The update allows customers to improve their regulatory compliance, build self-service applications and lower their operating costs, said Oracle.
Elements such as cash flow reporting, general ledger and accounts payable have also been improved through the service pack.
By building self-service applications users will be able to offer their customers round-the-clock access to online buying and ordering information. Self-service also allows users to introduce features covering human resources functions for their employees.
Oracle also last week launched a marketing campaign to entice SAP business software users over to its own products. It is offering companies up to 100% licence credits for their existing SAP applications.