As transformational IT has increasingly become a business imperative, implementation partners have been looking to strengthen their value proposition for their customers. To differentiate themselves from transactional service providers, the more proactive partners are evolving their offerings and approaches, thereby becoming more strategic than they had been in the past.
While IT leaders can maximize the opportunity arising out of this shift by leveraging the partners’ strategies and advanced capabilities, it’s important for them to maintain focus on the risks. Here’s a look at how implementation providers are evolving and how CIOs should approach partnering with them for mutual success.
There is a perceptible change in the way implementation partners are now approaching their clients as compared to earlier, and it is all about becoming a strategic partner for transformational change.
“A partner now enters an account with a broader area of engagement in mind. The discussions may be around a specific project with a CIO, such as implementing a typical solution like Oracle or SAP ERP, but the partner’s core agenda is to bring about an extensive and comprehensive transformation of the client’s IT infrastructure,” says Harnath Babu, CIO at KPMG.
“As the project progresses, the partner discusses the CIO’s pain points and what could alleviate them. This could invariably lead to the partner’s scope getting expanded into, but not limited to, managing emerging technologies, enhancing cost and operational efficiencies, bringing about automation, application development, or improving the system of records,” he says. “Implementation partners are clearly moving from the earlier point approach to a transformation approach.”
Sharing an example of this as it unfolded at KPMG, Babu says, “We engaged with a system integrator to help us with L1/L2 support. In a short time, we scaled it to L3. We found that we could also leverage the partner for managing our infrastructure. Next, we asked the partner to help us with POD development as it was a big challenge to find skilled resources,” says Babu. “So, what started as an L1/L2 service engagement, eventually led to infrastructure management and resource augmentation.”
The POD, or product oriented delivery, is a software development model that entails building small, self-sufficient cross-functional teams that take care of specific requirements or tasks for a project.
Takeaways for CIOs from this trend: Leveraging one partner instead of many frees up CIOs and their teams from more boilerplate deployments, allowing them to focus on what is core to the business. “An implementation partner looks at the total value generated from an account. Therefore, if a CIO gives value to the partner, the latter will reciprocate. This will deliver CIOs the confidence of having a strong partner behind them. There can then be a project director to manage the project on a day-to-day basis and the CIO can intervene only when there is budget or strategy involved,” says Babu.
With the aim of adding value to their customers, implementation partners are increasingly realizing the importance of building technological expertise.
“To keep pace with the market and stay relevant, implementation partners are building on human capital and expertise. For instance, most partners lacked competency in cloud as there wasn’t much requirement related to it in the past. However, as cloud is gaining a strong traction, they have also upped the ante,” says Subramanya C, global CTO at business process management company Sagility (formerly HGS Healthcare).
So, when Subramanya decided to move the company’s SAP, SharePoint portal, intranet, and other applications to the cloud, he roped in a partner who had a Center of Excellence on cloud and 12 to 15 subject matter experts (SME) on the technology.
“Partners with such capabilities were not seen in the past,” he says. “More than 100 servers had to be migrated in a few weeks. Immense planning, resources, and mitigation of risk were involved in the project. However, the partner’s strong technical expertise, which formed the basis of the center of excellence, made sure that the project got completed smoothly and as per the scheduled plan,” says Subramanya.
Takeaways for CIOs from this trend: Although implementation partners can provide deeper expertise than they could in the past, IT leaders should not be complacent when enlisting it. “For complex projects, like ours, strong governance is required from the enterprise technology leader’s end,” Subramanya says. “IT leaders can outsource a task or an activity to a partner and their SME, but they can’t outsource their responsibilities. Therefore, we ensured a strong governance framework was in place while implementing this project. We also had our own SME working in close collaboration with the partner’s experts.”
The evolution of technology, driven by modernization of applications and services, is catalyzing collaboration among system integrators.
As Archie Jackson, head of special initiatives, IT, and security at digital transformation company Incedo says, “I have seen system integrators coming together to offer solutions, a trend that wasn’t visible in the past. Today, products don’t work in silos. One product has multiple linkages with other products, and it orchestrates and expands into other areas. For instance, a security solution today is not limited only to the network. It is connected to end point and applications, too. Therefore, one project could spill over to another. A partner, however, may not have the expertise or the bandwidth to execute everything, which leads to collaboration with other partners.”
Incedo was in talks with a partner some time back for implementing managed links for connectivity. The end-to-end managed service would have offered remote connectivity to access corporate network from anywhere in the world.
