ERP/EPM Cloud—Outpacing Change in a Disrupted World: Oracle OpenWorld 2019

please welcome to the stage senior vice president application development Oracle rond evening and senior vice president applications development Matthew Bradley [Music] thank you and welcome my name is Randy and I'm responsible for olp apps development at Oracle joining me today we have Matthew Bradley who's heading the EPM application suite or Oracle so now for many of us here especially those people in finance and operations the big challenge that a lot of us are facing is how do we do with the rising expectations of all the business changes and technology changes no outpacing it just to keep up with them it's already a big challenge now we think about Oracle OpenWorld this is a perfect place was to slow down and we think a little bit about what do you like the strategic value of your finance and operations functions to be what's the kind of road that you like to play in there what kind of technology and capabilities do you need to have on your fingertips to be able to execute that particular value how do you actually overcome all of the obstacles standing in your way now we're gonna explore a lot of these questions as well as others in this particular session now I'd like to actually ask everyone to take a personal challenge to really take a moment and take the opportunity to think about what those questions mean for you and your organization because cuz I wanna make sure that you get the most out of this particular session now when I talk to a lot of customers many of the organizations are starting to question where they're actually they can continue on with the status quo as well as actually trying to rely on respond all these changes based on lost generations of technology now when you think about risks associated with that especially again when you delay the decisions on some of those things I think you're the best person to answer what does that mean to put yourself and your organization at that loveful of risk whether this is going to mean staying in the business keeping up the business or disrupting your business that's a lot of questions for you to ask yourself now for us at or go what we're like do here our goal is to help you see the change as an opportunity as well as understand how we can work together to approach financial transformations basically resulting in new business outcomes there are lots of new ongoing innovations that we'd like to share with you today but in addition to that you're gonna hear a lot from our community as well as a lot of technology leaders and finance leaders about the experience on that later on in the show great welcome everybody welcome to the community if you're like me and you woke up this morning and you were in your hotel room maybe you're waking up you're trying to understand what would be like if you were inside of finance as part of a hotel chain if you had to forecast demand at every room not just here in San Francisco but globally companies like Hilton have done that on the Oracle cloud with Eve actually seen an increase in ibut of forecast by over 40 percent these are the kinds of transformations that Romney's talking about that we'll be able to achieve as part and parcel of the move to the Oracle cloud maybe after you've woken up you've had your shower you've decided what to wear Ronnie's obviously got a much fancier wardrobe the mind I'm a little envious maybe I need to take advantage of stitch Fitch and have them do a personalized overhaul and actually get me dressed up much more finer than that but a stitch Fitch if you recognize what they're trying to do they're trying to move at a much rapid pace they're trying to move to get that personalized experience and what they've done a month even it managed to do is to automate the mundane to remove themselves from the day-to-day operations and try to focus more on becoming business strategists alongside their business partners I think that's something that we'd all like to achieve is part and parcel of finance professionals maybe after you've got dressed you've had to do a transaction maybe you've used squirel to do a credit card transaction maybe you've taken advantage of some of these banks and these banks have got unique challenges obviously they're looking for a very very secure client where they can have their transactions be trusted they're also looking for a very very scalable cloud where they can process millions of transactions and most of them have shifted towards our back-office solutions to help them in this area and last but not least maybe had to do some errands she had a via snack bar maybe had to step into a FedEx store and actually have something shipped back home or have something shipped to you that you forgot do you realize that FedEx actually connects 99 percent of the global GDP it's a tremendous organization working a tremendous scale and trusting ourselves with their back-office mission critical systems this is just a quick example of some of the customers that we've been integrating and engaging with and we'd be bringing some on board later on this afternoon to explore their particular journeys yeah as matt said these are just a small number of customer samples that have already adopted the transformation journey with us and this is all of a community of about 6500 customers who actually have decided that this is about time to get them onto the journey and realize all the innovation value that they are hoping for now as you can see in the community there are lots and lots of real work nice brands and logos in here across all the different gia geographies as well as all the different key industries I just want to kind of just call out of you it may be a little bit small for you to see the first row financial services we got Lloyds Bank Louis Bank actually came from my full-si P highly customized environment they actually converted completely to a finance Club lbs it's one of the highest falling customers Royal Bank of Scotland really they pump through millions of transactions per hour for our accounting hub to achieve a level of detail management reporting that they were never able to get before HSBC one of the largest banks in the UK and globally they have deployed our finance cloud for almost by two to three years across many many different countries when I look at professional services PwC everyone knows PwC instead of kind of converting everything to Oracle they started with a journey with the African operations and getting a lot of success and rolling out into other countries as they go g4s is one of the largest companies in terms of kinda a human labor workforce they are specializing in security services and there are hundreds of thousands of security professionals in the company they've rolled out the ERP cloud as well as adopting a finance transform across many many different countries in high-tech Western Digital converted completely to our ERP cloud supply chain cow across three fortune 500 companies including rescinded truest self Itachi and Seagate telco we are very very welcoming all the support that we got from European telco companies like orange based in France wintry one of the largest Italian help Coast v on and on a big mobile carrier based in Dutch and then AT&T adopted our revenue management clouds to satisfy all the IRR 16 reporting that they have sorry I've have 15 reporting that they have in Las Vegas we actually have Caesars Entertainment completely converting from green screen over to our cloud over the last couple of years and now can I be rolling the same kind of model into other gaming companies like MGM as well as the like Penn National and so on clearly can't a lot of restaurant chains and hotel chains in the mix in there Matt mentioned FedEx UPS and GE when the large conglomerates is one of the earliest adopters of our ERP cloud G digital completely converted over our cloud for at least gaya four years now when you think about kinda the other retail section Office Depot Tesco Coast these are all big retail stores retail chains in a different geography regions hi rad clearly we are actually very interested and also excited working with the UC system starting with UCLA UC San Diego and then we also have in public sector you came from a home office and I spoke to them yesterday as latest is kinda 33,000 employees actually running our finance and procurement solutions very impressive group of folks with lots of lots of talents and making a very aggressive move to automate a back office so they can free up their resources as well as the talents to focus on the most strategic value of their business functions now I'd like to actually take a moment and share three pieces of statistics to you now the first one is 75% of SMP 500 companies I expect it to be replaced by 2027 do you know that since 1980 the average life expectancy of a company in SP is 25 years but today is only in 18 years and it's actually continued to drop clearly there are lots of disruptors in across many many different industries and it may be just around the corner now according to KF Institue is CFO the average tenure is about just a little over five years the leadership in finance doesn't really have a lot of time to execute the kind of transformative changes that actually we're expecting them to now but the interesting piece of news there according to McKinsey is 89% of the accounting functions in most of organizations can be automated by technology now think about for yourself if you have all that time back from yourself as well as your team what could you have got those resources to focus on could they actually drive a lot more strategic value rather than actually doing all the mundane accounting tasks now when you think about the big picture here a lot of disruptors are out there potentially disrupting your market behind it and the CFOs don't have a lot of time on the agenda to really actually make the changes that they want and then yet automation is available and technology is available for you to really deploy the transformation in the company so you can free up your talents to focus on strategic functions so when we look at the automation then we look at the disruptions that occurring from a technology standpoint there is a series of those first and foremost as Romney pointed out as automation what can we do to automate the mundane what can we do to actually increase the productivity of our professional