Are you contemplating transforming your existing ERP software to cloud? Great, you’re on the right track! Most companies function on outdated ERP software applications or even excel spreadsheets and they find themselves in the soup due to technological inefficiencies. Especially, for midsized organizations, many ERP vendors today recommend applications on-premise. Eventually, the onus is on the organization to keep the software updated whenever an update is recommended by the software. However, expecting them to abandon their on-premise systems and migrating entirely to cloud on a whim isn’t the best course of action.
The cloud version comes with a myriad of benefits including reduced cost of ownership, hassle-free upgrades, guaranteed uptime, and simple configurability. However, one of the best ways to approach a seamless transition for midsized businesses is a hybrid deployment. Although, this approach does not provide a clean slate from legacy systems, these businesses can experience key benefits of a cloud solution.
If you have taken the leap to purchase a cloud ERP solution, there are some steps to be taken before, during, and after the software installation. In order to experience a successful migration experience, we have a checklist to ensure your company reaps significant business outcomes.
- Flexibility to incorporate newer updates
Unlike on-premise software applications, new-gen technologies like machine learning and artificial intelligence enhance Oracle Cloud’s capabilities that are devoid of periodic updates. With no deliberate inputs offered by the user, Oracle Cloud leverages these technologies to help employees have a better understanding of the reports generated in the ERP system.
- Hunting in-demand talent
As young talents are becoming more and more tech-savvy, companies can start relying on fresh talents to take care of these new-age technologies once implemented. Organizations that are staying the course and reluctant to experience newer technologies will always be devoid of top talents, regardless of experience.
- Deploying a hybrid solution
As discussed earlier, some midsized organizations might find it extremely difficult to deploy ERP Cloud immediately. In case of trouble migrating, integrating and augmenting your existing legacy applications with cloud is still not a bad choice. The hybrid approach can still complement and enhance processes that are cumbersome with existing systems. Although, your existing systems aren’t wiped off completely, businesses can experience cloud capabilities and the change in SaaS culture.
- Recognizing best-in-class tools
Even though, cloud applications reap significant business efficiencies than the existing legacy software, organizations must be wary of leveraging the best tools to gain a competitive edge. Oracle’s EPM Cloud is one such standalone application software that comes with all the cloud benefits to deliver a significant change in your business operations.
- Avoid third party vendors
The existing legacy ERP systems require multiple third party vendors to access your data to create reports and analytics while driving business intelligence. The cloud applications, on the other hand, creates much better business intelligence in reporting and analyzing data without the help of external vendors. Organizations will experience faster business operations and at the same time reduce costs on external vendors while reducing the risk of security breach.
- Evolve your systems
Unlike the ancient legacy software applications, Oracle EPM Cloud is developed with the core principle of understanding the mindset and requirements of the organization better by delivering outputs that are beyond their expectations.
- Robust security resources
Needless to say, Oracle EPM Cloud offers 24/7 assistance while providing large, full-time teams exclusively dedicated for your organization to proactively monitor and respond to security alerts and threats. Cloud solutions will provide you a concrete layer of security firewall unlike on-premise systems.
As the saying goes, forewarned is forearmed. The results from the cloud solution will be significant across departments in your company. Our advice would be to start small, get the taste of the cloud experience, and then accelerate harder to move all your legacy systems to cloud sooner than later.