From Strategy to Execution U.S. Business Process Success Stories

The disruption produced by the epidemic triggered behavioral changes that will persist even after the threat has passed. Shelter-in-place orders forced firms of all sizes and industries to rethink their operations, and for many, they accelerated an already necessary digital change. The "new normal" will continue to feature remote work, outmoded technology that requires an on-premise footprint, and extensive maintenance/support, and organizations are unlikely to be prepared for such a scenario. Cloud-based tools, on the other hand, provide the obvious benefits of virtual maintenance, updates, and enhancements while also providing users with a modern, consumer-based experience that we have all come to expect, particularly in our "work from home" world,

as well as critical access to data and dashboards to sustain and plan for the future



For most firms, going to the cloud is a matter of "when," not "if." According to a recent Baker Tilly survey, 20% of firms want to migrate to a new ERP cloud (SaaS) solution within the next 1-2 years, while 29% have already finished or began the process. The benefits have never been more obvious. Baker Tilly recently conducted a webinar titled "Manage by Exception through Data, Dashboards, and Oracle Cloud ERP." The panel, led by Brad Fisher, senior manager, enterprise solutions and services, and colleagues Ken Fleming, Ben Berlangieri, and Ron Nelson, discussed how leveraging a unified platform application like Oracle Cloud ERP can provide financial leaders with real-time visibility to the data analytics they need to manage by exception, avoid fiscal pitfalls, make intelligent business decisions, maintain financial resiliency, and grow market share — even during a pandemic.Why choose Oracle Cloud?Oracle Cloud enables your entire business to access real-time data from the same platform. For example, the systems used by your sales, human capital, finance, budgeting, forecasting, and supply chain teams can be consolidated under a single Oracle cloud platform. This not only minimizes the need for IT assistance across many platforms, but it also frees up your organization's time to focus on strategic initiatives. This streamlined strategy focuses on the entire organization across the enterprise, integrating data to enable organizations to plan appropriately, respond sensibly, and revolutionize how they react to internal changes.

In addition to operating more successfully



using the Oracle Cloud platform guides a company toward greater efficiency across common business processes informs best practices, and can result in lower IT integration costs. The Baker Tilly team highlighted key Oracle Cloud features:CFO dashboard: Historically, management has struggled with data management. Because of the amount of departments it must pass through, the necessary data is either unavailable or takes a long time to reach the C-level. Oracle's CFO dashboard gives you real-time, unified access to data. This "one-stop shop" offers many advantages, including:Data may be evaluated in real time without needing to be manually aggregated. The consolidated data can be used to focus on "what did we miss, why did we miss it, and how do we fix it?" rather than transferring data between platforms.These adjustments have another benefit: happier employees. Financial analysts, once known as "spreadsheet jockeys," are now equipped with advanced digital tools, allowing their roles to become more strategic and personally gratifying.Management has real-time access to financial information, including cash flow. This is especially useful during times of uncertainty, when firms may need to pivot fast in reaction to interruption to guarantee they can continue operating.Businesses can detect "off" data by continuously monitoring it in real time. Errors can be identified immediately, and issues can be addressed sooner than with more "traditional" databases.Drill-down capability: Oracle enables users to drill down into data in real time to determine what is and is not working. This capacity helps managers solve key questions, including:Should we use our financial sheet to facilitate M&A?Are we examining data on a frequent basis to find patterns of information that may have implications for the future?

Do we have any insight into industry trends that could assist us consolidate our suppliers?



Modeling and forecasting capabilities: Oracle Analytics Cloud (OAC) allows customers to combine numerous external data sets to assist businesses foresee future difficulties and trends. For example, a higher education institution could use a database including past application rates to forecast future application trends depending on a variety of programs being evaluated. The capacity to model and forecast is extremely valuable to management since OAC simplifies the usage of historical data and the system is flexible enough to allow users to use the data that is most relevant to their needs. OAC also enables users to perform scenario and sensitivity assessments, making it simple to determine "what happens to Y if we do X." OAC allows an organization's accounting function to create value by analyzing all relevant financial information in one location rather than interpreting data across several spreadsheets to calculate budgets.Organizations using current cloud-based tools are not just weathering uncertainty, but also responding to disruption with innovation and strategic thinking that can achieve long-term transformation outcomes. Baker Tilly personnel are ready to assist you with using and implementing a consolidated data platform such as Oracle Cloud ERP or Oracle Analytics Cloud. Contact our team if you want to learn more about this issue or how we can help.

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