6 lessons Oracle learned when moving its finance organization to the cloud Sponsored by Oracle
Finance leaders are looking for ways to cut costs, including fast-tracking investments in technologies that automate business processes and improve insights into company operations. That analysis applies to their own organization’s systems and processes as much as to anyone else’s.to make that move.
To ensure that those decisions didn’t inadvertently introduce more complexity for end users or drift from the company’s strategic goals, Oracle instituted a governance model to enable executives to overrule decisions if necessary to meet those goals.Companies that have heavily customized their applications will see a lot of benefit from standardizing and simplifying their business processes, which they can do either before or during their move to the cloud, Guner says.
“It’s easy for the core implementation team to get so excited about deployment or the new features or getting as much technically out of the tool as possible that they end up not focusing enough on the end user experience,” she says. , but some of those models were too complicated for other employees who needed to use the system. While her team’s intent was to eliminate manual work in Excel, the complexity for some end users drove them right back to spreadsheets.
Oracle’s finance team can now close the company’s books, prepare all reporting and required analysis, prepare guidance, and release earnings—as well as publish the 10Q report for the Securities and Exchange Commission—about 50% faster than before, she says.Guner set a goal early on that Oracle’s finance organization would become what she calls a “game-changer” department—one that leads rather than follows other groups.
At Oracle, for example, a finance business partner may see opportunities to introduce new discounting processes based on her analysis of what-if scenarios using Oracle EPM Cloud. She would lead that effort, working with sales leaders, product marketing, engineering, data center management, and line-of-business units to review the findings and explore options.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
11 Oracle Card Decks to Add to Your Tarot Card Practice ASAPDraw upon all the energy and wisdom the spiritual world has to offer.
Read more »
11 Oracle Card Decks to Add to Your Tarot Card Practice ASAPDraw upon all the energy and wisdom the spiritual world has to offer.
Read more »
How to Eat a Quiche, According to Legendary Editor Judith JonesThat, and other lessons learned from the woman who helped bring America’s greatest cooking icons to light.
Read more »
IBM BrandVoice: The Essential Role Of Government During COVID-19During times of crisis, governments around the world must act quickly and decisively, even in the face of limited information Sponsored by IBM
Read more »
Deloitte BrandVoice: When Strategy Leads, Success Follows: Tips For Keeping Up In The Fourth Industrial RevolutionOne of the key components for business success in the Fourth Industrial Revolution (or Industry 4.0) is the embrace of disruptive technologies and the implementation of holistic strategies that take advantage of these technologies across the organization.
Read more »
SAP BrandVoice: What Midsize Companies Should Know About The Customer Experience In Times Of Intense Changewe are bound by lifestyles dictated by social distancing, supply chain bottlenecks, and operational setbacks. For midsize businesses, this is the perfect time to reconsider the effectiveness of their services and redesign them around customer needs – no matter how they change.
Read more »