Oracle ERP Customer Base Shoots Up to 50 %
SMEs businesses that are looking to invest in ERP technologies have found a new business partner in Oracle. The company’s recent move to introduce ERP software into the SME market is a vision to help businesses embark on a cloud transformation journey. The technology company has taken a lead over traditional SME specialists in this segment. For most organizations, an investment in cloud-based ERP solutions is often the big push required to scale up large-scale IT operations.
Oracle’s ability to deploy ERP at low IT overhead costs will bring new opportunities and a focus on product design and development for organizations. Part of this initiative involves helping companies to learn new ways of working and delivering business value. Oracle’s success in getting best-in-class ERP solutions has helped the company record a 50 % growth is in its third fiscal quarter and has brought the firm new ERP customers.
"Our ability now to service much smaller customers than we could have serviced in the past is because the cloud allows you to deploy ERP in much, much lower costs. You don't have to have ERP. You don't have to build the data center. Obviously, you don't have to hire programmers. You don't have to hire a bunch of data operations people," said Larry Ellison, chairman and CTO, Oracle.
"Many of our on-premise customers have not moved and yet we're in a position where we can go get a whole set of customers that we never had access to before. Mid-market customers, we can do that globally and we can go now for customers that want to move to a SaaS application in the cloud and get all of those benefits. Frankly, our competitors' user bases have all opened up to us," he added.
The firm reported strong cloud growth in Q3 with revenues in SaaS and PaaS showing an 86% year-on-year increase. Oracle’s total revenue for the quarter showed a 2% improvement and net income increased by 5% to $2.2bn.