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All You Need to Know About a Successful Oracle ERP Implementation

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Karon Carroll
All You Need to Know About a Successful Oracle ERP Implementation

Senior leaders such as VPs and CFOs are more inclined to utilizing cloud applications. A 2018 Oracle ERP Trends survey revealed they intend to run their ERP systems in the cloud by 2020. This begs the question, what is the cause behind this shift? The expense required to run on-site legacy applications has skyrocketed. At Collision 2018, Oracle CEO Mark Hurd said, “The bigger part of this movement to the cloud, which I think is an irresistible movement, is driven by the fact that customers can’t afford to keep spending the money they’re spending. They’ve got to go back to simple, go back to easy.”

Finance teams across many companies have begun the transition of moving to the cloud. On the other hand, there is a huge matter of end-to-end migration, where all finance processes and applications will have to be moved to the cloud.

But how and when does a company take the first step, and in which direction? This can be a particularly troubling question. In this piece, we look at the phases that explain how Oracle implementation is carried out successfully.

Step 1: Start by Planning

The first step is where the company will have to create and define the scope of the project, make a team, develop a project design, and launch the project’s communication strategy. It’s essential to know that finance and IT must work together as partners in the project. 73% of finance leaders believe that CFOs and CIOs working together on an ERP implementation project offers a greater chance of success.

Step 2: It’s Time to Implement

Once the planning phase is complete, the implementation can kick in. This phase includes five basic activities known as CIDER: configuration, integration, data, extensions, and reports. This consists of the majority of the workload of the project. However, with the help of Oracle resources, this workload can be lightened and laid down the foundations of a smooth transition.

Oracle Cloud solutions have the same data model and are built to operate in unison and harmony. For third-party systems though, Oracle Integration Cloud removes obstacles that stand between business applications with the help of machine learning.

Step 3: Checking for Accuracy and Completeness

After the project is implemented, the next step is to verify the accuracy and completeness of all the tasks against the requirements of the project. Companies will have to check for:

  • Data quality, conformity, cleanliness, concurrence, and correctness.
  • Archiving data that has not been moved and allowing read-only access to it.
  • Integrated workflows to ensure improved business performance.
  • Security of the data using CRUD (copy, read, update, and delete).
  • Roles and responsibilities to ensure titles are adequately laid out and implemented.

Once the project team has verified all aspects, the project is presented to business units, executives, and key stakeholders mentioned in the project plan to sign off. All business process owners need to be involved in this phase before the project can be signed-off on.

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Karon Carroll
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