By Bobby Ellis, Global Practice Lead – EPM, Datavail
Last month, Oracle published its annual EPM Top Trends Report. Among the major findings: organizations are moving enterprise performance management to the cloud in record numbers—in large part to avoid upgrading their on-premises systems. In fact, “Avoiding on-premises upgrades” is now the top reason for moving EPM to the cloud, cited by 48% of respondents.
Organizations that make the move are realizing significant benefits, including the ability to leapfrog competitors that are still wedded to inefficient spreadsheet-based processes. Yet there are still organizations that are clinging to their on-premises EPM systems—partly because they aren’t sure where to start when moving to the cloud.
After performing hundreds of Oracle upgrades and migrations for our customers at Datavail, we'd like to think that we know a few things about the best way to go about a cloud migration. Here's a few of our top suggestions:
Let’s look at a few case studies of companies that have successfully migrated from their on-premises systems to Oracle EPM Cloud.
One of our clients, a data analytics company that helps consumers better understand their financial situation, was already using a 5-year-old installation of Hyperion. Roughly 25 employees were using the deployment, which included heavy utilization of the workforce planning module.
The client knew that it would have to upgrade soon to continue receiving Oracle Premier Support. With a migration on the horizon, the client also decided that it would switch from Hyperion on-premises to Oracle Enterprise Planning and Budgeting Cloud.
Datavail worked with the client on a 3-month migration project, leveraging the client's existing on-premises applications. The client was able to realize all the traditional benefits of a cloud migration: lower IT support costs, mobile access, and automatic patches. In addition, the client realized additional benefits, including an improved user experience, faster calculation times, and access to more granular detail for variance analysis.
Another of Datavail's clients, an east coast power and energy company, saw even more dramatic improvements by switching to Oracle Planning and Budgeting Cloud. Before the migration, the client was using a manual Excel-based process managed by a single person. This individual was responsible for not only preparing Excel templates for two dozen department heads, but also receiving and aggregating the results.
By moving to Oracle EPM Cloud, the client hoped to avoid the standard woes of Excel-based processes: wasted time, lack of standardization, and limited reporting capabilities. The client also wanted to take advantage of the positive aspects of the cloud, including less physical infrastructure and fewer upfront costs.
The client approached Datavail for a 2-month migration project. Once the upgrade was finished, the client saw major gains in their process efficiency, exactly as they had hoped. Users could enter information directly into the system and automatically aggregate it, without the need for manual data processing. These improvements to efficiency also freed up more time to analyze and gain insights from the data.
The prospect of moving from on-premises to the cloud can seem daunting, leaving one wondering where to start. You may take comfort in knowing that others have gone before you and benefit from their collective experience. Based on our experience with helping dozens of clients make the transition, we offer the following initial steps to help your organization get started:
With benefits including better scalability, higher performance and lower costs, cloud-based computing has become the norm for organizations of all sizes and industries. Indeed, many of the capabilities in Oracle EPM Cloud are now more robust and feature-rich than their on-premises equivalents.
Interested in leveraging the benefits of Oracle EPM Cloud for your own organization? We can assist with everything from roadmap development to post-go-live support, including automated regression testing for regular updates. Contact Datavail today for a free consultation about your business needs and objectives so we can help you along the way.