How Finance is Adopting Analytics, and Reacting to Changes in the Marketplace
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Emtec Finance and Technology Summit Presentation: Keynote with Jack Berkowitz Vice President, Product Management, Business Analytics, Oracle Corporation
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How Finance is Adopting Analytics, and Reacting to Changes in the Marketplace
- 1. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | How Finance is Adopting Analytics, and Reacting to Changes in the Marketplace Jack Berkowitz Vice President Product Management Business Analytics Oracle Corporation 1
- 2. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | 2 Digital Disruption
- 3. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | "By 2018, one third of the top 20 market share leaders will be significantly impacted by new competitors that use digital disruption to create new services and business models.” - IDC Predictions 2014
- 4. Vertical capabilities and best practices could typically reduce initial consulting costs by 65 percent while accelerating the time to value by 57 percent - Nucleus Research Vertical Solutions drive greater Value in Analytics
- 5. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Creating Value from New Digital Technologies Social Business $29+ Billion in social media revenue by 2015 Analytics 59+ Billion in Analytics revenue by 2018 Cloud Services $200+ Billion in cloud services revenue by 2015 Mobile $1+ Trillion in mobile ecommerce revenue by 2017 Powering Growth and Innovation
- 6. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Cloud Services
- 7. Question to Audience #1 Is your company planning to move to Cloud based services in Finance or across other areas of the business? If so, is your Application live?
- 8. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | Speed Trumps Functionality
- 9. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Finance Sees Value of Cloud Computing Source: Oracle 2014 Top Trends Research
- 10. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | The Most Complete Cloud Applications (SaaS) Platform (PaaS) Infrastructure (IaaS) Data (DaaS) Private Cloud Public Cloud Managed Cloud Deployment choices
- 11. • Embedded into every business process • What happened, what’s happening right now, and what will happen next • Strategic , operational, real- time Answers Delivered
- 12. • Cross-domain, external and index data brought together seamlessly • Deeper historical trending, analytics and insight More Answers
- 13. • Enterprise Planning with Simplicity of the Cloud • Intuitive wizards, starter kits, templates and best practices • Enterprise Grade: Security, High Availability, Scalability • Built in management reporting Planning and Budgeting
- 14. Cloud Security Concerns Have Subsided CFO adoption of cloud-based business analytics and financial management more than doubled between 2013 and 2014 - Financial Executives Institute
- 15. Finance Leaders • Must develop agile planning processes to respond to changing environment • Connect operational planning with financial assumptions • Leverage the cloud to widen influence with Line of Business Cloud Adoption is Accelerating
- 16. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Social Business
- 17. Question to Audience #2 Are you using Social Collaboration Applications as part of your Financial processes? Which Application?
- 18. Social Is All About Collaboration The average worker collaborates with 10 or more people to accomplish daily tasks
- 19. • Visual representation of close process status across the organization • Real-time access to close status and summary financial details • Contextual collaboration embedded into applications and business processes for improved productivity Social Collaboration for Period Close
- 20. • Address Internal and Statutory Financial Reporting Needs • Narrative Reporting • Streamlined and Secure Processes • Easy Adoption and Microsoft Office Integration • Built-in Dimensional Analytics Enterprise Performance Reporting
- 21. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Copyright © 2014 Oracle and/or its affiliates. All rights reserved. | Power of Social Collaboration Finance Leaders 31 • Pursue Wisdom of Crowd in revenue planning • Expand qualitative commentary in management reporting process • Partner with CMO to monitor reputation risk and impact on operating assumptions
- 22. Copyright © 2015, Oracle and/or its affiliates. All rights reserved. | Mobile
- 23. • Simplify the user experience • Data-driven navigation offers a data rich graphical interface • Understand and interpret data in a clear informative way • Gain additional insight through visualization Better Insight through Visualization
- 24. • Mass personalization • Exploration templates • Content specific visualization • Integrated mapping • Voice recognition and authoring Most Secure and Simple Mobile Experience
- 25. Copyright © 2014 Oracle and/or its affiliates. All rights reserved. | More Mobile Stakeholders 28 Finance Leaders • Re-design board communications • Make processes portable • Drive data into daily decisions
- 26. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | Moving Forward
