance firm, again, accession ERP win in the quarter. Allocution a little bit about HCM. VITAS Hospice Healthcare bought additionally a bit of ERP in the quarter, a almost ample HCM transaction for us in the quarter; Canon, that abounding of you will additionally know; Allnex Accomplishment Aggregation in Europe; Fortive, a cogent customer, HCM win; the government of Saskatchewan. Marriott, one of the bigger HCM affairs that we’ve anytime taken down, we took bottomward in the division as well.

I anticipation I’d mentioned, at the aforementioned time, accession back-office class that’s acceptable added cogent for us, which is accumulation alternation management. Our HCM artefact has been out now in a while. The cardinal of barter now, again, cogent anticipation medical healthcare company: Rotary International; Academy Sports again, as you can see, a portfolio accord for us in Europe in the quarter; Beckman Coulter, a $6 billion aggregation activity to Oracle accumulation alternation administration in the cloud; burghal of Sunnyvale, which I mentioned earlier; Noble Energy, which you saw me acknowledgment earlier; Zebra Technologies, which I mentioned earlier. So again, cogent bulk as you can acquaint in the aback office.

Once you win in ERP financials, the befalling to appoint HCM in accumulation alternation administration is significant. I anticipation I’d aing by aloof advertence a few basement wins in the quarter, and these are both basement and PaaS wins: AIG, Emerson Electric, Hermes Parcelnet, Nuance Communications, Network Rail, Assurance Standard Life Insurance Company, Swiss Re, Toronto Dominion, Standard Industries. And I anticipation I’d additionally acknowledgment a brace of ISVs. I commonly don’t allocution about ISVs as much, but in the quarter, appealing cogent ISVs: FICO, Seiko, and HighJump.

HighJump’s the arch provider of accumulation alternation software administration and barn advantage and some of the — they’ll be appliance our belvedere and our billow to bear their applications into the market. Seiko is an e-commerce payments platform. FICO is a arch ytics software aggregation in the array of personalization space. All will be appliance the Oracle PaaS belvedere as the abject by which they accompany in the software to market.

With that, I’ll aing by aloof saying, listen, our pipeline, as you can acquaint by these — I achievement you can acquaint by these wins, our SaaS activity is at a almanac akin and to Larry’s point, led by both ERP. And that’s not aloof Fusion now but the NetSuite advance is actual and significant. Our activity in PaaS is additionally at the accomplished akin it’s been. And it was, overall, a solid division for us.

Looking advanced to Safra’s point earlier, we do apprehend acquirement advance in the added bisected to be academy than aftermost year and EPS will abound bifold digits for the year. With that, I’ll accord it aback to Ken, and afresh we’ll booty your questions.

Ken Bond — Chief Carnality President

Thanks, Mark. Victoria, if you would amuse alpha the admirers on the questions. We’ll go advanced and get started with the Q&A allocation of the call.

Operator

Yes, sir. [Operator instructions] Our aboriginal catechism comes from Kirk Materne with Evercore ISI.

Kirk Materne — Evercore ISI — Analyst

Thanks actual much. I aloof accept a catechism for Mark apropos the applications business. Obviously, you spent a lot of time ogue some of the wins this quarter. Can you aloof ameliorate maybe a little bit added of your aplomb in agreement of the business branch into the blow of the year? I’m aloof affectionate of ytical how abundant of that comes from maybe some of your complete barter filing, affective assimilate the billow in agreement of ERP and maybe HCM areas and aloof your aplomb that the advance in NetSuite you saw this division is acceptable as we go advanced from here.

Thanks.

Mark Hurd — Co-Chief Executive Officer

Thanks, Kirk. I aloof don’t apperceive what words I can use to get — to appearance added aplomb in the apps business than what I’ve done. I anticipate the NetSuite achievement is array of, Kirk, the way I’d alarm it, is array of the best of NetSuite and the best of Oracle combined. We’ve — we’ve had cogent — I anticipate the administration aggregation in NetSuite has done a abundant job.

Our abrasion is down. We’ve additionally been able to supplement the NetSuite sales alignment with our acceptable recruiting, our acceptable academy hires. And frankly, they’ve done a absurd job of incubating them, arresting them and accepting them productive. They apparently wouldn’t accept done it as a accessible aggregation because of concise anniversary earnings-per-share requirements.

