X

Expert Advice for Medium and Midsize Businesses

Learn How to Reimagine Finance and Operations at Oracle OpenWorld Dubai

This is a syndicated post, view the original post here

Last week we wrote about the tremendous popularity of the Oracle@Oracle Experience during OpenWorld 2019 in San Francisco. If you missed us in California, don’t worry; we’re going on the road in 2020 to spread the word about how we’ve completely reimagined Oracle from the inside out using a full suite of Oracle Cloud applications.   

Oracle OpenWorld is coming to Dubai, London, Singapore and Sao Paolo in the first half of the year, and the Oracle@Oracle Experience will be at every show. On top of that, we’ll also be at Modern Business Experience in Chicago this spring.  This blog post will focus on what’s in store for attendees going to OpenWorld Dubai, and why you need to put the Oracle@Oracle Experience at the top of your must-attend list. 

What is the Oracle@Oracle Experience?

For several years here at Oracle, we’ve been on a journey—from a traditional vendor of licensed, on-premise software, to a provider of cloud services. A change in business model for a company our size is a huge undertaking, and we’ve had to re-examine every aspect of our business, from first-touch marketing to subscription renewal. Any service business needs to be customer-centric at every touchpoint, and leaders from many other companies have asked us, “How did you do it? How did you transform an entire business?” 

The Oracle@Oracle Experience is designed to answer those questions. It’s the first-ever showcase giving you inside access to Oracle line of business leaders across finance, supply chain, HR, sales and marketing.  If you’re a finance or supply chain professional, you’ll be able to attend almost a dozen sessions run by Oracle finance and supply chain leaders excited to share best practices and learnings from our own transformation efforts using Oracle ERP, EPM and SCM Cloud. Check out the full session catalog and read on to see some of the top finance and supply chain sessions we are bringing to OpenWorld Dubai. 

Reimagining financial reporting

“We want to eliminate human intervention in every transaction process that we can and frankly, automating every transaction really is possible. We’re looking at every place where there is human intervention, and we're thinking about what techniques might be available—whether it's artificial intelligence, machine learning, or other techniques—to automate it.” 

— Corey West, EVP, Corporate Controller and Chief Accounting Officer, Oracle 

Some of the top sessions at the Oracle@Oracle Experience in San Francisco tackled the topic of how to reimagine financial reporting for the digital age, using machine learning, artificial intelligence and other emerging technologies to automate as many manual processes as possible so finance is freed up to focus on more strategic activities. OpenWorld Dubai will be no different, with sessions on the strategic approach Oracle took to upgrade from E-Business Suite to Oracle ERP Cloud and how Oracle is automating financial reporting with Oracle EPM Cloud and Oracle Analytics Cloud.

Reimagining financial planning and analysis (FP&A)

“When you eliminate a lot of the complexity out of the system, and you have the reporting available to you, all of a sudden you realize, 'Wow, I have a little time on my hands.' You can actually utilize your people's time to do real-time analytics, as well as looking forward two or three years from now. We actually have done that, using Oracle EPM Cloud, to look at long-range planning activities, and understand where we should be spending versus where we are actually spending.” 

— Ivgen Guner, SVP, Global Business Finance, Oracle

FP&A sessions were equally as hot in San Francisco, and will be on display in Dubai with sessions on how Oracle moved to EPM Cloud to deliver better business outcomeshow Oracle automates financial planning to achieve greater business agility; and how Oracle is preparing the future-ready finance workforce for data-driven decision making and greater business influence. There will also be a special session dedicated to change management strategies for moving to the cloud and preparing for the continuous updates that come with a cloud model. 

Reimagining back office operations

As the CFO remit continues to expand into the back office, we’ve added some special sessions on human resources and supply chain, to highlight the importance of an integrated view into the business. In the supply chain area, we will showcase Oracle’s strategy for delivering a future-ready supply chain, and how we use Oracle SCM and Oracle Analytics Cloud to connect and orchestrate transactions across product management, planning and execution. We’ll also explore the benefits of an integrated Finance and HR platform as part of the Business Transformation Theater, a session you can’t afford to miss if you want to take advantage of a single data and security model to get better insights into your talent and workforce planning needs. 

Join us to learn about our results 

All the Finance and Operations sessions at Oracle OpenWorld Dubai will focus on the results Oracle has achieved by standardizing on ERP, EPM and SCM Cloud—and rest assured, they have exceeded everyone’s expectations!  Here are some benefits we’ve realized and will be sharing more about in the Finance & Operations Theatre at the Oracle@Oracle Experience:

  • Eliminated 35% of manual accounting
  • Reduced global expense allocations by 98% 
  • Reduced accounts payable close by 30% 
  • Streamlined global intercompany tie-out to 1.5 hours  
  • Cut down scenario modeling time from days to minutes 
  • Redeployed 10% of headcount in FP&A from data gathering to strategic risk and opportunity analysis
  • Slashed supply chain planning cycles from one week to 48 hours 
  • Reduced supplier records by 50% 

Of course, like any business transformation, there have been challenges along the way. Oracle’s line of business practitioners will share their experiences and provide advice on how to navigate transformation and manage change in your own organization. 

Learn more about Oracle's transformation and register for Oracle OpenWorld Dubai.

Be the first to comment

Comments ( 0 )
Please enter your name.Please provide a valid email address.Please enter a comment.CAPTCHA challenge response provided was incorrect. Please try again.