- 27. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | Strategy for SaaS Leadership • Create a portfolio of unmatched breadth and depth • By building, acquiring, and partnering • To deliver solutions that create business value in the short, medium, and long term • In the most critical enterprise application markets PaaS IaaS DaaS SaaS
- 28. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | Accelerate Innovation Increase Insight Improve Productivity •Role-based dashboards •Consumer grade UX •Optimized across devices •Embedded collaboration •Automated processes & workflows •Configure not customize •Extensible, with PaaS •Standardized best practices •Broad country/industry coverage • Actionable insight • Embedded analytics • Real-time reporting/analysis • Broad and integrated EPM •2-3 releases per year •Customer, fact driven investments •Rapid implementation templates •Incremental adoption ERP Cloud Value Proposition Simplify & Standardize
- 29. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | Platform as a Service and Infrastructure as a Service Unified Modern Cloud Foundation Social Network Mobile Analytics, Dashboards & Big Data Integrations Line of Business & Employees Executives Finance & Operations Information Technology Financials Procurement Project Portfolio Management Enterprise Performance Management Order Capture Revenue & Collections Strategic Sourcing & Contracts Costing & Inventory Governance, Risk & Compliance Industry Solutions and Country Localizations The Complete Solution for the Modern ERP
- 30. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | Development Themes for the Next 12 Months HCM • Digital LMS • Global & Vertical • WorkLife CX •Loyalty Management • Industry Solutions • ICS & Analytics ERP •Public Sector Industries •Globalization •Revenue Management EPM • Narrative Reporting • Operational Planning Processes • Financial Consolidation & Close SCM •Order Management flows •Discrete Manufacturing •Planning Personalized Connected Secure Analytics • Operational and Strategic analytics • Predictive and Prescriptive analytics • Cloud and On Premise data sources
- 31. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. |
- 32. Copyright © 2015 Oracle and/or its affiliates. All rights reserved. | Safe Harbor Statement The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
Notas del editor
- Thanks Matt Exciting times with high velocity of change Change that impacts every one of your customers and prospects Talk today about how analytics can be a positive force in this change And how you leverage our innovation and position our solutions to win in this rapidly expanding market
- Think about Digital Disruption – case study is Uber. When London taxi drivers protested in June – downloads soared 850% 4 years old company in 42 countries 18b private value Who’s worried about Uber? Fedex and UPS – matter of time
- Not just transportation but every sector Payment Systems – Square Hospitality - AirBnb
- Finance officers need to pay attention as Nucleus Research says those who embrace digital technologies will have higher revenues, margins and stock prices.
- IDC talks about the notion of 3rd platform. 1st platform were mainframes followed by client/server distributed computing The 3rd platform consists of four digital technologies social, mobile, analytics and cloud computing. There will be winners and losers as these new digital technologies are adopted. Just take mobile. Smart phones have destroyed 27 business models, from GPS navigation systems to video cameras, digital cameras, ATMs to name a few Few takeaways on the 3rd platform Mobile – it’s not just for CXO dashboards. Mobile is a way to put data into decisions at every level in the organization. Nielson case. Social Business – it’s not just media and marketing. It’s about collaboration. New way of doing business. Big Data – not just for data scientists. Cloud – it’s not just for mid-market. Impacts every company in every industry of every size.
- Shift gears to Cloud. Off to very strong start with both BI and EPM services. New business model – many moving parts My team dedicated to making you successful
- Obtaining the input and intelligence of line of business managers becomes much more feasible with a cloud-based model that can be easily and flexibly rolled out across the organization. While a couple of years ago, we still saw reluctance in the Finance department around adopting cloud applications, largely driven by security and data confidentiality concerns, this has changed rapidly. We’ve seen this within our own customer base over the past couple of years, and confirmed by a recent survey we conducted: CFOs are increasingly buying into the Software-as-a-Service (SaaS) model. Over the next year, 75% of companies surveyed use or will consider deploying EPM in the cloud.* *Source: Oracle 2014 Top Trend Survey
- 10 billion transactions 20 million users 19 data centers Infrastructure, Platform and Application Services
- OUR 3rd GOAL IS TO PROVIDE MORE ANSWERS IN CONTEXT. Today, Oracle provides more rapid answers to 1000’s of questions by embedding insights into business processes. Real-time embedded insights into every operational process – order to cash, procure to pay With Endeca Extensions, HR professionals for example can gain insights into employee turnover by combining unstructured employee survey data with core HR and talent management information and better predict unwanted turnover. Role-based, specific and relevant to activity at hand.
