Survey Finds That Governance, Risk and Compliance Tools Can Help Mitigate the Risks of Enterprise Application Upgrades
COLLABORATE ’11, ORLANDO, FL – April 12, 2011
News Facts
Oracle today announced the results of a new survey of Oracle Applications Users Group (OAUG) members conducted by Unisphere Research, a Division of Information Today, Inc., that examines the challenges of upgrading core business applications.
Sponsored by Oracle, the survey of more than 400 IT and business executives found that governance, risk and compliance (GRC) management best practices can help mitigate the risks of enterprise application upgrades.
According to the survey, 80 percent of organizations that recently completed an upgrade to their enterprise resource planning (ERP) systems encountered issues, including unexpected changes to applications setups, business transaction disruptions, inadvertent errors, and business downtime.
A majority of respondents said they employed formal GRC methodologies to streamline implementations and minimize risk during the upgrade process, with 56 percent stating that managing operational risk and business process controls was either a “critical key factor” or “very important” in their decision to upgrade.
To ensure compliance, risk management, accuracy, transparency and reliability in key IT initiatives, including enterprise application upgrades, 50 percent indicate that their organizations incorporate GRC-based internal controls.
Yet, 40 percent report that too much staff time is consumed managing compliance and risk issues, with more than 20 percent still approaching controls with manual processes.
428 members of the Oracle Applications Users Group (OAUG) participated in the survey, with respondents from IT and business roles representing a wide variety of organizations of different sizes and from different industries. A full copy of the results is available here: www.oracle.com/us/solutions/corporate-governance/moving-new-erp-environments-351076.pdf.
Supporting Quotes
“For anyone involved in upgrading an ERP system, having knowledge of practices that can protect information assets while minimizing interruptions to business and operations is incredibly valuable,” said Mark C. Clark, president of the OAUG. “The results of this study highlight critical areas that should be given serious consideration during the planning, budgeting and implementation phases of any application upgrade.”
“As this survey shows, upgrading core business applications raises many questions and challenges for organizations of all sizes,” said Joe McKendrick, lead research analyst, Unisphere Research. “To streamline the process it is critical to first understand the challenges organizations face and this is exactly what Oracle is doing with this survey. The results show a huge potential for GRC best practices to guide the success of enterprise application upgrades and I am sure the findings will be of benefit to OAUG members and Oracle ERP customers overall.”
“In the name of implementation speed and efficiency, risk and control considerations are often overlooked during ERP upgrades,” said Chris Leone, group vice president, Oracle Applications development. “OAUG members confirm such an approach can come at a considerable cost. Going live without the appropriate controls in place can leave an organization vulnerable to control deficiencies, fraud and error, and revenue leakage. Oracle Fusion Governance, Risk, and Compliance applications couple advanced risk analysis, automated controls enforcement and fraud prevention to help organizations ‘design in’ controls upfront and avoid expensive post-upgrade retrofitting and audit work.”
Supporting Resources
Oracle GRC (www.oracle.com/us/solutions/corporate-governance/index.html)
About Oracle Applications Users Group (OAUG) (www.oaug.org/portal/page?_pageid=1015,1&_dad=portal&_schema=PORTAL)
About Unisphere Research (www.dbta.com/About_US#Unisphere)
Survey: Moving to New ERP Environments: 2011 OAUG Governance, Risk, and Compliance Best Practices Survey (www.oracle.com/us/solutions/corporate-governance/moving-new-erp-environments-351076.pdf)
About Unisphere Media
Unisphere Media, a division of Information Today, Inc. is a diversified information company that provides independent editorial content and peer-based market research to targeted IT communities through its own print and electronic media, and custom and contract publishing. Unisphere Research, the company's market research unit, conducts proprietary, custom research projects in conjunction with the top data management and IT user groups, as well as with other leading industry communities. Unisphere has pioneered user group-based research and has built its editorial products in conjunction with its user community-based market insight. Through service to a variety of specific user communities, Unisphere's media and marketing products reach the full information management marketplace both as a whole, and through specific segments. For this reason, over 400 IT-oriented companies have chosen Unisphere as a marketing partner, and the company has grown from one print magazine to an integrated media company with close to 20 specific vehicles serving the IT universe.
About the Oracle Applications Users Group (OAUG)
Founded in 1990, the Oracle Applications Users Group (OAUG) is the world’s largest user knowledgebase for Oracle Applications users. The organization serves as an advocate to Oracle Corp. for companies worldwide, including more than 35 percent of the companies on the Fortune 100 list. The OAUG provides users with education, networking and support via a wide range of activities and forums including conferences, publications, special interest groups and online communities. For more information about the OAUG, visit the website at oaug.org (www.oaug.org/) .
About Oracle Applications
Over 65,000 customers worldwide rely on Oracle's complete, open and integrated enterprise applications to achieve superior results. Oracle provides a secure path for customers to benefit from the latest technology advances that improve the customer software experience and drive better business performance. Oracle Applications Unlimited is Oracle's commitment to customer choice through continuous investment and innovation in current applications offerings. Oracle's next-generation Fusion Applications build upon that commitment, and are designed to work with and evolve Oracle's Applications Unlimited offerings. Oracle's lifetime support policy helps ensure customers will continue to have a choice in upgrade paths, based on their enterprise needs. For more information on the latest Oracle Applications releases go to www.oracle.com/applications (../../Templates/www.oracle.com/applications) .
About Oracle
Oracle (NASDAQ: ORCL) is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our web site at www.oracle.com (www.oracle.com/) .
Trademarks
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Contact Info
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Danielle Cormier
Oracle
+1.610.766.3463
danielle.cormier@oracle.com (mailto:danielle.cormier@oracle.com)
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Sarah Wroble
OAUG
+1.678.781.7236
sarah@williammills.com (mailto:sarah@williammills.com)
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