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OracleVoice: Why And How You Must Replace Your Ford Pinto Of A Financial System

Forbes - Tech

Finance leaders are recognizing that their current ERP systems, often heavily customized and woefully behind on updates, are becoming an albatross--and they're moving quickly to explore new applications. An Accenture survey of some 250 finance executives found that their organizations have adopted blockchain, in-memory computing, artificial intelligence, and robotic process automation at nearly the same rates as mobile, data analytics, and cloud technologies. But implementing such modern technologies while clinging to old processes and organizational structures built on old ERP platforms is like replacing the engine in a Tesla with one from my first car (a 1972 Ford Pinto). You'll end up stranded on the side of the road while others speed by your expensive heap. "If you automate an inefficient process, you just get bad data faster," said David Axson, managing director of Accenture, during a session at Oracle's Modern Finance Experience conference in Boston recently.