January 24th, 2019

Cloud ERP Updates: Oracle Partner Cast

Oracle hosted an Oracle Partner Network (OPN) webcast yesterday with some exciting updates to Oracle Cloud ERP and EPM.

Market Highlights include:

• ERP SaaS market will reach $23.8 Billion in 2018 for 17% CAGR since 2013 (IDC); ERP includes accounting & finance, procurement, supply chain, and HR
• Accounting and Finance was ~25% of the ERP market in 2016 (BCC Research)
• Procurement Market (full Source-to-Pay) is growing rapidly with total revenues of $7.9 Billion in 2017 for 13% CAGR (Forrester)
• Mid-size companies are expected to make up the majority of cloud customers
• Oracle has around 10,000 E-Business Suite customers, of wich over half are mid-size
• Organizations are reducing their TCO by over 50% and increasing their ROI by 3.2 when moving to Oracle Cloud

Industry Trends & Challenges you should know:

• 81% say staying current on technology is a top benefit of ERP Cloud (ERP Trends)
• Average age of ERP systems nearing 20 years (ERP Trends)
• Average lifespan of an ERP system is from 10-20 years (e2bteknologies)
• ERP performing more routine, core processing typically done in Excel (CIO.com)
• Compliance with SOX, GDPR, etc. becoming more critical for ERP (CIO.com)

Oracle Cloud ERP Benefits:

• Simultaneously access real-time financial data & automate processes
• Improve cash inflows and manage cash positions across the enterprise
• Reduce transaction processing costs, data entry errors, and delays
• Comply with global accounting standards, legislative, & industry requirements
• Modernize, simplify, and accelerate project planning and execution
• Improve collaboration and productivity among project teams and managers
• Realize maximum savings and simplify purchasing with self-service procurement
• Standardize and streamline sourcing negotiations and contract creation
• Ensure contract compliance by monitoring for standard language deviations

Want an introduction to Oracle Cloud ERP? Join our next webinar, “Streamline & Simplify: An Intro to Oracle Cloud Financials” on February 19th. Register Here.

Industry Knowledge, Uncategorized accounting, Cloud EPM, Cloud ERP, ERP, ERP Market, Finance, Industry Update, Oracle Cloud, Oracle Cloud EPM, Oracle Cloud ERP, Oracle Cloud Financials, procurement

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