ERP 2.0 with digital technologies has dramatically changed how users engage with their applications. Enterprises seeking to build a foundation for agility and growth will do well to consider the two categories of Modern ERP - modern business application design and modern platform parameters.
7 components of the modern ERP:
The key factors driving the move to Oracle ERP from JD Edwards are increasing business agility, reducing risk and IT complexity, enhancing collaboration and unifying all business applications on a single platform for greater productivity and better decision making.
Security: A multilayer approach to secure data at every layer is paramount for the ultimate data protection. Using a secure data isolation architecture in the Cloud enables faster data processing and access whale reducing risks.
Integration: ERP cloud solutions can seamlessly integrate the core business, people, and processes. It can also connect with other clouds, on-premise systems, and third-party solutions. The ideal solution would use a common framework to ensure scalability and compatibility.
Personalization:Cloud-based solutions, i.e., a standards-based platform, offer configuration and personalization within the application, resulting in upgrade-safe enhancement.
Completeness: In-built best practices allow standardization that lowers costs and increases productivity. Even if the business transition to the Cloud is incremental, access to a complete suite of integrated best-practice business processes can deliver enterprise-level standardization.
Globalization:Enterprises going global, entering new markets, and new geographies can be complex. The Oracle Cloud ERP enables sharing of enterprise information seamlessly across business units, operations, and offices.
Insight-driven analysis:Oracle cloud ERP offers secure, real-time data access at its financials core to provide a single source across analysis, reports, and roles. It ensures the delivery of accurate KPIs to the front-line managers and simplifies the process.
Digital capabilities :Digital technologies can be integrated into business transactions and processes to make it a productive and intuitive experience. Oracle Cloud ERP offers mobile accessibility and engaging user experience, native social integration for secure collaboration, and optical character recognition for imaging.
Oracle Cloud ERP: Making an impact across industries
Use-cases of modern best practices-based applications that combine technology, best practices, connectivity with knowledge:
- Global accounting
- Embedded analytics and reporting
- Single suite for a complete solution
- Future-proof enterprise applications
- Industry-focused solutions
Oracle Fusion Cloud ERP: Enabling end-to-end business flexibility
Customers who choose Oracle Fusion Cloud ERP seek multinational and global deployments, have large-enterprise requirements, require vertical expertise, and seek native analytics, automation, and artificial intelligence (AI) capabilities.
Oracle Fusion Cloud Enterprise Resource Planning Applications include the following:
- Oracle Financials
- Oracle Project Management
- Oracle Procurement
- Oracle Risk Management and Compliance
- Oracle Fusion Cloud EPM Planning and Budgeting
- Oracle Enterprise Performance Reporting Cloud
- Oracle Fusion Cloud EPM Enterprise Data Management
- Oracle Cloud Supply Chain Management & Oracle Manufacturing
- Oracle Cloud Financial Accounting Hub
- Oracle Subscription Management
Strengths of Oracle Cloud ERP on Analytics, Automation, and AI
- Oracle’s upgrades in automation and ML make it a leader for integrated or stand-alone financial solutions as it offers global and international finance capabilities.
- Oracle has embedded the AI infrastructure required for the early stages in intelligently automating transactions presenting a strong foundation for autonomous and self-driving ERP solutions.
- AI powers relevant and within-context user experiences. Oracle Cloud ERP has a UX paradigm that enables personalization at scale, with digital assistants showing depth beyond capability.
- Oracle Cloud ERP offers project management and project-based ERP credentials to both services-centric and project-centric enterprises.
- With a CFO-centric and user-centric approach, Oracle Cloud ERP has enhanced planning and budgeting capabilities.
- Enhanced industry-focused requirements and adoption across many industry verticals help address industry-specific needs and a multitude of regulatory requirements.
- Oracle offers a unified data model and a tight integration with Oracle HCM and Oracle CX.
- Oracle Cloud ERP can be deployed as software-as-a-service or hosted as [email protected], with transparent pricing models.
Oracle Cloud ERP: Roadmap to deployment excellence
Post-digital ERP comes with evaluations of on-premises versus cloud and legacy ERP versus post-digital ERP. It starts with optimization and innovation with the Cloud, then building for AI.
The Steps towards deploying Oracle Cloud ERP:
- Surround legacy systems with cloud innovation and hybrid integration. Organizations seeking to embrace Cloud ERP can start with cloud solutions for recruiting, talent management, pricing, forecasting, and demand planning. The objective is to understand the ease of use while accessing innovation at the edge. Ideally, businesses should select integration tools that will enable hybrid models and long-term cloud-to-cloud orchestration.
- Consider a two-tier approach to Cloud ERP by starting with an upgrade or replacement project inside a business unit, geography, or division. Redesign processes for both automation and efficiency to drive future-proofing across the enterprise.
- Transition to a pure cloud ERP solution by exploring the requirements and mapping earlier customizations to new or promised functionality. Assess the impact of integrations and processes for automation capabilities. Design the system to address key challenges and for digital feedback loops.
- Incorporate digital feedback loops to deliver deep insights. Insights enable next-best actions along the data-to-decision continuum. Feedback loops mitigate risk, ensure compliance, optimize operations, increase revenue, improve user- experience, inform product offerings, and enable brand promise.
- Democratize decisions throughout the enterprise to enhance customer experiences. Renewing the existing transactional systems from ERP and orchestrating new user experiences can empower democratized decisions across all stakeholders.
- Deliver personalization at scale with automation and AI. As enterprises expand capabilities across their data-driven digital networks, they can deliver mass personalization at scale. Enterprises can use the AI and ML tools to automate personalization to build autonomous and self-learning systems.
Enterprises can orchestrate end-to-end processes and automate the more complex processes to bring their employees, customers, and suppliers closer. Oracle Cloud ERP has in-built AI, deep learning, and natural language processing. It can generate auto-matching, mapping, best next actions in the workflow, identify patterns on streaming data, orchestrate RPA bots, and enable intelligent decisions with its integration and process automation layers