- Oracle BI Applications in the cloud will allow analyses across sources, applications and processes – and across 3rd party data which can enrich the BI Application data. This will allow our customers to combine the agility the business is looking for when subscribing to applications in the cloud – with the ability to provide a full view of information across both the cloud- and on-premise data”. New cloud adapters: Adapters to Fusion CRM, HCM & ERP Cloud Services, Taleo adapter Longer-term: Cloud adapters for RightNow and Eloqua and a new Customer360 analytic applications joining unstructured and structured data
- OUR 4th DESIGN GOAL IS TO PROVIDE THE MOST COMPLETE SET OF CLOUD CAPABILITIES Oracle has made a massive investment in Cloud and Analytics is part of the strategy. First analytic Cloud offering is Planning & Budgeting Cloud Service in EPM. Off to amazing start. Over 75 customers in 1st two months and 100’s in the pipeline.
- Public cloud security concerns have all but subsided and we are experience incredible adoption of our new EPM Cloud. In just 6 months, we have over 150 customers of whom 40 are live within 90 days of subscribing. CFO’s – It’s time to stop doubting and time to be more agile.
- What’s the finance call to action with cloud?
- So let’s get started by looking at how to simplify social collaboration
- Many CFO’s have been skeptical of social media but I think that sentiment is changing. Social is not just about marketing and media but collaboration. Consider the fact that every employee collaborates with 10 or more people to do their job. Especially true for management reporting planning processes. CFO’s also have a responsibility to manage reputation risk. United Airlines example ********************************************************************************** *Source: CEB Corporate Leadership Council High Performance Survey, 2012
- Social Collaboration is an important accelerator for financial processes
- New Enterprise Performance Reporting addresses the Statutory Financial Reporting needs in the cloud
- So what actions so finance leaders take with regards to social? First, they should explore using a ‘Wisdom of the Crowd’ concept for revenue planning. Hackett studies found that broader participation, not deeper forecasts yield greater accuracy. Second, finance should seek to gather, synthesize and publish management commentary, not just facts and figures Finally, partner with CMO’s to monitor reputation risk with regards to social media.
- For those of you who own iPad @ home. Bring it to work and find a way to demo our solution every time – nothing elaborate – just 3-5 minutes Without depending on technical SC’s Makes the point – it’s simple and easy I do this every customer interaction. For EPM reps – show BI MAD with financial data on your tablet or approvals on your phone
- Our mobile innovation is accelerating rapidly. The cycle times are measured in months, not quarters
- Our mobile innovation is accelerating rapidly. The cycle times are measured in months, not quarters
- SaaS Full Suite CX, ERP, SCM, HCM 2 Release per year, very predictable Extensible but can’t customize (PaaS) – Extend SaaS, Build Java Apps or use database or other paas services (BI, Mobile, Integration) Run any workload in the cloud (IaaS) elastic compute and storage DaaS furnish data to any business user in an immediately consumable format. Ex. Marketers will be able to tap into a data marketplace to define their audience using a mix of attributes to vastly improve ad prospecting, pinpoint audience insights, and take integrated cross-channel actions.
- First, let’s talk about the goals of a modern ERP system. We all know that priorities are shifting, and to keep up and improve outcomes, organizations must focus on a number of key areas: Modernizing the user experience to make it more suited to the way users expect to work Promoting greater interaction: making it easier to complete a task anytime, anywhere, and to collaborate in order to be more productive Deliver greater insight through real-time, actionable, intuitive reporting and analytics Meet the needs of customers by extending our features to cover more industries, more geographies
- Global Completed and Integrated Scalable Modern Experience – Mobile, Social (collaborative), Consumer, Analytics Financials – Reporting, Revenue & collections Procurement – Sourcing & Contracts Projects - PPM & Execution Supply Chain – All components EPM - Planning And through our Platform & Infrastructure as a Service, we complement the complete solution by delivering agility and quality to address growing institutional needs and provide secure, scalable, and reliable storage solutions as well as innovation and speed to extend the Oracle SaaS portfolio and rapidly build and deploy cloud-based applications that complement the Oracle’s Cloud solutions.