folks instead of finance we're looking to retain and attract talent and it's extremely difficult if they're repeating the same top over and over again we want to free up those important resources and have them do something much more interesting in terms of analyzing the data etc from that standpoint one area where we've seen an increase in in the use of automation is actually in risk management if you've got 27 24 by 7 monitoring of every transactions you can seriously reduce the amount of risk inside of those transactions you can leverage automation to apply policy automatically for you so you can spot these trends that are occurring from a risk standpoint but at a more strategic level it's the ability to automate scenario modeling to run multiple models of your business over time with different inputs and see the impact of those inputs and do that quicker faster than what you could do before obviously one of the biggest changes that we want to see is a shift to not only bring in financial data but bring in operational data as part of this exercise we want to look at those leading indicators trends in the operational data that gives us an indication as to good things or bad things occurring in our business with the ability to correct quickly and fast as we work through a way through that piece and obviously as you bring in a lot more larger data it opens up the world of machine learning and artificial intelligence the ability to apply these algorithms across larger sets of data to gain those insights and to gain the learning from that information and to be able to adapt and change as new transactions come in through and new learnings occur automatically as part and parcel of these models that we can put in place I mean a great example of where we are applying and starting to apply machine learning is in the planning and prediction or area can we look at our historical data understand what occurred in the past and then apply that to what's going to occur in the future and then learn as we make adjustments to that future data and we continue to refine and predict better from that particular standpoint as you move forward one of the other areas that we're seeing a lot of interest in is obviously supporting business model changes so once we've added in this new data from IOT we could monetize it we could potentially shift away from being product orientation to becoming much more service orientated and actually shifting change our business models by freeing up individuals through automation through bringing in these additional data sources it gives us the ability to focus on these times transformational changes that are extremely important and obviously as we added more data we have to look at the the security of that data you want to make sure you partner with a single platform that gives you consistent security model across all of the data that exists and you want to take advantage of the innovations that we're doing at all levels of the infrastructure to make sure your environment is secure as it can be and resistant to cyber threats that may come back and through and lastly we are seeing a shift in the age of the employees inside of our organization they've grown up in the digital age they're used to a consumer grid interface on their phone or on their tablet and that's how they want to interact with the new experience in terms of both ERP back-office feature function and one of the big areas that we'd be spending a lot of time and energy in is to really change the dynamic rather than interacting with the mice why can we just converse with the ERP why can we just converse with EPM and have an intelligent conversation and we'll give you some examples of where we see that been applied in our demonstration a little later ok so let's take a look at three customers and a little bit more def inspire brands for those of you don't know inspire brands it's the fifth largest restaurant company in the US they actually start out as Arby's and aggressively bought a lot of different companies including buffalo wings and then sona tic in and for them it was a combination of a backbone with a business weed and Microsoft Dynamics and what they've decided to do is instead of actually consolidating everything into one single platform and continue with status quo the CEO and the CIO have decided to move on with a completely imagination by adopting a brand new cloud-based solution to support the M&A strategy so with that they definitely have achieved a lot more automation and productivity out of that so you get this is one example my what Matt said with the changing business model and the acquisition strategy where transformation can be facility that we're kind of the new technology in mind now Office Depot with no introduction needed many of you know Office Depot is that love and billion-dollar companies but you may not be aware that they actually operate in 1660 different countries and more than actually 1,400 stores worldwide now the Pope the key thing there is for the business strategy they're investing very much on expanding into the b2b subscription business clearly like the big companies buying stationaries through subscription orders directly into Office Depot it's a big part of the ongoing growth strategy so they are actually undergoing a major transformation across all the back office including the new subscription management capabilities that Oracle introduced last year to address the new business model square on the other hand is a new generation mobile payments company it's a public company about three possibly in dollars for them they have been were parading on the ibises we financials environment for a long time but what they really needed is to be able to get the love of management details that the ongoing payment upstream solutions is striving into the back-office finance they need the level of details and specifics to drive management analytics and AI of that on a continuous basis we talk about 10 million transactions a day going through that system there so for them they are also very very aggressive in terms of investing in the chapel technology to bring the level of productivity that they were hoping for for the employee base to access the finding systems now I'd like to actually take a moment I'd like to take a moment to actually thank all of Col the customers who have actually gone on this journey with the community clearly their investment in the transformation project as well as kalaiy all the knowledge and talents and feedback have all helped the community to become a lot more productive and basically lots of sharing lots of great input oracle itself is partnered with all these companies and learned a lot through the journey and really would like to actually have the opportunity to take a moment to thank you all of you and trusting us with your mission-critical back office system with this journey now in my job I have the luxury to speak with a lot of customers every single year last year I spoke with about like three or four hundred customers many of the CFO's CIOs and I asked them a question when you actually select a partner in this journey what are the things that you care the most about one of the values that you actually value most in the partnership itself and it came down to about four things now first they are looking for a solution and company that has the most complete breadth and depth to support their multinational business the complicated business many times guy even for a start-up company they're looking for the company with the capabilities to support their growth the completeness of the solution anteye and across different back-office functions with the industry capabilities and support for multinational functions is one key attribute proven clearly nobody wants to be the very first beta adopter for solution they're looking for not just kind of like a lot of customers they're looking for customers in their particular industry in the market having successful implementations gaining value of that be able to recommend that now clearly they're looking for an ecosystem with lots and lots of skills in a system integrator community as well as the community that can share and learn a lot of the best practices from and of course color the industry recognition is going to help them live with the extra confidence as well now innovative is pretty simple everyone wants to be future ready and future proof now the objective of our innovation there in addition to actually bringing all of the late generation technology value that Matt talked about early or the AAI machine learning all the IOT technology blockchain and embedding that right into the business functions that they use day in and day out clearly is something that they're looking for but at the same time they are actually expecting a lot of ongoing value to be actually usable by their organization as well no matter how great the technology is unless it's something that they can consume that can roll out they can add up with the user space it doesn't mean a lot now at the same time clearly everyone is looking for a consumer-grade user experience hopefully you're gonna see some of the new generation user experience from Oracle in the demo later on now customer first this is something that is a very different view from the technology clearly the technologies and the products that we offer are extremely welcome and really very competitive but the technologies is only a small part of your overall overall adoption journey think about kind of the complexity for you to embark on a journey like a finance transformation there's a lot of change management involved in there there's a lot of business operations that you'll continue to operate and run your business processes on our environment you're expecting a lot of services operationally and robustness from quarter quarter as we bring new innovations to you and more importantly is can I actually inference the community as well as work oh so that can I as I continue to grow can I continue to expand the other side is going to listen to my input and be able to absorb my requirements as part of the Roma so all those are really the most important attributes that people are looking from our partnership in there now broad and deep clearly I have talked about all of that now we took pry in terms of having the luxury of years and years of intellectual property when we build all the on-premise applications so