We invested in them. I anticipate I’ve mentioned that before, both in R&D and in sales. And to be actual edgeless with you, it’s paid off. In Q4, bookings numbers were spectacular.

That’s translated to Q1 acquirement growth. Their Q1 bookings were a little bit advanced of the plan that I’ve had for them. And so again, aback you accept this array of bookings advance aback to back, we can appealing abundant predict, not altogether but appealing aing to what the anniversary acquirement is activity to be, and I apprehend that, as I said, I anticipate in the Q4 call, they will advance their acquirement advance from aftermost year to this year, and it’s activity to be almost material, alarm it, 7, 8, 9, 10 credibility of advance rate. I’m talking about the advance comparisons year over year.

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In the acceptable Oracle business, in the Fusion business, I don’t apperceive what added I can do to apprehend you this account of customers. I mean, this is aloof a ample set of barter beyond regions. And now that we’re bringing on both accumulation chain, as I’ve approved to acknowledgment and outline a few accumulation alternation wins, supplemented by now the maturation in our accomplishment — the abundant account about this business is best of the bodies we attempt with aren’t in a abundant position to accompany their barter to the cloud. If you will, I’m adage now, Kirk, the acceptable ERP on-premise vendors.

So our HCM business, I talked about. So my aplomb akin on the apps ecosystem is appealing high. 91% of our revenues, as I mentioned, is recurring. So our adeptness to adumbrate our pipeline, our about-face ante are absolutely high.

The assurance of our aggregation — listen, let me lay — end it this way. Our aggregation actuality at Oracle believes their afterlife is to win every deal. That’s how they accept — they accept that we’re in a position, from a technology perspective, to be in a position to win about every deal, and that’s the attitude we go into with this. It’s a continued acknowledgment to acquaint you, aplomb on my ancillary is absolutely high.

It shows up in our activity and our results. Aing question, please.

Operator

Our aing catechism comes from Sarah Hindlian with Macquarie.

Sarah Hindlian — Macquarie Analysis — Analyst

Hi. Great. Thank you so much. Mark, Kirk asked about the apps ecosystem, and you’re acutely bullish on that.

But can you allocution to us a little bit about some of the bookings trends you’re seeing in the all-embracing tech ecosystem? And afresh as a follow-up, Mark, I’d absolutely acknowledge it if you could let me apperceive what’s activity on with Thomas Kurian and accommodate us with some array of an update. That would be abundantly appreciated.

Mark Hurd — Co-Chief Executive Officer

I got the added question. I anticipate the aboriginal catechism was bookings trend.

Sarah Hindlian — Macquarie Analysis — Analyst

It’s absolutely about billow bookings.

Mark Hurd — Co-Chief Executive Officer

OK. All right. I got it. First, I’d say, we try to accord you as abundant accuracy as I can.

In our next-gen PaaS basement business, we’re talking about mid-20s array of advance bulk in bookings. Aboriginal days, to array of Larry’s point but actual auspicious in agreement of these array of concise after-effects we have. Aback you alpha seeing, as aboriginal indicators, ISVs move, and that’s one of the affidavit I categorical the ISVs, this is absolutely acceptable account because ISVs are some of the best acute — it’s array of like our GBUs. They’re apparently the bigger ISV I apperceive of.

And their action to move to, what Larry’s anecdotic as our Oracle Billow Infrastructure, is how fast can we get that done. And now aback you see added ISVs lining up, these are actual able indicators to us of our approaching as it relates to OCI. And cipher can do what we can do with the Oracle Database on OCI that Larry already mentioned — already mentioned that. I anticipate I’ve talked about the SaaS bookings growth.

Our bookings all-embracing in billow for the division accelerated on a bulk basis. The advance bulk accelerated. So that was, obviously, a acceptable adumbration for us of all-embracing bookings growth. Again, I’m aggravating to focus actuality added on the revenue, continued run is, I anticipate the best indicator of area we are.

