North Carolina has made a significant move towards modernizing its financial management system by transitioning to Oracle Fusion Cloud Enterprise Resource Planning (ERP). This transition marks a pivotal step in replacing an outdated mainframe system that has plagued the state’s agencies for 35 years, resulting in data silos and operational challenges.
Clayton Darnell, chief deputy state controller, highlighted the limitations of the legacy system, stating that it hindered operations by compartmentalizing critical data and requiring constant maintenance. The adoption of Oracle Cloud ERP is poised to revolutionize financial operations, promising greater efficiency and agility across state agencies.
Oracle Cloud ERP offers a comprehensive suite of financial management tools, including capabilities for financials, procurement, project management, and supply chain management. Additionally, the platform incorporates Oracle Cloud Enterprise Performance Management (EPM), which simplifies complex reporting and expedites decision-making processes.
Rondy Ng, executive vice president of Applications Development at Oracle, emphasized the importance for state agencies to embrace new technologies and foster a culture of continuous innovation to meet the evolving needs of constituents.
One of the key advantages of Oracle Cloud ERP is its self-updating feature, which ensures that customers receive the latest technologies every 90 days. This capability enables organizations to adapt swiftly to new business opportunities and stay ahead in a rapidly changing landscape.