“During the conversations, the partner suggested he could bring another implementation partner to enhance the cybersecurity of the links. It came across as a logical fit because the links had to be secure, but I had not seen a partner collaborating with another one like this in the past,” says Jackson. Takeaways for CIOs from this trend: One implementation partner bringing another partner may help a CIO, but it could also increase the cost of the project. “This is a good option only if a CIO wants to build capability. The primary partner will build his margin into the project for which he is getting the second partner, thereby increasing the cost for the CIO. If CIOs have the capacity to architect a solution more efficiently, they should do so in-house,” says Jackson.
The UK's central bank is on the hunt for a service partner as it plans to expand its finance, procurement, and recruitment applications into the Oracle Cloud.…
According to a procurement note, the Bank of England is looking for an IT services company to "support the implementation of technical and change management aspects of the Oracle Cloud implementation and business change programme."
The chosen supplier will be expected to support a program that provides a "step change in the capabilities and value delivered by the finance, procurement and recruitment functions in the Bank, leveraging the existing Oracle Cloud toolset to drive sustainable business change."
The contract is expected to last 55 months, with the potential to extend for a further 24 months, and will be worth up to £7 million (c $7.9 million).
The move follows the implementation at the Bank of Oracle Fusion, Big Red's cloud application platform for HR, in late 2021.
The new partner will be expected to "review and rebuild" the "way all tasks, processes and outputs are achieved and will leverage the Oracle Cloud toolset to help drive business change."
The Bank of England, also known as the Old Lady of Threadneedle Street, first advertised its mission to move its applications and infrastructure to the public cloud in 2020. In a procurement document published at the time, the institution said it was working on a "strategic plan, 'One Bank, One Mission' which provides an ambitious agenda to transform." The goal was to "create a single, unified institution" and understand in "more detail how the benefits of cloud services (public) could be secured."
LinkedIn profiles suggest the Bank of England was already using Oracle for HR. It also deployed Oracle databases but used SAP for supply chain management.
In 2009, it contracted outsourcing company Logica to develop HR services for benefits, talent management, and payroll administration software based on Oracle HCM under a five-year deal.
The Bank of England was founded in 1694, beginning life as a banker to the government. It issued its first banknotes in 1725, the highest denomination being £90. In 2021, the bank introduced a new £50 note, the first to feature Alan Turing, the Second World War code-breaker and one of the founders of modern computing. ®
Home meal kit provider HelloFresh will lay off more than 600 employees, several outlets reported, citing California state records, making it the latest company to reassess its headcount as employers fear the economy could slide into recession.
told Business Insider (HelloFresh did not immediately respond to an inquiry from Forbes).HelloFresh, which took off during pandemic-related shutdowns, cut 611 workers workers and shut down a California production facility this week as the company focuses on “newer, more efficient sites,” a company spokesperson
announced it will lay off 19% of its workforce, as the California-based company struggles with a decline in demand for plant-based meats driven by inflation as consumers opt for cheaper alternatives, company officials said.Beyond Meat
reported citing unnamed sources familiar with the proposal, following a disappointing company financial forecast in July it blamed on a “sudden and rapid” economic decline, while its shares shrank by more than half over the past year, to $25.04 (Intel declined to comment).Intel could reportedly cut more than 22,000 of its 113,700 employees (roughly 20%), Bloomberg
Bloomberg, one week after the company implemented a hiring freeze, and less than a month after the Wall Street Journal reported it’s reorganizing departments and giving some of its 83,553 staff a month to apply for different positions within the company—although a company spokesperson told the news outlet this week that Meta is “firmly committed to New York.”California-based Meta plans to close its Manhattan office, unnamed sources told
at least 150 of the 500 workers employed by the Vision Fund, the Japanese conglomerate’s venture capital arm, which would would affect roughly 30% of staff, according to Bloomberg, a move that SoftBank’s billionaire founder and CEO Masayoshi Son hinted at last month after a record $23 billion quarterly loss (it’s unclear whether the layoffs will affect employees at the Lond0n-headquartered fund’s two U.S. locations in Silicon Valley and Miami).SoftBank is prepping to cut
7,400 employees (roughly 670 employees), the company announced in a Securities and Exchange filing Wednesday, saying the cuts are “necessary to ensure we are capitalizing on our long-term opportunity and setting up the company for future success.”San Francisco-based electronic signature company DocuSign will lay off 9% of its more than
KCCI reported, following the banking giant’s decision earlier this month to cut roughly 75 in its home mortgage division (Wells Fargo did not immediately respond to an inquiry from Forbes).Wells Fargo reportedly announced plans to lay off 36 employees, bringing the bank’s total layoffs since April to more than 400, Iowa CBS affiliate
