A multitude of businesses rely on Enterprise Resource Planning (ERP) systems to handle their accounting, management projects, procurement etc.. Often times, ERP systems can significantly cost IT departments, because they require an investment of both time and revenue out of the company’s pocket. While on-premise ERP has been beneficial to the business world thus far, moving ERP to cloud is becoming a quicker, easier and robust solution.
Due to the innovation of cloud computing in conjunction with software-as-a-service (SaaS), the future of ERP is rapidly changing for the better. Transitioning ERP to the all encompassing cloud gives companies the freedom of easing up on technological restrictions and benefiting more quickly on investments. As owners are learning the benefits of cloud ERP, they are appreciating the monetary and physical benefits. No maintenance fees coupled with a lesser need for technical support makes for one happy IT team. Cloud-based ERP solutions can provide businesses with the same services as their on-premise alternatives, at a lower cost. Providing a combination of services, cloud deployment offers a lower upgrading cost while maintaining technologies such as mobility, data on demand and scalability.
Oracle ERP Cloud applications and specifically Fusion Financials provides various benefits to businesses so they can be confident of comprehensive ERP solutions and support. As the business-world is accepting this exciting platform, many advantages are being recognized. To better understand the differences and benefits when deciding to utilize Oracle ERP Cloud Financials as opposed to on-premise ERP applications, please consider the following things:
1. Accuracy, Focus & Reliability
With the inclusion of Oracle ERP Cloud into an IT team’s plan, businesses cut out the need to put out revenue for an ERP data center. Cloud based ERP systems do not require the work of IT services to run successfully. No need to repair, upgrade or keep an eye on applications. The Oracle ERP Cloud acts as an intuitive service, allowing the IT staff to focus on developing programs, monitoring information and maintaining revenue sources. Essentially, the Oracle ERP Cloud allows businesses to focus their energies on increasing cash flow, while reducing the need to manually engage in system control. The Oracle ERP Cloud is unique in it’s class, the first of it’s kind to fully encompass and successfully manage the needs of a business.
Oracle ERP Cloud lets you say goodbye to pre-determined and formatted business models. The Cloud allows businesses the opportunity to put their own spin on things. This innovative design gives users the freedom and security to implement screen layouts, reports and information in a way that is unique to their business model. Once the customer has decided on a particular format, they are not locked in. The layout or response can be adapted again and again to fit the needs of the business. This futuristic approach gives companies the freedom to plan ahead.
3. User-Friendly Interface
Oracle ERP Cloud applications come with an entirely re-imagined interface and are embedded with state-of-the-art web technologies to operate more fluidly while maintaining the core benefits and financial business flow. In conjunction with the average internet browser, top of the line technology is implemented and carried out through cloud applications. The payoff is huge and can be witnessed in the increased power, consistency and user-friendliness interface.
4. Data Security & Privacy
Managing data is risky business. So many security breaches exposed flaws in in-house systems management stressing the need for major changes to ensure data security and privacy. The Oracle ERP Cloud has increased security and aims to secure data/privacy in the ever-changing and sometimes compromised online world of applications. The Oracle ERP Cloud utilizes heightened technologies that aim to secure data from the ground up, such a secure system cannot be provided in-house.
5. Reduced Implementation Costs
As a whole, Oracle Fusions Financials Cloud is up to 20% cheaper than on-premise implementations. There are several reasons for this: The cloud system is loaded with the newest software, making it twice as fast and even more consistent. In addition, businesses are experiencing higher success rates in utilizing the most ideal business model for regular business flows.
One of the most important features in Oracle ERP Cloud is integration, we are seeing an increasing need for fast and reliable technology. Customers are needing to store and move data through faster, while keeping everything secured. The Oracle ERP Cloud surpasses its predecessor in this area, providing vast web resources for inbound and outbound interfacing. The benefits of quicker integration are paving the way for the future of this industry.
7. Quick Data Reports
A major benefit of utilizing all that the cloud has to offer is experiencing the benefits of viewing enhanced reports, data and financial ledgers. Whereas traditional cloud applications provide a few data reports to choose from, the Oracle ERP Cloud provides users with a broader range of options. The Hyperion Essbase engine offers easily read data and various applications provide PDF files on an easy to use system. Users will enjoy the familiarity of the system and benefit from all of the extras provided for less effort.
8. Streamlined Business Processes
The improved Cloud design allows business to operate in a fast an efficient manner. The Cloud has frequently updated systems that allow businesses the confidence and technology to enhance and strengthen their business. Previously, things like quick functionality and easy content management required a lot of after-market changes, but it is very different with the new and improved Oracle ERP Cloud. The handling of content, data and business intelligence has been completely renovated. Cloud technology can play a huge role in seamless integration and optimizing a company’s streamlining practices.
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