JP Saunders, Vice President of Business Value Consulting at Oracle, wrote about results from recent HCM Cloud and ERP Cloud benchmark reports from the Oracle Value Realization Program.
As organizations embark on their Cloud journey, or are well underway and looking to expand, they need to develop a deeper understanding of the value that they have achieved or the potential value that they could derive from their Cloud investments. That’s where Oracle Cloud benchmarks come into play.
Questions to Measure Your Success
Saunders laid out a few questions to ask yourself to help measure your success:
- Is your business taking the right steps on its journey to the Cloud to mitigate risk and maximize ROI?
- Are you achieving the desired benefit from your Oracle Cloud investments?
- How do your investments stack up to other businesses in your industry?
- How should you be measuring your investments for success?
- What are the right next investments to achieve your goal?
The Oracle Value Realization Program
Whether you are seeking to transform your customer experience, modernize your back office, or just leverage the agility of the Cloud to connect disparate data, every step in your journey to the Cloud requires relevant and insightful business justifications for change that can effectively align your organization around the right plan for success.
The Oracle Value Realization Program is designed to help Oracle Cloud customers understand realized value and achieve the full potential value from Cloud investments. This program aims to help customers achieve the following:
- Increase the likelihood of Cloud adoption and success
- Identify areas to improve and achieve full potential
- Promote success amongst organizations and key stakeholders
- Quantify program value to drive adoption and consumption
- Communicate in a language that resonates with stakeholders
The Oracle Value Realization Program regularly works with customers to understand the value of their implementation and then benchmark against their results. Two of the latest benchmark reports from the program revolved around Oracle HCM Cloud and Oracle ERP Cloud.
Oracle Cloud Benchmark Reports
The Oracle HCM Cloud and Oracle ERP Cloud benchmark reports that the Oracle Value Realization Program put together showed examples of significant improvements that can easily be achieved. Some results from the benchmark reports include:
- One Oracle customer targeted the closing process and was able to quantify the reduction in time to close from 13 to 7 days by using Oracle ERP Cloud. This is a 46 percent faster closing process than before.
- Another Oracle customer reduced time to run payroll from four days to four hours with Oracle HCM Cloud. This equates to 68 percent faster payroll processing.
- A third Oracle customer saw a reduction in hiring time from four weeks to three weeks with Oracle HCM Cloud. This equates to a 25 percent faster time-to-hire.
For more information about the results from the HCM Cloud and ERP Cloud benchmark reports, check out the Oracle blog attached below.
For more Oracle HCM Cloud resources, case studies, best practices, etc., check out Quest’s Oracle HCM Cloud Content Center. There are resources and training available for all aspects of HCM Cloud, including payroll, analytics, recruiting, and more!
For more Oracle ERP Cloud resources, case studies, best practices, etc., check out Quest’s Oracle ERP Cloud Content Center. There are resources and training available for all aspects of ERP Cloud, including risk management, financials, extensions, and more!