startup incubator Area 120—they need to find a new internal role within three months if they want to stay at Google, the Journal reported.In a similar move, Google also alerted about 50 employees—roughly half of those employed at the firm’s
KCRG reported, citing a spokesperson who said the move is necessary to “better align with the current needs of our business” (Nordstrom did not immediately respond to an inquiry from Forbes).Clothing outlet Nordstrom plans to lay off 231 employees at an Iowa distribution center starting next month, local ABC affiliate
Wall Street Journal on Tuesday (A Gap spokesperson confirmed the layoffs to Forbes but would not provide further detail).Gap could cut as many as 500 corporate jobs from its offices in New York and San Francisco, as well as offices in Asia, unnamed sources told the
announced the move to cut 11% (roughly 800-900 of the company’s nearly 8,000 employees) on a company blog, saying the workforce grew “too fast” and “without enough focus” over the past two years.Twilio CEO Jeff Lawson
Axios reported, citing unnamed sources, as the company looks to downsize its advertising team representing HBO, CNN, Discovery, Turner and Warner Bros. Entertainment, according to Insider, which also spoke to unnamed sources.Warner Bros. Discovery, which formed in a merger between the two production giants in April, could reportedly cut “hundreds” of ad sales employees from the WarnerMedia and Discovery sides of the company,
reported, citing people familiar with the plans.Goldman Sachs usually lays off 1% to 5% of its workers each year as a part annual performance reviews, but suspended this program during the Covid-19 pandemic—the investment bank suggested earlier this year it would reinstate the cuts, which are expected to be closer to 1% of workers across all sectors and could happen some time this month, the New York Times
merger between Beaumont and Spectrum, cut 400 corporate positions as the health care network struggles with “significant financial pressures from historic inflation, rising pharmaceutical and labor costs, COVID 19, expiration of CARES Act funding and reimbursement not proportional with expenses.”Beaumont-Spectrum, which formed earlier this year out of a
made layoffs in its home mortgage division that a source told Bloomberg encompassed fewer than 100 positions as the housing market continues to cool in the wake of rising inflation and the Federal Reserve’s exact rounds of interest rate hikes.Banking giant Citigroup reportedly
reportedly plans to cut up to 20% of the roughly 500 staffers at its Vision Fund three weeks after the fund posted a record loss in the fiscal quarter ending in June.SoftBank, the Tokyo-based investment management giant,
5,000 jobs as the scandal-hit bank seeks to turnaround its reputation and reduce costs, according to Reuters.Investment banking giant Credit Suisse could reportedly cut as many as
announced plans to lay off more than 1,200 employees (roughly 20% of its staff), in its second round of job cuts this summer, according to an internal memo obtained by CNN.Snap, the California-based developer of mobile app Snapchat,
Denver Business Journal that the cuts come amid an environment that will “likely continue to be marked by volatility” (VF confirmed the layoffs to Forbes but would not provide further details).VF Corporation, the parent company of brands such as Vans, Timeberland and the North Face, reportedly cut 300 employees and eliminated 300 open positions (less than 1% of its global workforce), with CEO Steve Rendle writing in an internal letter to employees obtained by the
TechCrunch—bringing the company’s total layoffs since December to roughly 4,000 as the company struggles amid a precipitous downturn in the housing market (Better.com did not immediately respond to an inquiry from Forbes).Online mortgage lender Better.com reportedly announced its third round of layoffs this year and its fourth in the past 12 months, laying off close to 250 employees, an unnamed worker told
announced the Boston-based company’s second round of job cuts since May in a move “to adapt to changing market dynamics,” and even though the company did not specify the number of employees leaving, LinkedIn reported it will affect 26% of its staff, which, according to the site TechTarget, would mean roughly 260 of its 1,000 employees.Artificial intelligence startup DataRobot interim CEO Debanjan Saha
cut spending as it transitions to producing electric vehicles, according to the Wall Street Journal.Ford announced it will let go about 3,000 office and contract employees as the carmaker moves to
Boston Globe, which stated the company was rebuilding after the Covid-19 pandemic but that their “team is too large for the environment we are now in.”Boston-based online furniture retailer Wayfair slashed 870 jobs (nearly 5% of the company’s 18,000 employees), according to an internal memo from CEO Niraj Shah obtained by the
statement on the company’s website, writing the cuts are essential in light of “current information on growth trends and market expectations.”Software company New Relic laid off 110 employees, including 90 in the U.S. (roughly 5% of its workforce), CEO Bill Staples posted in a
Inside Radio reported, with CEO David Field saying the cuts come “in light of current macroeconomic headwinds.”Philadelphia-based Audacy, the second biggest radio company in the United States, cut 5% of its workforce (estimated to be roughly 250 employees),
Meditation app Calm CEO David Ko announced plans to lay off 90 employees (20% of the company’s workforce) in a memo to employees, saying, “we as a company are not immune to the impacts of the current economic environment."
