|Top trends from Oracle OpenWorld 2013|
One of the largest shows in the world, Oracle OpenWorld 2013, attracted more than 55,000 attendees. Partners, customers, employees, and exhibitors spent five days on everything Oracle, from the Oracle Cloud to Oracle’s incredible comeback win at the America’s Cup. To sum it up, it was awesome.
The official theme of OpenWorld 2013 was “Simplifying IT -- Enabling Business Transformation.” Oracle experts spent a lot of time talking about how they’re helping to change business. Whether through Oracle Fusion, the Oracle Cloud, or Oracle’s budding relationship with Microsoft, the theme was everywhere. Innovation and transformation played a role in nearly every session.
We were ecstatic to have Oracle’s official theme fit so closely with our company goals -- simplifying business and transforming organizations through solutions that make day-to-day business processes easier and more productive.
At our booth, other than conversations about the America’s Cup, we talked about how to extend the value of existing Oracle infrastructure -- specifically, how to maximize an investment in the Oracle E-Business Suite to properly manage agreements, incentives, promotions, and compliance, or as we call it, Enterprise Revenue Dynamics (ERD). Judging from the feedback we received, properly managing these processes through existing systems isn’t an easy task and acts as a significant source of revenue leakage and margin erosion.
ERP systems instinctively focus on crucial business processes in an organization, but leave room for gaps elsewhere. Simply put, most enterprise solutions have such a broad scope of responsibilities that they are perfect at very few of them. Although these systems excel at managing basic financial transactions, order processing, and customer information, tasks such as managing complex incentives, rebates, and accruals are often overlooked.
When existing systems can’t meet the mark, companies are the ones who suffer. In reality, companies require solutions that properly manage incentives and promotions while ensuring that contract terms are monitored and met. And companies need solutions that increase the value of their existing systems without conducting a rip-and-replace exercise. Utilizing specific value-add solutions that make existing systems more powerful is one of the fastest and most efficient ways to extend the value of your investment and provide incremental value to your existing technologies.
What was your experience at Oracle OpenWorld? What would you pinpoint as the key drivers for change emerging from show?