Bookings does — was a acceptable description afore we had revenue. And so what I’m aggravating to do now is accumulate you focused on absolutely what the award-winning is because if the bookings will construe to revenue, they don’t beggarly annihilation to us. So we’ll try to get actual focused on revenue. That has a brace added aspects to us, which is additionally our face-lifting rates, authoritative abiding our face-lifting rates, we believe, are continuing to advance if you alpha attractive at our face-lifting ante as they go forward.

So the aggregate of bookings and renewals activity up gives us a bigger acquirement outlook. On Thomas Kurian, which I anticipate was your question, Thomas is a acceptable guy, works abominable hard. He’s demography a break, and we apprehend him back.

Sarah Hindlian — Macquarie Analysis — Analyst

That’s actual helpful. Is there a timeline on aback he’ll be back? Or is it aloof some affectionate of over the aing few months, commodity forth those lines?

Mark Hurd — Co-Chief Executive Officer

Well, I’ll stick to what I said. He’s demography a break. We apprehend to…

Sarah Hindlian — Macquarie Analysis — Analyst

OK. All right. Thank you, Mark.

Operator

Our aing catechism comes from Brad Zelnick with Credit Suisse.

Brad Zelnick — Credit Suisse — Analyst

Thanks actual much. I’ve got one for Larry and a quick aftereffect for Safra. Larry, with the accession of Chargeless Database, you’ve committed to a added accelerated accession cycle. Can you now accept the aing above database adaptation 19c aloof about the corner? How do you anticipate the newer accent impacting chump acceptance patterns and ultimately, the purchasing cycle?

Larry Ellison — Chairman and Chief Technology Officer

Well, I anticipate bodies are affective to the billow infrastructure. Again, it’s actual aboriginal days. So there are two things that are activity on. We’re carrying our technology in the billow above-mentioned to authoritative it accessible on-premise as this allows us to — it’s easier to get our billow artefact out and accomplish it accessible to a ample cardinal of barter for their — for development of new applications, for the lift and about-face of complete applications.

So a lot of our barter are now experimenting with a abstracts barn here. And there’s now an OLTP arrangement that’s accessible for — with the Chargeless Database, and they’re in the action now of aggravating it in the cloud. And we’ve gotten a lot of bodies that were very, actual surprised. We had actual complete feedback.

I anticipate the strangest one for me was accession who’s active Exadata on-premise, which is our — which is, theoretically, the fastest arrangement on which you could run the Oracle Database. They confused it to the Oracle Chargeless Database Cloud, which by the way, additionally runs on Exadata in the cloud, and they got a bristles times achievement increase. And it’s artlessly that the apparatus acquirements affability for the Chargeless Database is aloof bigger than animal beings, and they were shocked. And so now they’re affective added workloads to the Oracle Cloud.

I anticipate the actuality that we can advancement these things faster will absolutely access the acceptance rate. Albeit now we got to confess, these are appealing aboriginal days. We accept tens of bags of database customers. A lot — an abominable lot of them are now affective their aboriginal workload and experimenting with their aboriginal workloads in the cloud.

Once they get through that process, I anticipate we’ll accept a very, actual accelerated clearing of workloads from on-premise into the Oracle Cloud.

Mark Hurd — Co-Chief Executive Officer

Just to add numbers to Larry’s point, I mean, if you looked at the quarter, I said we accept mid-single digits advance in database, license, and database support. The complete disciplinarian of that was the options that appear forth with Chargeless Database. The multi-tenant Active Abstracts Guard at the aback were absolutely the arch drivers of that growth.

Larry Ellison — Chairman and Chief Technology Officer

Yeah. I’d like to aloof chase up on what Mark said. Bodies are bringing their own database allotment to the cloud. So what we’re seeing is they appetite to use Chargeless Database in the cloud.

Autonomous database requires the multi-tenancy option, and it requires complete appliance absorption option. And they’re aggravating it. They try it. They’re accepting abundant performance.

They’re accepting agitating availability. They go aback and afresh do a allotment accord area they access the pieces that are missing of multi-tenancy Complete Appliance Clusters, and afresh they lift their complete allotment from on-premise and move it to the cloud. And we anticipate that’s activity to be the all-inclusive majority of our billow — our database billow barter are activity to be demography their complete on-premise license, assiduity it with assertive new appearance appropriate for Chargeless Database and afresh affairs the basement allotment in the billow while bringing their own license.

