With the rapid adoption of Cloud ERP & Planning across the market place, it is having a profound impact on competition and financial performance. Organizations using Cloud ERP to plan across the enterprise are setting the pace of change and becoming fierce competitors.
A short time ago, large organizations used their complex computing systems as a weapon to beat the competition. Those days are gone with the proliferation of cloud applications leveling the playing field. Each quarter, companies of all sizes using cloud applications, are performing better, improving speed to market, innovating quicker and are financially smarter.
The question is no longer "Should I move my planning to the cloud," but rather "When do we move our planning in the cloud?"
Many organizations' planning approach is trapped in technology and processes which is leading them to be less competitive. Does your organization experience siloed planning? If yes, then your organization may be experiencing one or more of these factors:
Does this seem familiar to you? If yes, then it is time to move your planning to the cloud.
Project financial planning is fundamental to achieving financial goals. Connected planning is able to model all project costs and financial returns on one platform. This provides the capability to continuously monitor actual project costs vs. forecasts so timely decisions are made. At the same time looking at the entire projects portfolio simultaneously, provides the views needed to make appropriate adjustments across multiple initiatives.
Workforce planning continues to be a vital component of operations. Connected planning in the cloud enables collaboration in real time across finance, HR, and the hiring department. This capability provides decision makers with the understanding of how workforce decisions affect cost. Better visibility leads to planning practices that produces improved hiring decisions. And with the fierce competition for labor, workforce planning helps to make adjustments based on workforce trends.
Scenario planning empowers your organization be proactive. With the plethora of data and constant competitive pressure, it is vital for success to know your options. And when you are faced with an unanticipated massive change (i.e., COVID-19, weather events, supply chain shortages, etc.) you have the tools ready to model different strategies so you can proactively respond to the threat. Scenario planning fosters collaboration across departments to model multiple and diverse scenarios. It gives the organization the ability to blend departmental scenarios into a single company strategy. By running simulations the organization begins to understand the probabilities and gain certainty in outcomes.
Sales and marketing planning align plans across finance, sales, and marketing. This provides a full picture of sales and marketing performance leading to insights into the revenue forecasts. These insights allows for adjustment in sales and marketing programs for improved ROI and increased forecast accuracy.
Integrated business planning and execution is possible with connected planning. Organizations connect plans across finance, operations, and sales providing a full view of the combined plans. Aligning integrated planning with execution reduces decision latency and enhances global visibility into organizational plans.
To learn more about how cloud connected planning helps companies compete effectively, click to talk with one of Drivestream's experts. Interested in learning how companies have used Oracle Cloud Applications to deliver connected planning? Download their ebook "Five ways to connect and improve planning across your enterprise."