how sweet is all the way anti End from finance to projects to procurement to Enterprise Performance Management to supply chain and then to risk and control it's a full suite of back-office applications with lots and lots of capabilities that are fully integrated together single source of truth and he integrated so we can drive connect a business value and innovations of the ante and processing now in addition to having the broadest footprint clearly the death is very important many of the customers that you saw on the slide earlier have multinational presence clearly we have customers operating over 125 different countries many of our customers operating in some countries with very complex localizations by Latin America like Eastern Europe and we have the cover Asia for all that and we also actually have this solution translated to 26 different languages now customers are in many many different industries they are looking for industry specific capabilities pertaining to the space where it's financial services all the way into project manufacturing or public sector higher ed they are lots of lots of capabilities that are pre-built into the package integrator in their package that we offer as part of suite and you can also see the bottom there are lots of new enhancements coming out of the depth I love kind of the industries based on direct customers feedback now clearly we are very thankful with the success of the community are many many customers telling their ecosystem telling their peers and even telling a lot of the industry analysts about their confidence about the value that they're driving all of the deployment of the cloud journey and we're able to get an industry recognition especially with Gartner that three years in a row we are the number one leader position in the garners financials quadrant Magic Quadrant and we're like to thank you.thank the partner demas was kind of the rest of the industry analysis for they recognition there okay so now when we are to talking a lot about the experience we talk about the innovations a lot of customers ask me a what is oracle investing in terms of new innovation and the continued improvement you have already said that kind there are lots and lots of capability with the completeness and a broadened death at the breadth and depth so what are you actually deploying in terms of AI machine learning type technologies into the applications we where are you going with that so generally like what Matt said earlier we focus on a number of different areas but let's get into a little bit more intelligent UX now clearly this is a area that we have put a renew refresh view in terms of applying a lot of the late generation technologies like conversational we experiences in this particular conference we are rolling out a number of chat bar digital assistant capabilities in the back office in particularly and expenses and timecard entry we can we tend to have collect lots of users using every single day so that's one example now the other thing that we're doing also there is try to make the user experience more aware of who you are what you're trying to do and be able to contextually default in and recommend the right path so for example you get to the application you would know that can i this is stay minus three and you're likely going to run this particular report you try to actually put the entry in front of you so kind you don't have to find hon for it organize things like d14 and so on and so forth so a lot of incremental capabilities that we put into the user experience design to make your day-to-day job easier and faster based on all the learning and the machine learning the more than you use the more that we know about you the smarter it becomes now the other thing a lot of the back-office operations is relying on is the automation of the transactions and processing and clearly over the past years we had like OCR technology but we have evolved that into a machine learning based intelligent document capture so it can process transactions invoices expense receipts and other types of transactions through just emailing the document whatever cannot that that habeas Excel file or an image an XML file it doesn't matter what that is it will try to understand it you'll recognize it you'll create a transaction for you without you having to understand all the details and of course there are lots and lots of process automation in different parts especially those multi-step processes that you had to do in a close lots and lots of that is driving to us more and more into the continuous manner now security order in compliance is always our number one focus at Oracle this is something that is a DNA from day one of the Oracle history but in particular we're putting a lot of investments in AI machine learning on risk and control for example I will detect specifically whether you have any segregation of duties type conflicts or any kinetic potential questionable access and we have the analysis based on the usage patterns and the privacy rule and we get all those flack for you now that Australia is obviously in the recommendations and predictions so recommendations can be as simple as Ronnie pointed out earlier what is the next task I should be doing based upon the time of day time of month etc from that standpoint and also based on the learnings that we have due to usage patterns that were analyzing accepted from that standpoint but recommendations also could be who's the right supplier to do business with based upon information that we've gathered and processed in three machine learning algorithms we can apply to pick the right supplier more recommendations or predictions could obviously be in the planning and forecasting arena in terms of how we should move the business forward where we should invest and what with the expected income inputs and outcomes be from that particular standpoint what we'd like to do next is actually take you through a standard process and what that process looks like yesterday today in what we imagining it will look like as we go forward in terms of our roadmap and development and expertise that we're bringing to that piece so this all is there is to record the report and there's probably very very familiar to you all transactions enter on the left they go through a various sets of processes we record them we reconcile them we'll post some journals we'll report against those and once we gathered up all the transactions in a given period we then pass it across to be either consolidated or to feed the budgets and plans so we can then do further analysis and understand conditions in the business etc etc this is all very very familiar to you but in reality it probably looks a little bit more like this right our processes aren't as streamlined we generally don't have one system we've got multiple systems and there's not good handoffs in between them and for most of us our closed process is a little bit of blood sweat and tears in order to actually arrive at the period closed data that's in place and things get even worse when we start looking at the operational data we're basically seeing silos of information and it's not uncommon for us to appear at our CX level with two different versions of the same report and the numbers don't tie or reconcile at all so what we wanted to do is to take a step back and figure out how we can shift the balance of the amount of effort that's spent in getting the data ready to make decisions and spending much more time and actually taking those decisions and doing that correctly and so our view is a little bit more like this where we want to basically look at the existing processes that exist we want to streamline those processes and simplify those processes and once that's in place then automate as much as we can of that particular process the goal be really trying to get to here is fundamentally the touchless transactions across everything that we do in the back office so that we can automate as much of that activity as we can but we also recognize that we're not trusting the machines for everything there's still an important financial judgment process that's required we have to review accept control and optimize as we work away through that particular piece once we've captured this information obviously we wanted then curated analyze it and again apply more machine learning inside of that context the important things that we're trying to solve here through this process are very simple one is to make sure the data is accurate we want to make sure the data is timely so I'm making decisions on strategy based on yesterday's data not last month's data and I'm making decisions based on purely accurate data that I can know and trust and has gone through the accounting process and it's clean the second piece that we wanted to do then is bring in data from the operational side of the house so that we can have a comprehensive view of the information and not only data coming from internal to our organization but also bringing in data from external if we're growing at 10% and the markets growing at 15% we're not in a good place so we want to make sure we've got that complete comprehend view of what's occurring from market conditions from leading indicators from a variety of things that you see in the industry today the overall goal of this is that through this process we can simplify the publishing and disclosure disclosures that you do externally so what you're doing from a regulatory reporting standpoint what you're actually doing from a management reporting standpoint is to make that much more of an automated output of the organization but the ultimate goal is the top arrow can we actually have finance be that business partner to give the insights back the course corrections the strategic direction that needs to take place in order to really drive the business forward so that we can move business at the speed that makes sense and did to the conditions that existed in the marketplace so this is the view that we sort of have of this new finance continuum of trying to automate as much as we can increase the accuracy and timeliness of the information and actually reduce the time it takes to take a strategic decision we'd like to see the rebalancing of effort from a 30% in did a gallery and collection and spending a lot more time in that 70% high-value ad where we're actually making decisions based upon that information so we've talked a lot