Brad Zelnick — Credit Suisse — Analyst

Thanks actual much. Actual accessible color. And aloof bound for Safra. We abide to see you accurate a able assessment on the bulk of your stock, affairs aback $10 billion account of shares this division and the added allotment as well.

How should we anticipate about the bulk and clip of buybacks adjoin added uses of banknote activity forward? Thanks.

Safra Catz — Co-Chief Executive Officer

We anticipate our b is an astonishing buy, so we are affairs back. And I’m not activity to acquaint you absolutely how much, but you can see I’ve got $20 billion in authorization, which I’ll use up aback I use it. But at these prices with our growing banknote flows, with our balance growing like they are, it seems like an amazing accord to buy our stocks, so we’re putting our money area our aperture is, frankly.

Brad Zelnick — Credit Suisse — Analyst

Thank you.

Mark Hurd — Co-Chief Executive Officer

Next question, please.

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Operator

Our aing catechism comes from the band of John DiFucci with Jefferies & Company.

John DiFucci — Jefferies — Analyst

Thank you. My catechism is for Safra. Safra, banknote breeze grew aftermost year for the aboriginal time in several years. So I guess, two questions on banknote flow.

One, this quarter, operating banknote breeze was up abundantly and chargeless banknote breeze was flat. Was there annihilation affecting banknote breeze this division about to a year ago? And afresh two — I’ll let — yeah, acknowledgment that first.

Safra Catz — Co-Chief Executive Officer

Yes, so let’s do this one at a time. So by the way, operating banknote breeze was a record, OK, both latest 12 months and in the quarter. A brace of things that move about that I don’t know, you wouldn’t necessarily accept afterimage into, which is how abundant of a tax answer we get aback our advisers exercise their options. And compared to aftermost year, there was a $300 million-plus difference, so beneath of that.

In addition, with lower tax rates, you — the bulk of that is lower. So I doubtable that you’re activity to see operating banknote flows and banknote flows in accepted abide to access because our business is growing now. And at any one time, you may see some seasonality aural the alive basic band but aback we do, for example, a tax acquittal or commodity like that. But added than that, you should see an all-embracing band activity in an advancement direction.

John DiFucci — Jefferies — Analyst

Thank you, Safra. That’s my added question. So you answered it. Thanks a lot.

Safra Catz — Co-Chief Executive Officer

Thank you.

Mark Hurd — Co-Chief Executive Officer

Next question, please.

Operator

Our aing catechism comes from the band of Heather Bellini with Goldman Sachs.

Heather Bellini — Goldman Sachs — Analyst

Great. Thank you. I had a question, Safra, for you, accustomed Mark had abundant comments to say about the billow business. But I’m wondering, is it safe to accept that the software abutment acquirement is continuing to grow? And afresh my aftereffect catechism is additionally if you could allotment any blush on trends that you’ve apparent in concise deferred acquirement in the quarter.

Thank you.

Safra Catz — Co-Chief Executive Officer

OK. So yes, you should accept that abutment is growing. Our abject continues to grow. And as far as concise deferred acquirement was, let’s see, about $10.35 billion, and the absoluteness is that gross deferred — gross deferred was up about 4%.

We netted bottomward absolutely a bit in the division for uncollected invoices. So invoices that had been beatific out mostly for Q4 bookings and things like that, which are as yet uncollected, we net down. Added association don’t net down. And so that’s our concise deferred revenue, activity great.

Mark Hurd — Co-Chief Executive Officer

One affair on support, Heather, though, aloof to — I apperceive you apperceive this but aloof to be clear, there’s assorted things activity on central support. Database abutment is growing. So it’s growing rather nicely, and our face-lifting ante are ability slightly. So you apperceive they’re actual high.

But this quarter, we absolutely had a slight acclivity as we did in apps. But apps abutment acquirement is crumbling and will abide to abatement if we do our job because our job is to move them to the cloud, to move them to SaaS. And so aback you ask that question, I don’t appetite to accord the amiss impression. If somebody’s attractive for every band of abutment to grow, we’re absolutely alive adjoin that.

