Oracle has kicked off the first full day of its Oracle OpenWorld and JavaOne exhibition with a series of announcements including news of new Oracle Fusion middleware applications. The company has described this product family of modular applications as 100 percent open and standards-based.

The new business apps in this suite are built on a service-oriented architecture to enable users to manage functions across a heterogeneous environment -- and the apps themselves are said to coexist with existing Oracle applications.

Offered as 100 modules over 7 different product families, Oracle Fusion Applications have been aligned to the following verticals: Financial Management, Procurement and Sourcing, Project and Portfolio Management, Human Capital Management, Customer Relationship Management, Supply Chain Management, as well as Governance Risk and Compliance.

"To set a new standard, we listened and gathered the best practices from thousands of customers to deliver the first 100 percent open and standards-based business applications. Beginning today, Oracle Fusion Applications define how organizations innovate, work and adopt technology," said Steve Miranda, SVP of Oracle application development.

Featuring embedded business intelligence, Oracle Fusion applications aim to deliver the right information to make decisions within the context of the work being performed, without having to go to a separate BI system. The company says that they offer a new role-based user experience, uniting exception-based processing, business intelligence, transactions and collaboration in context of the work being performed.