about this what we really want to do is shift this forward in what we're doing a side of Oracle and you've heard a lot of this this week is this notion of redwood it's basically taking a step back and a holistic view of that user experience and that experience includes everything we do from our badges from our interaction to the marketplace to hi that is then reflected inside of the products themselves it's having a continuous view and a simplified view of that entire process and one of the outputs of redwood which will bring up in the demonstration right now is to show how that then flows into the new interaction models that we're trying to put in place this is not about look and feel this is about reimagining that process and ending up in a much more optimized much more effective efficient process so what we're really trying to get to is when did you last have a chance to have a conversation with your ERP what we want to do is not just talk to the ERP and not just give you a digital assistant we want you to have a meaningful intelligent conversation with your ERP in with that I'll invite Justin and Winston on stage where they can give you a demonstration of where we want to take the products and how we want to solve these particular issues [Music] cool thanks man so what Winston and I wanted to do today was show you a preview of something that you'll see elsewhere at the conference as well but kind of a new way of interacting with a system called ask Oracle and what this is going to do is I'm gonna try and show you three things basically I'm gonna show you a new way to interact with your ERP a conversational way to interact with your ERP and I'm also going to show you how some of what Matt and Ronnie were talking about earlier in terms of this connectedness of the data under the covers how everything is together your business is reflected in the system and end across sales finance procurement projects etc and how from a finance professionals perspective that actually allows you to make change to the business directly from kind of your seat or your view of the business so you'll see a little this in a second what I want to do is set the stage a little bit though so what you'll see here is I can get this up what you'll see here is hmm what you see here is live software struggling badly yeah well we're trying to do a tablet view of this and it's not maximizing properly now so what you're gonna see here is you're gonna see a day in the life of a finance professional sales finance professional a supremo fitness so this is the company that makes fitness equipment bikes treadmills all that kind of stuff and they're pivoting their business to move towards a subscription-based business so instead of locking their capital up instead of their company their customers locking their capital up and buying all this stuff they've decided to release Fitness Center as a service and so you know as supremo we take all the data around how our exercise equipment is being used what's not being used make sure that the right equipments in the right place at the right time and charge for that service for our customers this is a pivot that Oracle went through as we went to the cloud and a lot of our customers are writers as well so from that perspective what I want to do is I want to look at the state of my business I want to see what's coming in to change my forecast what's coming in to change my revenue plans and then take action against them so when I log in I immediately see kind of new headlines for me at the beginning of the day I see a new sales opportunity that's moved out of you know kind of up side and into you know an actual forecast a deal and I see some problems with my revenue that I want to go fix tell me about the forecast change so what's gonna happen here is its contextual and its conversational so as I move in its going to tell me more about the forecast change related to my sales forecast it knows I had sales forecast up above I get to see more detail now so I get to see this deal I get to see sales comments around the deal and I've got some third-party information from data Fox coming and telling me why this happened right so it's contextual it tells me that they're requiring another company and data foxes reclassifying this is a strategic account for me as well except the bookings forecast you can see made a little error there and understanding what I was trying to say but the system's smart enough to figure it out and adapt to it anyway because I'm not trying to create an exception and my forecast I'm trying to accept it and moving into the next stage of demand planning so this is important to Winston and that kind of what these guys were talking about earlier around you know my view as a finance professional is actually connected to the rest of the business when I change this plan it immediately changes my demand plan and that immediately changes my supply plan and it flows into projects and the entire things connected so I don't have to get in a room with a whole bunch of other people and have everybody key away on their own different systems and their own different ways to make modifications to my business now what a look at a revenue issue as well so show me the revenue projection against plan and what I get to see here is I get to see a view of my revenue for this fit subscription business again it's contextual I'm looking at fit subscription so it's telling me revenue related to that and I can see you know kind of my history where I am within the quarter and I've got a little issue here I'm a few million dollars below and what it's doing is taking all of that third and first party data across my entire business and making a prediction for me and what it's done as well as it said since I'm looking at revenue I'm gonna take all the dimensions that are related to revenue and give me the opportunity to manipulate those so it's put in here unit activations which is how many of these bikes and treadmills and that kind of thing come online as I activate them at a customer and when they come online I actually am able to start recognizing revenue for them then so it's a you know related element now here what I can do is I can make adjustments to it so this is going to go into my plan it's gonna push this data back into EPM change my demand plan right I was looking at the sales forecast now I'm changing my demand plan and as easy as that I can go ahead and tell it to save the data or what I can do is I can share it and it'll drop me into a conversation with my operations team and allow me to share that data with my colleague in operations when all right thanks Justin yes okay so my name is Winston weighing just introduced myself and I leave the UX design teams for ERP here at Oracle and really excited to be here I'm gonna take the opportunity to say a little bit about what we're doing here with our demo so you know what you're what you've seen and what you're about to see is a great example of the approach we're taken to UX going forward here at Oracle right so you're seeing a design that's really centered around automation AI and machine learning you're seeing the Redwood design system that Matt had told you about you're seeing it all around open world as well really excited about that you're seeing working with a digital assistant that's getting to know you so that it can anticipate what it is that you need to go do and smooth out the workflow and you're also seeing new UI technologies new UI approaches like the rich chat experience you're seeing here with ask Oracle that blends the best of chat interaction with GUI so with that oh that's what's your first Oh okay let's get back to the demo so okay here we go so I'm playing the role of the VP of Operations here and I'm on my Mac and I'm in slack here and I'm about to get a message from the VP of Sales Finance you know it's what Winston gets to be himself I have to be Timothy yeah it's just how it worked out so and okay I'm like hey what's going on here okay we've got this fit subscription project I've got to go do and oh my gosh I've got to get it done fast otherwise we're gonna miss our targets for our quarterly revenue so better get on it I'm gonna click on the link here and it's gonna bring up ask Oracle and immediately the digital assistant is letting me know essential information about this project right so I've got a nice picture of a unity hotel I need 10 that what 1050 unit activations across multiple hotel sites oh my gosh and I've got to get it done before December 15th so as the vp of operations it brings up a couple of things right we've gotta get a project done quickly so the first thing is do I have the materials I need to get the project done right the second thing will be staffing and you'll see that so okay let me ask about the materials right tell me about the materials for the project the assistant comes back and with chat and with the graphical user interface provides me with the essential information for me to understand the situation I've got my Bill of Materials I've got my supporting materials I see the 200 I owe t router gap right so this is the thing I'm now concerned about but the assistant can anticipate that this is the problem and tease it right up for me right it's telling me that I you know the existing supplier doesn't have enough routers to fulfill the order I've got to go find some new suppliers so I click on the button down here go to a full screen mode I can see three leading supplier candidates I can pick from I can start by on-time delivery or short term cost or long term value I can easily compare them to each other in terms of overall rating or on order performance price performance ratio total cost of ownership etc even how big of an order I can place and looking at them pretty clearly it looks like Harrison technology is the way to go so in a pick that one and great so now the assistant has asked me well how many I want to order so yeah 200 seems like the right number right so I'm going to use chat here to create a rack for 200 routers and deliver next month and that's a great example of how you can create a compound action there right specking it's a wreck how many routers and when you need a delivery all with chat so that's a pair of chat and the system is making some intelligent decisions on how to fill out the rest of that order documentation behind the covers right he didn't have to go into a screen and fill out