Your Complete Guide To Modern ERP - Mint
Your Complete Guide toModern ERPA handbook for today’s innovativebusiness leadersHandbooks for the Modern Enterprise Volume 1 Third Edition
Table of Contents03How Companies Deploy Modern ERP SystemsOverviewAs you plan your modern ERP strategy, you should pulltogether a deployment team that includes potential partners aswell as vendors. page 09Research shows that legacy ERP 1.0 systems were not designedfor usability and insight. More than three quarters of businessleaders say their current ERP system doesn’t. page 030401When you are finished crafting a strategic and comprehensiveERP modernization strategy, with carefully documented KPIs, youhave the baseline for assessing your results. page 12There is no argument that ERP 1.0 systems deliver significanthorsepower to run your organization, set customer experiences,and directly impact how you fare. page 0505The Clear Imperative to Modernize to ERP 2.0Now Is the Right Time to Modernize Your ERP02Characteristics of Today’s Modern ERPNo matter which inflection point represents your organization,there are characteristics you must consider when you undertakeERP modernization. page 07Your Complete Guide to Modern ERPAssessing Cloud ERP Results After DeploymentWhy Oracle Is Your Best Choice for Modern ERP CloudOracle delivers a single ERP cloud that is enterprise-grade andready to grow your business today. page 13SummaryYour Journey to Oracle Cloud Starts TodayOracle’s global sales team and partners are ready to get youstarted on your journey to ERP 2.0—the modern ERP cloud thatis rapidly becoming the foundation for business. page 142
The Clear Imperative forCloud ApplicationsResearch shows that legacy ERP 1.0 systems were notdesigned for usability and insight. More than three quartersof business leaders say their current ERP system doesn’tmeet their requirements, let alone future plans. These systemslack modern best-practice capabilities needed to competeand grow. To enable today’s data-driven organization, thevery foundation from which you are operating needs to bere-established; it needs to be “modernized.”Oracle’s goal is to help you navigate your own journeyto modernization by sharing the knowledge we’ve gainedworking with many thousands of customers using bothlegacy and modern ERP systems. To that end, we’ve craftedthis handbook outlining the fundamental characteristics thatdefine modern ERP.Did you know?90%of large global companies willmainstream cloud computing inthree years60%of productivity boostingopportunities during the nextdecade will be cloud based40%of clouds serving themanufacturing, oil and gas, andutilities industries will includedata from operational assetsSource: “Don’t Get Left Behind: The Business Risk and Cost of TechnologyObsolescence,” MIT Technology Review Insights, 2019.Your Complete Guide to Modern ERP3
From ERP 1.0 to ERP 2.0The rapid evolution of the cloud has dramatically altered the ERPlandscape for companies of all sizes. Coupled with mobile platforms,our work anywhere/anytime culture requires modern cloud-basedERP systems not tied to yesterday’s back office, on-premiseenvironments. This next generation of ERP, or “ERP 2.0,” buildsupon the formidable history of “ERP 1.0,” but eliminates the needfor multi-year projects and heavy customization.ERP 2.0 delivers solutions rapidly through the cloud so organizationscan respond quickly to volatile markets and industry disruption,while supporting next-generation employees with security, insightand agility.1960s1970s1980sMainframecomputingMid rangecomputingClient-server MRPMRP IIMaterialRequirementsPlanningYour Complete Guide to Modern ERP1990sERP 1.0 On-premiseenterprise resource planningdeployment with extensivecustomization of businessprocessesBusiness-critical collaboration and decision making dependsupon both enterprise data access and analysis, and modern ERPsystems that deliver the infrastructure and tools required to do the job.The world is far more complex and competitive than whenERP 1.0 first arrived on in-house mainframes. Finance andtechnology are inexorably linked, as growing volumes of datadrive not just operations and reporting, but critical businessdecisions. Aligning ERP 2.0 with a company’s people andproducts delivers digitally enabled business agility, whichtranslates into greater operational and sales success.2000s2010sService orientedarchitectureCloud, mobilesocial, analyticsERP 1.0 Core ERP 1.0extended with supply chain,expense management andmore, making implementationslarger and more costlyERP 2.0 splits off functionslike HCM and offers infrastructurefor cloud solutions to co-existDigital technologies fundamentallychange how users engage withapplications4
Chapter 1Now Is the Right Time toModernize Your ERPThere is no argument that legacy ERP 1.0 systems deliver significanthorsepower to run your organization, set customer experiences, anddirectly impact how you fare against competitors. However, you needto consider the technological and generational changes taking placein your business and how your current on-premise environment couldbe holding you back. Regardless of business size, there are three keyinflection points where the need to modernize becomes apparent;most organizations are experiencing at least one point today:01 Operational efficiency—Does your current ERPsupport your operational goals? Consider if you’ve acquireda company using a different ERP; your legacy ERP is in needof an upgrade; you’re launching a subsidiary; or you’re movingto a shared-services model. If