By Mark Wilson on September 11th, 2017
Oracle recently released their 2017 Top 10 cloud predictions for the broader information technology space, so, what do they mean for Enterprise Performance Management (EPM)?
Let’s take a quick look back before we look forward.
In 2011, EPM in the Cloud was non-existent. Fast forward three years to 2014, Oracle released its first cloud product and early adopters started using it as a departmental solution. Integration was cumbersome but the benefits outweighed the effort. At the start of 2016, many companies recognized the flexibility and opportunity in the cloud and have moved core applications or are considering doing so. During the summer of 2016, we saw the introduction of more cloud products, including the enterprise version of Planning & Budgeting Cloud Service (ePBCS), which reduced the need for custom modifications inside plan types for Planning in the Cloud, Financial Consolidation and Close Cloud Service (FCCS), Profitability and Cost Management Cloud Service (PCMCS), and Account Reconciliation Cloud Service (ARCS), and we close the year seeing a continuing improvement with functionality and capabilities.
What does this mean?
EPM in the Cloud is maturing at a rapidly advancing pace. Increasingly, our clients are viewing the cloud as a cost-effective way to respond to rapidly changing market conditions. It offered efficiency-improvements, flexibility, agility, and better performance. The simplified interface made it easier to use and interact with the cloud solution. This and more is what led many companies to the cloud. The bottom line is if your EPM applications can’t keep up with your business objectives, the fastest path to success is moving to the cloud.
Now we’ll get to looking ahead.
Oracle is talking about what they see ahead for 2017 and they’ve made some bold predictions about how the cloud will impact business processes in 2017 and beyond.
In this Blog Series, we’ll take a closer look at some of Oracle’s predictions, including what they mean and how they might affect your business.