By Deborah Hamilton-Oracle on Jul 14, 2014
It doesn’t matter that I’ve done it a dozen times before. I am still amazed at how easy it is to submit a claim for out-of-network expenses through my health insurance provider. I log onto their web site, enter information from the physician’s statement, hit submit, and the money is in my bank account three days later. When my husband suggested that we switch to his health plan to save some money, I refused. I simply can’t go back to the days of printing claim forms, scanning receipts and faxing in documentation. Like everyone else, I want speed and simplicity. With two kids, a horse, and 2 spoiled dogs to take care of, can you blame me?
Today, people expect that digital experience. For many companies, cloud applications offer a quick on-ramp to a digital way of doing business. For example, you can find highly qualified candidates faster through social recruiting. You can target messages and promotions to individual customers with cross-channel marketing. You can use a mobile device to generate a quote for your customer while you’re meeting with them.
So far, most companies rely on cloud applications to address a specific business opportunity. Eventually, though, you’ll want to integrate these cloud applications into a larger process. Let’s say you’d like to recruit sales people who have a greater likelihood of becoming high performers. You’d need to identify your current top sales performers, create a “top sales performer” profile, recruit people based on that profile, and then measure how they perform. This is no longer just about social recruiting. It involves sales, HR, talent management, and finance.
Think back to my claims processing example. I’m no health care expert, but I know that level of service requires different systems working together – including the customer portal, provider database, claims processing, benefits tracking, reimbursements and accounting. It also requires master data management, security, analytics, and integration.
At Oracle, we say we have more enterprise cloud applications than anyone else does. But what does that really mean? It means that we think business needs both speed AND standardization. You get speed and innovation by adding cloud modules to your existing on premise portfolio. When you’re ready, you also get the benefit of standardization by migrating core transaction systems to the cloud as well. Our core Fusion cloud applications for CRM, HR, ERP and SCM all share a single data model, single sign-on, business intelligence and integration framework.
So the next time you’re caught in vendor hype over the cloud (mea culpa, we’re all guilty of this), think about everything that goes into making an exceptional business experience. It’s a combination of rapid innovation AND standardization.