Date: 16th July, 2020
News Type: Digital Transformation
In 2018, the West Virginia School of Osteopathic Medicine (WVSOM) took a major decision. They were looking to reduce their expenses by optimising their IT infrastructure. They also wanted to improve their online systems so that their faculty, staff, and teachers could become more productive.
Eventually, they opted for Oracle Cloud and moved to the cloud with a secure, robust, and unified platform. Within months, the institutional reduced cut costs to a considerable extent and saved almost $50,000.
The Indirect Stakeholder Cost
Despite the widespread adoption of Oracle tools, not many companies are utilising it properly. Countless inefficient Oracle systems out there eat up a vast chunk of revenues of their enterprises. Why is it that even after choosing a leading solution like Oracle, enterprises still can’t get the most out of their databases?
While optimising the business operations for a wide range of organizations, we, at Pansoft, recognised that many organisations fail to account for the underlying organisational costs.
Here’s a brief overview of how these stakeholders interact with IT tools:
- The payroll department must process payroll on schedule. Delays can cause uncertainty in the organisation, especially if it occurs during an economic recession.
- Call centre staff needs optimal speed, .i.e. their CRM application screens need to be loaded lightning fast.
- A slow website can result in the loss of several potential clients.
- Executive management is in need of timely, accurate, and real-time dashboard reporting.
In many companies, these stakeholders and departments normalise the high Oracle total cost of ownership (TCO). More often than not, the in-house IT teams do not have the expertise and fluency to manage and monitor tools.
But is it really acceptable to allow an executive dashboard to take more than 40 seconds for loading a report on the company’s supply chain processes? What if it could be loaded in less than 5 seconds? This reporting system alone is causing a significant amount of losses to the company over the year as it directly affects the organisation’s decision-making.
Is it acceptable that the company website’s bounce rate is high and customers are moving to other sites due to poor website responsiveness?
It’s tough to measure the indirect cost of these tools on business operations in financial terms, but it’s certainly not negligible. Performance costs are mostly assessed in technical terms and direct financial expenses for remediating a system measurement.
It’s important to understand that the investment going into IT is not the only consideration. You also have to take the intangible stakeholder cost into account to determine the remediation of performance issues.
To help you reduce operational costs, we, at Pansoft, recommend you to look into the problem through the lens of an indirect stakeholder. This is a beneficial approach due to two reasons:
- You get to spot and resolve performance issues that affect your business processes.
- You get to increase the IT budget for resolving performance issues.
The Analytics Dilemma
At the moment, data analytics/business intelligence platforms are the only tools that help managers and executives view a vast amount of data, interpret it, and make decisions accordingly. However, even if these insights are shown and delivered perfectly, they must come at the right time.
Generally, analytic rollouts happen on an incremental basis as the platform continues to become refined. Users ask complex questions as the analytics functionalities are updated. But, if the system isn’t bottlenecked, and the solution can’t return quick responses, these insights don’t offer any use.
Alternatively, businesses that keep up with their user requirements and optimise performance accordingly benefit a great deal; executives receive timely insights, improve decision-making and expand business performance.
Long-term performance tuning of the analytics platform ensures that it can address user requirements and reduce operational costs, thanks to performance upgrades. We have been doing it for a long time with Oracle E-Business suite.
Remote Oracle DBA Services Are Trending
Remote database administration is all the rage at the moment. When you limit your database infrastructure with an in-house team, you can only reduce costs to a certain extent. Getting offshore services are crucial as they facilitate you to explore a wide range of prospects that are made possible with remote DBA.
Over the last ten years, there has been a massive increase in the outsourcing of database services. Around two million database jobs have been outsourced to India and China. The trend became popular because companies found remote DBA services, like that of Oracle, to be much more efficient and cost-effective than their in-house infrastructure.
The biggest advantage of getting remote database administration services is that it cuts operational costs while raising profits simultaneously. With remote Oracle DBA, you acquire improved access to resources and take advantage of the best professionals in the industry.
In addition, you can also free up internal resources. The project execution speed gains a significant performance boost via remote DBA. Large enterprises employ hundreds and thousands of employees, and to manage the end-to-end user lifecycle you need support from experts like Pansoft who not only overlook multiple areas such as user access management and authorisation, provisioning and deprovision, certification and decertification, reporting and auditing but also provide you with remote oracle DBA services, optimising your database design and queries for better results.
How Oracle E-Business Suite Can Improve Your Productivity?
Do you know that Wells Fargo, one of the largest banks in the world, heavily relies on Oracle EBS?
Oracle E-Business (EBS) comprises of a wide range of software. Here’s how business owners can leverage Oracle EBS’ modules:
- Streamline your cash flow management and financial management with customisable and user-friendly Oracle Financials. Modules such as Financial Analyzer, Property Management, Treasury, Fixed Assets, Receivables, Payables, Cash Management, and General Ledger enhance your financial processes.
- From recruiting new hires, managing the current workforce, and retiring old employees, you can handle your HR processes effectively with Human Resource Management System (HRMS).
- If your organisation is having difficulty with storing and shipping goods, it’s recommended to use Oracle Logistics. It can predict future demand and plan for safety stock in the warehouse. Develop in-depth, tailored material plans and create production schedules.
Moving to the Cloud
A few years ago, Oracle recognised the growing adoption of cloud infrastructure. As a result, it allowed companies to migrate their legacy systems to the cloud with Oracle Fusion Applications. Fusion refers to the underlying technologies that allow organisations to use Oracle’s cloud offerings. For instance, you can use Oracle Fusion Sales Cloud to move your sales workflows to the cloud. Similarly, you can improve customer relationships by integrating your global team with Oracle Fusion CRM Base Cloud Service.
Complying with Data Privacy Regulations
Oracle Identity and Access Management enables organisations to streamline and automate the end-to-end lifecycle of user identities. They can use it to provide authorised access and protect:
- Confidential data related to businesses, suppliers, and customers, whether it is stored in the cloud or on-premises.
- Applications used by employees, suppliers, and partners.
Devices, such as smartphones, desktops, laptops, and IoT.
- Integration—Information stored, sent, received, or exchanged between different systems.
Using Oracle Identity and Access Management is crucial because it allows you to comply with modern regulations such as GDPR (EU), CCPA (U.S.), and the Privacy Act (Australia) to name a few. In this way, you can prevent data breaches and avoid hefty fines. Get in touch with Pansoft and use the following Oracle IDM tools:
- Oracle Access Manager
- Oracle Identity Manager
- Oracle Internet Directory
- Oracle Entitlements Server
- Oracle Privileged Account Manager
- Oracle Web Services Manager
- Oracle Identity Federation
- Oracle Identity Analytics
- Oracle Adaptive Access Manager
- Oracle Enterprise Single Sign-On
Do you want to leverage these Oracle solutions to take your business to the next level? Reach out to Pansoft and simplify your business processes with Oracle services.