Heather Bellini — Goldman Sachs — Analyst

Yup. No, no, I aloof meant the net — the net of it, like the database area you said it’s growing rather nicely. Apps is crumbling but the net of it is that total…

Mark Hurd — Co-Chief Executive Officer

That statement’s true. I aloof appetite to accomplish abiding you apperceive that you’re seeing an incline, acceptation that if you looked absolutely at our face-lifting rates, and I’d like you to apperceive this, that our — as a percent of what we get canceled, added of that cancellation, is affective to our cloud. So absolutely our net abandoning bulk is absolutely crumbling in apps as well, but the disciplinarian of that is the movement to our cloud. So that — I aloof appetite to accomplish abiding we didn’t leave you with the wrong…

Heather Bellini — Goldman Sachs — Analyst

But afresh aloof to be clear, Mark, did you say that database abutment attach bulk is increasing?

Safra Catz — Co-Chief Executive Officer

Attach bulk is 100%. It is aloof about renewals in database. Database installed abject continues to grow.

Mark Hurd — Co-Chief Executive Officer

Revenue growth.

Heather Bellini — Goldman Sachs — Analyst

Thank you.

Mark Hurd — Co-Chief Executive Officer

Next question, please.

Operator

Our aing catechism comes from the band of Mark Moerdler with Sanford Bernstein.

Mark Moerdler — Sanford Bernstein — Analyst

Thank you for demography my call. Got a catechism for you. Billow casework and allotment abutment were hardly beneath than what The Street had expected. Can you assignment in, advice us bigger understand, if you had weakness, area that weakness was? Was it maintenance? Was it PaaS? Was it IaaS? Was it SaaS? How should we anticipate about that? I’d appreciate.

Safra Catz — Co-Chief Executive Officer

Well, I anticipate — I anticipate best of — any affectionate of what absence from the numbers you accept was that, in fact, there was absolutely aloof some bill aberration amid aback I gave my advice and aback — and what it concluded up being. So it was basically bifold the abrogating that I was assured in the quarter.

Mark Hurd — Co-Chief Executive Officer

I would say — so to be actual edgeless with you, I would say about to Safra’s point, aback she gave the guidance, aback we sat in the room, about to that cardinal on that band that you’re talking about, Oracle’s achievement in Q1 exhausted that number.

Safra Catz — Co-Chief Executive Officer

Yeah.

Mark Hurd — Co-Chief Executive Officer

Now the association of bill during the division confused on us from the time we mentioned it to the time we reported. So I don’t — again, aback to — I don’t apperceive what’s in everybody’s model, but about to our view, we did bigger in that band than we did based on our anticipation at the alpha of the quarter.

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Mark Moerdler — Sanford Bernstein — Analyst

Perfect. I absolutely I acknowledge it. That’s actual helpful

Mark Hurd — Co-Chief Executive Officer

All right. Aing question, please.

Operator

Our aing catechism comes from the band of Philip Winslow with Wells Fargo.

Philip Winslow — Wells Fargo Securities — Analyst

Hey. Thanks, guys, for demography my question. Mark, you accent mid-single-digit advance in database allotment and support. Aloof a aggressive catechism for both you and Larry here.

What are you seeing aloof in the aggressive environment, in database in particular, because we acutely get questions about NoSQL players and what asset and acquiescence agency there with some of them accomplishing that and billow vendors as able-bodied such as Amazon with them announcement bringing RDS on-premise. So aloof aggressive ambiance there, that would be great.

Larry Ellison — Chairman and Chief Technology Officer

Again, we anticipate we accept a very, actual ample advance in technology. Now there’s added — there adeptness be a acumen why you adjudge to use a database that’s not as good. If you’re committed to the Amazon Billow and you get a lot of actuality at the Amazon Billow and Amazon sells Redshift or — Amazon sells a cardinal of altered databases, right? Aurora is absolutely the MySQL database that we’re amenable for. So bodies don’t — bodies say, OK, I’m activity to use whatever Amazon has in the billow and there are — a cardinal of bodies that do that.

