Small companies in all industries tend to face similar issues as they grow. They get stuck at various levels of development. Common bottlenecks are often people- and systems-related.
Having a single capability for recruiting, hiring, training, time and labor tracking, payroll, HR, benefits, performance, compensation, and succession planning can make all the difference.
Industry analysts were initially skeptical that Oracle—known as a large company vendor, and the provider of the hugely successful PeopleSoft HR—could move its Fortune 500 capabilities to a more flexible and nimble cloud offering. Yet based on independent assessments, and conversations with a rapidly growing customer base, top analyst firms are starting to acknowledge a strong value offering. Oracle is now putting Fortune 500 capabilities within easy reach of just about any company, of any size.
After attending OpenWorld 2016 and speaking with numerous Oracle customers, Lisa Rowan, research vice president of HR, talent, and learning strategies at IDC, published Oracle OpenWorld 2016: Buyer Perspectives on Moving HCM to the Cloud.
The Oracle Cloud includes robust capabilities for recruiting and human capital management—a huge plus for growing organizations. Here are the key reasons why customers select Oracle HCM Cloud:
- Low price. Oracle HCM Cloud was cited by some clients as the lowest price solution when compared with leading competitive solutions.
- Complete and Customizable. When compared with other leading solutions, customers didn’t see the extensibility they wanted. As one HR executive put it, “If you can extend a technology, the sky is your limit.
- Scalability. Some clients were looking for an application that could support increases in workload—for example, through M&A or geographic expansion.
- Development Road Map. Today’s functionality is important, but so is tomorrow’s—and Oracle has the resources to offer clients an aggressive road map. “Oracle is very robust and dedicated to innovating and to enhancing the product,” one client said when asked why they selected the vendor. Another commented, “Oracle will make sure that the technology matures with the customer, at the right pace, so it matures with you.”
- User Experience. Prior good experience with Oracle, either as the incumbent in some cases or from prior employers in others.
- Global Capabilities. Oracle is global; it fits the client’s landscape and had the needed languages and localizations.
- Security. Client “felt good” about Oracle’s security capabilities.
- Advanced Reruiting. The recruitment team felt Oracle’s recruiting was more advanced than the competition for what they needed. Competitors’ recruitment functionality was seen as not as advanced.
- Vendor Viability. Oracle is pretty much guaranteed to be around for the long haul, something that can’t necessarily be said for smaller and newer rivals. “Oracle is going to be here in 10-15 years,” one customer told us with certainty.
- Value-added Features. These include robust analytics. “I love Oracle’s predictive analytics,” one Oracle customer told IDC. “I love the way they are embedded into the page and the tools are intuitive and easy to use.”
- Customer Service. Oracle is deploying a more supportive service culture to support customers; its clients are now more continuous and not just about selling licenses once a year. “There is a major shift in Oracle to become a services company rather than a product company—support is something that Oracle has been investing so much in,” one customer said.
Companies positioned to gain the best competitive advantage are often the early to mid-stage adopters. For small companies that compete on people, innovation, and agility, the Oracle HCM Cloud is certainly worth a look. Some of the top analysts agree.