Closing the books in 12 days or less. Cutting the time for talent reviews by more than 70%. These are the kind of concrete benefits Oracle is getting from using its own cloud applications, benefits that CEO Safra Catz described on the company’s second-quarter earnings call on December 12.
The move to cloud applications and infrastructure has put the company on a path of ever-increasing efficiency, using the new capabilities and intelligent automation to continuously simplify its business model and processes. In turn, Catz said she expects the company’s revenue growth rates and its efficiency to increase.
Plus, Oracle and its customers are seeing another big bonus. “Though we have thousands of customers and references, our own experience adopting Oracle Cloud applications and infrastructure allows us to serve as a unique and knowledgeable advisor to organizations that want to know how to go about their own digital transformation,” Catz said.
Finance efficiencies. “With Oracle ERP Cloud, we are now able to close our books and report earnings in 12 days or less—while many companies don’t report their results for weeks,” Catz said. “And by using the AI and processes in Oracle ERP Cloud, we have been able to eliminate more than 30% of our manual accounting activities.”
Better HR processes. “With Oracle HCM Cloud, we have seen employee satisfaction levels soar with all-time high rates for things like hiring and onboarding new employees,” she said. “We’ve also made it easier for our managers and employees, as Oracle HCM reduces the time needed to complete the talent review process by more than 70%. And we’re saving more than 20,000 hours of manager time each year with our accelerated job offer process.”
Automated, data-driven sales, and marketing. “We’re using our front-office cloud platform augmented with machine learning and Oracle Data Cloud to help our salespeople sell more and sell more quickly,” Catz said. “With Oracle Marketing Cloud, campaign planning now takes days rather than weeks, and with built-in machine learning, we’ve seen a doubling in lead conversion. We automatically capture millions of activities in Oracle Sales Cloud each year. And with Oracle CPQ Cloud, ordering is much faster and easier, with over 70% of our transactions fully automated. We needed that to handle the increased volumes of transactions as a result of our customers’ move to the cloud.”
Lower IT costs. The company’s internal IT costs are down by millions, she said—even as Oracle is adopting more than 100 new cloud application features each quarter.