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Advice and Information for Finance Professionals

  • September 6, 2016

Start Your Journey to Modern ERP Cloud at Oracle OpenWorld

Lynne Sampson
Managing Editor

At last year’s Oracle OpenWorld, Rondy Ng, senior vice president for applications development at Oracle, commented that the question isn’t whether your company will move to the cloud. Rather, the question is “When?”

Judging by so many reports we see in the news today, and data from firms that monitor the market, the answer for a growing number of companies appears to be, “Now, or very soon from now.”

Earlier this year, Gartner reported that the market for public cloud services will climb 16.5% to $204 billion. The company said the growth rate “reflects a shift away from legacy IT solutions to cloud-based services, due to the increased trend of organizations pursuing a digital business strategy.”

Even in regulated industries and in government, we are witnessing faster adoption of cloud technology. Consider this: It’s estimated that a quarter of the U.S. government’s $80 billion IT spend will target migration to the cloud. IDC reports that U.S. federal cloud spending will reach $6.7 billion by the end of this year, or 8.5% of all IT purchases.

One of the biggest concerns that many companies express about cloud technology—especially when it comes to sensitive finance data—is security. But confidence in the ability of cloud-based Enterprise Resource Planning (ERP) to safeguard data is growing—so much so, that even businesses in regulated industries are adopting cloud ERP. Examples range from established banks like Australian Finance Group, to fintech start-ups like Werkbank and PeerPay.

Local Regulations Are No Barrier to Cloud Adoption

Other historical stumbling blocks have been data residency or sovereignty laws—which have stymied the efforts of some companies to take advantage of cloud-based ERP in some regions. At Oracle, we’ve been addressing that challenge by constructing state-of-the-art data centers all over the world, to help businesses meet data-sovereignty regulations.

Region-specific barriers to the cloud drop even faster when companies discover that each of our Oracle ERP Cloud solutions support 24 languages and have more than 50 country localizations.

The scalability of cloud-based solutions has helped many cautious or budget-limited companies take incremental steps into the cloud. In addition to ERP, Oracle offers a full suite of cloud solutions for every industry, from which companies can choose the functionality that meets their most immediate needs. Equally important, our cloud-powered software can easily connect to legacy on-premises applications to help our customers get ongoing value from them.

Our modern cloud can scale to meet the needs of small, midsize and large enterprises. Because our data centers are capable of handling hundreds of millions of transactions per hour, no tasks go undone and all of them are completed in real time.

Oracle ERP Cloud Continues to Innovate

At last year’s Oracle OpenWorld, we demonstrated the latest release of Oracle ERP Cloud, which included 190 new features. This year’s event will showcase even more enhancements. Our focus on innovation hasn’t shifted, as we strive to build the right solutions for a wide range of customers, including:

  • Fast-growth, cloud-native companies that have never used Oracle on-premises
  • Companies that need to upgrade or replace their Oracle on-premises applications
  • Companies that want to deploy some functionality in the cloud to work alongside their on-premises ERP

A wide range of companies and institutions—Solarius Aviation, Boise State University, Irving Materials, and more—are optimizing crucial processes by migrating finance to the cloud.

And once again, this year’s ERP Cloud focus at Oracle OpenWorld features a plethora of customers, each willing to share their journey to the cloud. Attendees will have the opportunity to hear from senior executives from companies such as Orange, Qualcomm, CNL, GE Digital, Profound Medical, City of Detroit, Alex Lee, Skanska, Hillside Family Agencies, Ballard, Transit Wireless, American Well, and the Cerebral Palsy Association of NY. These speakers bring a treasure trove of critical information and proven success recipes that will guide customers seeking an ERP Cloud journey of their own. The learnings gleaned from these cloud veterans will prove invaluable!

Many other customers will be sharing their stories at Oracle OpenWorld this month. If the question you’re asking about migrating to the cloud is not if, but when, make sure you join us in San Francisco

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