every little element just filling out the pertinent information and it's doing all the rest behind absolutely I could double click on the plan or that wreck but I'm just gonna keep moving on to the second thing I'm concerned about which is the staffing so you know show me the staffing plan for the Eid hotel projects and again the assistant brings it all up in a nice card based UI I see yes yet another problem right we need 8 people to do this project we only have four and if I use the map I can see that it's in the Boston area that has a problem just a lot of people there so it's again the assistant is anticipating what I need to do I need to go hire some people so I press the button the view candidates and it brings up three looking like good candidates here I can see all the pertinent information their names their their staffing situation where they are geographically their skills match and available dates these all look good so I'm gonna pick all three of them and I still need one more so here are three additional candidates you know taking a quick scan they're not as good but the first one is an employee skills matches okay and they're available in November so I'm pretty gonna keep an eye on that one I'm candidates two and three they're they haven't been hired yet but I can see them through our Taleo recruiting service I can see that they're somewhat nearby and they've got good skills matches they're also available so I'm going to put a hold on candidate one and I'm going to request an interview for candidate too okay so I think I'm now done I think that's that's what I need to do to start this project so I'm gonna ask for a summary of the project plan and here are the things I asked for I need to order 200 routers and we need to you know get some staff on the project I'm taking a look at it it it looks good so I'm gonna hit submit and that's it so I hope you liked the demo that's the demo that's ya and that is ask Oracle so if you are interested in more of these experiences we've got a lot of other next generation demos at open world for you to see but thank you very much and with that back to you Ron D and Max guys Thank You Justin Thank You Winston's great demo so what you've just seen is an example of how we imagine one of the finance processes leveraging the new redwood design paradigm so as matt said earlier this is not just building a brand new skins or making it look nice we actually really we thinking about from a back office perspective how can we actually make the experience really productive and the VP of Sales and Finance like what Matt said earlier we expecting them to spend a lot more time really understanding how to steer the business of a particular situation the example they just saw there is hey this is a booking business booking is looking good but the revenue recognition is not there until the fitness machines can be provisioned into the customers environment and for me to do that I need to make sure that I have more suppliers and also have got the project managers to be able to deploy those machines so by actually having that kind of information at the fingertips through a very simple user experience through our digital assistants together we've got all the machine learning automation behind the scene combining with some of the third-party data like IOT it makes the olp really actually think in the past and we're actually doing a lot more of the imagination one business process at a time and many of these capabilities are going to be coming in the next set of months to come now speaking about innovation beyond just all the annual revenues experience and all the late generation AI machine learning we also have a lot of capabilities targeted as well as really specialized for the different industries the communities is having a lot of progress in many many different industries as we continue to work with our customers we got a lot of feedback about the depth that they would like to get to so let me just give you a few examples there these are all by the way being announced in this particular conference now first thing is for higher education and higher education is particularly concerned about making sure the students be able to get the appropriate financial support financial aid so they can actually achieve their academic career goes Vaccaro is a company that or who acquired last year it was the best day of the art financial aid and student financial planning system on the market we've looked at pretty much everything so now we are now able to offer Vacarro student financial planning as part of our ERP cloud as part of our student cloud initiative to our higher education community not that colleges automates all the complex processing within a financial a process connecting with all the different federal data sources and be able to kind of continue to keep up with the compliance the most important thing there is as the intelligence to let the student advisors and the students to plan the courses based on kind of the available financial support that he can get from the government now next lease accounting now many of our customers have to support IFRS 16 SCA 4 - where a lot of the leases traditionally attract operationally off-balance-sheet and have to be higher on balance sheet now this is something that is particular to a number of different industries in particularly in retail or any of kinda as intensive industries so we're now able to offer lease accounting as a standard brand new financial module in the system to allow you to track all that compliance and counting on a regular basis next joint venture management this is in particular targeting the energy sector as we actually started get more and more of our customers getting into a community from the energy sectors in addition to the core finance management they have a lot of joint venture portfolios that they need to manage many of the contracting many of cannae the automated invoicing across the different partners within joint venture can now be automated through the joint manager management solution but more importantly we are also supporting a lot of business analytics to allow our customers to manage the profitability as well as the DP NL with deep down support across the entire portfolio their IOT monetization this is something that we've talked quite a lot in different slides early as well as cutting the demo subscription management is something that many of our customers are going through from the product base selling into more of a usage base and consumption based selling model clearly this is something not just about the back office the front office needs to have the appropriate way to model the subscription contracts by kind of the different metrics that you have be able to actually build your customers accordingly be able to satisfy the appropriate referee condition rules based on 6:06 and at the same time you have to deal to Rinat with neo cycle this is a ante and for lifecycle management subscription management was a new module that we announced last year for ye RP now this year we have extended that solution to integrate it with a lot of companies I would heat devices many of the IOT device telemetry czar tracking usage of the device and that's a basis for a lot of metering for billing purposes but in addition to doing that we felt like that it's extremely important to allow our user base our finance space to leverage the data to drive opportunities where there's an upsell renewal opportunities or cross our opportunities the machine learning and AI included will be able to learn from kind of experience to be able to recommend to the user base what these opportunities are over time now as I said before technology's great the innovations are great but it doesn't really mean anything until call our customers can appropriately get onto the journey adopt a solution run on a solution robustly and successful they continue to drive the value with even ongoing innovation there are lots and lots of things within our company beyond just the investment of the technology that we are focusing on to make sure our customers can get the best value out of that this is what we meant by customer first and also the partnership that we have with the customer so man is going to tell you a little bit about how we encourage obviously you've seen a lot of technology from Oracle a lot of applications broad breadth of offerings that we have in place in the first challenge that we get with some customers is where do we start and how do we start and what's the business value of shifting to the cloud and how can we can help you treat that particular process and also you're not moving from nothing you've got something in place already is there any way we can fast track that migration and get that information seeded and quickly so the functional startup has done faster so that we can actually move at a pace that make sense but it's also not just that by getting started it's also having the full support through that entire lifecycle as you continue on that particular journey so we look in detail a little bit more in terms of our commitment to your success we start off with having a series of business advisory capacity where we can build that business case for you and generate that ROI it's extremely important as part of these transformations is to establish these metrics upfront and not only upfront but to continue to refine those that continue to look at the value realization and optimizations as you progress through this particular journey and we've got individuals on staff that can help you through that and build those business cases with you and it's not just Oracle it's also reaching out to our partner community we've got a very extensive partner community that are trained up and ready to deliver on these implementations we have a lot of certification programs in place so you know there are experienced individuals and not just individuals who are straight out of class out of school and ready to do that information for you and last but not least you have ourselves and development we're more than happy to provide a level of over on your projects we're more than happy to get our product experts involved in your implementations to give you advice as to how to move forward to keep you up to date on our roadmap and where things are going and we've also invested fairly heavily in centers of excellence and in customer success functions so that we