Oracle’s third quarter 2016 earnings call was peppered with strong revenues and big wins in various categories. But what was most striking was the incredible progress the enterprise software powerhouse has made with regard to the cloud. Between CEO Safra Catz, CEO Mark Hurd (yes, they’re both CEOs), and Executive Chairman of the Board and CTO Larry Ellison, the trio was able to shed some light on their overall cloud business, which includes software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS).
Here are three reasons why you should be a believer in Oracle, whether a user, customer, or investor:
1) Cloud is a generational shift in technology and we’re still in the beginning stages
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Approximately 10 years ago, Oracle started going through an “operational transformation,” which is best summed up as their move to the cloud. It was then when the company started rewriting its software so it could be leveraged in the cloud. Today, Oracle has the most comprehensive portfolio of cloud solutions with over 11,000 customers, yet there’s still a lot more that can be accomplished. According to Safra, Oracle is “…not quite at the end of the beginning, as we’re actively working to transform our entire business.” She goes on to say, “We feel very good about the progress of our cloud transition and, clearly, customers are rapidly adopting Oracle.”
Needless to say, with cloud revenues up 43% in the last quarter, Oracle is nailing it, hard.
2) Oracle is unlike any other cloud company because it plays in so many markets
Larry tells it like it is. “Oracle is now selling more new SaaS and PaaS…than any other company in the world,” he said during the call. As always, he didn’t hesitate to name the competitors – strong players whose businesses were born in the cloud – that Oracle continues to beat in the marketplace.
What sets Oracle apart from other cloud vendors is the number of markets in which it competes, such as enterprise resource planning (ERP) and human capital management (HCM). This diversity gives the company a much more vast area in which it can thrive.
3) Oracle is winning new business from old and new customers
Mark Hurd mentioned something that is important to understand. Not only is Oracle signing up new cloud customers, but the company is winning cloud business from clients who have historically been using their applications on-premises. That said, the majority of Oracle’s revenue is still derived from customers who use its software on-premises. Bottom line: the company’s ability to scale is unlike any other.
Considering the above, I’m proud to say that Perficient has a large team of experts strictly devoted to the implementation and integration of Oracle solutions. Regardless of application or deployment method, we can help. Simply send us a note.