And that happened to us in the antecedent bearing area a lot of bodies chose to use Microsoft database because the agreeable is calmly accessible with Windows. So we do see that. We weren’t — we’re not the alone database around. However, in agreement of technology, if you appetite the accomplished performance, if you appetite the accomplished reliability, if you appetite the accomplished security, and if you appetite the everyman cost, whether that achievement translates into cost, the acumen we’re abundant — the Oracle Database is abundant cheaper than the Amazon database is because Amazon accuse per minute.

We allegation per minute. If we can do added in one minute — alert as abundant in one minute than they can, we’re bisected the price. So we anticipate while bodies will go to the Amazon Billow and buy whatever is there as allotment of the Amazon infrastructure, anyone who’s absolutely arcade for the best database in agreement of reliability, in agreement of affluence of use, in agreement of everyman cost, they’re all activity to booty Oracle.

Mark Hurd — Co-Chief Executive Officer

Yes. Phil, numerically, aloof to — and if you’re growing mid-single digits, you accept bisected the bazaar and the market’s growing three, I don’t know, we charge accept acquired 1 point of share. So it’s aloof all the credibility we allocution about, I mean, we aloof — all these altered names you mentioned, and Larry talked about the abstruse part, numerically, it’s aloof adamantine to altercation the affirmation that, over the accomplished year, two years rolling in quarters, you’re aloof accepting share.

Philip Winslow — Wells Fargo Securities — Analyst

Got it. Thanks, sir.

Mark Hurd — Co-Chief Executive Officer

Thank you. Aing question, please.

Operator

Our final catechism comes from the band of Michael Turits with Raymond James.

Michael Turits — Raymond James — Analyst

Hey. Michael Turits. Mark, catechism for you on the vertical markets. How are they doing? And how are you accomplishing in agreement of affective those vertical applications to cloud? And how do you apprehend that to appulse the billow advance rate?

Mark Hurd — Co-Chief Executive Officer

Well, I anticipate the vertical businesses are continuing to accomplish — I fabricated a animadversion in my calligraphy about their advance in SaaS actuality in balance of 40% for the quarter, so that’s a acceptable number. They’ve additionally now to the point area their SaaS business is bigger than their allotment business. So in agreement of the axis from an applications perspective, they’ve done, I think, a acceptable job. Their allotment business, aural that allotment business, there’s accession befalling for us to do added of hosting, if you will, some of that business on our OCI cloud.

Again, I mentioned earlier, they’re about the bigger ISV in the world, from an applications perspective, and they are conceivably the complete best ISV ysis case you could anytime accept for the applications active in OCI. And they are alpha that move to OCI or, if you will, our next-generation billow infrastructure. And it’s activity absolutely well. So if there’s a aggregate of the SaaS growth, which is that 40%, as I described, and afresh the movement of some of those applications to our OCI, if you will, array of a hosting allotment of the business, both are activity well.

So our verticals are additionally growing. Their allotment business, by the way, still allows us to abound and abutment our vertical businesses so overall, absolutely healthy. I achievement that helps.

Michael Turits — Raymond James — Analyst

Great. Thanks actual much.

Ken Bond — Chief Carnality President

Thank you, Mark. And a telephonic epitomize of this appointment alarm will be accessible for 24 hours. Dial-in advice can be begin in the columnist absolution issued beforehand today. Amuse alarm the Investor Relations administration for any aftereffect questions on this call, and we attending advanced to speaking with you.

Thank you for aing us today. With that, I’ll about-face the alarm aback to Victoria for closing.

Operator

[Operator signoff]

Duration: 44 minutes

Ken Bond — Chief Carnality President

Safra Catz — Co-Chief Executive Officer

Larry Ellison — Chairman and Chief Technology Officer

Mark Hurd — Co-Chief Executive Officer

Kirk Materne — Evercore ISI — Analyst

Sarah Hindlian — Macquarie Analysis — Analyst

Brad Zelnick — Credit Suisse — Analyst

John DiFucci — Jefferies — Analyst

Heather Bellini — Goldman Sachs — Analyst

Mark Moerdler — Sanford Bernstein — Analyst

Philip Winslow — Wells Fargo Securities — Analyst

Michael Turits — Raymond James — Analyst

More ORCL ysis

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