you are faced with any of thesescenarios, achieving operational efficiency has become apriority; therefore, ERP modernization needs to be part ofthe conversation.Your Complete Guide to Modern ERP02 Digital transformation—Today’s users demand alevel of collaboration and ease not previously expected fromon-premise solutions. In addition, their expectations for ERPsystems reflect the ubiquity of digital technology in their lives.They also require a single source of truth that cascades alloperational functions, real-time analytics with customizedrole-based dashboards, plus mobile access, with socialcollaboration—all with ease and speed in upgrades.03 Growth and confidence— Growth is often synonymouswith global expansion, increasing financial complexity withdistinct accounting, reporting and compliance requirements.Add in acquisitions, divestitures, new markets, customer growthor IPO preparations, and the need to model these opportunitiesand their impacts requires having the right systems withprocesses in place to support increased regulatory scrutiny.Whichever inflection point describes your organization, youneed a modernization strategy that fits your needs, culture, budget,and timeline. Acknowledging where your current ERP does notsupport your business objectives is the first step in your ERPmodernization journey.5
Top 10 signs it is time for05 ERP maintenance costs increasingModern ERP 2.0System fees and services costs increase annuallyYou need modern ERP when one or more of theseconditions are present:Growth in disconnected systems and enterprise data giveconflicting answers to key questions06 More non-integrated systems and disparate data01 ERP upgrade required07 Rapid and global company growthYour on-premise system requires an expensive project as it agespast support dates and your competitors deploy cloud solutionsInternational expansion, mergers and acquisitions, and coremarket growth are hampered by your on-premise ERP02 Usability dissatisfaction increases08 New compliance requirementsNext gen employees complain about usability and ask why theirERP isn’t like smartphone appsIncreasing financial and compliance requirements impactyour enterprise03 Reporting challenges increase09 Business demands increaseManagement reporting is too cumbersome because ofERP 1.0 limitationsYour business cannot keep up with increasing demands04 ERP requires new hardware10 Time for an IPOPhysical ERP 1.0 infrastructure is past due for an expensivecapital replacementYou are ready for a public offering which mandates stringentfinancial information and controlsYour Complete Guide to Modern ERP6
Chapter 2Characteristics of Today’sModern ERPNo matter which inflection point represents your organization, there arekey components of a modern ERP that should address the top concernsmost companies have when considering a move to the cloud. There areseven components that fall into two categories—modern platformparameters and modern business application design. Together, sevencomponents define the standards of a modern ERP. To establish afoundation for agility and growth, these platform components shouldbe considered:01 Security—Your business data is your business. A multi-layerapproach to securing data at every layer of the stack is paramountfor maximum data protection. Using a secure data isolationarchitecture in the cloud reduces risk and enables faster data accessand processing.02 Integration— ERP cloud solutions must seamlessly connect yourbusiness, people and processes. Your solution must alsoconnect to other clouds, to your on-premise systems, and to third-partysolutions. Consider whether a solution uses a common frameworkbased on industry standards to ensure compatibility and scalability.Your Complete Guide to Modern ERP03 Personalization (not customization)—With ERP 1.0,non-standard or customer-specific business practices resultedin customizations increasing downstream maintenance andupgrade challenges. Cloud-based solutions built on a standardsbased platform offer personalization and configuration withinthe application resulting in “upgrade safe” enhancements. If youron-premise customizations fall into areas such as workflows,integrations and reporting, there is a good chance yourrequirements will be addressed by cloud-based solutions.In addition, modern cloud applications should scale with your businessand support the latest digital technologies to meet the needs of yourbusiness, so should exhibit the following design components:04 Completeness— Built-in best practices permitstandardization, which lowers costs and increases productivity.Even if your cloud transition is incremental, access to a completesuite of integrated best practice business processes deliversenterprise standardization. Consider whether a cloud ERPvendor supports a full suite of applications or if integration toother cloud solutions will be required. If you initially select ahybrid cloud/on-premise model—a common operationaloption—who ensures integrations between on-premiseand cloud applications?7
