By Admin / October 26, 2020
Evaluating the performance of an enterprise has moved on from statistics to insightful analytics that drive decisions. That means manual analysis of spreadsheets and book keeping is not effective anymore. If an enterprise wants to go agile, they must embrace end-to-end analytics of the enterprise data facet.
More than 94% of business professionals have confirmed the undeniable positive impact of enterprise grade analytics.
This is essential because rapid expansion comes attached with complexities and highly volatile market behavior. Analytics empower an enterprise to process large volumes of business data from a wide variety of sources, gain bird’s eye view and identify areas of immediate change. Thereby addressing real time issues and take quicker decisions will top the priority. If analytics was always a staple feature of the cloud, what’s new now?
It is the increased accountability of analytics to drive critical decision making across enterprise verticals. While you hunt for the best Oracle EPM services, here’s a quick run through the top trends in this industrial segment.
The need for better skills and competency with behavioural cost management
An evolving trend is that activist management accountants, those who are promoting progressive methods as described in the trends already mentioned, are encountering obstacles to get buy-in and acceptance of their ideas. They are realizing they need to improve their behavioural change management skills and capabilities.
Today’s primary barrier is no longer technical, such as “dirty data” and disparate data sources. The barrier is social, behavioral and cultural. There are many examples of this type obstacle, including people’s natural resistance to change; not wanting to be measured or held accountable; fear of knowing the truth (or of someone else knowing it); reluctance to share data or information; and “we don’t do that here.”
Bringing together EPM and ERP in the cloud
2019 was a landmark year for the SME sector that plunged at embracing cloud environments. Since the infrastructure management was always a huge hassle for the upcoming enterprises, cloud empowered them get in line with those leading from front. It is the fast adoption of cloud in the SME sector that is detaching traditional data centres. Previously, it was a hybrid model of on premise infrastructure and cloud which is transforming to cloud-only systems.
However, several other functions such as Finance and Logistics, cloud-only adoption was still a far-fetched vision as the legacy systems held large volumes of data. With increased emphasis on EPM, more ERP verticals will move to cloud for better sync. Not to miss, the conventional narrative of faster and cheaper ecosystem will also change.
Cloud-based solutions make it so small businesses don’t have to maintain their own systems, drastically reducing the need for in-house IT. This makes it possible for small companies with just one or two IT employees to take advantage of an ERP system they otherwise wouldn’t be able to afford to maintain.
However, large corporates especially those who are running Oracle EPM solutions have greater goals with cloud ERPs. Going forward, increased emphasis on ERP and EPM in cloud will drive substantial growths across the business facet. Of course, large companies also can reap the benefits of cloud-based ERP in a number of ways. In fact, the total cloud-based market is expected to reach $411 billion by 2020.
ERP Vendors Offer More Personalized Solutions
Essentially, buyers are realizing the benefits of relinquishing control over their systems, which fits right in with McCabe’s cloud prediction. Configurability might not give a company total control over every facet of their software, but this feature can provide companies with a specialized solution with very little effort. Again, this will largely reduce the need for extensive IT teams solely dedicated to managing an ERP solution.
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