How to Budget Oracle Cloud ERP Implementation Cost

Successful Oracle Cloud ERP implementation is often characterized by clear, concise goals.

Should an organization fail to establish clear objectives, then it’s impossible to accurately measure ROI and determine the functionalities a business needs. Combined with the fact that an estimated 45% of ERP projects go over budget, it’s evident that technical guidance and thorough goal planning are core ingredients to a successful Oracle Fusion Cloud ERP implementation proposal.

For more guidance and information on Oracle Cloud ERP implementation, the cost of Oracle Cloud ERP implementation, their benefits, and why businesses budget for ERP systems, continue reading today’s blog.

What Is an ERP System?

Enterprise Resource Planning (ERP) refers to the software that businesses use to manage operational business activities such as:

• Accounting
• Procurement
• Project management
• Supply chain management
• Risk management and compliance
• And more

In addition to improving scalability and system efficiency, ERP systems help businesses expedite customer responses, eliminate repetitive tasks through automation, improve team collaboration, and consolidate and better protect company data.

How to Implement Oracle Cloud ERP

What is an Oracle Cloud ERP implementation? Knowing this lays the foundation for implementation. With this in mind, there are three main approaches to ERP implementation, each with inherent pros and cons depending on an organization’s IT infrastructure. These three approaches include:

• Phased – Sequential Oracle Cloud ERP implementation process that is executed by business department, manufacturing facility, location, and more. It provides low implementation risk but takes longer to implement and adopt. Errors can be fixed faster but it can be taxing for end-users if changes continually occur.
• Parallel – Parallel methodology is when a new ERP system is integrated with existing legacy systems. While implementation risks are lower, data synchronization issues can occur as running two systems simultaneously is technically demanding and complex.
• Big Bang – Requires in-depth planning as this approach seeks to deploy the ERP software business-wide in one go. This includes sales, finances, marketing, and manufacturing. Deployment risks are higher, ERP implementation costs are lower, and the pressure on the team to adopt is higher but only one-time training is needed.

The Cisco Oracle Cloud ERP implementation is one of the largest ERP implementations success stories, helping Cisco to replace several legacy systems with Oracle’s ERP system, including financial, supply chain, and human resources management systems.

Factors Affecting Oracle Cloud EPR Implementation Costs

Oracle Cloud ERP implementation methodology is also influenced by a variety of factors, such as the Oracle Cloud ERP implementation timeline and required functionalities. These factors not only impact the cost of Oracle Cloud ERP implementation but also support capabilities. Additional factors to consider include:

• Modules being deployed
• Processes in each module being deployed
• Integration with other systems
• Training
• Deployment
• Maintenance
• License fees
• Company budget
• Numbers of users
• Tool customization
• Data migration difficulty
• Overall Oracle Cloud ERP implementation cost and upgrades

What ERP systems Are Available With Oracle?

There are several Oracle ERP cloud implementation modules for businesses to consider.

These modules provide teams with advanced capabilities, such as using AI to automate manual processes or using analytics to react to market shifts in real time, the capabilities are vast. All the same, these ERPs include:

• Oracle E-Business Suite (EBS) – EBS is a comprehensive suite of business applications that integrates a wide range of business processes and functionalities, including finance, procurement, manufacturing, human resources, and supply chain management.
• Oracle Fusion Applications – Oracle Cloud Fusion Applications is a suite of enterprise applications designed to manage enterprise functions including financial management, project management, procurement, supply chain management, and human capital management.
• PeopleSoft – PeopleSoft is an enterprise software application that provides HRMS (human resource management system), financial management, and supply chain management functionalities.
• NetSuite – NetSuite is a cloud-based ERP system that provides functionality for financial management, supply chain management, project management, and e-commerce.
• JD Edwards EnterpriseOne – JD Edwards EnterpriseOne is an integrated ERP software suite that provides comprehensive ERP functionality, including financial management, supply chain management, manufacturing, project management, and asset management.
• JD Edwards World – JD Edwards World is an ERP system designed for small to medium-sized businesses that provides functionality for financial management, manufacturing, supply chain management, and asset management.

Now, let’s take a look at how the cost of implementing Oracle Cloud ERP is structured.

Oracle’s ERP Pricing

Oracle Cloud ERP implementation costs can vary depending on various factors, such as the number of users, the complexity of the implementation, and the specific features and functionalities required. Here’s a brief overview of the pricing models for each ERP system:

Additionally, it should be noted, Oracle ERP Cloud systems are cloud-powered solutions that do not support a perpetual license – only a monthly or subscription-based software license. Should a non-Oracle ERP system be considered, be wary of hidden costs.

Oracle Cloud ERP Implementation Costs

The costs of Oracle Fusion Cloud ERP implementation can vary significantly depending on the size and complexity of the business, the scope of the implementation project, and the level of customization required. A short breakdown of how businesses incur costs during Oracle Cloud ERP implementation includes:

• License Fees: The cost of licensing Oracle’s software can be significant, particularly for larger organizations or those that require a high degree of customization.
• Implementation Fees: These are fees charged by implementation partners for the actual deployment of the software and related services such as project management, customization, and data migration.
• Training & Support Costs: Employees will need to be trained on how to use the new system, and ongoing support and maintenance may be required.
• Hardware and Infrastructure Costs: Organizations may need to invest in new hardware or other infrastructure to support the Oracle Cloud ERP system, such as servers, storage, and networking equipment.

In terms of financing, businesses can finance Oracle Cloud ERP implementation by tapping into discretionary budgets, using funds set aside for physical capital investments, taking out business loans, or through investors. Alternatively, profits can be temporarily reduced to finance the project.

If your business is considering Oracle Cloud ERP implementation, we can help businesses navigate the challenges of implementation, from project planning to deployment and ongoing support. Our team of experts has the expertise and knowledge to ensure that your implementation project is successful and that your business realizes the full benefits of Oracle Fusion Cloud ERP.

Our rationale for providing Oracle Cloud ERP implementation services is rooted in our commitment to delivering value to clients. By helping businesses optimize processes and adopt cutting-edge technologies, we help them achieve their goals

Ensure Successful Oracle Cloud ERP Implementation With NexInfo

By implementing an Oracle Cloud ERP system, businesses can revolutionize their operations and achieve unprecedented levels of efficiency, productivity, and profitability. With the ability to eliminate manual processes, streamline operations, and gain unparalleled visibility into their business processes, companies can unlock a new level of growth and success.

By partnering with NexInfo, an Oracle Platinum Partner and a leading provider of ERP consulting services, you can confidently navigate Oracle Cloud ERP implementation challenges and achieve maximum ROI. Our team of experts offers unparalleled expertise and experience, ensuring that you receive a customized ERP solution tailored to your specific needs and requirements.

Don’t delay the opportunity to transform your business. By budgeting for an ERP system today, you can align your business for long-term cost savings and stay ahead of the competition.

Contact us today to learn more about how their ERP consulting services can help your business achieve unparalleled success.