05 Globalization—Entering emerging markets andnew geographies creates complexity by requiring any ERPcloud solution to support multiple subsidiaries and countrylocalizations. Often, local data centers must comply with dataresidency requirements. The right cloud ERP must enablesharing of enterprise information seamlessly across operations,business units and headquarters.06 Insight-driven analysis—An ERP cloud solution musthave secure, real-time data access at its financials core toprovide a single source of truth across roles, reports andanalysis. This ensures timely delivery of accurate KPIs tofront-line managers, and dramatically simplifies a processonce dependent on a period close or a separate datawarehouse extract.07 Digital capabilities— For the modern back office, digitaltechnologies must be integrated into business processes andtransactions to create a seamless, productive and intuitiveexperience. The user experience needs to be engaging andinclude mobile accessibility for on-the-go employees, nativesocial integration for secure in-context collaboration, and outof-the-box optical character recognition for invoice imaging.On-Premise ERP 1.0 vsCloud ERP 2.0Did you know?The top five reasons for moving from ERP 1.0 to ERP 2.0:45%38%33%33%24%Avoid infrastructureinvestmentLower TCOAvoid on-premiseupgrade projectRapid access to newERP functionalityOne source of datawith a global viewSources: “The End of Technology Obsolescence,” MIT Technology ReviewInsights, 2019, and “ERP Trends,” Oracle, 2018.Your Complete Guide to Modern ERP8
Chapter 303 Get strong executive sponsorship— Regardless ofHow Companies DeployModern ERP Systemscompany size, executive sponsorship is critical. You needcontinuous executive support throughout your entireproject. Coupled with ongoing employee communication,leadership commitment to your new cloud ERP system willhelp drive success.As you plan your modern ERP strategy, you should pull together adeployment team that includes potential implementation partnersas well as cloud providers. Consider the following elements of amodernization strategy, which apply regardless of technology andmarket size:04 Select an implementation approach aligned tothe organization—A journey to cloud ERP will vary by01 Clearly define project goals— Establish KPIs that measurebusiness benefits such as productivity, financial close speed, andinfrastructure costs. Measurable items help you to build projectconsensus and approval, keep track of your strategy build, andprovide a baseline to assess success at milestones.customer, and does not require deploying all cloudERP applications at once. Many companies choose toincrementally adopt high-value cloud services that will existalongside their on-premise solutions, resulting in a hybridenvironment. Other companies start a modernizationjourney with core ERP applications, building towards acomplete end-to-end transformation.02 Document processes and inventory systems— Mapyour complete IT infrastructure, including internal and thirdparty solutions and their integration points, plus redundantsystems. Include your organizational structure to understandroles in conjunction with data ownership, management and use.It’s also critical to define a single source of truth before startingyour project.Your Complete Guide to Modern ERPHow to Cloud—5 Step ERPSuccess GuideLearn More9
05 Embrace standard best practices built intothe application—Modern best practices are built into cloudapplications, so you can replace legacy software along withoutdated processes and approaches. ERP 2.0 delivers more than80 percent of common business processes you need with builtin standardization—the perfect place to start your project.06 Study reporting and analytics early—With cloudERP, users understand your business in real time. Advancedmultidimensional analysis and data visualization providinginsights quickly without a data warehouse. Define reporting andanalytics early in the project plan. Once live, you can quicklygenerate meaningful reports.07 Involve users and process owners from the start—End users of ERP systems determine the success of your project.Throughout your implementation, include demonstrations andtests at regular intervals.With your strategy and roadmap in place, solution choices madeand a partner that supports your vision, you are ready toexecute. Now it is time to plan a party really. Moving yourorganization to a cloud ERP, even using small, incremental steps,will fundamentally change the way your people work. Celebrate thelaunch to nurture everyone’s commitment and celebrate again whenmilestones are reached.Your Complete Guide to Modern ERPEmerging technologiesfurther drive Modern ERPFaster revenue growth58%FasterIntelligent automation74%AgreeFull automation nancial close process83%Predictat companies that have deployed emergingtechnologies (over a 36 month period vs.those that have not deployed)is the key to regulatory compliance(within the next ve years)Source: “Emerging Technologies – The Competitive Edge for Finance and Operations.How Market Leaders are Outpacing Change with Cloud-Driven Innovation.”Enterprise Strategy Group (ESG), 2020. N 700 global respondents.10
On-Premise ERP 1.0 vsModern Cloud ERP 2.0Database for ERP softwareOn-premise ERP systems need an on-premisesdatabase which often requires staff andcontractors for deploymentComparing financial models and costs of ownershipBusiness financial modelCapital expenses for on-premise ERP systemsdivert funds from important business growthneeds and often incur taxesERP 1.0ERP n-premise software requires up-front purchaseand taxes; cloud ERP leverages operational expensesmonth to month All includedNo additionalor hidden costs Your Complete Guide to Modern ERP System upgradesOn-premise ERP system upgrade projects cost 100K to over 1m per project every 3 to 5 yearsfor software and hardware All includedNo additionalor hidden costsSystem security Other important factorsIT resources for ERPdeployment and maintenanceRequired for customizations, integrations,reporting, maintenance, upgrades, andpartner/subcontractorHardware