Why Best Practice May Not Be Good Enough
Every software vendor touts their ability to deliver best practice. However, best practice isn’t really best practice if it’s not “Modern Best Practice” and doesn’t exploit enabling technologies such as cloud, mobile, and social. So says Steve Cox, Vice President, Oracle Applications Business Unit, who recently authored an eBook, Modern Best Practice Explained to articulate why only modern best practice good enough.
Q: In your new eBook, you say it’s standardizing that matters. Why is that so important?
SRC: Standardization drives demonstrable results. Standardization has its roots in Henry Ford’s assembly line and Deming’s Total Quality Management. More than a decade ago, one of the key factors in Oracle increase of profits by over $1 billion was standardizing on a common set of business processes.
And standardization is just as relevant today in the age of digital transformation. Every organization that wants to thrive and grow must look at every process and transaction to see if it can be performed digitally. The goals are the same as they have always been—cut costs and improve the consistency of your customers’ experience in a world where buyer behavior is constantly changing due to technology.
Q: How does standardizing on Modern Best Practice help organizations digital transform?
SRC: With digital transformation as the destination, you must ask, “What are we going to standardize on to arrive at that destination?” Modern Best Practice harnesses the enabling tools that are essential to any digital transformation journey—cloud, social, analytics, big data, mobile, and IoT. Modern Best Practice can provide the turn by turn directions on the road to digital transformation. For example, it can serve as an illustrated guide to executing on a social relationship management strategy that not only makes it possible to comprehensively listen to and better engage with customers and prospects on their preferred social networks but to also extend those practices beyond marketing and throughout the entire organization.
Q: Why publish Modern Best Practice on oracle.com?
SRC: Oracle is committed to open standards. That pledge includes not only a commitment to build comprehensive solutions that enable our customers to execute end to end business processes but also the promise to share our knowledge. With our new Modern Best Practice pages, we’re sharing that knowledge together with practical guides to adopting modern ways of doing business.
Q: Which emerging technologies will be next in drive towards Modern Best Practice?
There are many. Widespread adoption of devices like indoor positioning systems will trigger new practices for proximity based marketing. Moving to in memory analytics will enable organizations of all sizes to do data analysis they always wanted to do but couldn’t due to system performance issues. Less expensive and more powerful hardware will make it possible for organizations to process more transactions to generate incremental profit at peak times. Adopting IT systems that align with the way people do business will expand to supporting new devices so someone like me can, for example, approve an expense claim on my watch during a long distance trail run. And just the imagine the impact on food producers’ and manufacturers’ production and supply chains as 3D printing evolves.
Q: What’s next for Modern Best Practice?
SRC: Oracle has vast resources of knowledge and we’re just getting started in sharing that in our Modern Best Practice format. Next up, we will be publishing more content on commerce, sales performance, transportation, project lifecycle management, and projects. We’re continually adding more solution demos, relevant whitepapers, and executive level insight to help our customers understand how Modern Best Practice can be their guide to business transformation.
Modern Best Practice exploits new capabilities made possible by cloud, mobile, social, analytics, big data, and the internet of things, making it possible for your organization to achieve more, faster and with fewer resources. It is flexible, supports growth and innovation, and enables new ways to achieve consistently superior performance.
The views expressed here are my own, and not necessarily those of Oracle.