filing, in an effort to reduce expenses.California tech startup Nutanix announced plans to cut 270 (4% of its workforce) by the end of October, according to a Securities and Exchange Commission
reported, with the cuts coming in the company’s modern life experiences team.Microsoft reportedly laid off 200 employees, less than a month after the Redmond, Wash.-based tech giant announced it would cut 1% of its 180,000 workers, Business Insider
told Israeli newspaper Calcalist, “the world has experienced an economic crisis and we have seen U.S. GDP fall without growth.”Website design company Wix.com made its second round of layoffs this year, cutting 100 employees as company President and COO Nir Zohar
reportedly announced plans to cut 30% of its estimated 1,000 employees.Canadian social media management company Hootsuite
Groupon unveiled plans to lay off 15% of its workforce (500 employees), primarily in the company’s technology and sales departments, with CEO Kedar Deshpande writing in a message to employees obtained by Forbes, “our cost structure and our performance are not aligned.”
reported, citing anonymous sources.Snap started laying off an undisclosed number of its 6,000 employees, following a disappointing earnings report released last month, The Verge
iRobot, the maker of Roomba, cut 10% of its workforce (140 employees), as the company restructures after being purchased by Amazon for $1.7 billion, the company told Forbes, adding the job cuts were not related to the acquisition.
reported, stating the cuts come “in light of the challenging global economy and its impact on the gaming industry.”California-based video game developer Jam City laid off between 150-200 employees — roughly 17% of its workforce — VentureBeat
reported, citing anonymous sources.Walmart—the largest private employer in the United States—plans to cut 200 of its corporate employees as the company seeks to restructure, the Wall Street Journal
citing a drop in trading activity, high inflation and a “broad crypto market crash”—the move comes after Robinhood laid off 9% of its full-time employees in April, a set of cuts Tenev says “did not go far enough.”Online brokerage Robinhood cut 23% of its staff, with CEO Vlad Tenev
110 employees, or 45% of its workforce, as CEO Adam Gilchrist stepped down.Fitness company F45 Training laid off
announced, saying skyrocketing demand for online shopping during the pandemic has leveled off, and that the company made a bet that “didn’t pay off.”E-commerce company Shopify became the latest company to lay off employees, cutting ties with 1,000 (10% of its workforce), CEO Tobi Lutke
Boston Globe it now has 550 employees (meaning it cut close to 97) adding in a statement, “given how negatively the macro environment has evolved, we need to grow responsibly and control our own destiny.”Boston tech-watch company Whoop slashed 15% of its workforce, telling the
7-Eleven, which operates 13,000 convenience stores across North America, cut 880 U.S. corporate jobs, just over a year after it completed a $21 billion deal to purchase Speedway.
reported to be close to 200 workers, as the company navigates “uncertain economic conditions.”Seattle real estate startup Flyhome axed 20% of its staff,
announced on LinkedIn the online video company is cutting 6% of its workforce to “come out of this economic downturn a stronger company.”Vimeo CEO Anjali Sud
laid off 450 employees, nearly 35% of the company, as CEO Sean Lane admitted the company’s commitment to “act with urgency” led to a hiring spree that proved to be too much to handle, prompting him to “rethink this approach.”Ohio-based automated health software startup Olive
tweet it laid off 20% of its staff over fears of “broad macroeconomic instability” with the possibility of “prolonged downturn.”OpenSea, the New-York based non-fungible token (NFT) company, announced in a
TechCrunch reported, as it reels back from a “large and ambitious” budget it couldn’t meet amid fears a stunted market could fuel a recession.Online ordering startup ChowNow laid off 100 people,
cut 35% of its workforce amid a worsening “macroeconomic climate and global supply chain challenges.”Tonal, the at-home fitness company,
laid off 229 employees, primarily in its autopilot division, and shut down its San Mateo, California, office, just weeks after CEO Elon Musk sent an email to executives, saying he had a “super bad feeling” about the economy and planned to cut 10% of his workforce, Reuters reported.Tesla
Bloomberg, as the company moves away from a growth-at-all-costs model.Some 1,500 employees at the international delivery startup Gopuff were let go, (10% of its staff) and 76 of its U.S. warehouses were shut down, according to a letter to investors first reported by
announced plans to lay off 2,000 workers by the end of the year, bringing its 2022 layoffs to 4,800 — more than half of the company’s 8,500 employees — as the housing market “contracted sharply and abruptly,” CEO Frank Martell said in a statement.California-based mortgage lender loanDepot
unveiled plans to lay off 5% of the company’s 14,000 employees in areas that grew “too quickly” during the pandemic and to halt hiring of non-factory workers, according to an internal email from CEO RJ Scaringe, Bloomberg reported.Electric automaker Rivian
announced plans to lay off 17% of its workforce by the end of the year, with a goal of bringing in $100 million in annual mortgage-related revenue by 2028.Real estate firm Re/Max
laid off and reassigned more than 1,000 of its 274,948 employees, citing rising mortgage rates and increased inflation.JPMorgan Chase — the nation’s largest bank —