continue and manage the momentum as we go forward in terms of fast tracking last year we did a nine store for Oracle ERP cloud where we could take existing infrastructure with a series of utilities and tools in quickly migrate you into an Oracle cloud ERP this year we've extended that to include peoplesoft we've extended that to include Hyperion so it is an offering from our services team that will continue to advance and move forward we're starting now to expand that to include industry coverages for financial services for healthcare for other industries as well but it's our continuing investment to get you proven to move quickly and adopt the cloud faster now beyond adoption clearly for customers who have been operating on our cloud there are lots and lots of input and recommendations from the community on how to make their operational efficiency better and more robust now the optimization there has a lot to do with our ongoing operational procedures and introduction of kind of the new capabilities on a regular basis I'm gonna talk about that how do you actually support our customers change management as they actually go through the release now in addition there are lots and lots of people in the community that are sharing a lot of capabilities and best practices and ideas I'm gonna get into that as well so let's start with a few things that we introducing in operational excellence now first of all in the last couple of years we have converted our release model into a quarterly cadence model so our releases are very predictable and this is not just about ERP this is across every single cloud service within Oracle across all the properties whether it's a front office CX my back office ERP even the technology products so every single year we have full release updates 1918-1919 C 19 D 28:20 B so it's very very predictable and the fact that Chi is predictable we make life easier for our customers to absorb and adopt changes so over weekend we're able to update thousands of environments without even a hiccup and we continue to spend a lot of time to drive down the downtime there are lots and lots of improvements let me down to kinda like just a handful of hours we've collided the intention that we're gonna drive down to close to zero downtime now as or who is introducing a lot of capabilities based on the direct collaboration and input from our community we spend a lot of time to figure out how we can make the capabilities introduced such that our customers don't have to spend all the time managing the changes between different updates so the strategy that we have is a straight opt in policy so what that means is even or who is rolling our hundreds of new capabilities each quarter in a quarterly release you as a customer operating on the production environment do not have to spend time to consume all of that so if you care about that you can turn on a switch in our functional setup manager you will actually be exposed to the guidance and a configuration to turn it on and so for example we're introducing a brand new user experience that happens to overlap with kind of how you do things before we give you at the time to control when you're going to change your install base the user base over from the old to the new you have come like a set of months to understand the impact as well as training the users for that so our up in focus and policy is basically direct feedback from our customer base okay they will be able to manage the adoption of the technology at your own pace now last but not least as we continue to roll a lot of these releases the input of these new capabilities are coming largely from our install base from the customers in the community just last year long we've introduced over 1500 features and this is across the broad DLP everything that I talked about across the six pillars and more than 50% of these capabilities are from the rec feedback from the customers where they are adopting or whether they have been using for a little while that they needed the capabilities to continue to innovate all that is ticking into the roam app consideration by the development team able to deliver the value to you which is much more relevant to kind of the people you'll be able to absorb that at your own pace customer connect this is our community that we have established for a little while now we have a lot of people in there we have lots and lots of experts from our customer base sharing lots of different ideas now what's new there is we've created an ideal lab which allows our customers to voice their particular requests is if they have a good idea they can submit the idea into the ideal lab the product managers as well as kind of their peer customers can vote on it such that kalila the capabilities if there's a high vote the development team and the product managers in the teams are gonna be able to respond that with the appropriate return in terms of kind of timing and role map and so on but this is a community where there are lots and lots of vibrant activities in there there are lots and lots of great ideas there's more than technology how people acted deal with change management or any ongoing adoption of new innovation this is kind of the place to be now that doesn't actually replace all the face-to-face interaction clearly a lot of people like yourself on now in Oracle OpenWorld or in the spring modern business experience where there are lots and lots of communities as well as interaction between the product development teams as well as kinda key user base and we encourage and we really appreciate all the input from all these different forums and the last piece is innovation so as Ronnie is mentioned before this is a journey it doesn't stop when you go live next quarter there's another release coming out with more features and more innovation you can take advantage of so we are encourage you to really embrace these new approaches you'll be learning and using a different intellectual muscle as we try to automate more of the mundane and you're going to be spending a lot more time dealing with the insights and the analysis that needs to be in place and dealing with new technologies so we are encourage you to embrace that and get into a self learning experience it's one thing for us to deliver the innovations it's another thing for you guys to apply them we would encourage you to do that there's nothing that excites both Randhir myself more than actually getting that feedback from you in terms of we've done a good job we've done a bad job we've done an okay job with respect to the features that are in place that feedback loop is extremely important rewarding for our developers and we hope it's very rewarding for yourselves so you can take advantage of that and so we do want to encourage you to really look at that really apply that and really move towards this culture to ipace change so you are consistently doing it and driving this and movie these things forward at a pace that makes sense business is not static I think Ron Diaz mentioned status quo a couple of times status quo is a wonderful UK band from the 80s and that's it in business it's not a good thing it's good for you know 12 bar boogie but that's about it so we are really encourage you to make that change and make that cultural shift and continue your journey as you continue to innovate and drive things forward so ultimately what we'd like to do is actually get some real customers on stage and actually have a conversation with them and so they can explore with you just their journey what they've done what they've learned what advantages they've taken from deploying the applications themselves yes so we're ready to introduce our first customer but before we do that let's throw a video [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] [Applause] so ladies and gentlemen please welcome executive vice president of finance Coast Joe Tim welcome Joe [Music] he's have seen so Joe to stop live can you tell us a little bit about yourself your role at cause and also currently the landscape at coast right now as a retail company so I'll eat all of Finance for Kohl's I've actually been at Kohl's throughout 20 years so I'll date myself for the innovation that I've seen but when I started at Kohl's we had 200 stores today we have almost 1200 and believe it or not we didn't actually track him to act digitally at all when I started so we launched a website which now is about 20% of our business so I kind of just tells you over that time the amount of transformation that's happened in retail it's ever-changing we need to be ever-changing so we have to meet the needs and wants of our customer to do that we have two priorities one is driving traffic the second is operational excellence so you saw driving traffic we do that through innovative partnerships such as our partnership with Amazon new product launches we just launched Nine West this week and continuing to make investments into a digital space operational excellence for us is about working in an agile environment and finding efficiencies and that's where we were Oracle came in for us so we actually just implemented European EPM when I sat at this conference last year we hadn't actually signed the papers and we implemented them over the last 11 months that we just finished our first monthly clothes successfully so we're pretty excited about the progress that we made over last year well that's excellent now before actually getting too much in Jenin you can tell us a little bit about the environment before what a complexity was like and so on so we are a simple environment despite being about 20 billion dollars in revenue we have one business unit that we operate in and we're actually just a us-based company so it does help in terms of simplicity from that perspective but although I've been up close 20 years the system that we used actually predated me so we have been using a peoplesoft legacy system for 20 years you can only imagine the amount of build ons that we've had to the system we are never on the most recent version because we didn't want to take the time to upgrade because there's a lot of resources a lot of effort so we did a lot of our work in Excel and that's where we did all our analytics so when we moved to the cloud it obviously gave us a lot more flexibility it heightened our control environment it gave us new reporting and al in our analytics so thus far were pretty happy with the experience