Enterprise Resource Planning systems are the backbone for many firms today. To aggregate business data from diverse department into one single database and let staff make common reports improves business procedures. Intercompany (IC) finance is a common practice for any scale of businesses with multiple operations locally or globally. Many ERP systems running on-premises or cloud capabilities has played a key role improving the IC accounting but in today’s world, IC is not so easy to manage tasks as it used to be a decade before. Many enterprises are running into a serious complication that has real financial impact because of poor IC accountings and practices are in place. There are multiple reasons for the problems such as increasing competition, global consolidation, integrated supply chain, clashing policies, and SEC or country specific legislations and many more. Building right ERP technology play a unique role as a support function in most organization, not only the processes it improves for internal management but also the business it supports. Industrial revolution shift to a manufacturing economy led to improve production efficiency requires huge amount of IT investment that smoothen the entire business operations. The use of cloud computing is expanding and increasingly entering enterprises and corporations. More businesses will start to trust cloud services as they become more refined and well-tested. For sensitive corporate data and information to be stored in cloud services, this is essential. A corporation can pay for the services they require and do away with the need to maintain IT infrastructure with cloud-based enterprise resource planning. This study aims to systematically reviews the Oracle fusion Cloud ERP systems for increasing the efficiency of organization’s performance. When the traditional ERP system is compared with Oracle fusion cloud ERP system for the intercompany transactions, the performance efficiency is increased, and it helps in reducing the cost expenses instead of purchasing the entire infrastructure.