Compass and Redfin announced plans to cut 10% and 8% of their workforces, respectively, following a 3.4% drop in home sales from April to May, according to the National Association of Realtors, amid concerns the once red-hot housing market had cooled.Real estate companies
released after losing access to their work emails, marking an 18% reduction in the crypto company’s staff — a move that CEO Brian Armstrong called essential to “stay healthy during this economic downturn” — and a warning sign of a recession and a “crypto winter” after a 10-plus-year crypto boom.Some 1,100 Coinbase employees learned they had been
reports of a “spendthrift” business style had come back to bite the company.Used car seller Carvana CEO Ernie Garcia III sent an email to 2,500 employees — 12% of the company’s workforce — informing them they had lost their jobs, one week after freezing new hiring, as the company embraced for what looked like a looming recession in car sales, and
Many experts have warned the U.S. may be headed toward recession following reports the economy contracted 1.6% in the first quarter of the year. Those fears were reignited following the Federal Reserve’s announcement in June to raise interest rates by 75 basis points, its largest rate hike in 28 years. After the rate hike—the first of two from the Federal Reserve this summer—economists at S&P Global Ratings forecast a 2.4% drop in GDP by year’s end, a reverse in course from earlier forecasts of 2.4% growth. Bank of America issued a warning last month that “economic momentum has faded,” and a “mild recession” is possible by the end of the year. Then, for several months this summer, warning signs seemed to be tapering off. A report in August from the Bureau of Labor Statistics revealed an 8.5% spike in inflation from last July—a sign that the Federal Reserve’s interest rate hikes could be cooling inflation one month after a 9.1% year-over-year spike in June. By October, however, economists once again started fearing the bear market could deepen further into an unavoidable recession, even as a exact Labor Department report showed the unemployment rate hit a 50-year low of 3.5% in September—0.2% lower than expected. The number of new jobs, however, was the lowest since April 2021, with 263,000 jobs created, down from 315,000 in August. Meanwhile, new data from the Department of Commerce found the price of goods increased by a worse-than-expected 6.2% in August, a sign to economists that inflation is not letting up, with EY Parthenon predicting a recession.
In an interview with the Washington Post this summer, U.S. Deputy Secretary of Labor Julie Su said she was optimistic the economy will rebound, citing 9 million jobs created since President Joe Biden took office, and 372,000 new jobs in June. More exact projections indicating the economy’s seasonally-adjusted annual rate could grow by 2.7% in the third quarter also assuaged some inflation fears. Orion Advisor Solutions chief investment officer Tim Holland told Forbes, “we have a hard time believing the economy is in recession today.”
51%. That’s the share of corporate executives that have implemented or plan to implement job cuts, according to a exact PricewaterhouseCoopers survey of 722 executives. In addition to laying off employees, 52% of respondents said they’ve made hiring freezes or plan to.
As your business grows, you may invest in a greater number of software solutions to keep your operations moving forward. Businesses that reach this point often find it’s easiest to streamline all of their systems ‒ including accounting and financial management ‒ into one convenient enterprise resource planning (ERP) platform like Oracle NetSuite.
|Invoicing and bill pay||2.0/2.0|
As part of its robust ERP offering, Oracle NetSuite offers an intuitive cloud financial management solution that allows businesses to track their financial data and automate many essential accounting functions. Like any highly-rated accounting software, it offers reporting, planning, and billing features and easily integrates with other software, including Oracle’s suite of business solutions. It can also be used seamlessly with multiple currencies, so it’s a great option for growing companies with a global customer base.
If your business wants to expedite its accounts receivable and payable, accelerate deal closings, and keep up with financial compliance obligations, while taking advantage of a full suite of powerful business management features, Oracle NetSuite is an ideal accounting solution within an ERP platform.
|Base price||$999 per month|
|Invoicing and payments||Yes|
|No. of clients supported||Unlimited|
Because they can perform a wide range of complex business management functions, ERP platforms are typically priced on a custom basis. Factors such as business size, annual revenue and desired features all affect the cost of the software. Oracle NetSuite is no different, and to get an accurate price estimate, you’ll need to contact an Oracle sales representative. The sales rep will walk you through all the available features of the platform, including inventory management, financial management, point of sale, customer relationship management (CRM) and human capital management software
Based on our research, Oracle NetSuite pricing includes a $999 monthly licensing fee, plus a per-user fee that starts at $99 a month. While this base price can be used as an estimate, your costs may vary significantly depending on your specific business needs.
