EPM Cloud Benefits - Collaboration

What to think of when moving to the Cloud

What to think of when moving to the Cloud

Digital transformation is being driven by many pressures and is steering organisations to move to the Cloud.

Digital transformation can be summarised as “the process of using digital technologies to create new — or modify existing — business processes to meet changing business and market requirements”. It is the reimagining of business in the digital age.

Moving to the Cloud adds many points of value to an organisation including

  1. Improved time to value

  2. Lower cost of total ownership

  3. Productivity gains

  4. Reduced need for IT involvement

  5. Enhanced organisational flexibility

What to think of when making the move?

  • Review your current processes and applications

Where can the greatest gains be made? A finance team for example, is it by removing your manual spreadsheet processes and improving team collaboration? Is it by eliminating, simplifying, standardising and automating processes?

  • Develop your business case and sponsorship team

Determine your objectives, the right resources, look at your risks and find a dedicated Sponsor. Your objectives should be measurable, such as reduced time or FTE resource requirement to complete XYZ task (e.g. Month End Close).

  • Develop a plan

Your plan should focus on developing a better product/process and not lose focus on what you set out to achieve (your objectives)

  • Engage with the implementation team

Your team will include a wide range of Subject Matter Experts (SME’s) across the business. Your SME team should work tightly with a specialist implementer who may specialise in Cloud Technologies.

  • Build and deploy

Consider a foundation or proof of concept to start if you are new to the technology during your application development. Seeing the working product in a shell like, working state will help to engage the users and consider improvements as you iteratively develop the working application sprint to sprint, via GK’s iterative development process.

There are clear benefits to moving to the Cloud. Holistically, efficiency, agility and usability are commonly improved.

When you are making the move you should always consider an #Oracle partner with experience who will make the move that much easier.

_________________________

GK is a London based Oracle Enterprise Performance Management (EPM) Cloud Consulting organisation focusing on Oracle back office applications including

  • Enterprise Planning and Budgeting Cloud – EPBCS

  • Profitability and Cost Management Cloud – PCMCS

  • Account Reconciliation Cloud – ARCS

  • Narrative Reporting Cloud – NRCS

  • Financial Consolidation and Close Cloud – FCCS

  • Oracle Analytics Cloud – OAC

g#runwithgk #accounting #financetransformation #innovation #Oracle #EPM