Many companies are understandably cautious about investing in new technologies – particularly back-office systems that are critical to their operations. However, a new report from MIT Technology Review showed that after a decade of companies moving to Cloud applications, those that hesitate put themselves at greater risk than in the past. The old ways of staying current won’t be sufficient enough to compete with companies that are truly modernizing their operations and even creating new business models with Cloud applications. Oracle Vice Chairman Jeff Henley said that reluctant company leaders and boards must be sold on the strategic advantages of Cloud applications, not just on their cost benefits. Three companies – AirAsia, Sportable Scoreboards, and TrueBlue – leveraged Oracle Cloud applications (HCM, ERP, EPM) to future-proof operations.

No industry is immune from the current pace of technological change. While this acceleration presents radical opportunities for growth, analytics, and connectivity, it also brings real and pressing challenges to the adaptability of business organizations. At COLLABORATE 19, Chinam Kry, VP of Cloud Business Group at Oracle, shared with the Quest community how aligning HR and Finance through Cloud-based applications creates an agile, adaptable business response to navigate both the current business landscape and future innovation.

A recent Oracle blog talked through the reasons to tackle your ERP/EPM and HCM systems together to create an integrated Cloud solution. It starts with a scenario: Imagine that you’re getting a promotion to a management position, which would impact your purchasing authority, approval workflows, travel allowances, and pay structure. On top of that, you’re moving to North America to Europe, where your company operates under a different legal entity. How long will it take before your new role is reflected in your company’s Human Resources system, you start getting paid at your new rate, and your new team can start submitting expenses to your for approval?