With the digital transformation, many organizations choose to adopt SaaS/Cloud solution to equip their users. Thanks to its great flexibility of use and configuration, Cloud is becoming much more successful than an On Premise solution, which is more expensive to install.
It becomes impossible for CFOs and CIOs to avoid advantages Cloud offers, especially when we know that Cloud is growing 8.5 times faster than the overall market.
In fact, according to a survey lead by Oracle in 2015, CFOs are increasingly interested in Cloud EPM solutions (75%). Among the finance executives surveyed, 65% declare that their first motivation to migrate to a Cloud based EPM solution is to get up and running quickly and 53% said that they are ready to choose a Cloud EPM solution to avoid large up-front investments.
The reason of this growing interest for Cloud EPM Solution may reside in the financial benefits which are behind.
Indeed, according to Nucleus Research (leading provider of investigative technology research) :
– Cloud Application allows to have 1.7 times more ROI than an On-Premise Application
– 4/5 of Cloud deployment increases benefits
– Organizations which deploy Cloud-based solution make cost savings on consulting (40% less) and on personnel (25% less) compared to an on-premise system deployment.
These figures are very representative of the financial advantages Cloud Computing can deliver to an organization and very interesting, especially for CFOs.
For the IT teams, others benefits may be more significative for them:
– Facilitate acquisitions and mergers
Most of the time, after a merger or acquisition, the process to integrate data from one system to another is very long and can take several months. Thanks to a cloud-based system, this process is quicker and cheaper.
– Updates are made automatically
Having a cloud-based solution avoids the IT team to manage the upgrades. This is the SaaS vendor who is responsible of that.
– More flexibility for entering new market
With a cloud-based EPM, people working in the IT and Finance department can help their peers working in a new acquired office without the locked-in hardware and any others elements that can brake to seize new opportunities that can increase business.
Once convinced by the many advantages of a Cloud EPM solution, it can sometimes be difficult to choose which Cloud EPM corresponds to your organization needs (SAP FC, EPM Cloud Oracle..). In this article, we will make a focus on the EPM proposed by Oracle, EPM Cloud Oracle. This latest “combines market-leading applications with cloud-based delivery for increased business optimization”.
EPM Cloud Oracle proposes many processes such as:
- Financial Close
- Planning and Budgeting
- Enterprise Reporting
- Profitability and Cost Management
Oracle which delivers EPM solution to customers for over 30 years has been named in April 2015, the leader in EPM solutions by Gartner: “Oracle is a consistent leader in this market and maintained its ability to execute its leadership position due to its broad support of CPM processes, as well as the February, 2014 release of its SaaS PBCS offering, ahead of the other Leaders in this Magic Quadrant.”
To make your EPM Cloud deployment a success, it is essential that your team/staff get involved in the project. The success of a new tool such mandates the engagement and training of the people. They are the one who add value and agility to the organization. Offering Shortcuts Virtual Assistant to your EPM Cloud Oracle is very appropriate!
With a better knowledge of the EPM thanks to Shortcuts, the appropriation of this latest from users will be easier and you will allow your organization to meet success in their EPM deployment!