Digital transformation is nothing new, and the most forward-looking companies have been doing it for years. Yet in 2020, the arrival of the COVID-19 pandemic accelerated the pace of transformation to unheard-of speeds.
Almost overnight, entire countries and industries had to change the way they operated. The businesses that were already on a software as a service (SaaS) and cloud journey prior to the pandemic had a head start—and in many cases, they fared better than those that put off transformation until the pandemic forced them to make the move.
Businesses today have learned that a new generation of modern enterprise applications is key to helping them build a resilient organization—one that can respond and adapt to sudden shocks faster and more easily.
The importance of modern cloud applications
Research firm IDC took a closer look at modern cloud applications in a recent report, Oracle Innovation Manifests in a New Generation of Cloud Applications. Author Frank Della Rosa, Research Director for SaaS and Cloud Software at IDC, writes: “Oracle Fusion Cloud Applications characterize this new generation of business applications and cloud services that are imperative for dealing with disruption from a position of strength.”
The strength that IDC refers to comes from the common data model of Oracle Fusion Cloud Applications, supporting native integration across our Fusion Cloud line of business apps covering: Enterprise Resource Planning (ERP), Supply Chain Management and Manufacturing (SCM), Customer Experience (CX), and Human Capital Management (HCM).
According to IDC, “A new generation of cloud applications is intelligent, easy to use, and better positioned to meet the rapidly changing needs of today's IT and business buyer that expects a frictionless purchase and onboarding experience; a consumer-like, responsive interface that encourages user adoption; and faster time to value.” They are “smarter, are fully integrated, deliver faster time to value, and are easy to onboard and use.”
With these capabilities, our customers are fast-tracking digital innovation in disruptive times.
Reliable data is critical for decision-making
In 2020, the world discovered that reliable data and processes are vital for survival—literal survival, in the case of vaccines and virus-tracking, but also economic survival, as we started to navigate the world of remote work and omnichannel fulfillment. Old business processes that didn't support rapid shifts were replaced with new digital processes, helping employees get access to the right data, at the right time, to make informed decisions and respond to their customers.
Along with integration and reliable data, what are some other benefits of a complete, interoperable suite of SaaS applications? For one thing, you don’t have to uptake the whole suite at once; you can onboard new capabilities in weeks and migrate your line of business applications at your own pace.
A complete, interoperable suite
We often see scenarios where our customers have legacy systems from competitors and want to modernize and digitize key processes immediately. For example, SAP ERP customers often adopt Oracle Cloud Enterprise Performance Management (EPM) to improve their financial planning, reporting, and close process. Or they enhance their supply chain capabilities with Oracle Cloud Transportation Management, part of our SCM solution. This approach to transformation helps you meet the business's most immediate needs while migrating your creaking, legacy core systems at a slower pace to minimize disruption. (Learn more about our offerings to SAP ERP customers here.)
Ultimately, as you transition more of your business onto the suite, you start to “eliminate the cost and complexity associated with a myriad of point solutions by investing in a platform that simplifies integration, features a common data architecture, and supports multiple deployment options.” That is a very compelling argument to adopt the next generation of application software—and be ready for whatever comes next.
Watch highlights of our Oracle Live broadcast: Hear about innovations across our cloud applications suite from Steve Miranda, Oracle Executive Vice President, Applications Product Development, and his development leaders. Hear how our customers responded to the last 12 months of uncertainty by partnering with Oracle as their innovator of choice.