Oracle (NASDAQ:ORCL) has forged a partnership with US public safety organizations to revamp their technology systems and infrastructure, ultimately enhancing community protection and services. Multiple departments in states such as California, Colorado, Minnesota, and Texas have chosen Oracle’s integrated public safety hardware and software suite. This strategic move aims to bolster efficiency, real-time situational awareness, safety enhancements, and more effective issue resolution.

Oracle’s Public Safety Services platform specifically caters to law enforcement and first responders, designed to eliminate data segregation, reduce manual administrative tasks, and provide first responders with up-to-the-minute data for informed decision-making. This comprehensive suite encompasses a dispatch command center, law enforcement records, jail management software, as well as body-worn devices and real-time video communication tools.

This suite is a result of collaborative efforts between first responders and leading experts in law enforcement technology, harnessing the robust performance and scalability of the Oracle Cloud Infrastructure. Furthermore, it complies with CJIS1 standards and simplifies the setup process for agencies of all sizes, contributing to cost reduction and operational efficiency while reinforcing security measures.

Growing Importance of Public Sector Cloud Adoption in Government IT Modernization

The federal government is recognized for its wide array of services aimed at rapidly catering to the needs of a vast and ever-changing population. The COVID-19 pandemic expedited the digital transformation efforts of numerous federal agencies to enhance public services, accommodate remote workforces, and bolster data security while maintaining trust and transparency.

Governments worldwide are realizing the potential of cloud technology adoption to modernize their IT systems and enhance public services. This realization has sparked concerted efforts and investments to accelerate cloud adoption, addressing the associated challenges to realize the full potential of cloud-based solutions in the public sector.

While Oracle’s share price has gained 32.4% year-to-date, the competition from prominent cloud providers such as Salesforce, Amazon, and Microsoft remains robust. Salesforce’s government CRM solutions are transforming the public sector’s capabilities by improving connections among citizens, employees, government entities, services, and vital information.

Amazon Web Services offers a range of cloud capabilities accessible across various classification levels, supporting the needs of over 7,500 government agencies. Microsoft, on the other hand, tailors specialized government plans to meet the unique requirements of government organizations.

In a recent move, Oracle introduced NetSuite for Government, designed to meet the needs of small-to-midsize state and local government agencies. This all-encompassing offering streamlines various functions, simplifying operations and is expected to boost cloud service and license revenues in the upcoming quarters.

The Consensus Estimate for Oracle’s fiscal 2024 cloud services and license revenues indicates year-over-year growth of 26.55%, pegged at $44.8 billion. Moreover, the earnings estimate suggests year-over-year growth of 8.2%, with a projected profit of $5.54 per share.

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