Cloud computing is on the rise, with companies estimated to spend roughly 28% of their IT budget on cloud solutions in 2022. That's an increase of 9% since 2018. The benefits of cloud computing have encouraged many companies to migrate their PeopleSoft human resource management systems to the cloud services of PeopleSoft's parent company, Oracle. Take a closer look at the advantages of PeopleSoft cloud migration.
It'll Save Money and Increase Your Profits
Migrating to the cloud is an easy way to save money and increase your company's profits. Oracle's research suggests businesses can slash their budgets by 38%, simply by converting to cloud services.
Most of the savings come from reducing or eliminating your company's investment in IT hardware and infrastructure. Saint Paul Public School noticed a 75% reduction in their infrastructure costs after migrating to Oracle's cloud services. With less hardware and IT infrastructure, businesses can also reduce their electricity bills and staffing needs.
Reducing downtime can lead to further business savings. Oracle prides itself on virtually zero downtime for its cloud services. Downtime costs businesses thousands of dollars every minute, plus untold damage to reputation and employee motivation, so reducing it should be a priority for all companies. Those cumulative savings can substantially boost your business's profits. Studies show Oracle's cloud-based solutions deliver more than three times the return on investments of on-premises applications.
It's Easily Scalable
The COVID-19 pandemic has helped businesses realize that it's difficult to predict what's around the corner. The Oracle Cloud HCM is scalable so it can easily adapt to your business's changing needs.
Traditionally, implementing new PeopleSoft modules for talent management, recruiting, and performance management was expensive. Businesses often needed to buy more disk space, extra servers, and memory to accommodate the changes. However, in times of recession or financial hardship, the additional infrastructure may go to waste.
After Oracle Cloud HCM migration, businesses can instantly scale their human resource management system up or down to reflect their current employee population. They also won't need to hire any additional staff to make these changes.
It Helps Your Business Operate More Efficiently
Moving your human resource management system off-site and into the cloud gives your employees one less thing to worry about. This helps your employees focus more on other work for increased efficiency.
Oracle also employs dedicated teams for monitoring cloud service performance and responding to requests. These focused teams feature employees trained to respond to your company's needs in a timely fashion. Many cloud processes are also automated to save even more time.
It Offers Real-Time Reporting
One of the most important automated functions of Oracle Cloud HCM apps on the cloud is its real-time reporting. Since it reports in real-time, businesses can feel confident knowing they're always dealing with the very latest data. Getting to-the-minute information helps business leaders make the most informed decisions and monitor their company's progress better.
It Helps You Innovate Your Business with Cutting-Edge Technology
Migrating to the cloud opens up the potential for more new tech innovations. Oracle Cloud HCM applications can be easily integrated with cutting-edge technologies including social collaboration tools and embedded business analytics. These tools can help you deliver a more modern service to your customers and track your business' progress better.
It's More Secure
Concerns about security remain a key barrier to cloud migration. However, businesses who migrate soon realize the cloud is much safer than they thought. Last year's Oracle and KPMG Cloud Threat Report found 73% of businesses believe Oracle cloud services are more secure than their on-site environment. That's so important when 71% of customers say they use Oracle's cloud for sensitive data storage.
Oracle's Gen 2 cloud features built-in security measures including isolated network virtualization layers and security controls, such as web application firewalls. These innovative measures ensure only authorized users gain access. That's a real comfort to users as incidences of cybercrime continues to rise. Last year there were 467,361 cybercrimes reported in the United States, at a total cost of more than $3.5 billion. That's more than a third of the total cost of cybercrime in the last five years.
It Updates Automatically
Using Oracle Cloud HCM lets your business benefit from any updates its developers make instantly. After migrating from PeopleSoft to Oracle Cloud HCM, the system installs any software updates automatically. This helps your business benefit from the latest technological advancements and security measures. As viruses and malware are constantly changing, knowing your business enjoys the latest security updates provides real peace of mind.
It Makes Backing Up Data Easy
Backing up business data is crucial for your peace of mind. However, manual backup processes are usually complicated, leading to inconsistent and unreliable results. Oracle's cloud service offers a much simpler and more effective way to manage backup and restoration. Businesses can simply subscribe to Oracle's Database Cloud Service or Database Backup Cloud Service for access to a fully integrated environment for backing up and restoring data and all the storage space they need. Businesses can also change their backup frequency and policies through the online portal.
PeopleSoft and Oracle HCM Work Seamlessly Together
There are many cloud-based services out there, so many businesses may wonder why they should choose Oracle. Oracle obtained PeopleSoft in 2005, so this company has a unique understanding of PeopleSoft applications and the way businesspeople like you use them. This understanding gives you peace of mind that you won't lose data or functionality when you're migrating from PeopleSoft to Oracle HCM. You cannot have the same confidence if you choose another cloud platform.
PeopleSoft to Oracle HCM cloud migration steps can be challenging if you aren't aware of all the technical and functional issues that could arise. That's why we recommend having an expert team like Dimension Systems in your corner. Our proven three-step approach will help your business migrate successfully with minimal disruptions to your regular operations. Complete our online contact form or call us at (248) 926-3400 ext. 233 to learn more about how we can help your company migrate and start enjoying all the benefits of running PeopleSoft with Oracle cloud services.