Because of its high price point, Oracle NetSuite is likely not well suited for a smaller business with simple accounting and bookkeeping needs. However, if your business is growing internationally and you anticipate needing an ERP platform to manage everything, this can be an excellent accounting solution that sets you up for financial success as your company grows. Thanks to NetSuite’s integrated ecosystem, you can save time and money that would otherwise be spent managing multiple software solutions from different vendors.
Key takeaway: Oracle NetSuite’s price varies depending on the different software modules required, the size of your business, its annual revenue and the number of orders your company processes.
Oracle NetSuite’s financial management solution offers a wide range of useful accounting features. Here’s more about how NetSuite can help growing businesses:
With Oracle NetSuite, your business can seamlessly combine its core finance and accounting functions with strong compliance management. This ERP’s financial management solution offers real-time access to your financial data to help you drill into important details, resolve delays, and generate compliance statements and disclosures for your stakeholders.
NetSuite provides the following basic accounting functions to streamline and simplify your financial processes:
Whether your business operates on a transaction, subscription, usage-based or hybrid model, Oracle NetSuite can help you manage your billing operations. It fully integrates into the platform’s advanced revenue management and compliance functions.
Businesses with financial reporting obligations can use NetSuite to easily comply with accounting standards, including ASC 605, 606 and IFRS 15. Using the platform’s rule-based event-handling framework, you can easily automate numerous revenue management and reporting functions, such as forecasting, allocation, recognition, reclassification and auditing.
NetSuite’s planning, budgeting and forecasting functions allow your business to plot out its financial future based on real-time analytics. Use your business data to forecast revenue, plot out what-if scenarios and develop accurate budgets. Oracle’s powerful reporting and analytics tools also allow you to gain a more complete picture of your business at any time to make better informed decisions about your finances.
If your business plans to expand its borders and go global, you need a financial management solution that helps you manage your international transactions and compliance obligations. Oracle NetSuite’s powerful financial engine gives you maximum transparency and visibility into your business across countries and in real time so you can manage your operations at the local and global level.
To make it easier to run an international business, NetSuite offers a variety of language interfaces to overcome language barriers and a multicurrency management system that supports over 190 different forms of currencies and automatically accounts for the current exchange rate for real-time conversion.
With Oracle NetSuite, your business will always be audit-ready. This ERP platform supports your company’s governance, risk, and compliance (GRC) programs so you can handle increasingly complex regulatory, operational, and compliance challenges as you scale.
The platform can also establish a sustainable risk management and compliance process for your company so you can anticipate major risks before they happen.
Oracle NetSuite offers seamless integration with all its ERP solutions and integrates with many leading business software providers. If you use other vendors to manage your operations, you can use NetSuite’s open APIs to introduce new integrations.
To take advantage of these integrations, businesses can hire a NetSuite dedicated implementation team for an additional fee. The team not only helps set up the ERP platform itself, but also assists with any additional integrations and project management planning.
Want to use Oracle NetSuite as part of a larger ERP solution? Your financial management processes will integrate seamlessly with Oracle’s full suite of products. This is helpful if you’re trying to gain a more holistic view of your business’s financial transactions, budgets and forecasts.
Here are a few additional useful functions you’ll find within Oracle NetSuite.
Stay on top of your warehouse ordering. This solution helps you ensure ideal quantities of each item you sell by automatically analyzing historical sales and logistics data. NetSuite can determine the best reordering time frame for each product and replenish stock to an optimal threshold when it runs low.
NetSuite helps companies with every sales or work order while providing real-time visibility into every step of the production process. This ERP’s end-to-end manufacturing software solution can help you run your entire business and make better-informed decisions.
NetSuite helps you seamlessly manage each point in your supply chain, regardless of where your physical product is manufactured or stored.
NetSuite helps businesses with inbound logistics, outbound logistics, and inventory management, streamlining your warehousing operations and helping you minimize costs for on-time delivery. The built-in warehouse management solution enables you to manage your distribution operations using customized user-defined strategies and advanced real-time updates and integrations.
With Oracle NetSuite, it’s easy to purchase goods and services for your business quickly and at the best prices. Real-time information helps you better understand your company spend and vendor performance while automation and workflow integrations deliver a more accurate procure-to-pay process.
Manage your team and your human resources processes with NetSuite’s HCM solution, SuitePeople. This solution allows you to streamline employee onboarding and information collection for new hires while also giving visibility into your workforce operations.
