Preparing to Adopt ERP Cloud - A Step-by-Step Cloud Migration Checklist

JANUARY 15, 2022 06:00 AM

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In the past, migrating to the cloud was reserved for larger companies operating in multiple locations; however, whether companies of various sizes will migrate to the cloud is no longer a question of 'if' but 'when.'

Facts to Think About Before Moving to ERP Cloud

Current Trend: The cloud-based ERP market is increasing and is projected to grow to $37 billion by 2024.
CFO's Trust: Many CFOs are looking for a cloud ERP with features like a comprehensive global solution for organizations of any size and industry. Finance and IT leaders who truly understand cloud technology know that Oracle Financials Cloud has complete solutions like security, uptime, remote access, revenue recognition standards, governance, and risk management tools.
ERP Cloud - Need of the Hour: Almost every organization has at least one application in the cloud. However, now that numbers continue to grow and organizations are moving their critical applications to the cloud, they are also aware of its associated challenges and risks. To manage this, CFOs choose the right Oracle Cloud partner to better position themselves and manage the impact of cloud computing on their business.
Cost-Effective: After moving to the cloud, operational costs are less expensive than a hybrid of on-premises and cloud operations. Many organizations are moving towards the cloud as the total cost of ownership for cloud ERP is comparatively less than an on-premises solution.
Business Impact: The processes are more efficient and productive.

Steps Involved in Oracle ERP Cloud Migration:

Planning: Any good plan will always start with brainstorming. The major challenge has always been understanding what opportunities or limitations the migration will bring to the business. Ensuring you have expert help right from the start is essential if you want to develop an effective strategy tailored to your organization's needs.
Choose a partner: Hiring experts to assist you through the project will give you access to years of experience. You will have professional guidance to ensure you choose solutions that meet your needs while remaining compliant with industry standards.
Journey to the Cloud: The best way to develop a practical roadmap for your ERP Cloud migration is by understanding where you are and determining where you need to go. This clarity comes from assessing your current processes - a comprehensive audit will help you identify opportunities.
Implementation Steps: A comprehensive audit will also help you determine the beneficial solutions and how to implement them. This enables you to use current resources better, as well as change management, process navigation, and project guidance.

Do you have an effective cloud migration strategy? Consider the tips above when developing your plan for a smooth transition.

FAQs

What are some key benefits of migrating to an ERP Cloud system?
Key advantages include cost reduction due to lower total cost of ownership, improved business process efficiency, enhanced access and security, and compliance with industry standards (such as revenue recognition). The cloud provides a comprehensive global solution, supporting multiple locations and remote access. It enables better financial planning, analysis, reporting and streamlines processes like subscription billing.
What are some challenges and risks associated with cloud ERP migration?
While advantageous, migrating to the cloud presents challenges such as managing the impact on business, ensuring security, maintaining uptime, and navigating the complexities of change. Successfully mitigating these risks often depends on selecting the right partner for guidance and implementation.
What is the importance of choosing the right partner for ERP cloud migration?
Selecting a qualified and experienced partner is crucial. Experts can provide professional guidance and solutions tailored to your needs while ensuring compliance with industry standards. They assist with planning, implementation, and strategic advice, leveraging their experience to navigate complex projects. A good partner also helps you develop an effective cloud migration strategy.
What steps are essential for a smooth ERP cloud migration process?
The key steps include planning, choosing an experienced partner, a comprehensive process assessment, developing a detailed roadmap, and implementing the selected solutions with strong change management and project guidance. Effective communication and adherence to established protocols are also critical for success.
What services does SMACT Works offer related to ERP cloud migration?
SMACT Works provides end-to-end consulting and managed and implemented services for Oracle Cloud Applications. This includes Cloud Advisory, Project Management, Technology Consulting, Managed Services, and Strategic Staffing. They also offer support and guidance throughout the entire migration process.

Failing to adhere to processes and protocols can result in serious consequences for your organization, such as losing your license. If you're considering migrating to the ERP cloud, consider seeking a qualified and experienced partner to guide you through the process to reap the benefits in areas like financial planning, analysis, reporting, subscription billing, and revenue recognition. Start today by contacting us!

About SMACT Works

SMACT Works is a technology-focused systems integrator and IT/ERP consulting firm. We deliver end-to-end consulting, managed, and implementation services for Oracle Cloud Applications, IaaS & PaaS, On-Premise PeopleSoft & EBS Applications. Headquartered in Dublin, OH, we have a global presence with North America and Asia offices. We are an Oracle Gold Partner Cloud Standard, ISO 9001, and 27001 certified delivery organization serving customers with Excellence and Integrity.