A Chief Accounting Officer of a finance organization shares with Gartner the delightful experience he has in working with Oracle in implementing Oracle ERP Cloud according to the enterprise’s configurations. “The processes are smooth and are designed keeping in mind the world class processes. Not to forget are the benefits of automation capabilities that Oracle ERP Cloud has brought in his organization”, the accounting officer mentions. Reviews from other organizations that implemented ERP Cloud are positive as well. While some mention about the performance improvements, others talk about the reduced dependency on IT & Support. Let’s dive into more details and understand what ERP Cloud applications can bring in.
Cost Savings in Operations & IT
Organizations that implemented On-premise ERP incur heavy expenditure for one time software license purchase and have to employ technical resources to maintain the software. In addition, current ERP systems are too expensive to upgrade to latest versions. However, Fusion Cloud cuts down the expenditure as it is a SaaS product and lowers dependency on IT.
“Great Affordable Cloud ERP (For Small/Midsize Companies)” – Sr. Administrator
Oracle takes pride in the suite of ERP Cloud applications as it introduces the best features of all its on-premise solutions and advanced AI capabilities to increase user’s productivity. Current ERP systems are old and no longer meet the enterprise’s needs.Oracle offers architectural design to support available and upcoming next generation technologies in ERP Cloud, including adaptive intelligence (AI), artificial intelligence (AI), augmented reality (AR), blockchain, chatbots, internet of things (IoT), machine learning (ML) and robotic process automation (RPA).
“Year-End Close Has Completed Ahead Of Schedule Which Is Proof That Fusion Works” – Head of Global Platform – Finance
Faster to Implement
Cloud ERP products, compared to On-premise solutions, are faster to implement and easier to switch. Oracle has worked on data migration tools such as Oracle Soar to automate most of the migration process and allow enterprises to move to Cloud in around 20 weeks.
Higher Return on Investment (ROI): Independent research shows the ROI of a cloud solution, when compared against a traditional on-premises system, is over 3.2x when considering multiple scenarios based on data from hundreds of customers.
Increased Security and Data Isolation: Oracle ERP Cloud uses a multilayer approach to security. With cloud solutions, patching is integrated on the cloud side, distributed across systems and quickly implemented to minimize risk. Customer access to the Cloud is encrypted, with an option to use a secure VPN connection. With complete data isolation, no customer has their data co-mingled with other cloud customers in the same database, minimizing risk and providing update flexibility with embassy-grade security.
Common and Modern User Experience (UX): With Oracle ERP Cloud, applications are similar in appearance and use, making end-user learning more efficient. With modern user design paradigms, new users rapidly acclimate to Oracle ERP Cloud applications regardless of their role and responsibilities.
Support Next-Generation Employees: An underlying principle of Oracle ERP Cloud is to address the experiences, education and expectations of next generation employees. As organizations compete for talent, especially for hard-to-fill positions in finance and other core business operations, the use of consumer-like applications that work with mobile devices and enable a work-anywhere, anytime lifestyle will often drive talent acquisition, employee productivity and career satisfaction. This is especially important as the millennial generation transitions to post-millennial generation Z.
In a nutshell, ERP Cloud offers magnificent opportunities for enterprises to transform their business processes and be a part of cloud-first strategy. Current customers are contented with the ERP Cloud capabilities and are optimistic about tighter integrations of the product with other application sets. In this context, one thing that CIO’s shall keep in mind at the time of transformation towards ERP Cloud is that customizations in Oracle ERP cloud, like that in any other cloud software, are limited and companies shall standardize their business processes to meet the software requirements. Though Oracle ERP Cloud comes with latest functionalities, it is not a like-for-like replacements for Oracle’s on-premises suites, so CIO’s shall assess enterprise readiness to embark on a journey by discussing the pros and cons of adopting cloud ERP with the business.
If you are an Enterprise Architect using Oracle EBS or other Oracle ERP products and are in a conundrum to switch to ERP Cloud, Here are some articles that are useful.