Did you know? Oracle NetSuite offers several key tools that are critical for financial management, including basic accounting functions, billing, revenue recognition, planning and reporting, GRC, and more.
For growing international businesses, Oracle NetSuite offers a robust, all-in-one ERP solution that puts your most valuable business data into a single platform. NetSuite’s full product suite allows your organization’s various departments and systems to operate harmoniously and in real time so every person in your company is always up to date.
Key takeaway: Oracle NetSuite provides just about every feature you could want in an ERP, allowing for a seamless single solution for managing all your operations.
In terms of accounting software, NetSuite may be prohibitively expensive for smaller businesses. Additionally, it may offer far more functionality than your business needs at this point in its growth, and you don’t want to pay for features you’ll never use.
Ultimately, NetSuite is ideal for midsize and large businesses operating a complex operation, as this ERP solution performs best when all of the modules are used in conjunction with one another.
Tip:The high price tag of Oracle NetSuite may be too much for small businesses with less complex financial management needs.
Oracle NetSuite delivers top-notch customer service across its entire ERP platform, including its financial management solution. The company’s educational resources deliver users the opportunity to learn about NetSuite’s full range of products and stay updated on any new features or capabilities.
NetSuite offers 24/7, real-time support for industries via phone, email and a built-in chatbot on its website. The automated chat functionality can answer simple FAQs or connect you with a customer service representative.
Key takeaway: Oracle NetSuite’s customer service is on a par with what you would expect from a world-class ERP solution, so you can count on being able to find answers to your questions and concerns.
The Veterans Health Administration's rollout of its Oracle-Cerner EHR system will not continue until patient safety concerns are addressed, according to Sept. 26 reporting in FedScoop.
VA Secretary Denis McDonough confirmed the news Sept. 26, responding to questions at an event hosted by the Defense Writers Group. Mr. McDonough confirmed that the VA is working through an implementation checklist with each hospital setting up the new EHR system.
The rollout was paused in June after a federal watchdog alleged that a flaw in Cerner's system caused harm to 148 veterans at Spokane, Wash.-based Mann-Grandstaff Medical Center.
"I think we've been clear that we have to be confident that these risks to patient safety are addressed before we go live. So we're not just focused on the passage of time between now and next year; we're focused on improving the system," Mr. McDonough said.
Becker's has reached out to Cerner and will update this report if more information becomes available.
Successful implementations completed for major healthcare networks
ALPHARETTA, Ga., Oct. 4, 2022 /CNW Telbec/ - Alithya Group inc. (TSX: ALYA) (NASDAQ: ALYA) ("Alithya") proudly announces the successful completion of seven Oracle Cloud Human Capital Management (HCM) project go lives this year, reflecting the continued strong performance of the company's dedicated Oracle practice. The seven completed implementations focused on the digital transformation of critical processes including payroll, performance, and other core human resources solutions, laying the foundations for future growth and efficiency.
Alithya's reputation as a trusted advisor for the implementation of Oracle Cloud solutions that connect and transform organizations continues to grow, with more than 3,500 Oracle ERP, EPM, HCM, SCM, and Analytics projects completed to date for more than 1,200 customers. Alithya's Oracle Cloud HCM implementation team relies on deep HR experience to guide clients on their journeys to Strengthen human resources, talent and workforce management, payroll, and HCM analytics processes.
Quote by Mike Feldman, Senior Vice President, Oracle Practice at Alithya:
"The completion of seven Oracle Cloud HCM projects so far in this calendar year is a significant achievement, particularly in a challenging economic climate. These implementations, as well as numerous Oracle Cloud ERP and EPM implementations, reflect the level of trust that our clients place in Alithya's unparalleled Oracle expertise in enterprise business application deployment."
Alithya is a trusted North American leader in strategy and digital transformation, employing a dedicated and highly skilled workforce of 3,900 professionals in Canada, the United States and internationally. Alithya's strategy is based on a plan of accelerated organic growth and complementary acquisitions to create a global leader. The company's integrated offer is based on four pillars of expertise: business strategies, enterprise cloud solutions, application services, and data and analytics.
About the Alithya Oracle Practice
Combining implementation and advisory services, Alithya's dedicated Oracle Practice helps customers manage their organizations more efficiently by connecting financial, operational, human resource, and supply chain planning across all business levels. Alithya has been a certified Oracle Partner for 25 years, and the Practice is supported by more than 300 certified consultants and multiple Oracle ACEs. Alithya also contributes in an advisory role to the Oracle Product Development team. In 2022, Alithya was named an Oracle Partner of the Year finalist for the Game Changer Award for ERP/EPM Service Delivery.