that we've had and we don't rely on Excel every day to do what we need to do that's great so now clearly god this is a big transformation for Co so why did kind of this ERP cloud transformation at Kohl's make sense at this point so I don't think anyone wakes up and says hey I want to replace the financial system today it's a huge amount of risk and it's a big cost and being financial people there's not a huge tangible ROI we had to you guys we didn't have any we don't have any support for PeopleSoft anymore so the risk outweighed not going forward to do it so that's kind of where we landed we obviously did a lot of homework to understand where we wanted to be we chose Oracle to go with us in this journey you're a large company we want to make sure when you're a large company that we actually were still a focus that our voice would be heard we'd have a high level of customer service what I would tell you is the product didn't go seamlessly we had a lot of problems but or close with us throughout every step of the way and we successfully got that done which was fantastic one of the things that I would say is I had to give a bit of advice to all of you is you need to hold yourselves to the same accountability that you actually hold Oracle so as Rhonda knows we're gonna call you with emergencies and he's gonna make his team run incredibly fast your team needs to run with them they have to answer questions and they have to brainstorm and when you do that it lends to a very collaborative relationship which I think was truly why it was successful for us and then when they hand off that emergency you need to run just as fast to make sure that you continue to hit those milestones and that timeline and actually we finished this project one of Ron DS associates came and talked to us and said it was because of that collaborative environment is because we held ourselves to the same accountability as we held our vendor that they thought it went so successfully that's great like we were extremely excited working with Coast and clearly that was a pretty big hiccup to us the end of a cycle that was actually almost a go/no-go decision it was we were pulling all the stops out working collaboratively of your system really great as well as the coast team and our development team and make that happen so we're very pleased with yourselves and kind of very happy of the collaboration so you collect a lot of data both financially but also a lot from you know social sites and from general outside external sources how you're leveraging that in Coles to really drive business outcomes so we have a lot of data the best thing to unlock is knowledge from that data and that's what we're working towards every day from investments in technology we have over 60 million people who shop us half of those people have our Coles current credit card and another 25 million have some type of loyalty program with us that is a lot of data to tell you and inform you how do you want to be talked to as a customer what offers resonates best with you what product resonates best with you so we're always working through data the best thing that we can do with an Oracle system is really figuring out how to unlock that value for our business partners so they can make the right decisions so I was looking at your slides earlier about how much time we work I'm just getting the accounting done that's great but the true value that we can be as finance leaders as an organization has helped drive strategy and we can drive strategy through that data by giving them the right reports the right KPIs so we're month one month post live I think we still have opportunity to really bring in that new KPI data give them new reporting and help them innovate in their space but I would say data is central to every investment that we make within Coles notwithstanding Oracle as well yeah that's great now one thing that all of our customers facing during these kind of transformation is change management right that's almost kind of the number one most complex problem that people have to deal with beyond the technology change so what's this kind of strategy that Cole's actually deployed to accomplish what you have been able to do so I'd say change management starts at the beginning and it starts at the leadership level so first and foremost every person on my team knew that we supported this project they knew it was going to be a big transformation so we also went through kind of change management training I kind of look at it the five stages of grief you first have anticipation stage you don't know what's gonna happen how is it gonna change my job how is it gonna change me then they have to get to this letting go stage you got to let go of the old so you can embrace the future and bid waste through that project you're gonna end up in this disorientation phase you're gonna say why do I have to change it's too hard I don't know see where we're going I want to go backwards but then you're gonna sit down and reorient them and tell them hey this is why we're moving forward on that journey and you finally get this commitment phase and once you get to commitment that's what lends to success we showed our commitment a couple ways we pulled 15 people out of their normal finance jobs and said you are only gonna work on this project and the success of the implementation we backfilled them and so we created a whole new team that was her focus we co-located them with an IT team that was also dedicated to this project which i think was incredibly important because they had the same goals and the same accountability so it was never under any finger-pointing they work collaboratively to get things done we then also invested in a lot of training we actually trained 75 subject matter experts so no matter the question no matter the concern there was someone who is always going to be able to be there to address it for our associates and then I think last we did a lot of pulse surveys throughout this process so we can ensure that what we are training and what we were focusing on was what they really were stressing out about where their pain points were and we are addressing them consistently so I would say at the end of the day people got to that vision and now with the new experience they can definitely see it's gonna make their lives a lot easier yeah a lot of very good tips in terms of handling top-down but also actually have dedicated teams both in the business and IT and the appropriate training communications with the install of the user base that's definitely very good tips kind of I've seen in some other customers success stories as well so thank you for the words of advice and thank you for being here now at this point let us actually introduce the second customer on stage but before we do that let's play another video at true-blue we have a very important mission that's connecting people with work but it's even bigger than that the workers at true-blue are a force for good people scout is a recruitment process outsourcing business for an RPO we offer scalable services customized for our clients everything from on-demand recruitment to total workforce solutions and our industry-leading technology called of Phoenix true blues people management provides on-site support to the world's largest brands for hiring contingent or temporary workers not many people know that people management is behind some of the largest operations in America people ready is the North American leader in industrial and undemanding we have over 600 branches and our teams are embedded to help businesses and communities we do work that helps businesses run but we also help communities recover from devastation in 2018 true-blue was recognized by the National Association of corporate directors for having a truly broad definition of diversity and intentionally diversifying its workforce true blue ink and its businesses are more than just an industrial staffing company true blue and its employees are a force for good [Music] great so I'd like to invite on stage executive vp and CFO of true goo dyrdek gaffer [Music] [Applause] [Music] so Derek I'm gonna start this time why don't you tell us a little bit more about yourself and a little bit more by true-blue for the audience sure well I've been the CFO at true-blue for 15 years I've been at the company about 18 years so as with most CFO's I will receive the accounting and finance operations of course also corporate strategy reports in to the CFO organization and technology I've served on all the steering committees for technology and have been the business sponsor for this particular technology of about to talk to you today with Oracle great so before we get started when we level set give us a sense of the complexity that that you had before you started your journey yeah our journey started with us we were literally swimming in systems we had we were not on an ERP we were over 20 separate technology applications so though so very complex to keep things running we were spending the vast majority of our time just keeping the lights on and keeping things running and we've been very acquisitive we've done over 20 acquisitions some of that created some of that complexity but it also made it very challenging for us to quickly do integrations great great so obviously you did a shift to the cloud what exactly were the the values that you'd expect to get out of the move to the client what did you what did you encourage you to make that shift to climb rather than continue in on-premise yeah so if we break it down to the most strategic reasons our technology debt had just built up very heavy I mean with all of these detected these separate technology applications the footprint was rickety we had lots of downtime we just didn't have any time to innovate all of our time literally almost all of our time was going in to keeping those systems running and so it was both about alleviating some of that technology debt to moving to one system but also making the move to the cloud for a write of reasons which we'll talk about it was also about finding the right platform that we could invest in for the long term one we could build off of I mean we really wanted this to be our last technology implementation in our back office okay and your scope was a little broader than just ERP us because you've done some work with our hit cm solution as well yeah so the scope of our implementation is we started in January