In the current economic climate, the costs associated with cloud migrations and other core modernization strategies can be prohibitive, especially when custom-coded legacy systems are involved. But the cost of failing to act could be even higher. Today, it’s more strategically important than ever for a company’s core systems to support agility, innovation, and new ways of working.
Faced with pandemic-related uncertainty and constricted budgets, many IT leaders and C-suites are looking for new ways to fund modernization initiatives. They want more from these investments than mere improvements to enterprise IT plumbing. They want to create a lasting foundation for innovation and competitive advantage.
The need to modernize the core is pervasive among Oracle customers. Major components of “core revival,” as described in the Oracle Perspective: Deloitte Tech Trends 2021 report, include the following goals among trend participants:
Reengineer their business cases for reviving the core with new financial offerings and approaches with the help of third-party management services. These services can feature non-traditional funding arrangements and operate-to-transform approaches that combine modernization and innovation investments.
Pay down technical debt by refactoring critical code, removing unneeded functionality, and replatforming non-ERP capabilities.
Explore options for re-creating legacy IT assets with a new generation of powerful low-code platforms.
ELEVATE is a strategic collaboration between Deloitte and Oracle that reduces technical debt and dramatically cuts costs through end-to-end cloud migration and managed services. Through a joint sales and delivery approach, ELEVATE supports the core revival trend, simplifies IT modernization, and accelerates digital transformation. ELEVATE empowers companies to transform their enterprises quickly, cost-effectively, and successfully, while driving business innovation on Oracle Autonomous Database and Oracle Cloud Infrastructure (OCI). ELEVATE is fueled by Oracle’s Soar methodology, which provides automated cloud migration and Deloitte’s professional services organization supported by its ATADATA cloud discovery and automation platform.
ELEVATE builds upon the combined industry, technology, and cloud experiences from each organization to provide customers with increased value and capabilities. It enables companies to reduce technology debt and provide scalability by transitioning workloads to OCI, which Deloitte operates and manages. Oracle Financing provides non-traditional funding arrangements with upfront costs smoothed out over several years, removing one of the most frequently cited barriers to core modernization.
At the same time, companies can modernize their applications by consolidating finance, supply chain, or other functions with embedded automation to decrease costs and enhance productivity. ELEVATE makes it easier to achieve a commonly wanted end state: A foundation for digital transformation that allows an organization to continuously innovate by taking advantage of a high-performing cloud platform, migration automation, and emerging technologies.
As emphasized in Oracle Perspective: Deloitte Tech Trends 2021, the work of enhancing legacy core assets is not a one-time task—it’s on ongoing opportunity. For some, this process involves shifting technology to increasingly powerful platforms, including low-code options. For others, it means advancing their platform-first strategies by addressing technical debt in ERP systems and migrating nonessential capabilities to other platforms. For many, regardless of where they are in their digital transformation journeys, it entails making the most of collaborative offerings like ELEVATE to reengineer their traditional business cases for modernization and digital transformation.
To learn about the value of the ELEVATE program, watch the interview from theCUBE with Jeff Davis, Chief Commercial Officer for Oracle at Deloitte.
Looking for a strategic partner for core modernization or digital transformation? Contact the team. To learn more, see Empower digital transformation with ELEVATE from Deloitte and Oracle.