To learn more about Alithya, visit www.alithya.com.
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Offering helps organizations with accelerated, risk averse transformations by providing access to Oracle products, implement and support for a predictable monthly fee
NEW YORK, Oct. 10, 2022 /PRNewswire/ -- Deloitte today announced the launch of its Oracle MyCloud ERP offering that can help fast growth and private clients accelerate business transformation enabled by Oracle's modern integrated SaaS Cloud platform. Backed by Deloitte's proprietary industry accelerators and methodologies, the offering helps organizations to get up and running quickly on an Oracle Cloud platform while eliminating the barriers of talent constraints and high upfront costs, which are often associated with ERP implementations. The bundled subscription offering allows organizations to access Oracle Cloud products as well as Deloitte implementation and support services for a consistent monthly fee. This enables companies that are focused on growth to manage their cash flows and to continue to allocate their limited time and resources toward expansive activities.
"We are pleased to have the opportunity to use Deloitte intellectual property and knowledge to serve growth and private clients as they scale and drive their businesses forward. This offering demonstrates our commitment to this market and our desire to assist the leaders of tomorrow," said John Steele, U.S. Oracle offering leader and principal, Deloitte Consulting LLP.
For those interested in exploring Cloud ERP™ further, the starting place is a TruNorth Assessment. A quick, collaborative and effective approach that takes approximately three weeks. Deloitte helps prospects to envision the desired future state, identify transformation opportunities, and develop strategies and roadmaps for the journey.
Experience Deloitte's MyCloud firsthand
Deloitte is pleased to be the Global Sponsor of Oracle CloudWorld in Las Vegas, Oct. 17-20, 2022. This new global conference will bring people together to share ideas, develop in-demand skills and learn about cloud infrastructure and applications. Connect with Deloitte professionals at the CloudWorld Hub and attend a theatre presentation on MyCloud ERP enabled by Oracle Cloud.
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 415,000 people worldwide connect for impact at www.deloitte.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by certain ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
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SOURCE Deloitte Consulting LLP
The cuts affected workers at Oracle offices in Redwood City, Calif., home to the tech giant’s former headquarters. The jobs that were affected included data scientists, application developers, marketing specialists and software developers.
Oracle has laid off more than 200 of its workers in California months after reports surfaced that the tech giant was considering “thousands” of job cuts on the heels of its $28 billion Cerner acquisition.
The Austin, Texas company cut 201 jobs in total on Oct. 3 from its Redwood City, Calif. office, according to its Worker Adjustment and Retraining Notification (WARN) filed in California. The job cuts took effect Oct. 3 and was received by the California Employment Development Department Sept. 30, according to the WARN.
In a letter to the state obtained by CRN, Oracle said the layoffs would be permanent and said that its Redwood Shores campus would not be closing as a result of the job cuts. Oracle formerly housed its headquarters in Redwood City, but moved it to Austin at the end of 2020.
Among the jobs cut in this round, according to the Aug. 4 letter to the state from Anje Dodson, senior vice president of human resources at Oracle: data scientists, application developers, marketing specialists and software developers.
CRN has reached out to Oracle for comment.
As of this past May, Oracle employed approximately 143,000 full-time employees, of which about 48,000 are based in the U.S. and the rest internationally, according to a regulatory filing.
Oracle closed its acquisition of healthcare digital information system provider Cerner in June. The company began to notify employees of layoffs in early August, according to a report in The Information at the time. That matches with the date on the WARN notice, which states that this crop of employees received notification about the layoffs on August 4.
The company is the No. 1 employer in Redwood City, Calif. with over 6,500 workers there, according to the city.
A sign is posted in front of Oracle headquarters on December 09, 2021 in Redwood Shores, California.
Justin Sullivan | Getty Images
The SEC said Oracle violated provisions of the act between 2016 and 2019 when its subsidiaries in India, Turkey and the United Arab Emirates created slush funds used to bribe foreign officials. Oracle's subsidiaries also used the funds to pay foreign officials to attend technology conferences, according to the SEC.
The company did not admit to or deny the SEC's findings, and it will pay more than $23 million to settle the charges.
"The conduct outlined by the SEC is contrary to our core values and clear policies, and if we identify such behavior, we will take appropriate action," said Oracle corporate communications vice president Michael Egbert.
The company also settled charges in 2012 after Oracle India created millions of dollars of side funds, the SEC said.
Charles Cain, the SEC's FCPA unit chief, said in the release that the charges highlight a need for "effective internal accounting controls" at Oracle.
"The creation of off-book slush funds inherently gives rise to the risk those funds will be used improperly, which is exactly what happened here at Oracle's Turkey, UAE, and India subsidiaries," he said.