Businesses are now recognizing the value of cloud-based applications in upgrading their businesses

Since the pandemic made remote working possible, every company was forced to adopt cloud platforms. Trends in cloud computing are prevalent in fields including corporate operations, system infrastructure, and application and infrastructure software.

In this interview Kaushik Mitra, Senior Director, Cloud ERP, Oracle India describes how cloud-based companies have expanded significantly over the past few years and have significantly changed organisations across a range of industries, also how cloud-native software is notably assisting the industries in simplifying both external and internal operations. Excerpts:

Please elaborate on some of the recent major trends in the cloud applications space. What are some of the innovative capabilities technology players are now building into their applications portfolio?

Kaushik: With traditional IT ecosystems, businesses often had to plan and invest in infrastructure well in advance, making it difficult to respond quickly to changing market environments. Cloud computing enables more efficient and faster business operations adaptation and operation in changing market environments. Cloud computing has influenced people's and businesses' behaviour over time, allowing multiple lines of business to work around technology policies. 

By implementing cloud solutions, organisations can effectively support key business activities, migrate business workloads to a cloud platform, and avoid network latency. To remain competitive and deliver solutions that are up to date with the industry requirements, technology providers are launching new and improved cloud solutions while also improving the capabilities of their existing ones. For instance, to provide continuous innovation to our customers, our Oracle Fusion Applications are updated quarterly, and new features and capabilities are added every 90 days with almost no downtime or business disruption.

Where do you see a shift when it comes to the priorities of business leaders when it comes to technology adoption? What are some of the core processes for which businesses have upscaled their cloud investments?

Kaushik: With the advent of digital transformation, technology has become a priority for business leaders, and they no longer see it as an add-on to existing processes. Rather, technology has evolved into the architecture upon which processes are built. Business leaders at all levels – CIOs, CEOs and CXOs across industries are recognizing the importance of technology in optimizing their operations. They are becoming more involved in the technology ecosystem, taking an active role in making technology investments, evaluating the benefits and return on investment (ROI), and relying on innovative capabilities to drive growth. 

According to a report by IDC, the Indian public cloud services market is experiencing significant growth, with a projected value of $13.0 billion by 2026, growing at a CAGR of 23.1% from 2021-26. The report also highlights that in the first half of 2022, SaaS has remained the largest component of the overall public cloud services market, followed by IaaS and PaaS. This market dominance of SaaS indicates that businesses are recognizing the value of cloud-based applications in upgrading their businesses. Going forward, we can expect more businesses to embrace SaaS as their preferred choice of technology in the future.

Some of the core processes that businesses are looking to transform with cloud applications include both internal and external processes. These processes range from planning and management to supply chain management to financial management to HR processes to customer experience processes. Cloud ERP solutions, for example, remain an important process enabler for businesses to transform their internal processes. In terms of market growth, Valuates predicts that the global Cloud ERP market will grow at a CAGR of more than 5% between 2022 and 2028. 

This growth is driven by the increasing adoption of cloud-based technologies across all industries, as businesses seek to modernize their operations and stay competitive in the rapidly evolving business landscape.

Please provide an overview of the capabilities and evolution of cloud-based EPM and ERP solutions over the last few years.

Kaushik: Enterprise Performance Management (EPM) and Enterprise Resource Planning (ERP) solutions have been rapidly evolving over the last few years, as the market dynamics changed, and business requirements expanded. Even though ERP systems have been in use in the business domain for some time. However, ERP and EPM systems have evolved in today's world, and they are now primarily cloud-native. When it comes to cloud-based EPM and ERP solutions, they have the ability to coordinate resources, activities, and tasks across multiple departments and teams on a larger scale.

Additionally, cloud-based EPM and ERP solutions can offer real-time visibility into business operations, allowing managers to quickly identify potential issues and take corrective actions. This can help businesses make more informed decisions, improve operational performance, reduce costs, leading to increased efficiency and productivity, as well as improved customer satisfaction. Overall, the use of cloud technology has revolutionized the way that businesses access and utilize ERP and EPM solutions. Cloud computing has increased accessibility, and cloud-native ERP and EPM solutions can now be accessed from remote locations using web access and a mobile or laptop device.

What are some of the internal operations pain points that your customers have been able to resolve with Oracle's cloud applications portfolio?

Kaushik: Oracle has been collaborating with various leading industry players to help businesses address various challenges in today's digital landscape. These challenges range from flexibility to automation to scalability to user accessibility and mobile enablement, among other things. Compared to other Software-as-a-Service (SaaS) providers, Oracle stands out as the only cloud player that can provide businesses with everything they need to run a true cloud business. This includes complete end-to-end solutions, modern business processes, and the flexibility to change.

