Knowing exactly when to join the cloud can determine business success

Choosing to implement a new technology or system for your business takes planning – and with planning a certain timeline is put in place. Charles Whitmore, commercial editor at ERP Today, shares an article where they sat down with Rimini Street’s Frank Reneke, GVP and PMM of Oracle Applications and Technology, and Ryan Bendana, senior director of Global License & Advisory Services to discuss this integral part of a transformation journey and what Rimini Street’s Smart Path can do to help firms get a clearer picture of their future. “Embracing technology to create a competitive advantage is a natural stepping stone for any evolving firm, and is typically encouraged by enterprise software providers,” says Whitmore. Reneke was quick to point out how licensees will be encouraged to upgrade to the “latest and greatest functionality or move licenses to a subscription or cloud-based software program to make the most of the upcoming AI and ML capabilities. Additionally, despite the push for enterprise tech upgrades, 70 percent of the recently implemented ERP initiatives failed to meet their original business use case end goal. We need to create a better plan for IT, bringing attention to how a lack of understanding of IT capabilities could hinder software effectiveness. Typically, extending the life of your current ERP system can help you avoid expensive and potentially unnecessary upgrades while maximizing the value and current software assets you’ve already invested in, Reneke and Bendana point out. “The issue of cost is a universal concern,” they state, “and needing to spend even more money to upgrade legacy systems is potentially one of the biggest money sinks in the enterprise software sphere.” Further, “It just doesn’t make sense that the only way to get some relief in the increasing technical support costs, is to spend even more money,” lamented Reneke. “And it doesn’t solve your challenges or create an opportunity for you to tackle some of the initiatives you have in your own business.” Knowing when to implement a cost-saving ERP cloud system is also dependent on when you can fully shut down your old system – keeping in mind the licenses, support, updates, and security risks.

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