Robots—software, really—continue to revolutionize enterprise finance departments. Automation is replacing traditional financial roles and transforming others, offering even more innovative opportunities in the enterprise.
Accounts payable clerks, accounts receivable specialists, inventory control admins, and more enterprise positions, are being automated completely, freeing up headcount for new roles to deliver more business effectiveness. The Oracle Applications Cloud user experience (UX) strategy reflects these kinds of trends and innovates accordingly.
And yet, the birth of such financial innovation was in the least likely, most un-sci-fi place, you might imagine: the teashops of post-World War II Great Britain. In 1951, British catering giant J Lyons & Co. kick-started ERP as we now know it by introducing the first enterprise computer: LEO (Lyons Electronic Office).
Computing was not new, of course. What was innovative was how Lyons used it in business. Starting with the replacement of dull, repetitive tasks performed by clerks collecting and entering data, LEO went on to manage the Lyons payroll, the catering supply chain, and more.
LEO led the world in business computing at the time, and gave rise to today’s systems engineering. And all because of a dream of one day being able to add up the receipts for Lyons's iced buns in the teashops of Great Britain.
Enterprise Resource Planning (ERP) user experience (UX) is no longer just icing on the cake. It's central to user happiness and business productivity, satisfying that ever-ravenous appetite for consumer-like apps in the enterprise. UX is now that must-have item on the menu of enterprise cloud software adoption.
Number-munching: David Haimes glances across the Oracle ERP Cloud UX over the best of Oracle HQ catering.
I chatted with David Haimes (@dhaimes), Senior Director of Oracle Applications Product Development and all-things Financials Cloud UX champ, about financial departments moving from cupcakes to computers and now to the cloud.
Over the best of Oracle HQ Building 300 bakery cakes, David explained:
“That mundane, day-to-day work of calculations has been transformed by enterprise software. Now finance departments do things automatically, faster, and with fewer errors. Oracle ERP Cloud enhances daily activities, enabling departments to analyze data for profit, revenue, and cash flow insights for business planning and financial forecasting, and to manage by exception.
For example, with the Oracle ERP Cloud visualizations of financial data, finance departments can easily spot trends and opportunities to run the business better. At a glance, a department can see those outliers and exceptions that may be threats and deal with them before they become real problems.”
What's going on here? At a glance, period close, revenue, expenses, and more questions are answered for the finance department using Oracle ERP Cloud.
David demonstrated how the Oracle ERP Cloud user experience enables higher-value finance department activities using the Glance, Scan, Commit design philosophy. At a glance, from one page an analyst can see what’s going on with a company’s finances, what needs attention, and then scan for more detail and commit to act on it easily, if necessary.
Oracle ERP Cloud user experience is no amuse-bouche, but the main course for CIOs and decision makers, saving their businesses time and labor costs. With the median number of full-time financial employees falling in big companies by about 40% since 2004, there are now about 70 finance people needed for every $1 billion of revenue, according to consultants, the Hackett Group. It's all about ROI. Oracle ERP Cloud serves up a great recipe for user satisfaction (key ingredients: zero training, talent attraction, and retention) too.
Oracle ERP Cloud watchface on Android Wear smartwatch. With financial data in the cloud, the glance design philosophy enables finance departments to work seamlessly across devices.
We’ve already busted that myth that financial departments are far from social, and now another stereotypical view of accountancy is up-ended. Emerging financial roles have become sexy, the analysts required for today’s financial departments are hot talent demanding higher remuneration.
This is one sweet story about Oracle Cloud ERP and an awesome baked-in UX: automating the routine; enabling a eminently more interesting world of work for real people previously dismissed as being disinterested in such things; delivering benefits across the entire business; and being easily customized to suit any business taste.
Now, who wouldn’t want a slice of that action?
Time for Tea?
Take some time to explore the Oracle ERP Cloud user experience more with our online resources.
And, watch out for some tasty ERP Cloud sessions at Oracle OpenWorld 2015.
David Haimes blogs on the Oracle Intercompany Financials Blog.
* With apologies to Mr. K.