Happy New Year and welcome to another year with the Oracle Apps blog! The beginning of a new year is a time of resolutions and I’m sure this year is no exception. If you are a CFO, you might have resolved to finalize the approach you’ll use to move your confidential finance and operations functions to the cloud. On the other hand, you might be unsure about whether you and your company are ready to take that leap of faith into the new technology. You might be wondering whether the cloud technology is able to handle your security requirements, your access rules, your business complexities, and your specific needs for cost reduction. Is it really ready?
Well, Steve Miranda, EVP, Oracle Applications Development, has an opinion to share with you. In its 2013 Looking Forward issue, Financial Executive magazine
covers an article by Steve entitled “ERP in the Cloud: CFOs See the
Value of Running Enterprise Applications as a Service.”
In this piece, Steve states the following: “The skepticism and uncertainty finance executives felt at the beginning of this decade about moving their mission-critical enterprise systems to the cloud is fading, replaced with a growing enthusiasm for the financial flexibility and freedom that comes from using the cloud’s modular, pay-as-you-go approach to accessing the latest technology innovations.”
Steve goes on to say: “Some of the reasons CFOs cite in favor of cloud-based ERP services include the resource allocation flexibility that comes with avoiding large upfront investments in the early phases of an ERP deployment, the ability to avoid fixed capital investments during periods of corporate or economic uncertainty and timely access to the latest software capabilities.
The fact that traditionally risk-averse CFOs are open to moving their mission-critical ERP systems into the cloud should be a clear indication to all companies that ERP cloud services are fast becoming the go-to strategy for finance executives looking to access the latest technologies quickly and cost-effectively to support their corporate objectives.”
In the article, Steve talks about Oracle ERP customers, such as Carrie Dolan, Chief Financial Officer of Lending Club and Dan Knutson, Chief Financial Officer of Land O’ Lakes, making cloud and managed cloud choices.
Read more of Steve’s opinion and Oracle customers’ perspective here.