Next Generation growth engines for Oracle Apps in Financial Services
Oracle marks a new era for its apps with the introduction of Fusion this year. It has tried to combine the best in class technology and functionality from its acquisitions and bring the best for end users.
However let us discuss what can be the key growth drivers both Industry wise and Functionality wise which would drive the future of Oracle apps
Key growth industries
Banking and Financial services have been the key growth driver for Oracle apps and I feel it would still remain so, due to robust product capabilities. Following are some of the key growth industries within this vertical
a) Private Equity: The next generation would be dominated by private equity players who would bring a new wave of mergers and acquisitions in the industry especially in the financial services. Oracle needs to provide some plug in-plug out kind of acquisition playbook solution where they can deploy solutions rapidly to meet the industry needs
b) Microfinance: This is a niche industry and does not deploy high end apps for their day to day needs. But as this industry grows in new markets with the liberalization of economies they would try to be more techno savvy and integrated.
c) State Treasuries / World Bank: As the BRICS economies / developing countries grow in size, the state and federal treasuries in these economies would go for modernization using ecommerce. Same would be the case with organizations like IMF, ADB etc
The other industries which would provide growth triggers would be Insurance / Re Insurance, New Stock Exchanges in under Developed / Developing countries, Regulatory needs like IFRS and PSD
Key growth drivers for functionality
Existing customers would look at new product functionalities / features which would serve as the next generation growth engines, some of those are:
a) Single database / data ware house solution for Accounting, Reporting and Statutory needs
b) End to end solution like embedded imaging, spreadsheets etc
c) Simplify accounting and compliance
d) Reduce the management reporting / period close cycle
e) Real time access to information for different users of data
f) Sustainability reporting
g) Non financial reporting like corporate governance, EVA etc
Oracle would have to be very innovative to match its competitors for all the above. But the key mantra would be to keep it simple and reduce the time to market for the new industries and solutions.
