Enterprise resource planning (ERP) software has been a vital part of nearly every organization since the 1990s. In its heyday, on-premises ERP gave businesses significant horsepower, directly impacting competitiveness. But times have changed—and in most companies, what was once a reliable workhorse is quickly reaching the point where it should be put out to pasture.
In a recent APQC survey, finance respondents said that they spend nearly half of their time on transaction processing: ensuring that bills get paid, customers get accurate invoices, general accounting work gets done, fixed assets are accounted for, and other routine finance tasks are accomplished.
Yet that's not how executives want finance teams to be spending their time. The report’s authors write, “…if you ask CEOs and boards of directors what they need most from their finance teams, many will tell you they want fast, reliable, concise information about the economic implications of specific tactical moves.” Decision support is their priority; yet finance teams are too bogged down with routine work to provide it.
Legacy ERP systems don’t provide the high levels of automation that finance teams need to be more strategic with their time. Emerging technologies such as artificial intelligence/machine learning, blockchain, the Internet of Things, and others are poised to revolutionize the way that finance teams work—automating the vast majority of transactions so that finance leaders can focus on analysis and decision support.
These new technologies, and the high levels of automation that come with them, are only available through ERP in the cloud. On-premises systems simply cannot be changed or updated quickly enough to support the continuous onslaught of new capabilities.
Cloud ERP software is updated several times a year by the provider, delivering new innovations rapidly, so organizations of all sizes can make data-driven decisions and respond quickly to volatile markets and industry disruption. Cloud ERP software can significantly benefit many areas of your business.
So, how much could a modern ERP cloud benefit your organization?
Start by entering basic information about your business, such as name, country, revenue and number of employees. The calculator uses this information, along with industry benchmarks, to estimate your potential benefit increase by adopting Oracle ERP Cloud.
You can dive deeper into the inputs for more tailored results. Edit figures to provide details about your business, such as current operating profit margin, annual software support cost, how many times your current applications will be upgraded, and how many years you’d like to calculate for your business case.
The results give you a breakdown of the benefits you could see by using Oracle ERP Cloud:
Your results are consolidated into a personalized report which can be downloaded and shared with colleagues, supporting your business case for switching to a modern ERP system.
You’ll also find a wide range of assets, including eBooks, videos, whitepapers and customer success stories to help you learn more about modern ERP.