Peloton Group's business is helping clients implement ERP, analytics and other enterprise applications, and it learned some valuable lessons to share when it consolidated its own financial systems on Oracle ERP Cloud at the beginning of the year.
"As we've been scaling our business rapidly, we were looking to get efficiencies and keep our costs associated with the finance function down as we're trying to serve our clients, and make sure we have good transaction processing and financial reporting, " said Guy Daniello, founder and CEO of the Boston-based provider of advisory, consulting and managed services.
"Oracle financials and projects [two components of Oracle ERP Cloud] allowed us to be able to manage and monitor our own business effectively."
Daniello discussed Peloton Group's experiences implementing Oracle ERP Cloud in a video interview at Modern Finance Experience, an Oracle conference held recently in Boston.
Managing the change to Oracle ERP Cloud
The company, already undergoing major change as a member of the Inc. 5000 list of fastest-growing private companies in America, saw significant change-management challenges from the new user interface and business processes that came with the Oracle ERP Cloud deployment.
"That was one of the things we really learned: You had to plan for [change management] early and keep reinforcing that," said Matthew Conner, a vice president who heads Peloton Group's Oracle ERP Cloud practice.
"We were probably the worst customer that we could ever be for ourselves," Conner said. "Consultants naturally want to just figure stuff out on their own. So, once we showed [our employees], 'Look, we have all these training materials, make sure you go through and read it,' then we solved those issues."
As an all-Oracle shop, the company found ERP integration generally wasn't an issue, with one exception. "One integration that was a little difficult was the banking integration … working with the bank to get all the banking data so that we could get it into the application," he said.