For instance, one of India’s leading manufacturers, Apollo Tyres is leveraging Oracle SCM solution to create smart, transparent, and streamlined supply chains. Hindalco, another leading manufacturer, is using our Oracle EPM solution to cost-effectively streamline its financial management and regulatory reports by leveraging data and smart automation. Similarly, the leading logistics provider, Safexpress uses Oracle ERP and OTM solutions to fine-tune their logistics operations. 

The BFSI sector continues to be a key focus industry and a significant contributor to our ERP revenues. We are helping BFSI clients such as SBI General Insurance to become digitally empowered organizations utilising our Oracle Fusion Cloud ERP Solution. 

In addition to these, we have customers in the IT, Healthcare, and Pharma sectors who are leveraging the capabilities of our Fusion ERP solution to improve their internal business operations, such as Mphasis, Omega Healthcare, and Aurobindo Pharma.

Data and Analytics are now recognized as a strong enabler for making smarter business decisions. How is Oracle integrating these technologies into its cloud offerings?

Kaushik: With the proliferation of technology and the internet, individuals and organizations generate vast amounts of data every day. The data generated by individuals and organizations can provide valuable insights into consumer behavior, market trends, and other critical factors that affect businesses' operations. By analyzing this data, businesses can gain a better understanding of their customer's needs and preferences, identifying new opportunities, and making informed decisions that can help them grow and succeed. 

Cloud computing has become a crucial tool for businesses seeking to leverage data as an asset. By combining cloud computing and analytics, cloud providers such as Oracle offer businesses the necessary infrastructure and tools to store, interpret, and process large amounts of data efficiently. With cloud-based analytics, businesses can quickly and easily access and analyze their data from anywhere, using any device. This enables businesses to make faster and more accurate decisions based on the insights gleaned from their data.

We have been collaborating with organizations around the world, including those in India, to provide the best data analytics capabilities. Data is at the heart of our Fusion Applications stack, enabling our customers to make faster and more accurate decisions.  

When it comes to sector-specific cloud offerings, what are some of the products and solutions that Oracle has pioneered with the healthcare sector in mind, and how can they help healthcare providers in the new normal? Please elaborate in the context of some healthcare customers?

Kaushik: In today's fast-paced and rapidly evolving business environment, organizations need agile and scalable systems to meet new market demands and seize new opportunities. This is particularly important in the healthcare industry, where organizations face unique challenges and opportunities. 

As a strategic partner, Oracle works closely with healthcare organizations to provide them with the technology roadmap they need to maximize their access to data, tools, and resources. 

The global pandemic has made all of us realize the importance of the Healthcare sector and how much it’s critical for healthcare organizations to be equipped with the latest technology so that their daily operations can run smoothly. At our flagship event, Oracle CloudWorld 2022 in Las Vegas, we launched healthcare-specific applications - EPM, SCM, and HCM for healthcare developed specifically to meet the diverse and large-scale needs of healthcare providers. We cater to various hospitals, pharmaceutical and health insurance providers in India, including Indira IVF, Apollo Hospitals, Omega Healthcare, Fortis Hospitals, Shri Ganga Ram Hospitals, SBI General Insurance, IndiaFirst Life Insurance, HDFC ERGO, and others. 

ESG has become a major priority for both individuals and businesses and how should businesses embrace technology and implement sustainable supply chains in the coming years? How does Oracle support organizations' ESG mandates?

Kaushik: ESG and sustainable development has gained significant attention in recent years, and it has now crucial for businesses to prioritize sustainable business practices. Consumers today are more knowledgeable and aware than ever before about the impact that companies have on the environment and society. Oracle No Planet B survey, 2022 indicates that in India 97% of people believe sustainability and social factors are more important than ever, whereas 85% of people would withdraw their relationship with a brand that does not take social initiatives and sustainability seriously. 

It’s evident that consumers want to support businesses that are committed to making a positive difference, and they are willing to do their research to find those companies. Many businesses are now using technology to make their supply chains more sustainable, and intelligent technologies like Cloud computing, Artificial Intelligence, Machine Learning, Analytics, and more are playing a vital role in this process. 

Numerous organizations, both in India and globally, are leveraging Oracle Supply Chain Management (SCM) solution to establish sustainable supply chains. By utilizing Oracle SCM solution, companies can optimize their supply chain operations, reduce waste, and minimize their carbon footprint. This enables organizations to conduct their business in an ethical and eco-friendly manner while also boosting their operational efficiency and competitiveness. Leveraging Oracle Fusion applications, many global and Indian organizations like Unilever, Tetra Pak, Safexpress and Apollo Tyres, are developing sustainable and environmentally-friendly business practices.