ERP modernization has been going on for some time. Perhaps, slowed by the pandemic but still in full force. Today Mayo announced their ERP move.
Today in health, it Mayo clinic chooses Oracle fusion cloud application, suite. For its business processes
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And the treatment of complex diseases. Patients come to the Mayo clinic for answers to treatments they can get. So this is the marketing side of it. CFO dentists. Dale and said, in this statement to meet these goals, Mayo clinic needed to adopt new technology
mayo clinic selected Oracle for its ability to provide a single administrative platform for enterprise resource. Planning supply chain management, HR and Oracle fusion analytics. Okay. So ERP supply chain and HR makes sense. So they're, they're getting to a common platform. This includes AI to automate manual processes, analytics, to react to market shifts.
In real time at automatic updates to stay current Oracle cloud simplifies processes, Daylen said with Oracle cloud applications and the help of PWC as its implementation partner, Mayo clinic is expected to gain more complete view of the organization's finances to make timely business decisions. All right.
So they're preparing for a future where they have to be more nimble and respond to market conditions faster. It's important to note. That Mayo clinic has some of the best financials in the industry. , they top 10% plus margins every year, . This is consistent with a path that they have been on for a while. So they did the migration to epic and they made the epic platform work for them. At Mayo clinic, they'd spent a lot of time made sure they did it right. Made sure that it's supported their team-based approach. To healthcare. I think what they're looking at now is, you know, we did this in this area. It's led to a lot of success. It's time to really look at our ERP solution and modernize that whole platform.
My, so what on this, I'm looking on this from the outside saying this is an ERP modernization project. They're HR is probably outdated. Their supply chain is probably outdated a little bit.
There there's probably a whole host of things that need to be updated, integrated, , brought into the analytics platform. Giving them a strong foundation for quicker decision-making and more accurate decision-making
this is one of those areas where Mayo is actually a little late to the game. The industry has been moving to upgrade their ERP over the last, I would say , two years, maybe three years. And that was not precipitated by the pandemic. It really was a follow on to the fact that we updated our EHR platforms, maybe seven, eight years ago.
And it started to show some of the challenges we have with unintegrated systems on the HR supply chain and on the ERP side.
And without the tight integration. Like you have on the clinical side. You start to realize the benefits of having the information that you need at your fingertips to make decisions that are timely and in the best interest of your health system.
So my SOA for this, not all that exciting, to be honest with you. Uh, the ERP upgrade was happening over the last three years. It's going to continue to happen. If your health system hasn't made these investments. On the ERP side on integrating HR, supply chain, all those things. , it's probably time to take a look at that and to get on board with that and see if he can't get the capital.
To bring those systems up to snuff because that becomes part of your digital foundation.
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