maintenanceOn-premise ERP hardware often requiresannual maintenance fees or contracts, high-costspace, utilities, and staffOn-premise ERP requires annual maintenancefees and staff to keep the ERP database secure,current, and optimizedAll on-premise ERP systems have large costsfor disaster and recovery plans, infrastructure,services, staff, and redundancy Hardware for ERP softwareOn-premise ERP requires additional capitalexpenses; hardware typically needs physicalupgrade every 3 to 5 years System disaster and recoveryERP software maintenanceOn-premise ERP requires annual maintenancefees to be current with security fixes, criticalpatches, and updatesERP 2.0Database maintenanceAll on-premise ERP systems have additionalcosts for security software and monitoringwith staff to monitor and maintainERP softwareERP 1.0Deployment speedLength of time for project planning and developmentMinimalManyDirect, subcontractor, For businessand partner resources optimization anduser assistance1 to 2 yearsor more.3 to 6 months11
Chapter 4Assessing Cloud ERPResults after DeploymentWhen you are finished crafting a strategic and comprehensive ERPmodernization strategy, with carefully documented KPIs, you have thebaseline for assessing your results; you simply need to look back inorder to look ahead.When establishing KPIs, be realistic about how you will measurevalue. Document your “status quo” metrics before you kick off theimplementation, and set reasonable intervals to assess results. Basedon those assessments, you can configure features to adjust to yourbusiness goals and needs—something that is much easier to do withcloud applications.In addition, it is important to establish baselines for priorities usinga maturity model mapped to your organization by assessing andquantifying project goals. For example—a goal to reduce accountreceivables through rapid, automated invoicing with faster close andreporting processes, plus reduced IT costs. But a comprehensiveassessment is not just about technology. People, governance, processand strategy are also key factors for success.Your Complete Guide to Modern ERPFor meaningful results, incorporate holistic measures related tothese factors into your KPIs connected back to your original businesscase. Whatever your path, it’s important to craft a business case tojustify your approach. Leverage resources that help you understandcloud technologies, the positive impact they can deliver, and thefinancial advantages of modern cloud ERP 2.0.Non-technology factorsdrive successFour factors besides technology directly influence thesuccess of every cloud ERP project.People— Consensus shapes clear customer strategyProcess— Updated processes deliver desired resultsGovernance— Proactive guidance lowers risk and costStrategy— Proactive involvement drives adoption12
Chapter 5Why Oracle Is Your BestChoice for Modern ERP CloudOracle delivers a single ERP cloud that is enterprise-grade and readyto grow your business today. It’s built upon a robust union of platform,applications and approach using financial, procurement, projectportfolio, and enterprise performance management.Our platform and applications include:01 Modern standards-based platform— Oracle leverages thisfundamental, up-front design principle to help deliver:Security and scalabilityIntegration and connectivity across enterprise applicationsOne unified business systemEmerging technologies including AI, blockchain, and IoTGeneration 2 cloud infrastructure02 Modern best practice-based applications—ERP cloud applications combine modern technology, bestpractices and connectivity with knowledge from decadesof experience.21st century global accountingEmbedded analytics and reportingOne suite for a complete solutionFuture-proof enterprise applicationsIndustry-focused solutions03 Modern innovative approach—There is economicbenefit when you modernize ERP in the cloud. Oracle and itspartners offer tools to determine the financial advantages of acloud ERP project to ensure a successful implementation.Enterprise benefits calculatorFinance self-assessmentSoar to the cloud with Oracle ConsultingCloud Marketplace partner catalogIn fact, Oracle ERP Cloud can offer substantial savings in an operatingexpense rather than capital expense model.Your Complete Guide to Modern ERP13
Your Journey to Oracle CloudStarts TodayEvery organization can leverage the Oracle Cloud. Our sales teamsand partners will get you started on your journey to modern cloud thatis the foundation for growth and success. And if you’re alreadyan Oracle on-premise applications customer, consider Oracle’sunique Customer 2 Cloud program.Discover Oracle ERP CloudExperience Cloud DemosOne complete SaaS solutionwith comprehensive security,scalable deployment and highperformance for:ERP SCM HCM EPM CXTake a Guided Product Quick TourCustomer 2 Cloud*Request a Live DemoDelivered by one experienced andinnovative global cloud vendorChat with Oracle SalesCall Oracle SalesLearn About Industry Capabilities*For Oracle JD Edwards, PeopleSoft and E-Business Suite ERP CustomersYour Complete Guide to Modern ERP14
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Modern ERP No matter which inflection point represents your organization, there are key components of a modern ERP that should address the top concerns most companies have when considering a move to the cloud. There are seven components that fall into two categories—modern platform parameters and modern b
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