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May 17, 2017
3 Best Practices: Finance in the cloud are you ready?
Frederic Portal, Ataway Director of Alliance and Strategy
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Today many of the organization are looking to cloud solution to streamline business process, reduce cost and support their digital transformation. The acquisition of a new Finance solution is not a decision that’s made overnight.
Oracle just released an ebook called: Modern Finance in the Digital Age, that provide a lot of value when it comes to the decision of a cloud application. The ebook share Return on Investment (ROI) Best Practices in a modern digital world.

Here are some highlights:

Best Practice number# 1 Use predictive analytics instead of lagging indicators to rethink ROI
Forward-looking view, using predictive analytics to better understand what your enterprise or organization will look like in the future as a consequence of your investment in a cloud application or big-data tool. Traditional ROI metrics could be used as one of the ways that your organization should measure the impact of its digital technology initiatives.

SITA leverage predictive analytics, because they are helping CFO Colm O’Higgins understand that the P2P process can actually have a much more strategic impact on the business beyond just cost savings. “Purchasing will be involved a lot more in terms of strategic spend,” O’Higgins declares. “That is critical in terms of where we are seeing the business 18 months out, when my teams are sitting and talking with suppliers. It’s not just a historical spend analysis but its bringing future spend expectations to the negotiating table.”

Best Practice number # 2 Consider a more focused ROI analysis
Loren Mahon, VP Finance Systems, CEO Office at Oracle said in that ebook, “More people are saying, let’s look at a specific application area or functional area or process area and measure the return in that very specific area with a very specific strategic outcome,”

With the cloud, the projects are smaller projects and therefore to some degree easier measures of return, because they’re more focused, faster.

 

Best Practice number # 3 Look at strategic outcomes
Based on Mahon’s research and FEI’s interviews with CFOs, strategic outcomes should be considered when evaluating the return on investment in digital technologies. For some CFOs, the need to modernize finance systems is so critical that ROI concerns are overshadowed by a more pressing mandate: the need to invest or face losing market share to a more nimble competitor.

 

Forward-looking CFOs understand these changing dynamics, and are moving quickly to create modern, technology-enabled finance organizations better equipped to support more agile, digitally. If you want to download the full report on “Modern Finance In The Digital Age”, you can go here

 

Interested in learning more about how you can take advantage of Oracle Cloud’s solutions or are you looking for some help on defining your Cloud strategy to support your digital transformation? The Ataway Cloud team is here to help you and make your digital transformation a success. Consider talking to one of our local Ataway offices. Ataway has worked on several Cloud activations and can help you. Consult with Ataway’s team of experts today to learn more or send us an email: experts@ataway.com .

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