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Asian Firms Failing on Innovation Projects, Said an Oracle Survey

While 28 per cent of respondents cited ongoing inertia and resistance to change, 26 per cent said lack of process is hampering their innovation efforts

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Oracle Launches Intelligence Map for Close Look at Internet.
Witnessing double-digit growth in India for past 3 years: Oracle. IANS

Fewer than 20 per cent of innovation-focused projects are coming to life, primarily because of lack of focus and leadership, poor processes and an ongoing resistance to change, an Oracle survey said on Tuesday.

Two thirds of those surveyed said 80 per cent of innovation projects never make it to market while over one third of companies are overwhelmed by too many innovation projects, the findings showed.

“While Asia has taken a lead globally in innovation, the research confirms the growing feeling that there is an impending innovation winter coming,” said Andrew Sutherland, Senior Vice President, Technology and Systems, Oracle APAC and EMEA.

The survey of over 1,850 decision makers across the Asia Pacific region in the cloud solutions and software market also revealed that despite a clear link between growth and innovation, most of the companies interviewed have little plan to be proactive in innovation over the next three years.

Oracle office.

“In today’s highly competitive global economy, companies cannot afford to sit back. Those who do risk being outpaced with little hope of catching up. Instead, they need to look at the barriers and actively seek to address them,” Sutherland added at the “Oracle OpenWorld Singapore” event.

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While 28 per cent of respondents cited ongoing inertia and resistance to change, 26 per cent said lack of process is hampering their innovation efforts.

“Organisations are moving away from traditional critical success factors measuring success of employee productivity (52 per cent) and revenue (53 per cent) and increasingly looking towards areas like customer experience (57 per cent) and retention (52 per cent) as the key measures for Return on Investment (ROI),” the report added. (IANS)

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Oracle Dials SaaS 2.0 to Help Indian Businesses go Digital

Oracle, which is set to organise 'Modern Business Forum' in Mumbai on December 17 to tell a story about how it is accelerating customers' digital transformation in India, embeds AI and ML into SaaS applications

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Oracle
Oracle office. Wikimedia Commons

BY NISHANT ARORA 

Before the noise of Hybrid Cloud, multi-Cloud and various ‘As-a-Service’ offerings took over our minds, it was Software-as-a-Service (SaaS) Cloud model that ruled the industry as an ‘on-demand software’, which is only gaining momentum with the Industry 4.0 era.

California-based Oracle, which has been a pioneer in helping enterprises run their daily affairs across sales, marketing, HR and finance verticals with its Cloud applications, is now set to empower both large enterprises and small and medium businesses (SMBs) in India with the next-gen SaaS solutions.

According to Prasad Rai, Vice President, Applications, Oracle India, in India and globally, the number of companies choosing Oracle SaaS solutions over the competition is increasing.

“These customers are a mix of large firms, mid-size SMBs and Cloud natives. We have helped large and older firms like Indian Oil, Hindalco, Indian Hotels, SBI Card, Genpact and Sandhar Automotive in their digital transformation.

“At the same time, we have Cloud-native disruptors like Oyo Rooms, Rivigo Systems and KLAY Prep Schools in our customers’ list,” Rai told IANS.

The requirements for both the set of organisations is very unique.

“Oracle has understanding and dexterity to support customers of any size, with every thinkable requirement from any sector. We have customers from sectors like manufacturing, retail, hospitality, social welfare, engineering and construction, logistics, oil and gas, among others,” Rai elaborated.

According to Gartner, the SaaS market will grow up to $110.5 billion by 2020, from the current $94.8 billion.

Oracle Launches Intelligence Map for Close Look at Internet.
Witnessing double-digit growth in India for past 3 years: Oracle. IANS

SaaS has become a common delivery model for many business applications, including customer relationship management (CRM), management information systems (MIS), enterprise resource planning (ERP), invoicing, human resource management (HRM), talent acquisition, learning management systems, content management (CM), office software, payroll processing software, management software and so on.

According to Rai, Oracle Cloud applications, built on Machine Learning, offer the most complete application suite with the best technology, enabling fast innovation with a modern user experience and customer-first approach.

“In 2020, emerging technologies like artificial intelligence (AI), automation and Blockchain will cease to be emerging and will become the mainstay of Cloud computing in general and of the SaaS, in particular,” said Rai.

Businesses will invest in SaaS applications for churning out business intelligence.

“The organisations will incorporate analytics-based AI and ML to monitor and improve their core as well as secondary functions. In 2020, marketing and automation are likely to become more synonymous as marketers will use automation across their tech stacks, from their email marketing tool to their accounting system and CRM,” he explained.

Till now, businesses are using SaaS on providing core functions like HR, finance, operations, etc.

In the coming times, according to the Oracle executive, businesses will seek vertical-specific SaaS solutions.

“Though Blockchain has not gained much steam in SaaS, in the coming year, however, it could pick up a significant amount of speed,” he added.

The SaaS market has been growing over the past few years and with the advent of the industry 4.0 era, the scope of the growth of the SaaS market is not going to diminish soon.

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According to Rai, the real opportunity for technologies like AI and ML, IoT, Blockchain, containers and serverless and human interfaces is to enable companies to embrace innovation on a scale as we’ve never seen before.

“Enterprises have gone from experimenting with these technologies in a sandbox to implementing them for mission-critical applications, to building new business models and creating business value,” he said.

Oracle, which is set to organise ‘Modern Business Forum’ in Mumbai on December 17 to tell a story about how it is accelerating customers’ digital transformation in India, embeds AI and ML into SaaS applications.

“For example, built-in AI tools are integrated into Oracle CX applications that better predict account health, deliver next-best-service actions, automate answers, and provide a more personalised service,” Rai informed. (IANS)