we did most of the heavy lifting in the first quarter with ERP and EPM and some continued implementation of some of the smaller pieces that afterwards also in the first quarter we went live with us payroll so we have operations in all 50 states that was a big implementation for us and then we implemented the rates rest of HCM and including some Canadian payroll in August so we just officially called implementation complete in August of those three pieces of the technology so the Eric you mentioned to me that there was some very interesting cultural aspect we think like your users community or finance community after deploying a cloud I clearly can't you have achieved better close efficiency but the fact that like the employees are getting excited can you tell us a little bit about what that means to you yeah really what was going on behind the scenes from a cultural perspective as our employees in our back office and from finance to HR to IT it had really grown they're gone apathetic to our technology I mean the basically the thinking process was well I invest my time and all of those different applications they're just gonna be changing anyway and so the excitement level of our team's being innovation focus on being operationally excellent I'm truly trying to get the maximum out of those was very low so one of the things I knew that was a piece that we had but I didn't expect how much excitement was going to come in bringing the technology solution on board that really has both shifted the perspective not just with implementation but energized the team but they feel like they got a tool where they can work on continuous improvement every month and so making it part of the day job so that was a piece of it also what went along is our teams were kind of fragmented we had the FPA and its team the systems there or accounting team and their systems and HR and their systems so much of the time was spent sometimes quibbling over who systems weren't working right and through this implementation it really has become one system and has brought all of these teams much closer now clearly the cloud provides a lot of capabilities as well as ongoing innovation now how's true bougar the leverage some of kind of these ongoing innovations for your particular business sokka like us a CFO can spend more time driving a business yeah well we are early in but we're already seeing some of those benefits may being talk a little bit about we're seeing right now and where we kind of hope to go and see some more opportunity we are getting a lot of efficiency just out of the workflow management that exists in some of the efficiencies whether it's around journal entries whether it's around the full perspective of the close cycle we a now have a full perspective of where we are in the close cycle so we've shaved our business closed processes is six days we've taken one day off of that we're down to five we can see ourselves at four by the end of the year so that's two days I mean that's a third of our closed process that gets some of that work behind us so we can shift a more value-added activities and get the financials out faster we've also got some nice cost savings rolling we've got about a 10 percent reduction going for external audit fees internal audit fees we're up over about to a five percent decrease in our finance run rate of spend because with one system were able to really leverage our global workforce and bring cost down so we're excited about that even more excited about where we can go and we can get into this with some of the questions on how to drive more business value through some of the technologies with AI and machine learning etc that's great now as we're coming to the end of the session for Jill and Derick can you actually share with us some last words of advice to the people here who are still actually thinking about where to continue on with the existing environmental a embark on a transformation project okay so I would you yeah well I would say one of the things is I think the idea moving to the cloud is about 10% of the challenge I'd say 90% of it is getting alignment in the organization from the CEO to the CFO to the rest of business if you've never went to the cloud there's just a lot of learnings going on there pick your implementation partner very very carefully very carefully not just the name but the actual people on the account know exactly what they've been through when you're doing your business case you know speak from a business perspective don't speak from just accounts payable perspective or the closed process but how many hours you're gonna take out oh you know the business and where this can really go and lastly I would say and maybe most importantly is that it really needs to be a business led initiative I think if you if IT is leading it know to service IET it's just too much to ask of them I think you're putting yourself at a lot of risk for a very troublesome implementation and then along the same lines you won't really have adjusted your your systems and organizational structure to make it sustainable moving forward it takes advantage of some of the more value-added aspects that come with the move and also actually getting the users a lot more excited about controlling the destiny right sure thank very good so Jill I know that kind of you offer some advices any order advices they'd really like to show of the group before we part yeah I think what I would say is I can't say enough dedicated team this is a huge transformation that you're making so you want to ensure that you're making the right investments you don't want to be penny wise pound foolish when you go through this so definitely dedicate the team make sure everyone understands that there is leadership support for this and that they walk into it with a really open mind it's not just a like-for-like you really want to innovate in the space because there's so much value that you can unlock from a cloud perspective I would say also make sure you take your internal and external auditors on the journey with you you don't want surprises at the end I know it's kind of tactical but it's unfortunately one of those unfortunate surprises that can lend there and I also say you want to pick your partner really carefully we did amounts of reference calls to make sure we felt comfortable with who we were selecting both from an Oracle perspective and for implementation partner perspective and what I would tell you is when we were working with Oracle we did have someone who we didn't like and they immediately replace them and if I'm gonna put a selfless plug in for Kim Johnson is like the most amazing support person we ever had she was my get done person all the time and you all need one of Kim Johnson so there's my self let's plug there the last thing I would do is tell you empower your team make sure that they know that they're empowered to make decisions they're the ones who use the system beforehand they're the ones who are gonna have to live in the system after so make sure they feel very empowered to make those decisions throughout the journey because you're gonna end up with a much better product at the end I think Kim Johnson's gonna be very busy for conference on so now thank you Joe Thank You Derek so really appreciate that you spend the time here and sharing with us your cloud journey and also kind of the ongoing partnership between our company and yours and really actually thank you for advice and really actually this is a great collaboration and looking forward to a strategic partnership going forward okay so as we're coming down to the end as we're coming down to the end of the session so I'd like to actually leave you with a few questions that you can take back to your office for those of you who have been sitting on a sideline still thinking about where this is Africa bowed to me I think question that I'd like you to ask yourself and your team is what is the opportunity cost of doing nothing how much risk would that be for delaying the decision and continue to be satisfied now for those of you who are already actually adopting in the middle of your journey what actually I'd like to encourage you to think about is what are you right now doing to a celery and maximizing your claw business value there are lots and lots of ways that you can continue the ploy continue to accelerate continue to leverage the best practices from the community so what will you do to accelerate and maximize the value now for those of you who have already gone through a journey and really adopting and optimizing and running very successfully the question for you there is there are a lot more that you can do what are you gonna do what will you do to become a future change agent in your company what's the possibility there and they're interested in hearing from you if you have a perspective on that now for the rest of the next two to three days there are many many different sessions that are related to your peak law as well some more additional details of what we've covered today so these are kind of all the sessions if you're interested now there's also another track called or who at Oracle this is relatively new in this conference this year the idea there is our Oracle internal business teams are going to share their own experience adopting cloud in running our forty billion dollar business and clearly there's a lot of things that they have pushed the boundary and continue to build a showcases and they are more than happy to share with you their own experiences and the perspective in addition to technology that you're learning right now so in these archives of the session dates and times so at the very end I'd like to actually thank you all of you for joining us to and thank you the customers speakers to join us in a session okay hope you enjoy the rest of the conference thank you you

Channel: Oracle

Views: 8,033

Keywords: GEN6242, Enterprise Resource Planning, Winston Wang, Keynote, EPM Cloud, Justin Grochoski, Enterprise Performance Management, Oracle OpenWorld, Jill Timm, Oracle Open World 2019, Oracle ERP, Financials, Matt Bradley, ERP Innovation, OOW, OOW 2019, EPM, 40151154, OW-19-19, Oracle EPM, User Experience Design, Apps, retire-2024, EVP, SVP, ERP Cloud, ERP, Applications Development, General Session, Oracle Open World, Product Development, Keynotes and Presentations

Id: iSxwzgJKKTc

Length: 86min 44sec (5204 seconds)

Published: Tue Oct 15 2019