Enterprise resource planning (ERP) systems emerged in the 1990s. Even though they don’t do much in the way of planning, the systems provide companies a means of centralizing and consolidating transaction data collection (such as purchase orders, inventory movements and depreciation), automating the management of processes, and handling the bookkeeping and financial record keeping for these transactions and related processes. ERP systems are an indispensable piece of IT infrastructure in today’s enterprises. Alas, they also are inherently flawed. But perhaps not for much longer.
Topics: Mobile, SAP, Social Media, ERP, Operational Performance Management (OPM), Analytics, Business Collaboration, Cloud Computing, Oracle, Business Performance Management (BPM), CFO, Infor, Supply Chain Performance Management (SCPM), Workday, Social, FPM, Intacct
There weren’t any headlines (or even many tweets) about Oracle Fusion Financials emanating from this year’s Oracle OpenWorld (#OOW12) conference. Maybe that’s by design, because it’s not in Oracle’s best interest to kick up a lot of dust about ERP migration. The financial applications software market is mature, and market share leaders such as Oracle have less interest in getting customers to upgrade than they did a decade ago. For a software vendor with a large installed base, cashing rich maintenance checks is more profitable than selling new software, and arguably is as dependable a source of revenue as software-as-a-service (SaaS) contracts. Companies, and especially CFOs and controllers, see replacing ERP systems akin to a root canal procedure: expensive and painful and best put off as long as possible. In North America (and to a much more limited extent in Europe) a major upgrade of a company’s current ERP software usually means it’s time to evaluate alternatives. For the incumbent, any time there’s a major upgrade there’s the potential to lose a customer.
Topics: Performance Management, ERP, Office of Finance, financial, Cloud Computing, Oracle, Business Performance Management (BPM), Financial Performance Management (FPM), Workday, JD Edwards, PeopleSoft
I recently got an update from Workday that focused mostly on its Financials software. This part of the company’s business management suite has received less development attention than the HR aspects since the company’s founding in 2005. The bulk of Workday’s development investment has aimed at making its human capital management applications an industry leader and adding related capabilities such as payroll. It’s hard to argue against this strategy, if only because Workday is the spiritual offshoot of PeopleSoft; founded the company after Oracle’s hostile takeover of PeopleSoft, which he also founded. This pedigree gave the new company an advantage with workforce management software buyers. Moreover, adoption of cloud-based ERP has lagged far behind that of other cloud-based applications such as sales or workforce management, especially in the larger companies that have been Workday’s target market.
Topics: ERP, Operational Performance Management (OPM), expense management, financial, PSA, Analytics, Business Analytics, Business Mobility, Cloud Computing, Oracle, Workforce Performance, Business Performance Management (BPM), Financial Performance Management (FPM), Infor, Tidemark, Workday, Workforce Performance Management (WPM), Professional Services, Project Management
My colleague Mark Smith and I recently chatted with executives of Tidemark, a company in the early stages of providing business analytics for decision-makers. It has a roster of experienced executive talent and solid financial backing. There’s a strategic link with Workday that reflects a common background at the operational and investor levels. As it gets rolling, Tidemark is targeting large and very companies as customers for its cloud-based system for analyzing data. It can automate alerts and enhance operating visibility, collaboratively assess the potential impacts of decisions and support the process of implementing those decisions.
Topics: Big Data, Data Warehousing, Master Data Management, Performance Management, Planning, Predictive Analytics, GRC, Operational Performance Management (OPM), Budgeting, Risk Analytics, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Cloud Computing, Data Governance, Data Integration, In-Memory Computing, Information Management, Mobility, Business Performance Management (BPM), Customer Performance Management (CPM), Financial Performance Management (FPM), Risk, Sales Performance Management (SPM), Workday, Workforce Performance Management (WPM), Financial Performance Management, Integrated Business Planning, Strata+Hadoop